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Automotive Refinish Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity And Forecast 2022-2027
Published on: Feb 2022 | From USD $2499 | Published By: IMARCGROUP | Number Of Pages: 145
The global automotive refinish coatings market reached a value of US$ 9.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Automotive refinish coatings refer to polyurethane, acrylics or alkyd-based coatings used by vehicle body shops and repair centers. These coatings are applied to new/old passenger and commercial vehicles to cover up the damages on the body caused by extreme temperatures, accidents and impact from stones. Some of the commonly used refinish coatings include primer, filler, topcoat, basecoat and activator or hardener coatings. They are either solvent-borne, water-borne or ultraviolet (UV) cured. Among these, water-borne coatings have lower levels of volatile organic compounds (VOCs) than solvent-borne variants, thereby making them highly effective for all automobiles.
The growing automotive industry across the globe represents one of the key factors creating a positive outlook for the market. Furthermore, the increasing number of road accidents and collisions has resulted in the rising requirement for repair and maintenance activities, thereby stimulating the market growth. In line with this, there is a shift in consumer preference toward customized aftermarket modifications of the vehicles. Automotive refining coatings offer improved aesthetic appeal, surface protection and resistance to heat, temperature and corrosion. Additionally, various product innovations, such as the development of environment-friendly refinish coatings, are acting as other growth-inducing factors. These coatings are manufactured using organic chemicals and have a custom color, faster cure time and minimal VOC emissions. Other factors, including the rising expenditure capacities of consumers, along with the growing demand for recreational vehicles, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive refinish coatings market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on resin type, product type, technology and vehicle type.
Breakup by Resin Type:
Polyurethane
Alkyd
Acrylic
Others
Breakup by Product Type:
Primer
Basecoat
Activator
Filler
Topcoat
Others
Breakup by Technology:
Solvent-borne
Water-borne
UV-cured
Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 3M Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, Clariant AG, Dupont De Nemours Inc., Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd., PPG Industries Inc. and The Sherwin-Williams Company. Key Questions Answered in This Report:
How has the global automotive refinish coatings market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automotive refinish coatings market?
What are the key regional markets?
What is the breakup of the market based on the resin type?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the vehicle type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automotive refinish coatings market and who are the key players?
What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Automotive Refinish Coatings Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Resin Type
6.1 Polyurethane
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Alkyd
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Acrylic
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Product Type
7.1 Primer
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Basecoat
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Activator
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Filler
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Topcoat
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Technology
8.1 Solvent-borne
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Water-borne
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 UV-cured
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Vehicle Type
9.1 Passenger Cars
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Commercial Vehicles
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Others
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 3M Company
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Akzo Nobel N.V.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Axalta Coating Systems Ltd.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 BASF SE
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Clariant AG
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.6 Dupont De Nemours Inc.
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.7 Kansai Paint Co. Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 KCC Corporation
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.9 Nippon Paint Holdings Co. Ltd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 PPG Industries Inc.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 The Sherwin-Williams Company
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
Figure 1: Global: Automotive Refinish Coatings Market: Major Drivers and Challenges
Figure 2: Global: Automotive Refinish Coatings Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Automotive Refinish Coatings Market: Breakup by Resin Type (in %), 2021
Figure 4: Global: Automotive Refinish Coatings Market: Breakup by Product Type (in %), 2021
Figure 5: Global: Automotive Refinish Coatings Market: Breakup by Technology (in %), 2021
Figure 6: Global: Automotive Refinish Coatings Market: Breakup by Vehicle Type (in %), 2021
Figure 7: Global: Automotive Refinish Coatings Market: Breakup by Region (in %), 2021
Figure 8: Global: Automotive Refinish Coatings Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Automotive Refinish Coatings (Polyurethane) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Automotive Refinish Coatings (Polyurethane) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Automotive Refinish Coatings (Alkyd) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Automotive Refinish Coatings (Alkyd) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Automotive Refinish Coatings (Acrylic) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Automotive Refinish Coatings (Acrylic) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Automotive Refinish Coatings (Other Resin Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Automotive Refinish Coatings (Other Resin Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Automotive Refinish Coatings (Primer) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Automotive Refinish Coatings (Primer) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Automotive Refinish Coatings (Basecoat) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Automotive Refinish Coatings (Basecoat) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Automotive Refinish Coatings (Activator) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Automotive Refinish Coatings (Activator) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Automotive Refinish Coatings (Topcoat) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Automotive Refinish Coatings (Topcoat) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Automotive Refinish Coatings (Filler) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Automotive Refinish Coatings (Filler) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Automotive Refinish Coatings (Other Product Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Automotive Refinish Coatings (Other Product Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Automotive Refinish Coatings (Solvent-borne) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Automotive Refinish Coatings (Solvent-borne) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Automotive Refinish Coatings (Water-borne) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Automotive Refinish Coatings (Water-borne) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Automotive Refinish Coatings (UV-cured) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Automotive Refinish Coatings (UV-cured) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Automotive Refinish Coatings (Passenger Cars) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Automotive Refinish Coatings (Passenger Cars) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Automotive Refinish Coatings (Commercial Vehicles) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Automotive Refinish Coatings (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Automotive Refinish Coatings (Other Vehicle Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Automotive Refinish Coatings (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: North America: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: North America: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: United States: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: United States: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Canada: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Canada: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Asia Pacific: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Asia Pacific: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: China: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: China: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Japan: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Japan: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: India: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: India: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: South Korea: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: South Korea: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Australia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Australia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Indonesia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Indonesia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Europe: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Europe: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Germany: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Germany: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: France: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: France: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: United Kingdom: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: United Kingdom: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Italy: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Italy: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Spain: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Spain: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Russia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Russia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Latin America: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Latin America: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Brazil: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Brazil: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Mexico: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Mexico: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 86: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 87: Middle East and Africa: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2016 & 2021
Figure 88: Middle East and Africa: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 89: Global: Automotive Refinish Coatings Industry: SWOT Analysis
Figure 90: Global: Automotive Refinish Coatings Industry: Value Chain Analysis
Figure 91: Global: Automotive Refinish Coatings Industry: Porter’s Five Forces Analysis
Table 1: Global: Automotive Refinish Coatings Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Automotive Refinish Coatings Market Forecast: Breakup by Resin Type (in Million US$), 2022-2027
Table 3: Global: Automotive Refinish Coatings Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 4: Global: Automotive Refinish Coatings Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 5: Global: Automotive Refinish Coatings Market Forecast: Breakup by Vehicle Type (in Million US$), 2022-2027
Table 6: Global: Automotive Refinish Coatings Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Automotive Refinish Coatings Market Structure
Table 8: Global: Automotive Refinish Coatings Market: Key Players
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
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