Global Automotive Refinish Valued at 9.2 Billion USD by 2022

Date: 2018-04-08

Automotive refinish coatings are polyurethane, acrylics or alkyd based coatings. Automotive refinishing refers to the act of repairing or reapplying the coat finishing on a car. In practice, this may apply to the paint or finish top coat, lacquer or varnish.

The growth of Automotive refinish can attributed to the growing shipment of vehicles and increasing density of traffic leads to cause number of vehicle collisions more frequently, according to research, global Automotive Refinish valued at 9.2 Billion USD by 2022 at a CAGR of 6.6% during the forecast period.

Asia Pacific is estimated still dominated the market, which accounted for over 42% of share globally, China and India are the growth frontiers for the Automotive Refinish market owing to the growing demand for vehicles from, and the rising disposal income in the Asia region has triggered the need of Automotive refinish is one of the key drivers for the Automotive Refinish market in the region. The market in Asia Pacific is expected to register a CAGR of 6.8% in terms of value over the forecast period.

In terms of Automotive refinish types, Automotive refinish basically can be split into Water-Borne, Solvent-Borne, Ultra-Violet (UV) Cured. According to research, the Water-Borne is leading the market due to the cost performance.

Base on application, the passenger car segment led the refinish paint market for automotive and is expected to maintain its dominance during the forecast period.

The global leading companies in Automotive Refinish market are Axalta Coatings Systems, PPG Industries Inc., AkzoNobel N.V., BASF SE, Sherwin Williams, KCC Paints, Covestro, Berger Paints, Kansai Paint, Nippon Paint, NOROO Paint, Lubrizol Corporation, S.Coat, and Diamond Vogel among others.

Global Automotive Refinish market share by region as following:

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520


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