Automotive refinish paint covers all the repainting of vehicles for repair, protection, and decorative purpose. Refinish paint is often carried out after a vehicle is involved in a collision and requires body repair. It is also carried out after a certain period when the vehicle needs to be refurbished to ensure protection from corrosion. Most of the refinish paint are of solventborne, waterborne, and powder technology. These coatings use different resins, including polyurethane, epoxy, acrylic, and others. Different layers of refinish paint are clearcoat, basecoat, primer, and sealer.
Key players operating in the refinish paint for automotive market have adopted various strategies to strengthen their position in the market. Mergers & acquisition was the key strategy adopted by the leading market players to achieve growth in the refinish paint for automotive market between 2014 and 2017. Key players in the market also adopted strategies, such as new product launches to increase their shares in the refinish paint for automotive market and strengthen their distribution networks.
Axalta (US), PPG Industries (US), BASF (Germany), Sherwin-Williams (US), Kansai Paint (Japan), Nippon Paint (Japan), KCC Corporation (Korea), and AkzoNobel (Netherlands) are some of the leading players in the refinish paint for automotive market.
Axalta (US) is one of the leading companies in the refinish paint for automotive market. The company offers refinish paint for various layers such as clearcoat, basecoat, primer, and sealer. The company has acquired High Performance Coatings (HIPIC) (Malaysia), and Metalak Benelux (Netherlands) to strengthen its market and enhance its technology portfolio.
Similarly, in 2017, PPG Industries (US) acquired Futian Xinshi (China). The acquisition enhances PPG’s position in the growing Chinese refinish paint for automotive market. Futian Xinshi has proven its growth and profitability by leveraging well-positioned brands, mature technology, low-cost operations, and a solid-performing distribution base.
Refinish Paint Market by Layer (Clearcoat, Basecoat, Primer, & Sealer), Resin (PU, Epoxy, & Acrylic), Technology (Waterborne, Solventborne & Powder), Vehicle (Passenger Cars, Commercial Vehicles), and Region - Global Forecast to 2022
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