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Automotive Refinish Coating Market Trends

Report ID: GMI10868
Published Date: Aug 2024
Report Format: PDF

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Automotive Refinish Coating Market Trends

The automotive refinish coating industry is experiencing several key trends. There is a growing shift towards eco-friendly coatings, such as water-borne and UV-cured options, driven by environmental regulations and consumer demand. Technological advancements are leading to more durable and quicker-drying coatings, enhancing application efficiency. The rise in vehicle customization and repair activities is boosting demand for a wide range of colors and finishes. Additionally, the expansion of the automotive industry in emerging markets is increasing the market’s global footprint. These trends are shaping the future of the automotive refinish coating industry.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Market size for automotive refinish coating was USD 10.72 billion in 2023 and is expected to register over 5.6% CAGR from 2024-2032 owing to increasing number of vehicles on the road, particularly older vehicles requiring maintenance and repairs worldwide.

Automotive refinish coating industry from the basecoat segment is expected to reach USD 6.08 billion by 2032 due to its critical role in preparing vehicle surfaces for subsequent coatings.

North America industry is expected to reach USD 5.52 billion by 2032 due to high vehicle ownership rate, robust automotive repair and maintenance infrastructure, and significant investments in advanced coating technologies in the region.

3M Company, AkzoNobel N.V., Allnex Group, Axalta Coating Systems, LLC, BASF SE, Bernardo Ecenarro S.A., Cresta Paint Industries Ltd., Covestro AG, Dow Inc., and DSM Coating Resins B.V., are some of the major automotive refinish coating companies worldwide.