Refinish Paint Market Regional Analysis:
North American Market Insights
North American refinish paint market is poised to hold a share of 37% during the forecast period. The North American market is highly significant due to its large car industry, high rate of vehicle ownership, and well-established network of collision centers and auto repair shops. For instance, in the United States, there were over 282 million registered automobiles as of 2021. Just 4.3 million of these were owned by the government. The need for refinish paint products in the nation is also fueled by a growing trend toward bespoke paint jobs and a preference for eco-friendly coatings. Tight environmental laws also encourage the use of waterborne and low-VOC coatings. Continuous technical breakthroughs, strong infrastructure, and a competitive environment with the presence of significant global manufacturers and suppliers all contribute to the U.S. market's supremacy.
APAC Market Insights
Refinish paint market in Asia Pacific is poised to hold a share of 26% by the end of 2035. Due to a significant rise in the number of cars in the area in recent years, Asia Pacific is predicted to develop at the fastest rate and have the highest share of the market. The need for car refinishes products is further increased by the developing countries' ongoing efforts to upgrade their road infrastructure. Also, increase in disposable incomes and urbanization is bolstering the growth of market.
