How the Automotive Refinish Coatings Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Factors Are Propelling the Market Growth of theAutomotive Refinish Coatings Market from 2025 to 2034?
The accelerated increase in accidents is projected to stimulate the expansion of the automotive refinish coatings market in the future. Accidents encompass any harm sustained as a result of vehicular collisions partially or entirely on a public road. Automotive refinish coatings are used to rectify the damage inflicted on the vehicle body following accidents. For instance, in June 2024, the US-based government department, National Highway Traffic Safety Administration, estimated that around 2.38 million people suffered injuries in motor vehicle accidents in 2022, a slight drop from 2.50 million in 2021. Consequently, the growing incidence of accidents is fostering the automotive refinish coatings market’s progression.
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#What Long-Term Growth Rate is Expected for theAutomotive Refinish Coatings Market Between 2025 and 2034?
There has been a marked growth in the automotive refinish coatings market in the past few years. Its size is set to expand from $9.7 billion in 2024 to $10.24 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.6%. The growth observed in the historical period is a consequence of factors such as automotive repair and maintenance, the rise in the number of vehicles on the road, an aging vehicle fleet, an increase in accident rates, consumer desires for aesthetic appeal, and worldwide growth of the automotive market.
The size of the automotive refinish coatings market is anticipated to experience robust growth in the forthcoming years. It is projected to expand to $13.16 billion by 2029 with a compound annual growth rate (CAGR) of 6.5%. The growth during the predicted period can be linked to the improvements in coating formulation, heightened focus on sustainability, increased demand for high-quality coatings, innovations in digital color matching solutions, worldwide expansions of automotive repair chains, and shifting customer preferences. Key trends during the forecast period include advancements in coating formulation technology, the use of waterborne coatings for environmental compatibility, growing adoption of UV-cured coatings, the increasing popularity of matte finishes, the rise in adoption of clearcoat technologies, and increased spending on training and certification.
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How Are Market Trends and Innovations Revolutionizing theAutomotive Refinish Coatings Industry in Recent Times?
Cutting-edge technology is becoming a prominent trend in the automotive refinish coatings industry. Premium market players are leveraging advanced technologies to maintain their market dominance. For instance, PPG Industries, Inc., an American paint and coating manufacturing firm, rolled out the PPG DP7000 Air-Dry Primer in November 2023. This product was introduced across the automotive refinish markets in Europe, the Middle East, and Africa. As a superior-quality two-pack acrylic primer, it aligns with European regulations on volatile organic compounds (VOCs) and is perfectly suited to PPG’s topcoat systems. Thanks to its quick air drying capability, it optimizes productivity and decreases energy use. The PPG DP7000 can dry up to twice as fast as its market competitors, is effective in all humidity levels and can facilitate baking or infrared curing when needed. Its innovative features not only boost profitability for bodyshops but also decrease their environmental footprint.
Which Key Market Players Are Shaping the Future and Growth of theAutomotive Refinish Coatings Market?
Major companies operating in the automotive refinish coatings market are KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, KAPCI Coatings Company, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel N.V., Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, Alps Coating Sdn Bhd, Masco Corporation, Jotun AS, Hempel A/S, Berger Paints Ltd., Lord Corporation, Beckers Group, Cabot Corporation, HMG Paints Limited, Shanghai Kinlita Chemical Co. Ltd., Tikkurila Oyj, Karl WÖRwag Lack- Und Farbenfabrik Gmbh & Co. Kg, Duluxgroup (Investments) Pty. Ltd., Carpoly Co. Ltd., Kangnam Jevesco Co. Ltd., Mankiewicz Gebr. & Co., Shawcor Ltd.
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What Are the Core Segments of the Automotive Refinish Coatings Market, and How Do They Contribute to Growth?
The automotive refinish coatings market covered in this report is segmented –
1) By Product Type: Primer, Basecoat, Clearcoat, Activator, Filler And Putty
2) By Technology: Solvent-borne Coatings, Water-Borne Coatings, UV-Cured Coatings, High Solid Coatings, Powder Coatings
3) By Resin: Polyurethane, Alkyd, Acrylic, Epoxy
4) By Application: Passenger Cars, Commercial Vehicles, Two-Wheeler
5) By End Use: OEM, Aftermarket
Subsegments:
1) By Primer: Epoxy Primers, Urethane Primers, Wash Primers
2) By Basecoat: Solvent-Based Basecoats, Water-Based Basecoats, Metallic Basecoats
3) By Clearcoat: Urethane Clearcoats, Acrylic Clearcoats, High Solid Clearcoats
4) By Activator: Hardener Activators, Thinner Activators
5) By Filler And Putty: Polyester Fillers, Epoxy Fillers, Spot Putty
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