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Global Refinish Paints Market InsightMarch 3, 2022 Comments
The Refinish Paints is forecast to smooth over the next few years. According to the WK-chem Research “Global Refinish Paints Professional Survey Report 2022, Forecast to 2027”, with the increasing of the traffic accident，the Refinish Paints industry is developing at an incredible speed. According to the WK-chem regression analysis model, the compound annual growth rate (CAGR) for the period 2022-2027 is expected to be 6.30%.
“The use of Refinish Paints technology in the manufacture and use of paint is expected to provide various opportunities for market growth, Senior analyst, Chemical & Material Market Research Center in WK-chem.” It is expected that during the forecast period, the auto mechanic industry will dominate the global Refinish Paints market.”
Auto body shops and repair centers use auto refinish paints to refinish vehicles. The global automotive refinish coatings market has witnessed tremendous growth over the past 5 years. This is mainly due to an increase in the number of vehicle collisions and the tendency of owners to service their vehicles. Growing accidents, adoption of new technologies, and increasing disposable income in developing economies are the major factors expected to drive the growth of the automotive refinish paint market. In addition, the growing demand for recreational vehicles in developed regions of North America and Europe is expected to further drive the refinish paint market.
This WK-chem market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Refinish Paints companys that include Axalta，PPG Industries，BASF，Sherwin-Williams，Kansai Paint，Nippon Paint，KCC Corporation .etc.
Segmentation of Refinish Paints Market:
The global refinish paints are segmented by type: polyurethane, epoxy, acrylic and others, with the polyurethane resin segment accounting for the largest share in the overall automotive refinish paint market. The growth of this segment is driven by its preference for clearcoat and primer layers due to its excellent weathering, corrosion and mechanical resistance. By application can be roughly divided into: passenger cars, light commercial vehicles, trucks, buses. The passenger car segment leads the automotive refinish paint market and is expected to maintain its dominance over the forecast period. Growing demand for vehicles in emerging economies such as China, India, Mexico is driving this segment. The increase was also aided by rising incomes of the middle-class population and an increased propensity of car owners to repair their vehicles after any collisions.
Refinish Paints Market: Regional Analysis
In terms of geography, the global Refinish Paints market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The Asia-Pacific automotive refinish paint market is expected to witness the highest growth over the forecast period, mainly owing to increasing used car sales in the region, growth in taxi services, and increase in auto repair and body shops. Emerging economies such as China, India and Southeast Asian countries are attracting several global companies to establish manufacturing bases in the Asia-Pacific region. These manufacturers are racing to acquire a broad customer base in countries such as China and India to meet the growing demand for refinish coatings from various end-users in these countries.
Largest share area：Asia-Pacific
Largest share country：China
Product Type：polyurethane, epoxy, acrylic and others
Application：passenger cars, light commercial vehicles, trucks, busesLeading Company：Axalta，PPG Industries，BASF，Sherwin-Williams，Kansai Paint，Nippon Paint，KCC Corporation