Automotive Refinish Market Set For Rapid Growth Due to Increasing Number of Road Accidents

The automotive refinish market involves products that repair and refinish vehicles damaged in accidents. Paints, primers, coatings, and other chemicals are used to refinish scratches and dents on vehicle exteriors and interiors. The need for automotive refinishing arises due to increasing road accidents globally. It provides an economical solution to repair vehicles without replacing entire vehicle parts.

Global automotive refinish market is estimated to be valued at USD 13.25 Billion in 2025 and is expected to reach USD 20.74 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2025 to 2032.

Key Takeaways

Key players operating in the automotive refinish market are Akzo Nobel N.V., Axalta Coating Systems, LLC, BASF SE, Berger Paints India Limited, Covestro AG, Donglai Coating Technology (Kunshan) Co., Ltd., Hebei Chenyang Industry & Trade Group Co., Ltd., Kansai Paint Co., Ltd., Mipa SE, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., Sherwin-Williams Company, Solvay S.A., Speedokote LLC, and Valspar Corporation. Axalta Coating Systems and PPG Industries collectively command over a quarter of the global automotive refinish market.

The market provides significant Automotive Refinish Market Opportunities for players in emerging economies to tap into the increasing number of road accidents. The Asia Pacific region, in particular, is anticipated to witness the highest demand for automotive refinish products.

Major players are focusing on global expansion by enhancing their distribution networks across countries. AkzoNobel for example has expanded in Mexico and Russia to cater to the growing refinish demand.

Market Drivers
- Increasing number of road accidents: Rise in number of vehicles on road and lack of adequate road infrastructure in developing nations has boosted accident rates globally. This drives demand for automotive refinish products.

Market Restrains
- Stringent environmental regulations: Certain automotive refinish paints and coatings contain volatile organic compounds (VOCs) harmful for environment. Growing environmental regulations pose a challenge for industry to develop eco-friendly products.

Segment Analysis
The automotive refinish market is dominated by the passenger cars sub-segment. Majority of vehicles plying on roads worldwide are passenger cars which require regular maintenance and repairs. This leads to higher consumption of automotive refinish paints and coatings. The commercial vehicles sub-segment is also expanding steadily due to increasing fleet operation of goods carriers.

Global Analysis
The Asia Pacific region is currently the fastest growing as well as dominant regional market for automotive refinish. Developing economies like China and India have witnessed a massive growth of the automobile sector over last decade due to rising income levels and demand for personal mobility solutions. This has positively impacted the sale of automotive refinish products. North America and Europe continue to be the traditional centers of automotive manufacturing globally. Both regions have experienced saturation in the automotive refinish market recently. However, maintenance and repair activities ensure steady demand generation.

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About Author:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

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