Automotive Refinish Coatings Market Report 2025

The automotive refinish coatings market size has grown strongly in recent years. It will grow from $9.7 billion in 2024 to $10.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to automotive repair and maintenance, increased number of vehicles on the road, aging vehicle fleet, rising incidence of accidents, consumer preferences for aesthetics, global expansion of automotive market.

The automotive refinish coatings market size is expected to see strong growth in the next few years. It will grow to $13.16 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to advancements in coating formulations, increased emphasis on sustainability, rise in demand for high-performance coatings, digital color matching solutions, globalization of automotive repair chains, changing consumer preferences. Major trends in the forecast period include technological advancements in coating formulations, waterborne coatings for environmental compliance, rise in adoption of UV-cured coatings, growing popularity of matte finishes, rising adoption of clearcoat technologies, increased investment in training and certification.

The increasing number of accidents is expected to drive the growth of the automotive refinish coatings market in the coming years. Accidents refer to incidents involving injuries due to crashes with vehicles partially or fully on public roads. Automotive refinish coatings are used to repair the damage to a vehicle's body caused by accidents. For example, in June 2024, the National Highway Traffic Safety Administration, a US government agency, reported that an estimated 2.38 million people were injured in motor vehicle crashes in 2022, compared to 2.5 million in 2021. As a result, the rising number of accidents is contributing to the expansion of the automotive refinish coatings market.

Increasing disposable income is expected to further boost the automotive refinish coatings market. Disposable income refers to the money available for spending and saving after taxes and mandatory deductions for both individuals and households. This income significantly influences the automotive refinish coatings market by affecting consumer spending on aesthetic upgrades and maintenance services, driving demand for refinishing products and services in the automotive aftermarket. For instance, in July 2023, the US Bureau of Economic Analysis reported that disposable personal income in the US rose by $7.3 billion (less than 0.1 percent). Therefore, rising disposable income is fueling the growth of the automotive refinish coatings market.

Technological advancements are a key trend gaining traction in the automotive refinish coatings market. Leading companies in the industry are introducing innovative technological solutions to maintain their market position. For example, in November 2023, PPG Industries, Inc., a US-based paint and coating manufacturer, launched the PPG DP7000 Air-Dry Primer in the automotive refinish markets across Europe, the Middle East, and Africa. This high-quality two-component acrylic primer complies with European volatile organic compound (VOC) regulations and works seamlessly with PPG's topcoat systems. Designed for fast air drying, it significantly boosts productivity while lowering energy consumption. PPG DP7000 dries up to twice as quickly as competing products, operates efficiently in all humidity conditions, and supports baking or infrared curing when necessary. Its advanced features enhance profitability for bodyshops while reducing environmental impact.

Major companies in the automotive refinish coatings market are increasingly focusing on launching environmentally friendly coating solutions, such as the ColorBrite Airspace Blue ReSource basecoat, to gain a competitive advantage. The ColorBrite Airspace Blue ReSource basecoat is an eco-conscious automotive coating that uses recycled raw materials, contributing to sustainable and eco-friendly paint solutions. For example, in December 2022, BASF SE, a Germany-based chemical company, introduced its first biomass balance automotive coating in China, the ColorBrite Airspace Blue ReSource basecoat. These coatings utilize renewable raw materials certified through a biomass balance approach. The ColorBrite Airspace Blue ReSource basecoat, which received certification from REDcert, was first launched in Europe in May of the same year and is now available in China, with the initial shipment already delivered to a customer there. This product is projected to reduce its carbon footprint by approximately 20%.

In November 2023, Nippon Paint Holdings Co., Ltd., a Japan-based paint company, acquired D-Act, an automotive refinish company, for an undisclosed amount. This acquisition aims to boost Nippon Paint Holdings' market share and reinforce its leadership in the Thai automotive refinish and commercial vehicle coatings market. D-Act Automotive Refinish Company, based in Thailand, specializes in manufacturing coatings and paints for the automotive refinish coatings industry.

Major companies operating in the automotive refinish coatings market are KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, KAPCI Coatings Company, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel N.V., Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, Alps Coating Sdn Bhd, Masco Corporation, Jotun AS, Hempel A/S, Berger Paints Ltd., Lord Corporation, Beckers Group, Cabot Corporation, HMG Paints Limited, Shanghai Kinlita Chemical Co. Ltd., Tikkurila Oyj, Karl WÖRwag Lack- Und Farbenfabrik Gmbh & Co. Kg, Duluxgroup (Investments) Pty. Ltd., Carpoly Co. Ltd., Kangnam Jevesco Co. Ltd., Mankiewicz Gebr. & Co., Shawcor Ltd.

Asia-Pacific was the largest region in the automotive refinish coatings market in 2024. The regions covered in the automotive refinish coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive refinish coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Automotive refinish coatings consist of alkyd, polyurethane, and acrylic compounds, primarily used by body shops and repair centers for vehicles. These coatings serve the purpose of covering damages to the vehicle's body caused by accidents, stones, or environmental factors.

The main products within the automotive refinish coatings category include primer, basecoat, clear coat, activator, filler, and putty. Primer is applied as the base coat to ensure optimal adhesion of the subsequent layers and long-lasting paint durability. Various technologies are involved in the production of automotive refinish coatings, including solvent-borne coatings, water-borne coatings, UV-cured coatings, high-solid coatings, and powder coatings. These coatings utilize resin types such as polyurethane, alkyd, acrylic, and epoxy. Automotive refinish coatings find application in various vehicle types, including passenger cars, commercial vehicles, and two-wheelers. The end-users in this industry include Original Equipment Manufacturers (OEM) and the aftermarket, where coatings are applied during repair and maintenance processes.

The automotive refinish coatings market research report is one of a series of new reports that provides automotive refinish coatings market statistics, including automotive refinish coatings industry global market size, regional shares, competitors with an automotive refinish coatings market share, detailed automotive refinish coatings market segments, market trends and opportunities, and any further data you may need to thrive in the automotive refinish coatings industry. This automotive refinish coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive refinish coatings market consists of sales of topcoat resins. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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