Global Analysis of the Automotive Refinish Coatings Market

  • August 2013
  • -
  • Frost & Sullivan
  • -
  • 142 pages

Focus on Value-Added Services Critical to Tap Future Potential

This research service identifies the major industry drivers, restraints, regional trends, and technology segment trends in the global automotive refinish coatings market. The research covers four regions: North America, Europe, Asia-Pacific and rest of the world (ROW). The study provides an in-depth analysis on solvent- and water-borne coating segments with percentage splits across regions and by chemistries. Competitive structure and market share analysis have been done at the RS level. Unit shipment, revenue forecasts, and pricing trends have been provided for each of the segments. The base year is 2012 and the forecast period ends in 2019. Three big predictions are offered about the future of the market.

Key Questions This Study Will Answer

- How is the market growing, how long will it continue to grow, and at what rate?
- Which segments are poised to grow in the future?
- What are the key factors driving and restricting growth in this market?
- What are the regional trends in the market?
- Who are the leading market participants?
- What are the key competitive factors governing this market?

Executive Summary

- The automotive refinish coatings market is primarily influenced by car sales, vehicles in operation (*VIO), accident rates, age of the car, and miles driven.
- Rapid increase in car sales and VIO in Brazil, Russia, India, China (BRIC), and Eastern European countries have steered growth opportunities towards the Asia-Pacific (APAC) and rest of the world (ROW) regions. However, recessionary effects, along with reduced accident rates due to enhanced road safety and speed management systems in vehicles have contributed to the restrained growth in the automotive refinish coatings market in Europe and North America.
- Conversion to water-borne coating systems from solvent-borne counterparts remain a major trend in Europe and North America due to regulatory requirements to reduce volatile organic compounds (VOC) levels in solvent-borne coatings. High-solids solvent-borne coatings are gaining momentum in the North American market, while water-borne coatings are more popular in Europe to achieve VOC reduction.
- APAC and ROW markets are witnessing rapid technological advancements with the rising standards of living, increasing disposable income levels, and growing customer requirements for refinish jobs that meet original equipment manufacturers’ (OEM) standards.
- Quick drying, cost-efficient, and high performing coatings are the primary needs in the market. Companies should further ensure that they have a broad product portfolio to cater to the varying needs of OEM aftermarket and independent body shops.

Strategic Factsheet

- The automotive refinish coatings market is currently estimated at $xxmillion and is expected to grow at a CAGR of xxxx% between 2012 and 2019.
- Solvent-borne coatings, with xx% share, dominate the market. Water-borne coatings with xx% are witnessing rapid growth.
- The automotive refinish coatings market is highly competitive with the top xx market participants holding xx% share.
- In addition to product performance, service capabilities have become a key competitive aspect in the market.
- The APAC and ROW markets are poised to witness strong growth during the forecast period due to increased car sales and VIO.
- Europe and North America remain mature, and growth is further deterred by economic recession and reduced per capita car ownership
- The automotive refinish coatings market is expected to reach $xx million by 2019.
- Unit shipments are expected to reach xx million litres (M L), growing at a CAGR of xx%.
- Solvent-borne coatings will continue to dominate the market with xx% share.

CEO’s Perspective

- Driven by the increasing VIO units and accidents rates, BRIC and Eastern European countries will be the major hotspots for the automotive refinish coatings market during the forecast period.
- Consolidation of smaller independent body shops is expected to continue in the future due to overcapacity in North American and European markets or due to acquisition by larger independent/OEM aftermarket body shops.
- Stringent regulations have accelerated the adoption of water-borne and high-solids solvent-borne coating systems in Western Europe and North America while OEMs are expected to facilitate the trend in India, China, and Eastern European countries.
- Economic recession has not only restrained car sales but also resulted in car owners deferring and cancelling vehicle repairs in North America and Europe, impacting the refinish coatings business. Modest growth rates are expected to be restored when the economies stabilize.
- Reliability, OEM color matching capability, environmental sustainability, and price will remain the key competitive aspects in the automotive refinish coatings market.

Table Of Contents

Executive Summary
Market Overview
Total Automotive Refinish Coatings Market
External Challenges: Drivers and Restraints
Forecast and Trends
Regulatory and Technology Trends
Market Share and Competitive Analysis
Mega Trends and Industry Convergence Implications
CEO’s 360 Degree Perspective
Water-borne Coatings Segment Breakdown
Solvent-borne Coatings Segment Breakdown
North American Breakdown
European Breakdown
APAC Breakdown
ROW Breakdown
The Last Word
Appendix

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