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, there is a growing trend towards UV-curable coatings due to their superior performance attributes. These coatings offer high adhesion, film flexibility, and scratch and mar resistance. Companies such as BASF and Akzo Nobel are leading this innovation, investing in research and development to produce UV-curable coatings with enhanced functionality. BASF's multi-functional polyol intermediates are used to manufacture UV-curable acrylic monomers and oligomers, providing environmental compatibility, high performance, and processing efficiency. Akzo Nobel's UV-curable clearcoat for automotive refinish coatings delivers superior application, appearance, and protection characteristics compared to traditional two-component clearcoats. Both companies' UV-curable coating technologies offer significant benefits to the industry. 

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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 encompasses various products such as Acrylic Enamel, Epoxy Primer, High Build Primer, Body Filler, Sandable Primer, Etching Primer, Anti-Chip Coating, Single-Stage Coating, Two-Stage Coating, and Basecoat-Clearcoat System. These coatings differ in their properties like Pigment Dispersion, Curing Time, Film Thickness, Abrasion Resistance, Water Resistance, Solvent Release, Flash Point, Health and Safety, and Regulatory Compliance. VOC Regulations, Air Quality, Waste Management, Recyclable Coatings, Sustainable Packaging, Life Cycle Analysis, Color Formulation Software, Color Library, Color Matching Tools, Spray Gun Technology, Automated Spraying Systems, Robotic Painting, Digital Imaging, Virtual Reality Refinishing, Augmented Reality Refinishing, Refinishing Training, Certification Programs, and Industry Standards are essential considerations in this market. Quality Control is a key factor ensuring the production of superior coatings.

Market Research Overview

The Automotive Refinish Coatings Market encompasses businesses specializing in the production of solvent-based, water-based, high-performance, OEM, and aftermarket coatings for collision repair. This market segment falls under the broader category of commodity chemicals, which includes manufacturers of industrial and basic chemicals such as plastics, synthetic fibers, films, commodity-based paints and pigments, and petrochemicals. According to Technavio, the global commodity chemicals market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for this market include the increasing demand for lightweight, corrosion-resistant materials in the automotive industry, leading to continuous innovation in high-performance coatings, and the growing preference for water-based coatings due to environmental regulations.. 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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