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 properties. These coatings offer high performance, adhesion, and film flexibility. Companies, such as BASF and Akzo Nobel, are investing in research and development to produce UV-curable coatings with enhanced scratch and mar resistance. BASF's UV-curable coating technology utilizes multi-functional polyol intermediates for manufacturing acrylic monomers and oligomers, delivering environmental compatibility, high performance, and processing efficiency. Similarly, Akzo Nobel's UV-curable clearcoat for automotive refinish coatings provides superior application, appearance, and protection characteristics compared to traditional two-component clearcoats. 

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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 types of coatings, including Solvent-Based Coatings, Water-Based Coatings, Two-Component Coatings, and Single-Component Coatings. These coatings offer features like Direct-to-Metal Coatings, Epoxy Primers, Acrylic Primers, High-Build Primers, Sealer Coatings, Anti-Corrosion Coatings, and Rust Prevention. Additionally, there are Chip Resistance, Stone Chip Resistance, UV-Curable Coatings, Infrared Curing, and Electrostatic Spraying technologies. The market also includes Solvent Recovery Systems, Paint Recycling, and Waste Management solutions. Training programs for Automotive Refinishing, such as Technician Certification, Color Matching Systems (Online and Mobile), Paint Mixing Ratios, and Paint Formulation, are essential. Surface Preparation involves techniques like Sanding and Masking, while Paint Application Techniques, Quality Control, Inspection Procedures, Refinishing Process Optimization, and Refinishing Efficiency are crucial for ensuring a high-quality finish.

Market Research Overview

The Automotive Refinish Coatings market is a segment of the larger Commodity Chemicals industry, focusing on the production of waterborne, solventborne, high-performance, OEM, and aftermarket coatings. This market encompasses businesses specializing in industrial and basic chemicals, specifically those producing plastics, synthetic fibers, films, paints and pigments, and petrochemicals, excluding those engaged in diversified chemicals, fertilizers, agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the global Commodity Chemicals market's growth is attributed to the escalating demand for plastic packaging. As plastic is the predominantly used material in the packaging industry, the increasing preference for lightweight, corrosion-resistant materials has instigated continuous innovation, significantly influencing the application of chemicals in the manufacturing process of plastic packaging materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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