Global Automotive Refinish Coatings Market Expansion at 6.1% CAGR, Valued at $12.79 Billion by 2029

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What Are the Automotive Refinish Coatings Market Size Forecast for 2025?
In recent times, there has been consistent expansion in the automotive refinish coatings market. The market worth, which stood at $9.7 billion in 2024, is projected to increase to $10.1 billion in 2025, showcasing a compound annual growth rate (CAGR) of 4.1%. Factors contributing to this growth during the historic period include heightened automotive repair and maintenance activities, a surge in the number of vehicles on the road, an ageing vehicle fleet, an increase in accidents, consumer aesthetic preferences, and a global increase in the automotive market.

What Is the Market Size Outlook for Automotive Refinish Coatings Until 2029?
In the following years, the automotive refinish coatings market is projected to witness significant growth, reaching an anticipated market size of $12.79 billion in 2029, with a compound annual growth rate of 6.1%. Factors contributing to this surge during the forecast period include improvements in coating formulations, a growing focus on sustainability, and a higher demand for high-performance coatings and digital color matching solutions. Other factors include the global expansion of automotive repair chains and shifting consumer preferences. Expected trends for the period include technological evolution in coating formulations, increased use of waterborne coatings to comply with environmental regulations, growing acceptance of UV-cured coatings, heightened popularity of matte finishes, rising use of clearcoat technologies, and heightened investment in training and certification.

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What Are the Major Factors Driving Demand in the Automotive Refinish Coatings Market?
The growth of the automobile refinish coatings market is projected to be driven by the increasing number of accidents. These accidents are incidents where a vehicle is partially or fully involved in a collision on a public road, causing injuries. Automotive refinish coatings are used to fix damages to the vehicle's body caused by such accidents. For example, the US-based government department, the National Highway Traffic Safety Administration, stated in June 2024 that about 2.38 million individuals were harmed in traffic accidents in 2022, a decrease from 2.50 million in 2021. As a result, the increased incidence of accidents is contributing to the expansion of the automotive refinish coatings industry.

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How Are End-Use Segments Shaping the Automotive Refinish Coatings Market Outlook?
The automotive refinish coatings market covered in this report is segmented -

1) By Product Type: Primer, Basecoat, Clearcoat, Activator, Filler And Putty
2) By Technology: Solvent-borne Coatings, Water-Borne Coatings, UV-Cured Coatings, High Solid Coatings, Powder Coatings
3) By Resin: Polyurethane, Alkyd, Acrylic, Epoxy
4) By Application: Passenger Cars, Commercial Vehicles, Two-Wheeler
5) By End Use: OEM, After market

Subsegments:
1) By Primer: Epoxy Primers, Urethane Primers, Wash Primers
2) By Basecoat: Solvent-Based Basecoats, Water-Based Basecoats, Metallic Basecoats
3) By Clearcoat: Urethane Clearcoats, Acrylic Clearcoats, High Solid Clearcoats
4) By Activator: Hardener Activators, Thinner Activators
5) By Filler And Putty: Polyester Fillers, Epoxy Fillers, Spot Putty

What Are the Strategic Trends Transforming the Automotive Refinish Coatings Market Landscape?
The key trend gaining traction in the automotive refinish coatings market is technological advancements. Notable industry players are engaging in the development of advanced technological solutions to maintain their market standing. An example of this is PPG Industries, Inc., an American company specializing in paint and coating manufacturing, who launched the PPG DP7000 Air-Dry Primer in automotive refinish markets situated in Europe, the Middle East, and Africa, in November 2023. This top-tier dual-pack acrylic primer complies with European volatile organic compound (VOC) regulations, and pairs well with PPG's topcoat systems. This product is innovatively designed for quick air drying, which significantly bolsters productivity and cuts down on energy use. The PPG DP7000's drying time is twice as quick compared to other technologies available in the market, functions in any humidity conditions, and supports either baking or infrared curing when needed. The innovative features of this product help boost the profit margins for bodyshops and minimize their environmental footprint.

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Who Are the Prominent Companies in the Automotive Refinish Coatings Market by ?
Major companies operating in the automotive refinish coatings market are KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, KAPCI Coatings Company, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel N.V., Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, Alps Coating Sdn Bhd, Masco Corporation, Jotun AS, Hempel A/S, Berger Paints Ltd., Lord Corporation, Beckers Group, Cabot Corporation, HMG Paints Limited, Shanghai Kinlita Chemical Co. Ltd., Tikkurila Oyj, Karl WÖRwag Lack- Und Farbenfabrik Gmbh & Co. Kg, Duluxgroup (Investments) Pty. Ltd., Carpoly Co. Ltd., Kangnam Jevesco Co. Ltd., Mankiewicz Gebr. & Co., Shawcor Ltd.

Which Region Is Expected to See the Highest CAGR in the Automotive Refinish Coatings Market?
Asia-Pacific was the largest region in the automotive refinish coatings market in 2024. The regions covered in the automotive refinish coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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