Your CatalystTo a Lucrative Business
The automobile industry is expected to grow on account of increasing demand for passenger cars. Increasing
number of accidents due to the lack of proper infrastructure is projected to drive the demand for spare parts
and other special tools. The collision repair market is expected to grow at a CAGR of 2.5% from 2017 to 2025.
The requirement of quick turnaround time for replacement of parts is likely to be an opportunity for growth of
the market.
Companies are investing extensively in R&D to enhance technology. For instance, in July 2016, BASF announced
plans to step up its R&D activities for automotive coatings to a new world-class platform at the BASF Innovation
Campus Asia Pacific in Shanghai, China.
In addition to this companies are adopting the strategy of merger & acquisition. In February 2016, 3M
Automotive Aftermarket Division collaborated with the German-based Tool Technic Systems AG & Co. KG to
provide the collision repair industry a comprehensive surface preparation and finishing system. The new system
is expected to launch in US and Canada impacting the growth of the market in North America.
In September 2016, BASF acquired Guangdong Yinfan Chemistry, China. This acquisition resulted in an addition
of Yinfan’s products to BASF’s portfolio and enabled BASF to expand its portfolio in Asia Pacific.
Hexa Research has segmented the global automotive collision repair market on the basis of product, vehicle
type, end-use and region:
Segmentation by product, 2014 - 2025 (USD Million)
• Paints & Coatings
• Consumables
• Abrasives
• Fine Abrasives
• Coarse Abrasives
• Compound
• Polishes
• Glazes
• Paint Spray Equipment
• Paint cups
• Others
• Cleaners and Removers
• Buffing pads
• Others
Segmentation by type of vehicle, 2014 - 2025 (USD Million)
• Light Duty Vehicle
• Heavy Duty Vehicle
Segmentation by end use, 2014 - 2025 (USD Million)
• OEM Manufactures
• Recycled OEM
• Aftermarkets
• Refurbished Products
Segmentation by region, 2014 - 2025 (USD Million)
• North America
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