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Published Date: 2016-09-07Number of Pages: 135

Automotive Refinish Coatings Market (Product Type - Primer, Base Coat, Clear Coat, Activator, Filler; By Technology - Solvent Borne Coatings, Water Borne Coatings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

The global market for automotive refinish coatings is on the brink of a key transformation – shift from solvent-based to water-based coatings. Strict regulatory reforms related to VOC emissions, especially across developed economies such as North America and Europe, have led to a decline in the global consumption of solvent-based coatings in the past few years. Solvent-based coatings being the dominant revenue-generator of the global automotive refinish coatings market, this trend has dealt a huge blow to the market’s overall growth prospects. Nevertheless, it has also led to an increased focus on the development of water-borne products, which are known to have lesser negative impact on the environment.

Transparency Market Research estimates that the global automotive refinish coatings market will exhibit a healthy 5.7% CAGR over the period between 2016 and 2024. At this pace, the market, which had a valuation of US$6.6 bn in 2015, holds the prospects of rising to US$10.8 bn by 2024.

automotive-refinish-coatings-market

 

Activators to Emerge Most Promising Product Variety in Market

On the basis of product varieties, the automotive refinish coatings market has been examined in the report for primers, clean coats, base coats, fillers, and activators. Of these, the segment of base coat accounted for a dominant share of over 30% of the overall market 2015. A significant rise in the used vehicle market and rising numbers of road accidents have resulted in growth of the base coat market in the past few years. The market share of this product segment is, however, expected to decline moderately across the forecasting horizon owing to the increasing availability of internal substitutes such as additives with primer.

The segment of activators is expected to witness the most prominent growth in the global automotive refinish coatings market in the next few years, due to its property of drying the coatings faster. The expansion of car parc in emerging economies is expected to augment the usage of activators in the global market, allowing it to witness a rise in its share from 12.6% in 2016 to 14% in the global market by 2024.

Rise in Repair and Maintenance Activities in Emerging Economies to Grant Traction to Asia Pacific Market

From a geographic perspective, North America accounted for a dominant share of the global automotive refinish coatings market followed by Asia Pacific and Europe in 2015. High disposable incomes and propensity of owners to undertake timely repairs of their vehicles are amongst the key factors influencing the growth of the market in North America. The growing market for used vehicles is also one of the key factors influencing the market’s growth in the region.  Strict regulatory reforms in North America are expected to have a negative impact on the demand for certain varieties of solvent-based automotive refinish coatings in the region over the forecast period.

The market for automotive refinish coatings in Asia Pacific is expected to exhibit growth at the most promising pace in the next few years owing to high demand for a variety of automotive refinish coatings across emerging economies such as China and India in the region. The significant rise in the population of affluent consumers in the region has boosted the frequency of vehicle repair and maintenance activities, which, in turn, is contributing to the high demand for automotive refinish coatings in Asia Pacific. China holds a dominant position in the used vehicle market and has high expansion rate of car parc, owing to which the automotive refinish coatings market has flourished in the country. Rising numbers of road accidents and the overall growth in the automobile sector are also stimulating the demand for automotive refinish coatings in China.

Some of the key vendors operating in the global automotive refinish coatings market are 3M., Akzo Nobel N.V., Axalta Coating Systems, BASF SE, KANSAI PAINT CO., LTD, Donglai Coating Technology, Nippon Paint Holdings Co. Ltd, PPG Industries, The Sherwin-Williams Company, and The Valspar Corporation. 

1. Preface
     1.1. Report Scope and Market Segmentation 
     1.2. Research Highlights

2. Assumptions and Research Methodology
     2.1. Assumptions and Acronyms Used
     2.2. Report Assumptions
     2.3. Research Methodology

3. Executive Summary
     3.1. Global Automotive Refinish Coatings Market Size, By Market Value (US$ Bn) and Market Value Share, By Region
     3.2. Top 3 Trends

4. Market Overview
     4.1. Product Overview
     4.2. Market Indicators

5. Market Dynamics
     5.1. Drivers and Restraints Snapshot Analysis
     5.2. Drivers
     5.3. Restraints
     5.4. Opportunity Analysis
     5.5. Global Automotive Refinish Coatings Market Analysis and Forecasts, 2015 – 2024
     5.6. Porter’s Analysis 
            5.6.1. Threat of New Entrants
            5.6.2. Threat of Substitutes
            5.6.3. Degree of Competition
            5.6.4. Threat of Suppliers
            5.6.5. Threat of Buyers
            5.6.6. Degree of Competition
     5.7. Value Chain Analysis 

6. Automotive Refinish Market Analysis and Forecast, By Product Type
     6.1. Primer, 2015 – 2024 (US$ Mn) (Kilo Tons) 
     6.2. Base Coat, 2015 – 2024 (US$ Mn)
     6.3. Clear Coat, 2015 – 2024 (US$ Mn
     6.4. Activator, 2015 – 2024 (US$ Mn)
     6.5. Filler, 2015 – 2024 (US$ Mn)
     6.6. Others, 2015 – 2024 (US$ Mn)
     6.7. Automotive Refinish Market Attractiveness Analysis By Product Type
     6.8. Key Trends

7. Global Automotive Refinish Market Analysis By Technology
     7.1. Solvent borne Coatings, 2015 – 2024 (US$ Mn) (Kilo Tons) 
     7.2. Water borne coatings, 2015 – 2024 (US$ Mn) (Kilo Tons) 
     7.3. Others, 2015 – 2024 (US$ Mn) (Kilo Tons) 
     7.4. Automotive Refinish Market Attractiveness Analysis, By Technology Type
     7.5. Key Trends

8. Automotive Refinish Market Analysis By Region
     8.1. Global Regulatory Scenario
     8.2. Global Automotive Refinish Market Value Share Analysis, By Region Type
     8.3. North America Automotive Refinish Market Analysis
            8.3.1. Key Findings
            8.3.2. North America Automotive Refinish Market Overview
            8.3.3. North America Market Value Share Analysis, By Product Type
            8.3.4. North America Market Forecast By Product Type
            8.3.5. North America Market Value Share Analysis, By Technology
            8.3.6. North America Market Forecast By Technology Type
            8.3.7. North America Market Value Share Analysis, By Country
            8.3.8. North America Market Forecast By Country
            8.3.9. North America Market Attractiveness Analysis
            8.3.10. Market Trends
     8.4. Asia Pacific Automotive Refinish Market Analysis
            8.4.1. Key Findings
            8.4.2. Asia Pacific Automotive Refinish Market Overview
            8.4.3. Asia Pacific Market Value Share Analysis, By Product Type
            8.4.4. Asia Pacific Market Forecast by Product Type
            8.4.5. Asia Pacific Market Value Share Analysis, By Technology
            8.4.6. Asia Pacific Market Forecast By Technology Type
            8.4.7. Asia Pacific Market Value Share Analysis, By Country
            8.4.8. Asia Pacific Market Forecast By Country
            8.4.9. Asia Pacific Market Attractiveness Analysis
            8.4.10. Market Trends
     8.5. Europe Automotive Refinish Market Analysis
            8.5.1. Key Findings
            8.5.2. Europe Automotive Refinish Market Overview
            8.5.3. Europe Market Value Share Analysis, By Product Type
            8.5.4. Europe Market Forecast By Product Type
            8.5.5. Europe Market Value Share Analysis, By Technology
            8.5.6. Europe Market Forecast By Technology Type
            8.5.7. Europe Market Value Share Analysis, By Country
            8.5.8. Europe Market Forecast By Country
            8.5.9. Europe Market Attractiveness Analysis
            8.5.10. Market Trends
     8.6. Middle East & Africa Automotive Refinish Market Analysis
            8.6.1. Key Findings
            8.6.2. Middle East & Africa Automotive Refinish Market Overview
            8.6.3. Middle East & Africa Market Value Share Analysis, By Product Type
            8.6.4. Middle East & Africa Market Forecast By Product Type
            8.6.5. Middle East & Africa Market Value Share Analysis, By Technology
            8.6.6. Middle East & Africa Market Forecast by Technology Type
            8.6.7. Middle East & Africa Market Value Share Analysis, By Country
            8.6.8. Middle East & Africa Market Forecast By Country
            8.6.9. Middle East & Africa Market Attractiveness Analysis
            8.6.10. Market Trends
     8.7. Latin America Automotive Refinish Market Analysis
            8.7.1. Key Findings
            8.7.2. Latin America Automotive Refinish Market Overview
            8.7.3. Latin America Market Value Share Analysis, By Product Type
            8.7.4. Latin America Market Forecast By Product Type
            8.7.5. Latin America Market Value Share Analysis, By Technology
            8.7.6. Latin America Market Forecast By Technology Type
            8.7.7. Latin America Market Value Share Analysis, By Country
            8.7.8. Latin America Market Forecast By Country
            8.7.9. Latin America Market Attractiveness Analysis
            8.7.10. Market Trends

9. Competition Landscape
     9.1. Automotive Refinish Market Share Analysis By Company 
     9.2. Akzo Nobel N.V
     9.3. BASF SE
     9.4. Axalta Coating Systems
     9.5. Donglai Coating Technology
     9.6. 3M
     9.7. KANSAI PAINT CO.,LTD
     9.8. PPG Industries
     9.9. Nippon Paint Holdings Co. Ltd
     9.10. The Valspar Corporation
     9.11. The Sherwin-Williams Company.

10. Company Profiles
     10.1. Akzo Nobel N.V
            10.1.1. Company Description
            10.1.2. Business Overview
            10.1.3. SWOT Analysis
            10.1.4. Financial Details
            10.1.5. Strategic Overview
     10.2. BASF SE
            10.2.1. Company Description
            10.2.2. Business Overview
            10.2.3. SWOT Analysis
            10.2.4.  Financial Details
            10.2.5. Strategic Overview
     10.3. Axalta Coating Systems
            10.3.1. Company Description
            10.3.2. Business Overview
            10.3.3. SWOT Analysis
            10.3.4. Financial Details
            10.3.5. Strategic Overview
     10.4. Donglai Coating Technology
            10.4.1. Company Description
            10.4.2. Business Overview
     10.5. 3M
            10.5.1. Company Description
            10.5.2. Business Overview
            10.5.3. SWOT Analysis
            10.5.4. Financial Details
            10.5.5. Strategic Overview
     10.6. KANSAI PAINT CO.,LTD
            10.6.1. Company Description
            10.6.2. Business Overview
            10.6.3. SWOT Analysis
            10.6.4. Financial Details
            10.6.5. Strategic Overview
     10.7. PPG Industries
            10.7.1. Company Description
            10.7.2. Business Overview
            10.7.3. SWOT Analysis
            10.7.4. Financial Details
            10.7.5. Strategic Overview
     10.8. Nippon Paint Holdings Co. Ltd
            10.8.1. Company Description
            10.8.2. Business Overview
     10.9. The Valspar Corporation
            10.9.1. Company Description
            10.9.2. Business Overview
            10.9.3. SWOT Analysis
            10.9.4. Financial Details
            10.9.5. Strategic Overview
     10.10. The Sherwin-Williams Company.
            10.10.1. Company Description
            10.10.2. Business Overview
            10.10.3. SWOT Analysis
            10.10.4. Financial Details
            10.10.5. Strategic Overview

11. Key Takeways

List of Figures

Figure 1: Global Automotive Refinish Coatings  Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 2: Global Automotive Refinish Coatings  Average Price (US$/ Unit) 2015–2024
Figure 3: Global Automotive Refinish Market Value Share Analysis By Product Type, 2016 and 2024
Figure 4: Primer, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 5: Base Coat, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 6: Activator, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 7: Filler, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 8: Automotive Refinish Market  Attractiveness Analysis By Product Type
Figure 9: Global Automotive Refinish Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 10:Solvent borne Coatings, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 11: Water borne coatings, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 12: Others, 2015 – 2024 (US$ Mn) (Kilo Tons) 
Figure 13: Automotive Refinish Market Attractiveness Analysis By Product Type
Figure 14: North America Automotive Refinish Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 15: North America Automotive Refinish Market Size and Volume Y-o-Y Growth Projections, 2015–2024
Figure 16: North America Market Attractiveness Analysis By Country
Figure 17: North America Market Value Share Analysis By Product Type, 2016 and 2024
Figure 18: North America Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 19: North America Market Value Share Analysis By Country, 2016 and 2024
Figure 20: U.S. Automotive Refinish Market  Analysis
Figure 21: Canada Automotive Refinish Market Analysis
Figure 22: Asia Pacific Automotive Refinish Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 23: Asia Pacific Automotive Refinish Market Size and Volume Y-o-Y Growth Projections, 2015–2024
Figure 24: Asia Pacific Market Attractiveness Analysis By Country
Figure 25: Asia Pacific Market Value Share Analysis By Product Type, 2016 and 2024
Figure 26: Asia Pacific Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 27: Asia Pacific Market Value Share Analysis By Country, 2016 and 2024
Figure 28: China Automotive Refinish Coatings Analysis
Figure 29: Japan & Korea Automotive Refinish Coatings Analysis
Figure 30: India Automotive Refinish Coatings Analysis
Figure 31: ASEAN Automotive Refinish Coatings Analysis
Figure 32: Rest of Asia Pacific Automotive Refinish Coatings Analysis
Figure 33: Europe Automotive Refinish Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 34: Europe Automotive Refinish Market Size and Volume Y-o-Y Growth Projections, 2015–2024
Figure 35: Europe Market Attractiveness Analysis By Country
Figure 36: Europe Market Value Share Analysis By Product Type, 2016 and 2024
Figure 37: Europe Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 38: Europe Market Value Share Analysis By Country, 2016 and 2024
Figure 39: Germany Automotive Refinish Market Analysis
Figure 40: France Automotive Refinish Market Analysis
Figure 41: U.K. Automotive Refinish Market Analysis
Figure 42: Italy Automotive Refinish Market Analysis
Figure 43: Spain Automotive Refinish Market Analysis
Figure 44: Rest of Europe Automotive Refinish Market Analysis
Figure 45: MEA Automotive Refinish Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 46: MEA Automotive Refinish Market Size and Volume Y-o-Y Growth Projections, 2015–2024
Figure 47: MEA Market Attractiveness Analysis By Country
Figure 48: MEA Market Value Share Analysis By Product Type, 2016 and 2024
Figure 49: MEA Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 50: MEA Market Value Share Analysis By Country, 2016 and 2024
Figure 51: GCC Automotive Refinish Market Analysis
Figure 52: Egypt Automotive Refinish Market Analysis
Figure 53: South Africa Automotive Refinish Market Analysis
Figure 54: Rest of Middle East and Africa Automotive Refinish Market Analysis
Figure 55: Latin America Automotive Refinish Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, 2015–2024
Figure 56: Latin America Automotive Refinish Market Size and Volume Y-o-Y Growth Projections, 2015–2024
Figure 57: Latin America Market Attractiveness Analysis By Country
Figure 58: Latin America Market Value Share Analysis By Product Type, 2016 and 2024
Figure 59: Latin America Market Value Share Analysis By Technology Type, 2016 and 2024
Figure 60: Latin America Market Value Share Analysis By Country, 2016 and 2024
Figure 61: Brazil Automotive Refinish Market Analysis
Figure 62: Mexico Automotive Refinish Market Analysis
Figure 63: Rest of Latin America Pacific Automotive Refinish Market Analysis
Figure 64: Global Automotive Refinish Market Share Analysis By Company (2015)

List of Tables

Table 1: Global Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 2: Global Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology, 2015–2024
Table 3: Global Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Region, 2015–2024
Table 4: Global Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Region Type, 2015–2024
Table 5: North America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 6: North America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology Type, 2015–2024
Table 7: North America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Country, 2015–2024
Table 8: Asia Pacific Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 9: Asia Pacific Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology Type, 2015–2024
Table 10: Asia Pacific Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Country, 2015–2024
Table 11: Europe Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 12: Europe Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology Type, 2015–2024
Table 13: Europe Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Country, 2015–2024
Table 14: Middle East & Africa Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 15: Middle East & Africa Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology, 2015–2024
Table 16: Middle East & Africa Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Country, 2015–2024
Table 17: Latin America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Product Type, 2015–2024
Table 18: Latin America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Technology, 2015–2024
Table 19: Latin America Automotive Refinish Coatings Market Size (US$ Mn) and Volume (Kilo Tons) Forecast, by Country, 2015–2024

 

Coatings which are generally used for pre-owned cars for timely repair and maintenance of appearance are called automotive refinish coatings. Automotive refinish coatings are applied to prevent deterioration of vehicle body parts and components from stone chips, rust, and debris. Automotive refinish coatings are used to maintain the durability and appearance of the vehicle. By product type, automotive refinish coatings are segmented into primer, base coat, clear coat, activator, and filler. On the basis of technology, they are segmented into solvent borne coatings and waterborne coatings.

The report provides in-depth analysis and forecast of the automotive refinish coatings market on the global as well as regional level. The report includes forecast for the period from 2016 to 2024 in terms of volume (kilo tons) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the global automotive refinish coatings market. Secondary sources typically include company websites, relevant magazines, government documents, and press releases. The top-down approach has been adopted to derive the regional numbers from global revenue and volume figures. Furthermore, the bottom-up approach has been employed to derive data for various source segments based on demand for automotive refinish coatings in each geographic segment. A combination of top-down and bottom-up approaches helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.

Detailed analysis of various factors driving the global automotive refinish coatings market has been included for astute decision making. Impact of these drivers during the forecast period has been included with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the next eight years. Opportunities entail untapped or recently explored factors that are anticipated to drive the automotive refinish coatings market during the forecast period.

The report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the automotive refinish coatings industry, from raw material suppliers to end-users. Various processes employed in the manufacture of automotive refinish coatings have been included in the value chain analysis. Porter’s Five Forces model has been included to determine the degree of competition in the market during the forecast period. Company market share analysis offers a better understanding of the competitive landscape. Company market share analysis includes the market share of dominant players in 2015, based on their production capacities and other factors. Furthermore, market attractiveness analysis has been conducted to analyze source segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each source segment.

Based on product type, the automotive refinish coatings market has been segmented into primer, base coat, clear coat, activator, and filler. Based on technology type, the market has been segmented into solvent borne coatings and water borne coatings. The report comprises detailed analysis of all the segments in the regional and global markets and forecast based on current and future trends in the industry in terms of volume (kilo tons) and revenue (US$ Mn). In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for automotive refinish coatings in each product segment and technology type has been analyzed and forecast for a period of eight years.

The report also comprises profiles of leading companies in the automotive refinish coatings market. These include BASF SE, Axalta Coating Systems, PPG Industries, and The Sherwin-Williams Company. Various attributes of these companies such as company overview, business strategies, and recent developments form the core of the company profiles section.

This report segments the global automotive refinish coatings market as follows:

  • Automotive Refinish Coatings Market  – Product Analysis
    • Primer
    • Base coat
    • Clear coat
    • Activator
    • Filler
    • Others
  • Automotive Refinish Coatings Market  – Technology Analysis
    • Solvent Borne
    • Water Borne
    • Others
  • Automotive Refinish Coatings Market – Regional Analysis
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Spain
      • France      
      • Germany
      • Italy
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan & Korea
      • ASEAN
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa (MEA)
      • GCC
      • Egypt
      • South Africa
      • Rest of MEA


 
 
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