Refinish Paint - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Refinish Paint Market is accounted for $6.95 billion in 2017 and is expected to reach $12.36 billion by 2026 growing at a CAGR of 6.6% during the forecast period. Rise in vehicle usage globally, increasing income of the middle-class population and the tendency of car owners to fix their vehicle post-collision are some of the key factors propelling the market growth. However, instability in raw material costs and lack of skilled professionals are hindering the growth of the market. Rising implementation of development strategies by key manufactures provides ample of opportunities for the market growth.
By Resin, Polyurethane resins are extensively used in clear coat and basecoat. The increase in this segment is backed by its preference in clear coat and basecoat layers due to its outstanding mechanical resistance, corrosion and weather. It helps in create the automotive coatings with superior shine and outstanding finish. In addition, it also offers superior strength, as a result, lowering maintenance requirements significantly.
By Technology, Solvent borne coating is a liquid protecting layer that is mainly consists of organic compounds and useful to a material's surface to stop corrosion. These are cleaned up with other solvents and have tremendous block resistance. It offers advanced gloss level and splendid adhesion when contrast to other technologies. It has less influence on climate conditions such as temperature and moisture.
By Geography, North America is anticipated to dominate the market share due to the high disposable incomes and tendency of car owners to fix their vehicle post-collision are amongst the key factors influencing the growth of the market in North America. Asia Pacific is the highest growing market during the forecast period. Emerging economies such as India, China and various Southeast Asian countries are attracting numerous global vendors to start their manufacturing base in Asia-Pacific.
Some of the key players in Refinish Paint market include BASF SE, Axalta Coating Systems, 3M, PPG Industries, Inc., Nippon Paint Holdings Co., Ltd, Akzo Nobel N.V., Donglai Coating Technology Co., Ltd, Kansai Paint Co., Ltd., Sherwin-Williams, Noroo Paint & Coatings, Cresta Paint Industries, Samhwa Paints Industrial, Kapci Coatings, The Valspar Corporation and Novol.
• Primer & Filler
• Other Layers
• Waterborne Coating
• Powder Coating
• Solventborne Coating
• Other Technologies
• Epoxy Resin
• Acrylic Resin
• Polyurethane Resin
• Other Resins
Vehicle Types Covered:
• Passenger Cars
• Other Vehicle Types
Vehicle Ages Covered:
• <5 years
• 5-10 years
• >10 years
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- 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
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