The automotive refinish coatings market is expected to reach US$ 12.27 Billion by 2032.
The automotive refinish coatings market is expected grow at a CAGR of 5.6% between 2023 to 2032.
The automotive refinish coatings market was estimated to be US$ 7.11 Billion in 2022.
Advancements in coating technologies and product innovations and rising number of road accidents are also significant factors driving the automotive refinish coatings market growth.
Akzo Nobel N.V. (Netherlands), Axalta Coating Systems (United States), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), PPG Industries, Inc. (United States), RPM International Inc. (United States), Sherwin-Williams Company (United States), Sikkens B.V. (Netherlands), The Dow Chemical Company (United States), The Hempel Group (Denmark), The KCC Corporation (South Korea), The Valspar Corporation (United States), Wanda Refinish (China) among others, are the major players in the automotive refinish coatings market.
Asia-Pacific is a rapidly growing market for automotive refinish coatings, primarily driven by the booming automotive industry in countries like China, India, and Japan.
The clearcoat segment holds the largest share in the automotive refinish coatings market due to its crucial role in providing visual appeal, protection, and durability to the vehicle's paintwork.
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