Latest News- Automotive Refinish Coatings Market: Solvent-based coatings is expected to lead the Type segment during 2025-2029

The Automotive Refinish Coatings Market is being driven by Increased focus on research and development and innovative methods to reduce cycle time

The Automotive Refinish Coatings Market is expected to grow at a CAGR of 3.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2346.4 million. In the automotive refinish coatings market, UV-curable coatings are gaining significant attention due to their superior performance attributes. Companies are investing heavily in R&D to produce UV-curable coatings that offer enhanced scratch and mar resistance. BASF, for instance, provides a range of multi-functional polyol intermediates for manufacturing UV-curable acrylic monomers and oligomers, which are integral to UV-curable coatings. BASF's UV-curable coating technology delivers environmental compatibility, high performance, and processing efficiency. Similarly, Akzo Nobel offers a UV-curable clearcoat for automotive refinish coatings, providing superior application, appearance, and protection characteristics compared to traditional two-component clearcoats. These advancements underscore the industry's commitment to innovation and sustainability in the automotive refinish coatings market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Solvent-based coatings
  • Water-based coatings
  • Others
• Application
  • Passenger cars
  • Light commercial vehicles
  • Heavy commercial vehicles
• Resin Type
  • Polyurethane
  • Alkyd
  • Acrylic
  • Epoxy
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased focus on research and development and innovative methods to reduce cycle time
• Support services leading to efficient use of coatings
• Economic stability associated with increasing disposable income

However, the market also witnesses some limitations, which are as follows:

• Increasing supply-demand imbalance
• Stringent regulations on solvent-based coatings
• Fluctuation in raw material prices of automotive refinish coatings

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Market Scope in Automotive Refinish Coatings Market Research Report

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Research Analysis Overview

The Automotive Refinish Coatings Market involves the analysis of coating compositions and rheology for optimal application. Surface tension measurement, pigment volume concentration, and binder selection are crucial factors. Coating application efficiency, drying time, and cure schedule optimization are essential for productivity. Automotive color standards, metallic effect, pearlescent, and special effect coatings are popular. Coating defects like orange peel effect, cratering, fisheye, pinholes, and failure modes are analyzed. Adhesion failure and degradation mechanisms, including UV resistance, weatherability, salt spray, impact resistance, and tensile strength testing, are crucial for coating durability and lifespan prediction.

Market Research Overview

The Automotive Refinish Coatings Market is a segment of the larger Commodity Chemicals Market, focusing on the production of industrial and basic chemicals, specifically urethane coatings, acrylic lacquer coatings, epoxy coatings, and polyester coatings. This market excludes companies producing diversified chemicals, fertilizers, agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the global Commodity Chemicals Market size is determined by the consolidated revenue of manufacturers dealing in industrial and basic chemicals. Key growth drivers for this market include the increasing demand for lightweight, corrosion-resistant materials in the automotive industry, leading to continuous innovation in coatings technology for improved performance and durability in automotive refinish applications. Additionally, the growing trend towards sustainable and eco-friendly coatings is expected to provide significant opportunities for market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/