Automotive Refinish Coatings Market To Reach USD 11.34 Billion By 2026
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Market Summary The global automotive refinish coatings market is expected to reach USD 11.34 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing disposable income, changing lifestyle and buying behavior of people, and the demand for luxury vehicles from the segment. Automotive refinishing coatings are used by the end-users, to address the growing need for up-to-date maintenance and servicing of vehicles to enhance the look and durability of the vehicles and by protecting them from damages due to harsh temperatures and UV radiation. Developments and innovations in coatings, such as high-tech eco-friendly coating materials having low solvent content is another factor fueling the growth of the market.
The passenger vehicles segment had the largest market share of ~43% of the market in 2018, in terms of revenue. The demand is expected to substantially increase because of high disposable incomes, changing buying behavior and demand for luxury cars.
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Stringent regulations regarding various VOC-containing products is one of the factors restraining the growth of the market. The use of VOC-containing products, releases VOCs causing air pollution and smog, to improve the same, Governments of many countries have implemented a series of control measures.
Based on type, the planar segment will lead the market during the forecast period owing to low power losses and high transformation ability. Based on mobility, the stationery segment is expected to lead concomitantly with its growing applications in residential, combined heat & power (CHP), and uninterrupted power supply. Based on the application, the power generation segment is expected to lead the way. North America holds majority of the market shares, with a 45% share in 2017, and will continue to add to the market in the future. Europe will soon catch up, as it is speculated to deliver a promising growth rate with the increasing public-private sector relationship, rise in the price of oil and demand from end-users like power suppliers and the automotive industry, among others.
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic, which has cut the need for Automotive Refinish Coatings for construction in the market. Over a couple of months, there will be a series of both positive and negative shocks, as manufacturers and their suppliers respond to providers changing needs. With an unfortunate global situation, the export-dependent economies of many regions look vulnerable.
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The COVID-19 impact:
Companies considered and profiled in this market study: PPG Industries Inc., The Sherwin Williams Company, Axalta Coating systems Ltd., AzkoNobel N.V BASF SE, Convestro AG, Kansai Paints Co. Ltd., Esdee Paint Ltd., KCC Corporation, KAPCI Coating Co. Ltd., NOROO Paint & Coatings Co. Ltd, The Lubrizol Corporation, S.Coat Co., Ltd., Nippon Paint Holding Co. Ltd., and Berger Paints India Ltd., among others. Get Free Report Sample @ https://www.reportsanddata.com/sample-enquiry-form/1248
Based on the application, the pit and fissure sealant segmented is more likely to drive the industry forward. It is speculated to be the largest segment of the dental adhesive industry owing to the budget-friendly dental filling, as well as their increased efficacy in filling up the cavities. The younger generation is more prone to dental cavities, and so they form the major consumer base of this application.
End-User Outlook: Based on the end-use, dental clinics and hospitals are predicted to hold the largest share in the end-user segment credited to the rising patient population, adoption of innovative and advanced dental technology, and an increase in the tally of hospitals and clinics. On the other hand, the rising prevalence of cosmetic dentistry and restorative dentistry are fueling the expansion of the dental adhesives market.
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Application Outlook:
For the purpose of this report, Reports and Data have segmented into the global Automotive Refinish Coatings Market for Construction on the basis of type, end-use, application, and region: Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026) Epoxy Alkyd Polyurethane Others
Primer Basecoat Clearcoat Activator Filler Putty
Technology Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026) Solvent-borne Coatings Water-borne Coatings
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Product Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• North America • U.S • Europe • U.K • France • Asia Pacific • China • India • Japan • MEA • Latin America • Brazil Browse Complete Report “Automotive Refinish Coatings Market for Construction By Type, By EndUse, By Application, By Region, Forecasts To 2017-2027” @ https://www.reportsanddata.com/report-detail/automotive-refinish-coatings-market
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Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Further key findings from the report suggest
The market is segmented on the basis of resin type into epoxy, alkyd, polyurethane, others. The polyurethane segment dominated the market in 2018, and is forecasted to grow at a CAGR of 2.2% during the forecast period, since it is less expensive, environment-friendly and also versatile. The market is segmented on the basis of product into primer, basecoat, clear coat, activator, filler & putty. Clear coats, which provide protection to the paint on the vehicles from sun, dust or water, hold the largest share of the market in 2018. It is expected to have a growth rate of 3.4% during the forecast period.
Solvent-borne coatings hold the largest share in the market in 2018 with a CAGR of 2.9% during the forecast period, the reason is because of its cost effectiveness as compared to other technologies. The market is segmented on the basis of applications into commercial vehicles, passenger vehicles, and two wheelers.
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The market is segmented on the basis of technology into solvent-borne coatings, water-borne coatings, and UV-cured coatings.
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