This report provides exclusive insights into the COVID-19 impact on the Automotive Refinish Coatings Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Automotive Refinish Coatings Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Automotive Refinish Coatings Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by
Infinium Global Research on automotive refinish coatings market provides in-depth analysis of segments and sub-segments in global as well as regional
automotive refinish coatings market. The study also highlights the impact of drivers,
restraints and macro indicators on the global and regional automotive refinish
coatings market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
automotive refinish coatings market. According to the report the global automotive
refinish coatings market is projected to grow at a CAGR of 5.8% over the
forecast period of 2016-2024.

Market Insight
Automotive
refinish coating market are used in automobiles for protection against external
factors such as extreme temperature, stones, damage due to accidents and
similar to others. Automotive refinish coatings are used by the automotive body
shops and repair centers for refinishing the vehicles. They are mainly used to
enhance the appearance and durability of a vehicle by protecting them from
external factors such as temperature and UV radiation is an essential
requirement.
Car
accidents, a car smash and accidental car bumps during the parking are the common
problems owing to which car’s body and paint are damaged. Thus collision repair
and auto painting have to be done in order to remove dents and scratches from
the cars. Also, many consumers are emotionally attached to their cars and do,
timely repair and maintenance of their cars. These aforementioned factors are
responsible for driving the growth of the market. In addition, adoption of
rising disposable income in the developing economies is boosting the growth of
passenger vehicles which in turn to benefit the automotive refinish
coatings market. However, increasing government regulations on the utilization
of high volatile organic compounds (VOC) level coatings is likely to restrain
the growth of the automotive refinish coatings market. Furthermore, the development
of eco-friendly technologies and increase in the number of car owners and car
rentals are anticipated to create several growth opportunities for the key
players in the automotive refinish coatings market over the years to come.
Among the
geographies, North America dominated the automotive refinish coatings market
followed by the Asia Pacific region. The growth in the North American regions
is due to the tendency of owners to undertake timely repairs of their vehicles and
high disposable incomes are encouraging the automotive refinish coating market
in the North America regions. Moreover, the growth in the Asia Pacific region
is due to the high demand for refinishing coatings in developing countries such
as India and China. On the other hand, China holds a dominant position in the
used vehicle market and has a high expansion rate and thus requires the refinish
coats to refurbish the cars.
Segment Covered
The report on global automotive
refinish coatings market covers segments such as product type and technology. On
the basis of product type, the global automotive refinish coatings market is
categorized into base coat, primer, activator, and clear coat. On the basis of
technology, the global automotive refinish coatings market is categorized
into solvent borne coatings and water borne coatings.
Geographic Coverage
The countries covered in the North
America region includes the U.S., Canada, and Mexico; while Asia-Pacific
includes China, Japan, India, South Korea, Malaysia, and among others.
Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the
European region. The U.S. drives the growth in the North America region as it
is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets
such as India and China. The APAC region is projected to experience growth at
a CAGR of x.x% over the period of 2016-2024.
Companies Profiled:
The report provides profiles of
the companies in the global automotive refinish coatings market such as The
Valspar Corporation, Sherwin-Williams Company, PPG Industries, Nippon Paint
Holdings Co. Ltd, Donglai Coating Technology, KANSAI PAINT CO., LTD, BASF SE,
Axalta Coating Systems, Akzo Nobel N.V, and 3M.
Report Highlights:
The report provides deep insights
on demand forecasts, market trends, and micro and macro indicators. In addition,
this report provides insights into the factors that are driving and restraining
the global automotive refinish coatings market. Moreover, IGR-Growth Matrix
analysis given in the report brings insight into the investment areas that
existing or new market players can consider. The report provides insights into
the market using analytical tools such as Porter's five forces analysis and DRO
analysis of automotive refinish coatings market. Moreover, the study highlights
current market trends and provides forecast from 2016-2024. We also have
highlighted future trends in the automotive refinish coatings market that will
impact the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings insight into the market share of
the leading players. This report will help manufacturers, suppliers, and
distributors of the automotive refinish coatings market to understand the
present and future trends in this market and formulate their strategies
accordingly.