The global automotive refinish coatings market was valued at USD 14.8 billion in 2024, and is expected to reach USD 18.6 billion by 2030, recording a CAGR of 4.3%. Growth in the number of older vehicles on the road, especially in places like North America Europe and Asia Pacific, is driving demand for automotive refinish coatings. As cars age, they are more likely to need repairs and repaints. Moreover, many car owners are also investing in vehicle appearances and customization. At the same time, stricter environmental rules have pushed the industry toward water-based coatings that release fewer VOCs. Innovation is also playing a major role. UV-curable coatings, for example, are catching on because they cure quickly and are more eco-friendly. While the market is growing steadily thanks to R&D and faster repair solutions, it still faces a few challenges along the way.
Market Dynamics
Aging vehicles require regular maintenance, repairs, and refinishing
As cars get older, they naturally need more care. The paint might fade, small scratches and dents show up, and rust can start to appear, especially if the vehicle is exposed to tough weather. Instead of buying a new car, many people choose to fix the one they already have. It's often more affordable, especially in places where owning a car is expensive. This means more visits to the repair shop for things like repainting or touch-ups.
Moreover, older cars don’t always have the same rust-resistant materials that newer models do, so they’re more likely to need protection and cosmetic work. All of these factors ensure steady demand for refinishing products like paints, primers, and coatings because people want to keep their vehicles running well and looking good. In places with a lot of aging vehicles, such as North America, Asia and Europe, this trend is especially strong and continues to support the growth of the automotive refinish coatings market.
Rising raw material expenses impact industry growth
Prices of raw materials like resins, solvents, and pigments can undergo alterations due to myriad factors such as supply chain issues, global tensions, and variations in the oil industry. As resins and solvents are products of the petroleum industry, fluctuations in the price of oil greatly affect their prices. Pigments are also affected whenever there are limitations on minerals due to mining regulations or issues in processing. When prices escalate, a manufacturer is faced with the dilemma of either absorbing the cost, passing on the cost to the consumer, or reducing quality. Increased costs can lead to reduced demand in price-sensitive areas, while shortages may cause delays in production or compromised quality. To reduce the impact, manufacturers are seeking alternatives such as searching for new suppliers or alternative ingredients, all of which could require a great amount of time as well as innovation.
By Coating, the primer segment is expected to hold the largest share during the forecast period. Primers play a key role in the entire refinishing process, acting as the first layer that bonds the vehicle’s surface to the paint that comes after. Not only do primers help paint stick better, but they also protect the metal underneath from rust and corrosion. As vehicles get older, they tend to show more signs of wear and tear, such as scratches, dents, and exposed surfaces, which makes primer even more important before repainting. In addition, demand is driven up as primers are used in all sorts of repairs, from small fixes to full-body jobs. Collision repair shops rely heavily on them.
Since primers are generally more affordable than basecoats and clear coats and are needed in larger amounts, they’re often the go-to products in most refinishing projects. With more vehicles staying on the road for a longer period, especially in markets with aging car populations, the need for reliable & protective primers keeps growing.
The APAC region is expected to have largest market share during the study period. Countries like China, India, Japan, and South Korea have huge on road vehicles, and a large portion of these cars are getting older. Usual wear and tear, such as scratches, fading paint, and rust is seen in older cars, due to which they require regular repairs and touch-ups.
An increasing number of people across the region are buying cars, especially in places where incomes are rising and cities are growing fast. This keeps the demand for refinishing even higher. The region also has a strong base of auto manufacturers and an extensive network of repair centers, which makes it easier to access refinish services and products.
Key Market Players
Key players active in the automotive refinish coatings market include BASF SE (Germany), Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems (US), Covestro AG (Germany), Cabot Corporation (US), Clariant (Switzerland), NOROO Paint & Coatings co. Ltd. (South Korea), Alsa Refinish and The Alsa Corporation (US), The Dow Chemical Company (US)
Scope of the Report
| Market Size Estimation | 2024–2030 |
|---|---|
| Base Year Considered | 2024 |
| Forecast Period Considered | 2025–2030 |
| The Market Size Value In 2024 | USD 14.8 billion |
| Revenue Forecast In 2030 | USD 18.6 billion |
| Growth Rate | CAGR of 4.3% from 2025 to 2030 |
| Units Considered | Value (USD Million/Billion) and Volume (Million Litres) |
| Segments Covered | Coating, Resin, Technology, Vehicle and Region |
| Regions Covered | North America, Latin America, Europe, APAC, and Middle East & Africa |
| Companies Studied | BASF SE (Germany), Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems (US), Covestro AG (Germany), Cabot Corporation (US), Clariant (Switzerland), NOROO Paint & Coatings co. Ltd. (South Korea), Alsa Refinish and The Alsa Corporation (US), The Dow Chemical Company (US), 3M (US), Alps Coating Sdn Bhd (Malaysia), Angel Coating Pvt. Ltd. (India), BERNARDO ECENARRO S.A. (Italy), Carl Schlenk AG (Germany), General Paint Co. (Canada), Kansai Paint Co. Ltd. (Japan), KAPCI Coating (Egypt), Nippon Paint Holdings Co. Ltd. (Japan), S.Coat Co. Ltd. (Japan), Tara Paints and Chemicals (India), The Sherwin Williams Co. (US), TOA Paint Thailand Public Co. Ltd. (Thailand), Berger Paints India Limited (India), DSM Coating Resins B.V. (Netherlands) |
Segmentation
This research report categorizes the global automotive refinish coatings market based on source, formulation, application, distribution channel, and region.
By Coating
- Primer
- Basecoat
- Clear Coat
- Others (Fillers, Activator etc.)
By Resin
- Polyurethane
- Alkyd
- Acrylic
- Epoxy
By Technology
- Solvent Borne
- Water Borne
- Powder Coating
By Vehicle
- Passenger Cars
- Commercial Vehicles
By Region
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa
Recent Developments
December 2024 - McLarens Group has launched 3M Ceramic Coating in Sri Lanka, offering long-lasting shine and protection against UV rays, dirt, and scratches. The coating lasts up to five years and includes one year of free maintenance.
December 2024- AkzoNobel has signed a Memorandum of Cooperation with Sinopec to support the Chinese energy giant’s global expansion and green energy initiatives. The partnership will supply high-performance International® (brand from AkzoNobel) coatings for Sinopec’s overseas projects, including anti-corrosive, high-temperature, chemical-resistant, and fireproof coatings.
August 2024 – BASF Coatings inaugurated a new Application and Technical Center at its Jiangmen site in China. The facility will serve refinish customers across China and the Asia Pacific region, offering enhanced solutions for premium, value-for-money, and commercial transportation segments.
September 2024 – BASF Coatings introduced its first automotive refinish clearcoats made using ChemCycling technology that transforms waste tires into recycled feedstock. These sustainable products, now a part of the Glasurit Eco Balance and R-M eSense lines, offer high performance while reducing CO₂ emissions and fossil resource use. The new clearcoats dry quickly at low temperatures, thus cutting energy use and protecting EVs from heat exposure.
Table of Content
1.1. Objective of the Study
1.2. Market Definition
1.2.1. Target Product
1.2.2. Regions Covered
1.2.3. Base Year and Forecast Period Considered
2.1. Assumptions
2.2. Primary & Secondary Sources
2.3. Market Size Estimation
2.3.1. Supply Side Approach
2.3.2. Demand Side Approach
4.1. Market Share Analysis
4.2. Product Benchmarking
4.3. Right to Win (On-demand)
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Opportunities
5.1.3. Market Challenges
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining Power of Suppliers
5.2.2. Bargaining Power of Customers
5.2.3. Threat of New Entrants
5.2.4. Threat of Substitution
5.2.5. Degree of Competition
6.1. Value Chain Analysis
6.2. Pricing Analysis
6.3. Suppliers and Distributors
6.4. Impact of Regulations and Government Policies (On-demand)
7.1. Primer
7.2. Basecoat
7.3. Clear Coat
7.4. Others (Fillers, Activator etc.)
8.1. Polyurethane
8.2. Alkyd
8.3. Acrylic
8.4. Epoxy
9.1. Solvent Borne
9.2. Water Borne
9.3. Powder Coating
10.1. Passenger Cars
10.2. Commercial Vehicles
11.1. Introduction
11.2. North America
11.2.1. U.S.
11.2.2. Canada
11.2.3. Mexico
11.3. Latin America
11.3.1. Brazil
11.3.2. Argentina
11.3.3. Chile
11.4. Europe
11.4.1. U.K.
11.4.2. France
11.4.3. Germany
11.4.4. Italy
11.4.5. Others
11.5. APAC
11.5.1. China
11.5.2. India
11.5.3. Japan
11.5.4. Indonesia
11.5.5. Others
11.6. Middle East and Africa
11.6.1. Saudi Arabia
11.6.2. Turkey
11.6.3. UAE
11.6.4. South Africa
11.6.5. Others
12.1. Introduction
12.1.1. New Product Launches
12.1.2. Key M&As, Collaborations, JVs and Partnerships
12.1.3. Operational Details – Production Capacity, Utilization Rate, Sales Volume, Revenue (On-demand)
12.2. BASF SE
12.2.1. Business Overview
12.2.2. Product Portfolio
12.2.3. Recent Developments
12.2.4. SWOT Analysis
12.3. Akzo Nobel N.V.
12.4. PPG Industries, Inc.
12.5. Axalta Coating Systems
12.6. Covestro AG
12.7. Cabot Corporation
12.8. Clariant
12.9. NOROO Paint & Coatings co. Ltd.
12.10. Alsa Refinish and The Alsa Corporation
12.11. The Dow Chemical Company
12.12. 3M
12.13. Alps Coating Sdn Bhd
12.14. Angel Coating Pvt. Ltd.
12.15. BERNARDO ECENARRO S.A.
12.16. Carl Schlenk AG
12.17. General Paint Co.
12.18. Kansai Paint Co. Ltd.
12.19. KAPCI Coating
12.20. Nippon Paint Holdings Co. Ltd.
12.21. S.Coat Co. Ltd.
12.22. Tara Paints and Chemicals
12.23. The Sherwin Williams Co.
12.24. TOA Paint Thailand Public Co. Ltd.
12.25. Berger Paints India Limited
12.26. DSM Coating Resins B.V.
13.1. Key Customers by Industry
13.2. Technical and Commercial Unmet Needs
13.3. Supplier Selection Criteria
14.1. Abbreviations
14.2. Compilation of Expert Insights
14.3. Disclaimer
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