Emerging Growth Patterns Driving Expansion in the Automotive Refinish Market

The automotive refinish market is on track for significant expansion as demand for advanced coatings and refinishing technologies rises. This sector is evolving rapidly, driven by regulatory changes and shifting consumer preferences, which make it an exciting area to watch over the next several years. Let's explore the market size projections, leading players, key trends, and segment details shaping this industry.

Projected Growth and Market Size of the Automotive Refinish Market
The automotive refinish market is projected to grow steadily, reaching a value of $17.39 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 5.7%. Factors supporting this growth include stricter eco-friendly coating regulations, increasing demand for refinishing electric vehicles, advancements in color matching technology, and trends toward vehicle customization. Additionally, the development of more durable coatings is boosting market growth. Notable trends influencing this market include a rise in collision repair services, wider adoption of water-borne paints, growing consumer interest in high-gloss finishes, and the expansion of automotive body shops.

Download a free sample of the automotive refinish market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=17087&type=smp

Leading Companies Driving the Automotive Refinish Market
A number of prominent companies currently dominate the automotive refinish market landscape. Key players include BASF SE, PPG Industries Inc., AkzoNobel N.V., Axalta Coating Systems Ltd., and The Sherwin-Williams Company. Other significant contributors are Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., KCC Corporation, Jotun Group, RPM International Inc., Asian Paints Limited, Berger Paints India Limited, NOROO Paint & Coatings Co. Ltd., Samhwa Paints Industrial Co. Ltd., KAPCI Coatings, TOA Performance Coating Corporation, HMG Paints Ltd., James Briggs Limited, Bernardo Ecenarro S.A., and Alps Coating Sdn. Bhd.

In a notable development in June 2023, Spain's Briolf Group S.L. acquired Italy-based INTEC srl, a well-known provider of automotive refinishing products. This strategic acquisition strengthens Briolf's presence in the European paints and coatings market and marks an important milestone in its growth trajectory.

View the full automotive refinish market report:
https://www.thebusinessresearchcompany.com/report/automotive-refinish-global-market-report

Technological Innovations Shaping the Automotive Refinish Industry
Technological progress is a major focus for automotive refinish companies eager to enhance product performance and customer satisfaction. One such advancement is the introduction of high-performance VHS clear coats. These coatings provide exceptional durability, protecting vehicles from UV damage, chemical exposure, and scratches while delivering a clear, glossy finish.

For example, in July 2023, Belgium's Proxl launched XPRESS605, a VHS clear coat designed for ease of use and efficiency. This product offers an extended open time, high-gloss finish, and rapid curing, which improves productivity and reduces costs related to materials, energy, and labor. XPRESS605 features a simple 2:1 mix ratio of clear coat and hardener with no need for additional thinners, has a solids content of 63%-higher than its competitors-and produces a dry film thickness of approximately 60 microns, all while maintaining low VOC emissions.

Segment Overview and Market Structure in the Automotive Refinish Sector
The automotive refinish market is segmented into several categories for a detailed analysis:

By product type, the market includes primer, base coat, and clear coat.
Material types are divided into polyurethanes and acrylics.
Technology segments include solvent borne and water borne coatings.
Applications cover passenger vehicles and commercial vehicles.
End users are classified as original equipment manufacturers (OEM) and aftermarket services.

Further subsegments refine these categories, such as primers including epoxy, urethane, etch, high build, filler, and polyester primers. Base coats break down into solid, metallic, and pearlescent varieties. Clear coats are categorized by finish types like high gloss, matte, satin, as well as by special features such as UV resistance and scratch resistance.

This comprehensive segmentation provides clarity on the diverse product offerings and end-use applications shaping the automotive refinish market's competitive landscape.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.