1. Market Research
  2. > Manufacturing
  3. > Paint and Coating Market Trends
  4. > World Automotive Refinish Coatings Market - Opportunities and Forecast, 2014 - 2020

World Automotive Refinish Coatings Market - Opportunities and Forecast, 2014 - 2020

  • September 2015
  • -
  • Allied Market Research

Summary

Table of Contents

Automotive vehicles need to be repaired frequently to enhance the façade and to recover the damages caused by external factors such as extreme temperature, stones, damage due to accidents and similar others. Automotive refinish coatings are used by the automotive body shops and repair centers for refinishing the vehicles. The global automotive refinish coatings market had witnessed a tremendous growth during the last 5 years. This was mainly due to increase in the number of vehicle collisions in conjunction with proclivity of owners to repair their vehicles. However, increasing government regulations on the utilization of high volatile organic compounds (VOC) level coatings may hamper the solvent-borne market growth. Therefore, the market is inclined towards water-borne refinish coatings, as they have comparatively low VOC levels. The market for global automotive refinish coatings is expected to grow at a CAGR of 6.3% during the forecast period (2015‐2020) and would reach $11.3 billion by 2020. Increasing number of accidents, adoption of newer technologies and rising disposable income in the developing economies are the major factors that are expected to boost the market growth. Moreover, growing demand of recreational vehicles in the developed regions of North America and Europe is further expected to fuel the refinish coatings market. Geographically, global automotive refinish coatings market is segmented into North America, Europe, Asia-Pacific and LAMEA regions. Asia-Pacific region is the largest consumer of refinish coatings and accounts for more than 35% of the global consumption. This is mainly due to increasing sales of pre-owned vehicles, growing cab services, and increasing vehicle repair and body shops in the region. To provide a thorough understanding of the market scenario, the global automotive refinish coatings market is further segmented based on product type, technology and resin consumed in different refinish coatings. The report highlights some of the major products such as primer, basecoat, clearcoats, Filler & Putty and activators among others. On the basis of technology, the market is segmented into solvent-borne, water-borne and UV-cured coatings. The consumption of solvent-borne coatings is highest owing to stringent government regulation on high VOC levels. Water-borne coatings are expected to be used more than solvent-borne coatings during the forecast period. Based on the type of resins consumed in the coatings, the market is classified into polyurethane, acrylic, alkyd, and others. The market for automotive refinish coatings witnessed a significant growth due to various strategies adopted by the key market players. Acquisition and expansion are among the noteworthy strategies adopted by the companies. For instance, Axalta Coating System, commissioned a new manufacturing unit at Wuppertal, Germany to produce eco-friendly waterborne coatings. With this expansion, the company plans to address the growing demand for coatings in the Europe, Africa and Middle East markets owing to the centralized location of Wuppertal. The report provides a comprehensive analysis of the key companies operating in the global market such as Axalta Coating Systems, BASF SE, Kansai Paint Co. Ltd.,Mitsui Chemicals, PPG Industries, Inc., Nippon Paints, Sherwin Williams, 3M Co. and Matrix System Automotive Finishes.KEY MARKET BENEFITS:The study provides an in-depth analysis of the global automotive refinish coatings market with current and future trends to elucidate the imminent investment pockets in the marketQuantitative analysis of the current market and estimations during 2014-2020 have been provided to highlight the financial caliber of the marketDrivers and restraints have been evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the market potential Porter’s five forces model of the industry illustrates the potency of the buyers and suppliers participating in the marketValue chain analysis in the report provides a clear understanding to the stakeholders involved in the marketGeographical analysis provides a thorough understanding of the consumption of automotive refinish coatings in major regionsKey Market SegmentsGlobal Automotive Refinish Coatings Market by Product TypesPrimerBasecoatClearcoatActivatorFiller & PuttyOthers Global Automotive Refinish Coatings Market by TechnologySolvent-borne CoatingsWater-borne CoatingsUV-cured Coatings Global Automotive Refinish Coatings Market by ResinPolyurethaneAlkydAcrylicOthersGlobal Automotive Refinish Coatings Market by GeographyNorth AmericaEuropeAsia-PacificLAMEA

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Global Automotive Paints and Coatings Market (2017 - 2022)

Global Automotive Paints and Coatings Market (2017 - 2022)

  • $ 4250
  • Industry report
  • January 2017
  • by Mordor Intelligence LLP

The global automotive paints and coatings market has been estimated at USD 18.57 billion in 2016 and is projected to reach USD 24.37 billion by 2021, at a CAGR of 5.59% during the forecast period, 2016 ...

Global Automotive Paints Market - Forecasts and Trends (2017 - 2022)

Global Automotive Paints Market - Forecasts and Trends (2017 - 2022)

  • $ 4250
  • Industry report
  • January 2017
  • by Mordor Intelligence LLP

The automotive paints market is expected to register a revenue worth $18 billion by the end of 2020, growing at a CAGR of 4.5% during the forecast period. The market is driven by the paint manufacturers ...

Automotive Coatings Markets in China

Automotive Coatings Markets in China

  • $ 4000
  • Industry report
  • February 2017
  • by Asia Market Information & Development Company

China’s demand for Automotive Coatings has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.