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Automotive Refinish Coatings Market with Current Trends Analysis -2024

Rising demand for automotive refinish coatings as they improve the durability and enhance the appearance of vehicles will fuel market growth over the next eight years. Furthermore, aging of vehicles, rising demand for repair, maintenance, and aftermarket modifications will augment product demand over the forecast period.

The Global Automotive Refinish Coatings Market is expected to reach USD 14.88 billion by 2024, according to a new report by Grand View Research, Inc.
 

The waterborne technology was valued at USD 3.40 billion in 2015 and is expected to witness significant rise on account of excellent heat resistance, adhesion, and abrasion properties. Furthermore, its advantage over solvent borne coatings including less toxicity, less flammability, and reduction of air emissions will propel market growth over the forecast period.

The basecoat is expected to witness significant revenue rise at a CAGR of 6.9% from 2016 to 2024 over the forecast period as it provides color, decorative effects and exterior aesthetic to vehicles. Increasing demand for solid basecoats in motorcycles, trucks and cars owing to the ease of application coupled with basic color effect will increase industry size.

North America accounted for 22.8% of the global revenue share in 2015 and is expected to witness significant gains in light of growing need for repair, maintenance, and customization over the upcoming years.

To Know More About Automotive Refinish Coatings Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/automotive-refinish-coatings-market

Latin America will witness significant revenue growth at a CAGR of 6.6% from 2016 to 2024 as a result of increasing automotive vehicle sales in Argentina, Brazil, and Columbia. Prevalence of road accidents along with the growing trend of recreational vehicles in Brazil will fuel industry expansion.

Top Players of Automotive Refinish Coatings Market:

Key participants including BASF, Axalta Coating Systems, PPG Industries, AkzoNobel, and Sherwin-Williams.

Market Segmentation of Automotive Refinish Coatings Market:

The Global Automotive Refinish Coatings Market segmented on the basis of Resin Type, Technology, Product, Vehicle Age, and Region.

By Resin Type:

    Acrylic
    Alkyd
    Polyurethane

By Technology:

    Solventborne
    Waterborne
    UV-Cured

By Product:

    Primer
    Filler
    Basecoat
    Topcoat

By Age:

    <5
    5-10
    >10

By Region:

    North America
    Europe
    Asia Pacific
    Latin America
    MEA

Inquire about Automotive Refinish Coatings Market with Our Experts @ https://www.grandviewresearch.com/inquiry/3002

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