Refinish Paint Market for Automotive worth 8.50 Billion USD by 2022

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Refinish Paint Market for Automotive worth 8.50
Billion USD by 2022

The report "Refinish Paint Market for
Automotive by Layer (Clearcoat, Basecoat, Primer,
Sealer), Resin (PU, Epoxy, Acrylic),
Technology (Waterborne, Solventborne Powder),
Vehicle (Passenger Cars, Commercial Vehicles),
and Region - Global Forecast to 2022", The
refinish paint market for automotive is projected
to grow from USD 7.00 Billion in 2017 to USD 8.50
Billion by 2022, at a CAGR of 4.0 from 2017 to
2022.
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Introduction

• The growth of this market is driven by the
  increasing demand for cars, high collision rate,
  rising income of the middle-class population, and
  the propensity of car owners to repair their
  vehicles post any collision.
• In 2016, the passenger car segment accounted for
  the largest share of the overall automotive
  refinish coating market.

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Key Participants

• Axalta (US), PPG Industries (US), BASF (Germany),
  Sherwin-Williams (US), Kansai Paint (Japan),
  Nippon Paint (Japan), KCC Corporation (Korea),
  and AkzoNobel (Netherlands) are some of the key
  market players in the refinish paint market for
  automotive.
• Diverse product portfolios, strategically
  positioned RD centers, continuous adoption of
  various growth strategies, and advancements in
  technologies for the development of new types of
  products and technologies are the factors
  responsible for the strong position of these
  companies in the refinish paint market for
  automotive.

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On The Basis Of Region
The refinish paint market for automotive in APAC
expected to witness the highest growth during the
forecast period. The growth can be majorly backed
by the increasing demand for cars and rising
income of middle-class population in emerging
economies, such as China, India, and South Korea.
Major key players are focused on inorganic growth
strategies such as mergers acquisitions to
enhance its footprint as well as cater the
growing demand in this region.
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