Global Refinish Paint Market for Automotiv
Global Refinish Paint Market for Automotive was valued at US$ 7.50 Bn in 2019 and is expected to reach US$ 10.80 Bn by 2026, at a CAGR of 4.66 % during a forecast period.
Refinish paints are used to enhance the facade. It helps to recover damages by external factors like accident and extreme temperature conditions.
Global Refinish Paint Market for Automotive: Dynamics
The automobile industry is a main pillar of the global economy. An increase in the production of automotive vehicle production and the adoption of sustainable and environment-friendly painting products are some of the prominent factors behind the global refinish paint market for automotive. On the other hand, fluctuations in the cost of raw material are expected to limit the market growth.
The MMR report covers the detailed analysis of market dynamics by each region. The report also includes the analysis of the impact of the COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Global Refinish Paint Market
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Polyurethane Resins are expected to hold the largest share in the Refinishing Paint Market
Polyurethane resins are expected to contribute XX% share in the global market. It helps to formulate automotive coatings with gloss and an excellent finish. The maximum share contribution by polyurethane resins is expected to attribute to its resistance to UV rays, chemicals, and corrosion. It also delivers superior durability, which helps to reduce maintenance requirements. Polyurethane resin is widely preferred from automotive OEM & luxury vehicles coatings to commercial, agricultural, defense & plastic layers.
The Asia Pacific, an emerging market
The Asia-Pacific region is one of the largest regional consumers for refinishing automotive paint because of the presence of large-scale production of conformal coatings. This trend is expected to continue in the near future as a result of the rapid expansion of the automotive industry in developing economies like China, India, South Korea, Taiwan, and other developing countries. The automotive industry is one of the most significant contributors to the regional economy.
Global Refinish Paint
India: An emerging manufacturing hub for the auto industry
India is one of the largest auto industries with an annual production of more than 25.3 million vehicles. The government of India has recognized the importance of the automotive sector. They have included it amongst 13 priority sectors for the Make in India 2.0 plan. The Indian automotive sector is projected to have the potential to produce more than 100 billion in annual revenue by 2026. The strong auto value chain of India is promoting OEMs to focus on next-generation platforms a
nd solutions.
Global Refinish Paint Market
Prominent market key players are working to demonstrate the opportunity to represent a wider audience in refinish paints.
Automotive refinish paint key players are expected to focus on travel and vehicle use and virtual tools for recovery. For automotive refinish brands, durability is one of the most important factors, which consumer look far. Key players operating in the market are concentrating on the deployment of long-lasting, fast-curing, scratch-resistant coatings, which are widely preferred because of their ability to keep the vehicle looking new for longer.
The key players follow strict regulation policies and develop sustainable technologies to ensure both solvent-based and waterborne coatings are environment friendly. Some of the prominent key players are introducing innovative products to increase their revenue. For instance, Nippon Paint has launched a new international automotive refinish product system under the n-MAX brand. By launching the n-MAX brand, Nippon Paint is expanding its presence in the Indian and International car refinishing markets.
Prominent market key players
The objective of the report is to present a comprehensive analysis of the Refinish Paint Market for Automotive including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Refinish Paint Market for Automotive dynamics, structure by analyzing the market segments and projects the Global Refinish Paint Market for Automotive size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Refinish Paint Market for Automotive makes the report investor’s guide.
Scope of the Global Refinish Paint Market for Automotive: Inquire before buying
Global Refinish Paint Market
Global Refinish Paint Market for Automotive, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Refinish Paint Market for Automotive Key Players
• Axalta Coating Systems
• PPG Industries
• BASF
• Akzonobel
• Sherwin-Williams
• 3M
• Kansai Paint
• Nippon Paint
• Donglai Coating
• Novol
• Cresta Paint Industries
• TOA Performance Coating
• HMG Paints
• Weg Group
• Samhwa Paints Industrial
• Alps Coatings
• Rock Paint
• James Briggs
• Mipa
• Noroo Paint & Coatings
• Lubrizol
• Kapci Coatings
• Guangzhou Zhenroumei Chemical Coatings
• Besa
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