Market Overview:
The global vehicle refinish paint market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The growth in the market can be attributed to the increasing demand for passenger cars, light commercial vehicles (LCVs), and trucks across the globe. In addition, rising awareness about vehicle protection and durability is also propelling the demand for refinish paints globally. Based on type, polyurethane is expected to be the fastest growing segment during the forecast period owing to its superior properties such as high gloss finish, excellent weather resistance, and long-term durability. Epoxy followed by acrylic are other major types of vehicle refinish paints used globally. Passenger cars are anticipated to account for a majority share of global vehicle refinish paint market in terms of volume during 2018-2030 owing to increase in sales across developed as well as developing countries.
Product Definition:
Vehicle refinish paint is a type of paint that is used to refinish or repaint a vehicle. It is typically applied over the existing finish on a vehicle in order to improve its appearance. Vehicle refinish paint can be used to change the color of a vehicle, to cover up scratches or blemishes, or to restore the finish of a damaged vehicle.
Polyurethane:
Polyurethane (PU) is a polymer, which is extensively used in the automotive refinish paint market. It has excellent properties such as abrasion resistance, solvent resistance and high heat & chemical resistance. The growth factor for PU in vehicle refinish paint market can be attributed to its characteristics such as it does not fade away when exposed to sunlight or any other natural source of light; it remains colorless and also has excellent scratch & mar resistance property.
Epoxy:
Epoxy resins are synthetic compounds, which are made up of carbon and hydrogen. They have a crystalline structure and can be either thermosetting or amorphous in nature. The epoxy resin market is segmented on the basis of product types such as polyether ether ketone (PEEK), phenolic, silicone, urethane and acrylic among others.
Application Insights:
The passenger car segment led the global vehicle refinish paint market in 2017 and is projected to expand at a revenue-based CAGR of XX% over the forecast period. The growth can be attributed to rising sales of passenger cars in developing countries, such as India, China, Thailand and Indonesia. In addition, increasing demand for high-quality paints with better durability and lower maintenance cost is expected to drive the segment growth over the coming years.
LCV was the second largest application segment for vehicle refinish paints in 2017 owing to growing demand from emerging economies including Brazil, Argentina and South Africa for used lorries that are refurbished or repainted before being sold again as new goods carriers. LCVs include trucks ranging from 10 tons up to 53 tons capacity that caterto specific transport needs across various regions worldwide including Europe and Asia Pacific regionally speaking.
Regional Analysis:
Asia Pacific was the largest market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 35% in vehicle refinish paint market owing to increasing demand from developing countries such as India, China, and Indonesia. Moreover, rising disposable income coupled with growing population will boost automobile sales which will further drive growth.
The Asia Pacific economy is driven by rapid urbanization along with industrialization and economic development resulting in high automotive production across key markets including China, Japan, South Korea, Taiwan among others. This has resulted an increase in the number of vehicles on roadways which has increased opportunities for refurbishing old vehicles through various methods including vehicle restoration or modification using different types of paints etc., Vehicle refinishing using coatings such as polyurethane or epoxy based products offers cost-effective solutions for both cosmetic appeal as well as functional requirements associated with outlasting counterparts such as acrylics or enamels etc.
Growth Factors:
- Increasing demand for luxury and customized vehicles
- Rising disposable income of consumers in developing countries
- Technological advancements in the automotive industry
- Stringent environmental regulations for vehicle emissions
- Growing popularity of paintless dent removal
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Refinish Paint Market Research Report
By Type
Polyurethane, Epoxy, Acrylic, Others
By Application
Passenger Car, LCV, Truck, Bus
By Companies
Axalta Coating Systems, PPG Industries, BASF, Akzonobel, Sherwin-Williams, 3M, Kansai Paint, Nippon Paint, KCC, Donglai Coating, Noroo Paint & Coatings, Guangzhou Zhenroumei Chemical Coatings
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Refinish Paint Market Report Segments:
The global Vehicle Refinish Paint market is segmented on the basis of:
Types
Polyurethane, Epoxy, Acrylic, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, LCV, Truck, Bus
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Axalta Coating Systems
- PPG Industries
- BASF
- Akzonobel
- Sherwin-Williams
- 3M
- Kansai Paint
- Nippon Paint
- KCC
- Donglai Coating
- Noroo Paint & Coatings
- Guangzhou Zhenroumei Chemical Coatings
Highlights of The Vehicle Refinish Paint Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Polyurethane
- Epoxy
- Acrylic
- Others
- By Application:
- Passenger Car
- LCV
- Truck
- Bus
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vehicle Refinish Paint Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vehicle refinish paint is a type of paint that is used to restore the original color of a car or truck. It is typically used on older vehicles that have been damaged by weather, sun, or other elements.
Some of the key players operating in the vehicle refinish paint market are Axalta Coating Systems, PPG Industries, BASF, Akzonobel, Sherwin-Williams, 3M, Kansai Paint, Nippon Paint, KCC, Donglai Coating, Noroo Paint & Coatings, Guangzhou Zhenroumei Chemical Coatings.
The vehicle refinish paint market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vehicle Refinish Paint Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vehicle Refinish Paint Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vehicle Refinish Paint Market - Supply Chain
4.5. Global Vehicle Refinish Paint Market Forecast
4.5.1. Vehicle Refinish Paint Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vehicle Refinish Paint Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vehicle Refinish Paint Market Absolute $ Opportunity
5. Global Vehicle Refinish Paint Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vehicle Refinish Paint Market Size and Volume Forecast by Type
5.3.1. Polyurethane
5.3.2. Epoxy
5.3.3. Acrylic
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vehicle Refinish Paint Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vehicle Refinish Paint Market Size and Volume Forecast by Application
6.3.1. Passenger Car
6.3.2. LCV
6.3.3. Truck
6.3.4. Bus
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vehicle Refinish Paint Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vehicle Refinish Paint Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vehicle Refinish Paint Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vehicle Refinish Paint Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vehicle Refinish Paint Demand Share Forecast, 2019-2026
9. North America Vehicle Refinish Paint Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vehicle Refinish Paint Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vehicle Refinish Paint Market Size and Volume Forecast by Application
9.4.1. Passenger Car
9.4.2. LCV
9.4.3. Truck
9.4.4. Bus
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vehicle Refinish Paint Market Size and Volume Forecast by Type
9.7.1. Polyurethane
9.7.2. Epoxy
9.7.3. Acrylic
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vehicle Refinish Paint Demand Share Forecast, 2019-2026
10. Latin America Vehicle Refinish Paint Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vehicle Refinish Paint Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vehicle Refinish Paint Market Size and Volume Forecast by Application
10.4.1. Passenger Car
10.4.2. LCV
10.4.3. Truck
10.4.4. Bus
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vehicle Refinish Paint Market Size and Volume Forecast by Type
10.7.1. Polyurethane
10.7.2. Epoxy
10.7.3. Acrylic
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vehicle Refinish Paint Demand Share Forecast, 2019-2026
11. Europe Vehicle Refinish Paint Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vehicle Refinish Paint Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vehicle Refinish Paint Market Size and Volume Forecast by Application
11.4.1. Passenger Car
11.4.2. LCV
11.4.3. Truck
11.4.4. Bus
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vehicle Refinish Paint Market Size and Volume Forecast by Type
11.7.1. Polyurethane
11.7.2. Epoxy
11.7.3. Acrylic
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Groth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vehicle Refinish Paint Demand Share, 2019-2026
12. Asia Pacific Vehicle Refinish Paint Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vehicle Refinish Paint Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vehicle Refinish Paint Market Size and Volume Forecast by Application
12.4.1. Passenger Car
12.4.2. LCV
12.4.3. Truck
12.4.4. Bus
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vehicle Refinish Paint Market Size and Volume Forecast by Type
12.7.1. Polyurethane
12.7.2. Epoxy
12.7.3. Acrylic
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vehicle Refinish Paint Demand Share, 2019-2026
13. Middle East & Africa Vehicle Refinish Paint Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vehicle Refinish Paint Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vehicle Refinish Paint Market Size and Volume Forecast by Application
13.4.1. Passenger Car
13.4.2. LCV
13.4.3. Truck
13.4.4. Bus
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vehicle Refinish Paint Market Size and Volume Forecast by Type
13.7.1. Polyurethane
13.7.2. Epoxy
13.7.3. Acrylic
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vehicle Refinish Paint Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vehicle Refinish Paint Market: Market Share Analysis
14.2. Vehicle Refinish Paint Distributors and Customers
14.3. Vehicle Refinish Paint Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Axalta Coating Systems
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. PPG Industries
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. BASF
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Akzonobel
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sherwin-Williams
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. 3M
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kansai Paint
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Nippon Paint
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. KCC
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Donglai Coating
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Noroo Paint & Coatings
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Guangzhou Zhenroumei Chemical Coatings
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
