Global Refinish Market to Surpass $11B by 2026
April 10, 2019—The global automotive refinish coatings market is expected to reach $11.34 billion by 2026, according to a new report by Reports and Data.
The growth can be mainly associated with the increasing disposable income, changing lifestyle and buying behavior of consumers, and the demand for luxury vehicles from the segment.
Key findings from the report included:
- The market is segmented on the basis of resin type into epoxy, alkyd, polyurethane, others.
- The polyurethane segment dominated the market in 2018, and is projected to grow at a CAGR of 2.2 percent during the forecast period, since it is less expensive, environment-friendly and also versatile.
- The market is segmented on the basis of product into primer, basecoat, clear coat, activator, filler & putty.
- Clear coats held the largest share of the market in 2018. It is expected to have a growth rate of 3.4 percent during the forecast period.