The automotive refinish coating market provides for coating of automotives. The global automotive market is expected to reach over $245 billion by 2020; therefore, the market for refinish coating can expect good revenue. The key driver for the market is increase in the number of vehicles in operation. Additionally, the demand is expected to be very high in the BRIC countries with the increase in number of cars and bumpy road conditions. It is expected that the number of car users in developing countries would reach around three to four billion in the next 30 years.
However, the North American and European market is expected to be flat due to the economic downtimes and enhanced road safety parameters. The automotive market is not expected to grow in these regions until the recession settles down; therefore, the automotive refinish market is dependent on developing economies. The major challenge for companies in the market is to overcome the refinish coating requirements of two-wheelers and heavy commercial vehicles as the market is largely dependent on car markets.
The key companies profiled in the report are DuPont Performance Coating, Axalta Coating Systems, BASF SE, Kansai Paint Co. Ltd, Akzo Nobel N.V, KCC Corp, Noroo Paint Coatings Co. Ltd., PPG Industries Inc., and Matrix System Automotive Finishes.
GLOBAL MARKET, BY SOLVENT TYPE
GLOBAL MARKET , BY VEHICLE REFINISHING TYPE
GLOBAL MARKET, BY GEOGRAPHY