Automotive Refinish Coatings Market
Automotive Refinish Coatings Market Forecasts to 2030 - Global Analysis By Material Type (Acrylics, Polyurethanes, Epoxy, Polyester and Other Material Types), Vehicle Type (Commercial Vehicles and Passenger Vehicles), Coat Type (Top Coat, Base Coat, Clear Coat and Other Coat Types), Formulation and By Geography
According to Stratistics MRC, the Global Automotive Refinish Coatings Market is accounted for $13.2 billion in 2024 and is expected to reach $22.4 billion by 2030 growing at a CAGR of 9.2% during the forecast period. Automotive refinish coatings are specialized products designed to restore and protect the surfaces of vehicles after damage or wear. Advanced formulations, such as waterborne and high-solids coatings, are increasingly popular due to their lower environmental impact and improved application properties. Automotive refinish coatings not only enhance the vehicle's appearance but also extend its lifespan, ensuring long-lasting protection against corrosion and wear. The application process typically involves surface preparation, applying multiple layers for optimal finish, and curing to ensure a strong bond.
According to the Autocare Association, the global automotive aftermarket grew by 14.8% in 2021 and is expected to reach US$514 billion by 2024. According to the International Organization of Motor Vehicle Manufacturers (OICA, the total automotive vehicle production in China rose by 3%, a 30% increase in India, 8% growth in Taiwan and 63% growth in Indonesia for the year 2021 compared to the previous year.
Market Dynamics:
Driver:
Increased vehicle lifespan
Increased vehicle lifespan is substantially influencing the automotive refinish coatings industry, driving innovation and development of more durable and resilient products. As consumers expect their vehicles to last longer, manufacturers are responding by creating coatings that not only enhance aesthetics but also provide superior protection against environmental factors, such as UV rays, corrosion, and chemical exposure. Advanced formulations incorporate cutting-edge technologies like nano-coatings and high-performance polymers, which improve adhesion and resistance to scratches and fading. This evolution in refinish coatings not only prolongs the appearance and integrity of vehicles but also supports sustainability by reducing the frequency of repaints and repairs.
Restraint:
Skill shortages
The automotive refinish coatings industry is facing significant skill shortages that hinder its growth and efficiency. As technology advances, the demand for skilled professionals who can navigate complex coating systems and application techniques increases. Many workers lack the specialized training needed to handle modern materials, such as waterborne and high-performance coatings, which require both technical expertise and an understanding of environmental regulations. This gap in skills leads to longer project timelines, decreased product quality, and increased operational costs. These elements are hampering the market growth.
Opportunity:
Integration of digital technologies
The integration of digital technologies in automotive refinish coatings is revolutionizing the industry by enhancing precision, efficiency, and quality. Advanced tools like color matching software and automated mixing systems enable technicians to achieve exact color replicas, reducing waste and improving customer satisfaction. Augmented reality (AR) applications provide visual aids for technicians during the repair process, streamlining workflows and minimizing errors. IoT-enabled equipment allows for real-time monitoring of conditions, ensuring optimal application environments and reducing drying times.
Threat:
Economic fluctuations
Economic fluctuations significantly impact the automotive refinish coatings industry by altering consumer spending patterns, production costs, and overall market demand. During economic downturns, consumers tend to postpone vehicle repairs and refinishing, leading to reduced demand for coatings. Rising raw material prices, driven by inflation or supply chain disruptions, can increase production costs for manufacturers, further squeezing profit margins. In contrast, economic growth may boost vehicle sales and repair activities, but fluctuations can create uncertainty, making it challenging for businesses to plan and invest in new technologies or product lines.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the automotive refinish coatings industry, leading to a shift in demand and operational challenges. During lockdowns, production facilities faced temporary closures, disrupting supply chains and causing shortages of raw materials. This, coupled with reduced vehicle usage, resulted in a decline in refinishing services, as fewer accidents and damage incidents occurred. However, the pandemic also accelerated trends such as increased online sales and the adoption of digital tools for customer engagement, prompting businesses to adapt quickly. The push for sustainability led to a growing interest in eco-friendly coatings, as consumers became more environmentally conscious during the crisis.
The Polyurethanes segment is expected to be the largest during the forecast period
Polyurethanes segment is expected to dominate the largest share over the estimated period, by offering superior durability, flexibility, and resistance to environmental factors. These coatings provide excellent adhesion and are resistant to scratches, chemicals, and UV radiation, ensuring that the vehicle's appearance remains pristine over time. Polyurethanes also contribute to a smooth, glossy finish that enhances the aesthetic appeal of vehicles, making them highly sought after in the automotive market. Innovations in formulation have led to faster curing times and improved application methods, facilitating efficient repairs and refinishing processes.
The Passenger Vehicles segment is expected to have the highest CAGR during the forecast period
Passenger Vehicles segment is estimated to grow at a rapid pace during the forecast period, as it meets growing consumer demands for quality, durability, and aesthetics. These advanced coatings are designed to restore vehicles to their original shine while providing long-lasting protection against environmental elements, such as UV rays, chemicals, and abrasion. Innovations in formulations are leading to improvements in color retention, gloss, and resistance to chipping and fading. Furthermore, eco-friendly options are gaining traction, as manufacturers aim to reduce the environmental impact of their products. The rise of advanced technologies, including nanotechnology and multi-layered systems, is also contributing to superior performance and application ease.
Region with largest share:
North America region is poised to hold the largest share of the market throughout the extrapolated period, as manufacturers seek to stand out in a competitive landscape. Companies are emphasizing unique product formulations, innovative application technologies, and environmentally friendly solutions to cater to diverse customer needs. This focus on differentiation not only helps brands establish a distinct identity but also builds customer loyalty in a market characterized by rising consumer expectations for quality and sustainability. Advanced coatings that offer enhanced durability, ease of application, and superior aesthetic qualities are gaining traction, appealing to both professional refinishing shops and DIY enthusiasts.
Region with highest CAGR:
Europe region is estimated to witness the highest CAGR during the projected time frame, by promoting sustainability and innovation. Many European countries are implementing stringent environmental regulations, encouraging manufacturers to develop eco-friendly coatings that reduce volatile organic compounds (VOCs) and enhance durability. Incentives such as tax breaks and grants for adopting green technologies motivate companies to invest in advanced coating solutions. Additionally, insurance providers are increasingly offering discounts for businesses that use environmentally friendly products, recognizing their potential to lower repair costs and improve vehicle longevity. These incentives not only support manufacturers in meeting regulatory compliance but also foster a competitive market that prioritizes sustainable practices. These factors are boosting the regional growth.
Key players in the market
Some of the key players in Automotive Refinish Coatings market include 3M Company, Akzo Nobel N.V., Allnex Group, Axalta Coating Systems, BASF SE, Berger Paints India Limited, Cabot Corporation, Covestro AG, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd, NOROO Paint & Coatings co. Ltd, PPG Industries, Inc, The Dow Chemical Company, The Lubrizol Corporation and The Sherwin-Williams Company.
Key Developments:
In April 2024, BASF's Coatings division launched a new range of eco-efficient clearcoats and undercoats for the Asia Pacific refinish market. The products aimed to enhance quality and productivity while significantly reducing CO₂ emissions. The latest products, manufactured using BASF's biomass balance approach, have received approvals from leading automotive OEMs and are designed to help body shops improve efficiency and profitability.
In December 2022, BASF introduced car coatings made with renewable raw materials through a certified biomass balance method. BASF's ColorBrite Airspace, Blue ReSource basecoat, launched in China after being certified by REDcert using a biomass balance method. BASF's biomass balance automotive OEM coatings were introduced to Asia for the first time in May 2022, following their official launch in Europe.
Material Types Covered:
• Acrylics
• Polyurethanes
• Epoxy
• Polyester
• Other Material Types
Vehicle Types Covered:
• Commercial Vehicles
• Passenger Vehicles
Coat Types Covered:
• Top Coat
• Base Coat
• Clear Coat
• Other Coat Types
Formulations Covered:
• Water Based
• Solvent Based
• Powder Based
• Other Formulations
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Refinish Coatings Market, By Material Type
5.1 Introduction
5.2 Acrylics
5.3 Polyurethanes
5.4 Epoxy
5.5 Polyester
5.6 Other Material Types
6 Global Automotive Refinish Coatings Market, By Vehicle Type
6.1 Introduction
6.2 Commercial Vehicles
6.3 Passenger Vehicles
7 Global Automotive Refinish Coatings Market, By Coat Type
7.1 Introduction
7.2 Top Coat
7.3 Base Coat
7.4 Clear Coat
7.5 Other Coat Types
8 Global Automotive Refinish Coatings Market, By Formulation
8.1 Introduction
8.2 Water Based
8.3 Solvent Based
8.4 Powder Based
8.5 Other Formulations
9 Global Automotive Refinish Coatings Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 3M Company
11.2 Akzo Nobel N.V.
11.3 Allnex Group
11.4 Axalta Coating Systems
11.5 BASF SE
11.6 Berger Paints India Limited
11.7 Cabot Corporation
11.8 Covestro AG
11.9 Kansai Paint Co., Ltd
11.10 Nippon Paint Holdings Co., Ltd
11.11 NOROO Paint & Coatings co. Ltd
11.12 PPG Industries, Inc
11.13 The Dow Chemical Company
11.14 The Lubrizol Corporation
11.15 The Sherwin-Williams Company
List of Tables
1 Global Automotive Refinish Coatings Market Outlook, By Region (2022-2030) ($MN)
2 Global Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
3 Global Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
4 Global Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
5 Global Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
6 Global Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
7 Global Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
8 Global Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
9 Global Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
10 Global Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
11 Global Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
12 Global Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
13 Global Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
14 Global Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
15 Global Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
16 Global Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
17 Global Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
18 Global Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
19 Global Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
20 Global Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
21 North America Automotive Refinish Coatings Market Outlook, By Country (2022-2030) ($MN)
22 North America Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
23 North America Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
24 North America Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
25 North America Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
26 North America Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
27 North America Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
28 North America Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
29 North America Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
30 North America Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
31 North America Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
32 North America Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
33 North America Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
34 North America Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
35 North America Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
36 North America Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
37 North America Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
38 North America Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
39 North America Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
40 North America Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
41 Europe Automotive Refinish Coatings Market Outlook, By Country (2022-2030) ($MN)
42 Europe Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
43 Europe Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
44 Europe Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
45 Europe Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
46 Europe Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
47 Europe Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
48 Europe Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
49 Europe Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
50 Europe Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
51 Europe Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
52 Europe Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
53 Europe Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
54 Europe Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
55 Europe Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
56 Europe Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
57 Europe Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
58 Europe Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
59 Europe Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
60 Europe Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
61 Asia Pacific Automotive Refinish Coatings Market Outlook, By Country (2022-2030) ($MN)
62 Asia Pacific Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
63 Asia Pacific Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
64 Asia Pacific Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
65 Asia Pacific Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
66 Asia Pacific Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
67 Asia Pacific Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
68 Asia Pacific Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
69 Asia Pacific Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
70 Asia Pacific Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
71 Asia Pacific Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
72 Asia Pacific Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
73 Asia Pacific Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
74 Asia Pacific Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
75 Asia Pacific Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
76 Asia Pacific Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
77 Asia Pacific Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
78 Asia Pacific Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
79 Asia Pacific Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
80 Asia Pacific Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
81 South America Automotive Refinish Coatings Market Outlook, By Country (2022-2030) ($MN)
82 South America Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
83 South America Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
84 South America Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
85 South America Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
86 South America Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
87 South America Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
88 South America Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
89 South America Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
90 South America Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
91 South America Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
92 South America Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
93 South America Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
94 South America Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
95 South America Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
96 South America Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
97 South America Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
98 South America Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
99 South America Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
100 South America Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
101 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Country (2022-2030) ($MN)
102 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Material Type (2022-2030) ($MN)
103 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Acrylics (2022-2030) ($MN)
104 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Polyurethanes (2022-2030) ($MN)
105 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Epoxy (2022-2030) ($MN)
106 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Polyester (2022-2030) ($MN)
107 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Other Material Types (2022-2030) ($MN)
108 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Vehicle Type (2022-2030) ($MN)
109 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
110 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
111 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Coat Type (2022-2030) ($MN)
112 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Top Coat (2022-2030) ($MN)
113 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Base Coat (2022-2030) ($MN)
114 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Clear Coat (2022-2030) ($MN)
115 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Other Coat Types (2022-2030) ($MN)
116 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Formulation (2022-2030) ($MN)
117 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Water Based (2022-2030) ($MN)
118 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Solvent Based (2022-2030) ($MN)
119 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Powder Based (2022-2030) ($MN)
120 Middle East & Africa Automotive Refinish Coatings Market Outlook, By Other Formulations (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
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