Authored By: Sarah
18 Jun 2021

Automotive Refinish Coatings Market Size to Grow by $ 1.69 bn through 2020-2024 | Forecast and Trend Analysis

Technavio has been monitoring the automotive refinish coatings market and it is expected to grow by $ 1.69 bn, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Automotive Refinish Coatings Market: Emerging Trends to Impact Market Growth

Focus on r&d and innovative methods to reduce the cycle time to emerge as a key trend in the industrial automotive refinish coatings market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Automotive Refinish Coatings Market Size to Grow by $ 1.69 bn through 2020-2024 | Trend Analysis and Forecasts

Automotive Refinish Coatings Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 3M Co., Akzo Nobel NV, Arkema SA, Axalta Coating Systems Ltd., BASF SE, Clariant International Ltd., Covestro AG, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., and The Sherwin-Williams Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of almost 3%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 1.69 bn through 2020-2024.

     
  3. What is a key factor driving this market?
    increasing adoption of UV-curable coating will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    44% growth will originate from APAC

     
  6. Who are the leading market vendors?
    The leading vendors in this market are 3M Co., Akzo Nobel NV, Arkema SA, Axalta Coating Systems Ltd., BASF SE, Clariant International Ltd., Covestro AG, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., and The Sherwin-Williams Co.

     
  7. What are the market segments covered in this report?
    The market is segmented by Type (Solvent-based coatings, Water-based coatings, and Others) and Geography (APAC, Europe, North America, South America, and MEA)
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