Automotive body shops and repair centers are the most common users of automotive refinish paint to refinish vehicles. Automobiles must be repaired on a regular basis in order to maintain the body and recover damages caused by external sources such as stones, excessive temperatures, accidents, and other issues. Polyurethane, acrylic, and alkyd-based coatings are examples of automotive refinish coatings. These coatings are used to cover up damage on the body of new and existing passenger and commercial vehicles. Primer, filler, topcoat, basecoat, and activator or hardener coatings are some of the most often used refinish coatings. They can be cured using solvents, water, or ultraviolet light (UV).
MARKET SCOPE
The "Global Automotive Refinish Paints Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive refinish paints market with detailed market segmentation by type, technology, resin type, and geography. The report provides key statistics on the market status of the leading automotive refinish paints market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented into primer, base coat, topcoat, and others.
- On the basis of technology, the market is segmented into waterborne, solvent-borne, and others.
- On the basis of resin type, the market is segmented into acrylic, epoxy, polyurethane, and others.
MARKET DYNAMICS
Drivers:
- One of the primary reasons contributing to the market's favourable outlook is the growth of the global automobile industry.
- Furthermore, an increase in the frequency of road accidents has increased the demand for repair and maintenance services, boosting market growth.
- As a result, there is a movement in consumer preference for customised aftermarket automobile modifications. Surface protection, heat, temperature, and corrosion resistance are all advantages of automotive refining coatings. This factor is alsoexpected to drive the market growth in the coming years.
- Other factors, such as rising consumer spending power and increased demand for recreational vehicles, are expected to propel the industry even further.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive refinish paints market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive refinish paints market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE REFINISH PAINTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. However, due to growing recovery rates of patients across the globe and rising vaccination rates, businesses across the globe are expected to start their operations soon which will positive impact on the market growth in the coming years.
MARKET PLAYERS
The report covers key developments in the automotive refinish paints market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Automotive refinish paints market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive refinish paints in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive refinish paints market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Akzo Nobel N.V
- Axalta Coating Systems, LLC
- BASF SE
- Kansai Paint Co., Ltd.
- KCC CORPORATION
- Mitsui Chemicals India Pvt. Ltd
- NIPPON PAINT
- PPG INDUSTRIES, INC
- The Sherwin-Williams Company
- Valspar
- Dupont
- Angel Coating
- Dupli-Color
- Solvay
- 3M
- Clariant AG
- Concept Paints
- Phoenix Lacquers and Paints MFG Pty Ltd.
- VG Auto Paints
- Park Automotive