Automotive Refinish Coating Market Analysis

Type (Primer, Basecoat, Clearcoat, Activator/Hardener)

Basecoat segment is predicted to hold more than 34.2% automotive refinish coating market share by 2037. The rising number of old cars is leveraging the demand for quality basecoats. Variations in colors and finishing make this segment suitable for creating personalized vehicle aesthetics. Innovative formulations can improve its durability and application. Water-based and other sustainable basecoats can easily comply with strict environmental regulations, further, promoting expansion in research and development. In May 2023, 3M partnered with Svante Technologies to develop a science-based climate-friendly solution. The developed coating material is dedicated to capturing and removing atmospheric CO2.

Material (Polyurethanes, Acrylics, Alkyd, Epoxy)

Based on material type, the polyurethane segment is presenting lucrative growth in the automotive refinish coating market. Its superior resistance to harsh chemicals, UV light, and extreme weather makes it preferable for professional customizers. The high-gloss finish provides a pleasing visual appeal to the vehicle. Various options for application methods such as spraying and brushing can be utilized for a range of substrates. The usage of waterborne polyurethane coatings over traditional solvent-based solutions is increasing. Further, being fit to operate along environmental regulations. In September 2020, BASF launched a waterborne basecoat product line for automobile paint. Such innovations are creating a developmental scope in the production of sustainable coating materials.

Our in-depth analysis of the market includes the following segments: