Automotive Refinish Coating Market To Reach $19.06 Billion By 2030

Automotive Refinish Coating Market Growth & Trends

The global automotive refinish coating market size  is expected to reach  USD 19.06 billion in 2030 and is projected to grow at a CAGR of 6.8% from 2024 to 2030. 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 water-borne segment is expected to register the fastest CAGR during the forecast period 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. 

Basecoat accounted for the largest revenue share in 2023, 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. 

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Automotive Refinish Coating Market Report Highlights

• The acrylic segment is expected to register the fastest CAGR during the forecast period. The product will show growth in light of its high usage in waterborne technology. Furthermore, superior properties including resistance to stain, blistering, cracking, and extreme temperatures will fuel its demand over the forecast period.

• North America automotive refinish coating market is anticipated to witness significant growth and is expected to witness significant gains in light of growing need for repair, maintenance, and customization over the upcoming years.

• Automotive refinish coatings industry is dominated by key participants including BASF, Axalta Coating Systems, PPG Industries, AkzoNobel, and Sherwin-Williams. Ongoing product development by various companies to manufacture high-performance and cost-efficient coatings is expected to augment product consumption over the next eight years.

Automotive Refinish Coating Market Segmentation

Grand View Research has segmented the global automotive refinish coating market report based on resin, technology, product, vehicle age, and region:

Automotive Refinish Coating Resin Outlook (Revenue, USD Million, 2018 - 2030)

• Acrylic

• Alkyd

• Polyurethane

• Others

Automotive Refinish Coating Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Solvent-borne

• Water-borne

• Others

Automotive Refinish Coating Product Outlook (Revenue, USD Million, 2018 - 2030)

• Primer

• Basecoat

• Topcoat

• Fillers

• Others

Automotive Refinish Coating Vehicle Age Outlook (Revenue, USD Million, 2018 - 2030)

• <5

• 5 to 10

• >10

Automotive Refinish Coating Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Belgium

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • South Africa

List of Key Players in Automotive Refinish Coating Market

• BASF SE

• Akzo Nobel N.V.

• PPG Industries, Inc.

• Axalta Coating Systems

• Berger Paints India Limited

• Cabot Corporation

• Clariant

• NOROO Paint & Coatings co. Ltd.

• Alsa Refinish and The Alsa Corporation

• The Dow Chemical Company