Refinish Paint Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2020 - 2025

Report Code: CMR 73020 Report Format: PDF + Excel (Delivery in 48 Hrs)
Overview
Refinish Paint Market size is forecast to reach $5.4 billion by 2025, after growing at a CAGR of 4.8% during 2020-2025. Refinish paints are mainly used in Automotive, Aerospace and furniture works. Automotive vehicles and Airplanes need to be repaired frequently to enhance the façade and to recover the damages caused by external factors such as extreme temperature, stones, damage due to accidents and similar others. Increasing number of accidents and adoption of newer technologies in the developing economies are the major factors that are expected to boost the refinish paint market growth.

Key Takeaways
  • Asia-Pacific dominates the Refinish Paint market, as it is the largest consumer of refinish coatings. 
  • Frequent repairing works to enhance the facade of automotive vehicles and Airplanes are driving the demand for Refinishing paints market in the APAC region.
  • Water borne coatings offer numerous advantages over solvent-borne coatings, making them a preferred choice. These coatings can cover a given area with a relatively smaller amount of product as compared to solvent-borne coatings due to superior technology used in their production. They exhibit low toxicity and VOC content, and possess good resistance to abrasion and heat. Additionally, water-borne coatings are recyclable.
  • The lack of skilled workers will be the small hurdles for Refinish paints market. 

Resin – Segment analysis 
Polyurethane resins consists the largest share in the Refinishing paint market. This resin helps formulate automotive coatings with higher gloss and excellent finish. The growth of polyurethane resin is backed by its excellent resistance to UV rays, chemicals, and corrosion. The polyurethane resin based coating also offers superior durability, thereby, lowering maintenance requirements significantly. Dow Chemical is expected to provide reactive PU plasticizers, which are considered to be useful for polyurethane moisture curing adhesives used in automotive glass bonding. Polyurethane wide range of automotive coating products portfolio ranges from automotive OEM & luxury vehicles coatings to commercial, agricultural, defense & plastic layers with auto-refinish paint manufacturers. 

Formulation – Segment analysis
Waterborne paints are the mostly used refinishing paints, as it is less toxic and hazardous. Waterborne paints have been evaluated as alternatives to the Solvent based paints. The volatile organic compound (VOC) content of waterborne paints is significantly lower than conventional solvent based paints, thereby reducing VOC emissions waterborne paints are composed of synthetic resins and pigments that are kept dispersed in water by surfactants. They also contain small amounts of Coalescing Solvents waterborne paints, dry by evaporation of water. The coalescing solvents allow the resin particles to fuse together as the water evaporates to form a continuous coating. Waterborne paints must be protected from freezing and applied at a minimum temperature of 50 degrees Fahrenheit.
Waterborne paints reduce VOC emissions and worker exposure to hazardous air pollutants. These paints can also reduce the amount of hazardous waste generated depending on the type of paint used.

Application - Segment Analysis
Automotive sector has been the largest market for the Refinishing paint market. It is due to the widespread applications in the automotive sector for refinishing paints. Badische Anilin Und Soda Fabrik (BASF) a German chemical company introduces RODIM®, a new brand of paint-related products, which supports body shops in Japan to enhance their workflow and optimize the results for automotive refinishing. The comprehensive, user-friendly product portfolio offers protective wear and consumables needed for masking, sanding, mixing and painting in the refinish repair process. 

Geography - Segment Analysis
Asia-Pacific region is the largest consumer of refinish paints globally. This is mainly due to increasing sales of pre-owned vehicles, growing cab services, and increasing vehicle repair and body shops in the region. Asia-Pacific market is increasing car parc, rising purchasing power and rise in number of road accidents will continue to lead the market during the forecast period, this is due to rising demand of vehicle customization. Emerging economies such as India, China, and different Southeast Asian countries are further attracting several global players to start their manufacturing base in Asia-Pacific, thus boosting global demand for refinishing paints. These manufacturers are competing to reach an extensive customer base in countries, such as China and India to cater the increasing demand for refinish coating.

Drivers – Refinish paints Market

  • Growing demand for automobiles.
In countries such as China, India, Japan are the huge market for automobiles sector. Since in these countries there is continuous growth in the automobile manufacturing sector. According to the annual report of OICA (International Organization of Motor Vehicle Manufacturers), for most vehicles manufactured in year 2018, China, India & Japan are in the top 20 countries around world. In which China has ranked 6th whereas India & Japan are ranked 14th and 18th respectively. So, in countries like these there is a chance of huge growth opportunity for Refinish paints market.  

  • Increasing adoption of sustainable and environment friendly products
Stringent governments’ regulations towards using sustainable and environment friendly products is likely, to aid the refinish paint market, as waterborne paints are less toxic and hazardous than solvent-based paints. So, manufacturers are also looking more towards using sustainable products.

Challenges – Refinish Paints Market

  • Lack of Skilled Technicians
The lack of skilled technicians to apply these ever-increasingly complex coating systems had increased in last few years. So, Industries need to take it on notice to increase efficiency. According to Holmberg, the biggest challenges refinish customers face are related to efficiency and the workforce. 

Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Refinish Paints Market. In 2019, the market of Refinish Paints has been consolidated by the top five players accounting for xx% of the share. Major players in the Refinish Paints Market are Axalta Coating Systems, PPG Industries, BASF, Akzonobel, Sherwin-Williams, and 3M among others.

Acquisitions/Technology Launches
  • In July 2017, The Sherwin-Williams Company completed the acquisition of Valspar Corporation. The acquisition has made the company one of the largest paints & coatings manufacturers in US. 
  • In 2015, Axalta Coating System, commissioned a new manufacturing unit at Wuppertal, Germany to produce eco-friendly waterborne coatings. With this expansion, the company plans to address the growing demand for coatings in the Europe, Africa and Middle East markets owing to the centralized location of Wuppertal. 

1. Refinish Paint Market - Overview
        1.1 Definitions and Scope
2. Refinish Paint Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Refinish Paint Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Refinish Paint Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Refinish Paint Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Refinish Paint Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Refinish Paint Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Refinish Paint Market - By Product (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Refinish Paint Market for Automotive By Resin (Market Size -$Million / $Billion)
        9.1 Polyurethane Resin
        9.2 Epoxy Resin
        9.3 Acrylic Resin
        9.4 Others
10. Refinish Paint Market for Automotive By Technology (Market Size -$Million / $Billion)
        10.1 Solventborne Coating
        10.2 Waterborne Coating
        10.3 Powder Coating
11. Refinish Paint Market for Automotive By Vehicle Type (Market Size -$Million / $Billion)
        11.1 Passenger Car
        11.2 Buses
        11.3 LCV
        11.4 Trucks
12. Refinish Paint Market for Automotive By Layer (Market Size -$Million / $Billion)
        12.1 Introduction 
        12.2 Sealer 
        12.3 Primer 
        12.4 Basecoat 
        12.5 Clearcoat
13. Refinish Paint - By Application (Market Size -$Million / $Billion)
        13.1 Segment type Size and Market Share Analysis
        13.2 Application Revenue and Trends by type of Application
        13.3 Application Segment Analysis by Type
14. Refinish Paint- By Geography (Market Size -$Million / $Billion)
        14.1 Refinish Paint Market - North America Segment Research
        14.2 North America Market Research (Million / $Billion)
            14.2.1 Segment type Size and Market Size Analysis
            14.2.2 Revenue and Trends
            14.2.3 Application Revenue and Trends by type of Application
            14.2.4 Company Revenue and Product Analysis
            14.2.5 North America Product type and Application Market Size
                  14.2.5.1 U.S
                  14.2.5.2 Canada
                  14.2.5.3 Mexico
                  14.2.5.4 Rest of North America
        14.3 Refinish Paint- South America Segment Research
        14.4 South America Market Research (Market Size -$Million / $Billion)
            14.4.1 Segment type Size and Market Size Analysis
            14.4.2 Revenue and Trends
            14.4.3 Application Revenue and Trends by type of Application
            14.4.4 Company Revenue and Product Analysis
            14.4.5 South America Product type and Application Market Size
                  14.4.5.1 Brazil
                  14.4.5.2 Venezuela
                  14.4.5.3 Argentina
                  14.4.5.4 Ecuador
                  14.4.5.5 Peru
                  14.4.5.6 Colombia
                  14.4.5.7 Costa Rica
                  14.4.5.8 Rest of South America
        14.5 Refinish Paint- Europe Segment Research
        14.6 Europe Market Research (Market Size -$Million / $Billion)
            14.6.1 Segment type Size and Market Size Analysis
            14.6.2 Revenue and Trends
            14.6.3 Application Revenue and Trends by type of Application
            14.6.4 Company Revenue and Product Analysis
            14.6.5 Europe Segment Product type and Application Market Size
                  14.6.5.1 U.K
                  14.6.5.2 Germany
                  14.6.5.3 Italy
                  14.6.5.4 France
                  14.6.5.5 Netherlands
                  14.6.5.6 Belgium
                  14.6.5.7 Denmark
                  14.6.5.8 Spain
                  14.6.5.9 Rest of Europe
        14.7 Refinish Paint - APAC Segment Research
        14.8 APAC Market Research (Market Size -$Million / $Billion)
            14.8.1 Segment type Size and Market Size Analysis
            14.8.2 Revenue and Trends
            14.8.3 Application Revenue and Trends by type of Application
            14.8.4 Company Revenue and Product Analysis
            14.8.5 APAC Segment - Product type and Application Market Size
                  14.8.5.1 China
                  14.8.5.2 Australia
                  14.8.5.3 Japan
                  14.8.5.4 South Korea
                  14.8.5.5 India
                  14.8.5.6 Taiwan
                  14.8.5.7 Malaysia
                  14.8.5.8 Hong kong
                  14.8.5.9 Rest of APAC
        14.9 Refinish Paint - Middle East Segment and Africa Segment Research
        14.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            14.10.1 Segment type Size and Market Size Analysis
            14.10.2 Revenue and Trend Analysis
            14.10.3 Application Revenue and Trends by type of Application
            14.10.4 Company Revenue and Product Analysis
            14.10.5 Middle East Segment Product type and Application Market Size
                  14.10.5.1 Israel
                  14.10.5.2 Saudi Arabia
                  14.10.5.3 UAE
            14.10.6 Africa Segment Analysis
                  14.10.6.1 South Africa
                  14.10.6.2 Rest of Middle East & Africa
15. Refinish Paint Market - Entropy
        15.1 New product launches
        15.2 M&A s, collaborations, JVs and partnerships
16. Refinish Paint Market - Industry / Segment Competition landscape Premium
        16.1 Market Share Analysis
            16.1.1 Market Share by Country- Top companies
            16.1.2 Market Share by Region- Top 10 companies
            16.1.3 Market Share by type of Application - Top 10 companies
            16.1.4 Market Share by type of Product / Product category- Top 10 companies
            16.1.5 Market Share at global level - Top 10 companies
            16.1.6 Best Practises for companies
17. Refinish Paint Market - Key Company List by Country Premium
18. Refinish Paint Market Company Analysis
        18.1 Market Share, Company Revenue, Products, M&A, Developments
        18.2 3M
        18.3 Akzonobel
        18.4 Alps Coatings
        18.5 Axalta Coating Systems
        18.6 BASF
        18.7 Besa
        18.8 Cresta Paint Industries
        18.9 Donglai Coating
        18.10 Guangzhou Zhenroumei Chemical Coatings
        18.11 HMG Paints
        18.12 James Briggs
        18.13 Kansai Paint
        18.14 Kapci Coatings
        18.15 KCC
        18.16 Lubrizol
        18.17 Mipa
        18.18 Nippon Paint
        18.19 Noroo Paint & Coatings
        18.20 Novol
        18.21 PPG Industries
        18.22 Rock Paint
        18.23 Samhwa Paints Industrial
        18.24 Sherwin-Williams
        18.25 TOA Performance Coating
        18.26 Weg Group
        18.27 Company 26
        18.28 Company 27 & More
*Financials would be provided on a best efforts basis for private companies
19. Refinish Paint Market - Appendix
        19.1 Abbreviations
        19.2 Sources
20. Refinish Paint Market - Methodology
        20.1 Research Methodology
            20.1.1 Company Expert Interviews
            20.1.2 Industry Databases
            20.1.3 Associations
            20.1.4 Company News
            20.1.5 Company Annual Reports
            20.1.6 Application Trends
            20.1.7 New Products and Product database
            20.1.8 Company Transcripts
            20.1.9 R&D Trends
            20.1.10 Key Opinion Leaders Interviews
            20.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
1.1 Polyurethane Resin Market 2019-2024 ($M) - Global Industry Research
1.2 Epoxy Resin Market 2019-2024 ($M) - Global Industry Research
1.3 Acrylic Resin Market 2019-2024 ($M) - Global Industry Research
2.Global Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
2.1 Solventborne Coating Market 2019-2024 ($M) - Global Industry Research
2.2 Waterborne Coating Market 2019-2024 ($M) - Global Industry Research
2.3 Powder Coating Market 2019-2024 ($M) - Global Industry Research
3.Global Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
3.1 Passenger Car Market 2019-2024 ($M) - Global Industry Research
3.2 Buses Market 2019-2024 ($M) - Global Industry Research
3.3 LCV Market 2019-2024 ($M) - Global Industry Research
3.4 Trucks Market 2019-2024 ($M) - Global Industry Research
4.Global Refinish Paint Market for Automotive By Resin Market 2019-2024 (Volume/Units)
4.1 Polyurethane Resin Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Epoxy Resin Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Acrylic Resin Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global Refinish Paint Market for Automotive By Technology Market 2019-2024 (Volume/Units)
5.1 Solventborne Coating Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Waterborne Coating Market 2019-2024 (Volume/Units) - Global Industry Research
5.3 Powder Coating Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 (Volume/Units)
6.1 Passenger Car Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Buses Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 LCV Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 Trucks Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
7.1 Polyurethane Resin Market 2019-2024 ($M) - Regional Industry Research
7.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
7.3 Acrylic Resin Market 2019-2024 ($M) - Regional Industry Research
8.North America Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
8.1 Solventborne Coating Market 2019-2024 ($M) - Regional Industry Research
8.2 Waterborne Coating Market 2019-2024 ($M) - Regional Industry Research
8.3 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
9.North America Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
9.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
9.2 Buses Market 2019-2024 ($M) - Regional Industry Research
9.3 LCV Market 2019-2024 ($M) - Regional Industry Research
9.4 Trucks Market 2019-2024 ($M) - Regional Industry Research
10.South America Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
10.1 Polyurethane Resin Market 2019-2024 ($M) - Regional Industry Research
10.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
10.3 Acrylic Resin Market 2019-2024 ($M) - Regional Industry Research
11.South America Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
11.1 Solventborne Coating Market 2019-2024 ($M) - Regional Industry Research
11.2 Waterborne Coating Market 2019-2024 ($M) - Regional Industry Research
11.3 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
12.South America Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
12.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
12.2 Buses Market 2019-2024 ($M) - Regional Industry Research
12.3 LCV Market 2019-2024 ($M) - Regional Industry Research
12.4 Trucks Market 2019-2024 ($M) - Regional Industry Research
13.Europe Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
13.1 Polyurethane Resin Market 2019-2024 ($M) - Regional Industry Research
13.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
13.3 Acrylic Resin Market 2019-2024 ($M) - Regional Industry Research
14.Europe Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
14.1 Solventborne Coating Market 2019-2024 ($M) - Regional Industry Research
14.2 Waterborne Coating Market 2019-2024 ($M) - Regional Industry Research
14.3 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
15.Europe Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
15.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
15.2 Buses Market 2019-2024 ($M) - Regional Industry Research
15.3 LCV Market 2019-2024 ($M) - Regional Industry Research
15.4 Trucks Market 2019-2024 ($M) - Regional Industry Research
16.APAC Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
16.1 Polyurethane Resin Market 2019-2024 ($M) - Regional Industry Research
16.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
16.3 Acrylic Resin Market 2019-2024 ($M) - Regional Industry Research
17.APAC Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
17.1 Solventborne Coating Market 2019-2024 ($M) - Regional Industry Research
17.2 Waterborne Coating Market 2019-2024 ($M) - Regional Industry Research
17.3 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
18.APAC Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
18.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
18.2 Buses Market 2019-2024 ($M) - Regional Industry Research
18.3 LCV Market 2019-2024 ($M) - Regional Industry Research
18.4 Trucks Market 2019-2024 ($M) - Regional Industry Research
19.MENA Refinish Paint Market for Automotive By Resin Market 2019-2024 ($M)
19.1 Polyurethane Resin Market 2019-2024 ($M) - Regional Industry Research
19.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
19.3 Acrylic Resin Market 2019-2024 ($M) - Regional Industry Research
20.MENA Refinish Paint Market for Automotive By Technology Market 2019-2024 ($M)
20.1 Solventborne Coating Market 2019-2024 ($M) - Regional Industry Research
20.2 Waterborne Coating Market 2019-2024 ($M) - Regional Industry Research
20.3 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
21.MENA Refinish Paint Market for Automotive By Vehicle Type Market 2019-2024 ($M)
21.1 Passenger Car Market 2019-2024 ($M) - Regional Industry Research
21.2 Buses Market 2019-2024 ($M) - Regional Industry Research
21.3 LCV Market 2019-2024 ($M) - Regional Industry Research
21.4 Trucks Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Refinish Paint Market Revenue, 2019-2024 ($M)
2.Canada Refinish Paint Market Revenue, 2019-2024 ($M)
3.Mexico Refinish Paint Market Revenue, 2019-2024 ($M)
4.Brazil Refinish Paint Market Revenue, 2019-2024 ($M)
5.Argentina Refinish Paint Market Revenue, 2019-2024 ($M)
6.Peru Refinish Paint Market Revenue, 2019-2024 ($M)
7.Colombia Refinish Paint Market Revenue, 2019-2024 ($M)
8.Chile Refinish Paint Market Revenue, 2019-2024 ($M)
9.Rest of South America Refinish Paint Market Revenue, 2019-2024 ($M)
10.UK Refinish Paint Market Revenue, 2019-2024 ($M)
11.Germany Refinish Paint Market Revenue, 2019-2024 ($M)
12.France Refinish Paint Market Revenue, 2019-2024 ($M)
13.Italy Refinish Paint Market Revenue, 2019-2024 ($M)
14.Spain Refinish Paint Market Revenue, 2019-2024 ($M)
15.Rest of Europe Refinish Paint Market Revenue, 2019-2024 ($M)
16.China Refinish Paint Market Revenue, 2019-2024 ($M)
17.India Refinish Paint Market Revenue, 2019-2024 ($M)
18.Japan Refinish Paint Market Revenue, 2019-2024 ($M)
19.South Korea Refinish Paint Market Revenue, 2019-2024 ($M)
20.South Africa Refinish Paint Market Revenue, 2019-2024 ($M)
21.North America Refinish Paint By Application
22.South America Refinish Paint By Application
23.Europe Refinish Paint By Application
24.APAC Refinish Paint By Application
25.MENA Refinish Paint By Application
26.Axalta Coating Systems, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.PPG Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.BASF, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Akzonobel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Sherwin-Williams, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.3M, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Kansai Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Nippon Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.KCC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Donglai Coating, Sales /Revenue, 2015-2018 ($Mn/$Bn)