Dublin, Aug. 15, 2023 (GLOBE NEWSWIRE) — The “Automotive Refinish Coatings Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This comprehensive report provides valuable insights into the global automotive refinish coatings market, including market size, growth trends, regional analysis, and key developments.
Automotive refinish coatings refer to specialized coatings, including alkyd, polyurethane, and acrylics, used by body shops and repair centers to cover damages on vehicle bodies caused by accidents, stones, or temperature variations. The main products of automotive refinish coatings include primer, basecoat, clear coat, activator, filler, and putty.
These coatings find applications in passenger cars, commercial vehicles, and two-wheelers. The technologies involved range from solvent-borne coatings to water-borne coatings, UV-cured coatings, high solid coatings, and powder coatings, using resin types such as polyurethane, alkyd, acrylic, and epoxy.
Key Drivers and Trends:
The global automotive refinish coatings market is expected to grow from $8.80 billion in 2022 to $9.34 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The market is projected to reach $11.46 billion in 2027 at a CAGR of 5.3%. Technological advancements, such as digital color solutions and spectrophotometer tools, are a key trend gaining popularity in the automotive refinish coatings market. Major companies in the industry are introducing innovative products to enhance precision and efficiency in the automotive painting process.
Asia-Pacific was the largest region in the automotive refinish coatings market in 2022. The report covers key regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the automotive refinish coatings market include 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 NV, Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, and Alps Coating Sdn Bhd.
Reasons to Purchase:
- Gain a comprehensive understanding of the automotive refinish coatings market with an in-depth analysis of current and future scenarios.
- Identify growth segments and investment opportunities.
- Stay ahead of the competition with forecast data and analysis.
- Benchmark performance against key competitors.
Key Questions Answered:
- Where is the largest and fastest-growing market for automotive refinish coatings?
- How does the market relate to the overall economy, demography, and other similar markets?
- What forces will shape the market going forward?
The report covers:
- Market characteristics, size, and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies.
- Impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russia-Ukraine war on the Eastern European region and its subsequent effect on global markets.
- Impact of higher global inflation and its effect on market growth.
- Continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Growth trajectory of COVID-19 for all regions, key developed countries, and major emerging markets.
- Description of the competitive nature of the market, market shares, and leading companies.
- Key financial deals that have shaped the market in recent years.
- Emerging trends and strategies for companies to grow as the market recovers.
- By Product Type: Primer; Basecoat; Clearcoat; Activator; Filler and Putty
- By Technology: Solvent-borne Coatings; Water-borne Coatings; UV-cured Coatings; High Solid Coatings; Powder Coatings
- By Resin: Polyurethane; Alkyd; Acrylic; Epoxy
- By Application: Passenger Cars; Commercial Vehicles; Two-Wheeler
- By End Use: OEM; Aftermarket
The automotive refinish coatings market research report is one of a series of new reports from ResearchAndMarkets.com that provides automotive refinish coatings market statistics, including global market size, regional shares, competitors’ market share, detailed market segments, trends, and opportunities. The report delivers a complete perspective of the automotive refinish coatings industry, with an in-depth analysis of the current and future scenarios.
|No. of Pages||200|
|Forecast Period||2023 – 2027|
|Estimated Market Value (USD) in 2023||$9.34 billion|
|Forecasted Market Value (USD) by 2027||$11.46 billion|
|Compound Annual Growth Rate||5.2%|
For more information about this report visit https://www.researchandmarkets.com/r/z6gwlo
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