What are the growth prospects and trends of the Global Automotive Refinish Coatings Market?
The automotive refinish coatings market has exhibited considerable growth in recent years, escalating from $9.7 billion in 2024 to $10.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. This growth in the historical period has been driven by factors such as an increased number of vehicles on the road, rising incidence of accidents, consumer preferences for aesthetics, and global expansion of the automotive market.
For the years ahead, the automotive refinish coatings market size is anticipated to proliferate robustly, reaching $13.16 billion in 2029 at a CAGR of 6.5%. The expected market growth can be ascribed to advancements in coating formulations, increased emphasis on sustainability, the rising demand for high-performance coatings, digital color-matching solutions, and changing consumer preferences. Major trends for the forecast period include the rise in adoption of UV-cured coatings, the growing popularity of matte finishes, and increased investment in training and certification.
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What are the key drivers propelling the growth of the Automotive Refinish Coatings Market?
The rising number of accidents is a significant driver propelling the growth of the automotive refinish coatings market. Automotive refinish coatings are utilized to cover the damages inflicted to the vehicle body due to accidents. According to the National Highway Traffic Safety Administration, an estimated 2.38 million people were injured in motor vehicle crashes in 2022, in comparison to 2.50 million in 2021, which underscores the importance of these coatings in catering to vehicle repair and maintenance needs.
What are the major segments in the Automotive Refinish Coatings Market?
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
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Who are the leading players in the Automotive Refinish Coatings Market?
The major companies leading the automotive refinish coatings market include KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel N.V., KAPCI Coatings Company, 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.
What are the emerging trends in the Automotive Refinish Coatings Market?
Technological advancements are leading the trends within the automotive refinish coatings market. Companies in the industry are taking advantage of these advancements to maintain their market standing. An example is the November 2023 launch by PPG Industries, Inc. of the PPG DP7000 Air-Dry Primer in the automotive refinish markets in Europe, the Middle East, and Africa. This state-of-the-art two-pack acrylic primer is compliant with European volatile organic compound (VOC) regulations and is compatible with PPG’s topcoat systems.
Which region plays a leading role in the Automotive Refinish Coatings Market?
Asia-Pacific was the largest region in the automotive refinish coatings market in 2024. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What does the Automotive Refinish Coatings Market Report 2025 Offer?
Automotive refinish coatings are composed of alkyd, polyurethane, and acrylic and are utilized by body shops and repair centers. These coatings are applied on vehicles to cover damages caused by accidents, stones, or temperature fluctuations. The Automotive Refinish Coatings Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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