Automotive body shops and repair centers use automotive refinish coatings for refinishing vehicles.

PUNE, MAHARASHTA, INDIA, December 22, 2022 /EINPresswire.com/ -- Market Definition

Automotive body shops and repair centers use automotive refinish coatings for refinishing vehicles. These coatings are applied to new/old passenger and commercial vehicles to cover up the damages on the body caused by extreme temperatures, accidents, and impacts from stones. Some commonly used refinish coatings include primer, filler, topcoat and basecoat, and activator or hardener coatings. The automotive refinish coatings market also enhances the appearance of vehicles and improves their durability, along with growing demand for recreational vehicles and an increase in the number of vehicle collisions on a large scale. Automotive refinish coatings covers the painting of cars, trucks, or other vehicles, partly or totally, and of single parts of vehicles, often after mechanical or coachwork repair.

A reliable Asia-Pacific Automotive Refinish Coatings market research report identifies and analyses the up-and-coming trends in the industry along with major drivers, inhibitors, challenges, and opportunities. With the specific base year and the historic year, assessments and calculations are conducted in the report. This helps to know how the market is going to act in the forecast years by providing information about market definition, classifications, applications, and engagements. All the statistical data, which is computed with the most authentic tools such as SWOT analysis, is characterized with the help of graphs and charts for the best user experience and clear understanding.

These automotive refinish are used in lightweight plastics for the automotive industry. Data Bridge Market Research analyses that the automotive refinish coatings market is expected to reach USD 3,841.92 million by 2029, at a CAGR of 4.2% during the forecast period. "Acrylic" Accounts for the most prominent resin segment. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

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Asia-Pacific Automotive Refinish Coatings Market Analysis and Size

Extensive applications in producing lightweight plastics for automotive components and rapid industrialization and surge in disposable income of the middle-class population of emerging economies are expected to drive the demand for the Asia-Pacific automotive refinish coatings market. However, guidelines regulating the production and usage of automotive refinish may further restrict the market's growth.

All the data of an excellent Asia-Pacific Automotive Refinish Coatings report lends a hand in defining superior business strategies. This market research report has been prepared by assuring a systematic, objective and exhaustive study of the details related to several subjects in the field of marketing. Also, businesses can know the reaction of the consumers to an already existing product in the market. The report helps with the plentiful of market insights and business solutions that will help attain the new horizons of success. All parameters are analysed and evaluated by a team of innovative, enthusiastic and motivated researchers and forecasters so that nothing lefts uncovered in the Asia-Pacific Automotive Refinish Coatings business report.

COVID-19 Had a Minimal Impact on Automotive Refinish Coatings Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. Due to the lockdown, the automotive refinish coatings market has experienced a significant impact on the import and export of automotive refinish products over the past few years. The growing demand for consumer products will increase the automotive refinish coating market.

The Market Dynamics of the Automotive Refinish Coatings Market Include:

Drivers/Opportunities faced by the Asia-Pacific Automotive Coatings Refinish Market

Increase in demand for regular maintenance and repair of automotive vehicles

There has been an ever-increasing demand for regular maintenance and repair of automotive vehicles to improve their appearance and longevity by protecting them from environmental variables such as temperature and UV radiation. Furthermore, the growing demand for aesthetic car refinishing across the region has resulted in considerable advancements in how automobile refinish coatings work. Therefore, there has been high utilization of automotive refinish coatings across the automotive sector in the Asia-Pacific region.

Competitive Landscape and Asia-Pacific Automotive Refinish Coatings Market Share Analysis

The Asia-Pacific automotive refinish competitive market landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production Asia-Pacific cities, company strengths, and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific automotive refinish market.

Some of the major players operating in the automotive refinish coatings market are 3M, BASF SE, PPG Industries, Inc., Sherwin-Williams Company, Axalta Coating Systems, LLC, Akzo Nobel N.V., Kansai Paint Co., Ltd., Guangzhou Zhenroumei Chemical Coating Limited, The Lubrizol Corporation (A Subsidiary of Berkshire Hathaway), RPM International Inc., Berger Paints India Limited, NOROO Paint & Coatings co. Ltd., NIPSEA Group, KCC CORPORATION amongst others.

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Asia-Pacific Automotive Refinish Coatings Market Scope

The Asia-Pacific automotive refinish coatings market is segmented based on resin type, product type, component type, formulation, vehicle age and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

 Resin Type
Epoxy
Acrylic
Polyester
Alkyd
Polyurethane
Vinyl
Others

On the basis of resin type, the market is segmented into epoxy, acrylic, polyester, alkyd, polyurethane, vinyl and others.

Product Type
Basecoats
Primer & Filler
Clearcoats
Activator/Hardeners
Others

On the basis of product type, the market is segmented into basecoats, primer & filler, clearcoats, activator/hardeners and others.

 Component Type
Two Component (2k)
One Component (1k)

On the basis of component type, the market is segmented into two component (2k) and one component (1k).

Formulation
Solvent Borne Coatings
Water Borne Coatings
High Solid Coatings
UV Cured
Others

On the basis of formulation, the market is segmented into solvent borne coatings, water borne coatings, UV cured, high solid coatings and others.

Vehicle Age
Less than 5 years
5-10 years
More than 10 years

On the basis of vehicle age, the market is segmented into less than 5 years, 5-10 years and more than 10 years.

Application
Passenger Cars
Two-Wheelers
Commercial Vehicles
Industrial Vehicles

On the basis of application, the market is segmented into passenger cars, two-wheelers, commercial vehicles and industrial vehicles.

 Asia-Pacific Automotive Refinish Coatings Market Regional Analysis/Insights

The Asia-Pacific automotive refinish coatings market is analyzed, and market size insights and trends are provided by country, resin type, product type, component type, formulation, vehicle age, and application, as referenced above.

The countries covered in the Asia-Pacific automotive refinish coatings market report are China, India, Japan, South Korea, Australia & New Zealand, Singapore, Indonesia, Philippines, Thailand, Malaysia, and the Rest of Asia-Pacific.

China dominates the automotive refinish coatings market due to the rising research and advancement activities for advancing new grades of automotive refinish in the region.

Why buy this report?
The report offers a comprehensive evaluation of the Asia-Pacific Automotive Refinish Coatings Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains a competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

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