Global Automotive Refinish Coatings Market: Expect to Register a CAGR of 5.3%

The "Global Automotive Refinish Coatings Market: Focus on Product Type (Clearcoats, Basecoats, Primer & Filler), Technology (Solvent-Borne, Water-Borne, UV Cured), Resin Type, Automotive Type and Vehicle Age - Analysis and Forecast: 2017 to 2021" report has been added to ResearchAndMarkets.com's offering.

In terms of value, global automotive refinish coatings market was estimated at $7,850.0 million in 2016, and is expected to register a CAGR of 5.3% from 2016 to 2021.

In terms of volume, the global automotive refinish coatings market is expected to register a CAGR of 4.5% between 2016 and 2021.

The growth is attributed to the rising disposable income, increasing number of vehicle collisions, growing demand for recreational vehicles, and increase in the average age of vehicles, among others. However, stringent regulations for volatile organic compound (VOC) emissions, and lack of skilled professionals are some of the factors hampering the growth of the global automotive refinish coatings market.

The development of environment friendly technologies, increasing number of rental car owners and used car markets, and the growing demand from the emerging economies such as China, India, Japan, and Brazil, among others, are expected to create opportunities for the growth of the global automotive refinish coatings market.

The prominent players operating in the global automotive refinish coatings market are include Axalta Coatings Systems, PPG Industries Inc., AkzoNobel N.V., BASF SE, Sherwin Williams, KCC Paints, Covestro, Berger Paints, Kansai Paint, Nippon Paint, NOROO Paint, Lubrizol Corporation, S.Coat, and Diamond Vogel, among others.