Refinish Paint Market Analysis

Coating Type (Epoxy, Polyurethane, Acrylic)

Polyurethane segment in the refinish paint market is expected to hold the largest share of 48% during the forecast period. The growth can be attributed to their superior durability and gloss retention properties, making them a preferred choice for automotive refinishing. Paints made of polyurethane are known for their extraordinary durability. In contrast to conventional acrylic or enamel paints, polyurethane creates a strong, weatherproof barrier surrounding your car that can endure UV radiation, rain, and extremely hot or cold conditions. This resilience results in a finish that lasts longer and keeps its shine and color integrity over time, thereby lowering the frequency of touch-ups or repaints. Polyurethane is a crucial component of automotive paints and coatings technology, which are used by many of the world's top automakers. Polyurethane paints provide the automobile sector with an environmentally friendly alternative in an era that is focused on sustainability and minimizing environmental effect. Polyurethane paints, in contrast to conventional solvent-based paints, are water-based and release fewer volatile organic compounds (VOCs) when applied.

End-use (Automotive, Aerospace, Marine, Industrial)

Automotive segment in the refinish paint market is expected to hold a share of 40% during the forecast period. The segment is driving due to the consistently high demand for vehicle repair and customization. The majority of automobiles on the road are passenger cars, and as such, they are exposed to a number of outside variables that can cause wear and tear, including weathering, accidents, and regular use. The growing number of passenger cars is also accelerating the growth of the market. For instance, almost 62 million passenger automobiles were produced globally in 2022. Also, a new and emerging technology that has the potential to completely transform the auto industry is called smart coatings. These coatings have the ability to change color, clean themselves, and shield vehicles from harm, among other interactions with their environment.

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