TMR_Research_Reports_2017 Automotive Refinish Coatings Market Research 2024 | Página 2

Automotive Refinish Coatings Market
REPORT DESCRIPTION
Automotive Refinish Coatings Market (Product Type - Primer, Base
Coat, Clear Coat, Activator, Filler; By Technology - Solvent Borne
Coatings, Water Borne Coatings) - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 - 2024
The top five players in the global automotive refinish coatings market represented 65% of its
value in 2015, pointing towards highly consolidated nature of the market. Axalta Coatings Systems
LLC and PPG Industries, the top two vendors, held a cumulative share of over 40% of the market,
finds Transparency Market Research (TMR) in a new study.
“The majority of companies operating in the market are focusing towards the development of effective
water-borne varieties of automotive refinish coatings,” says TMR’s lead analyst. The global
automotive refinish coatings market is anticipated to progress at a CAGR of 5.7% from 2016 to 2024,
rising to a valuation of US$10.8 bn by 2024 from US$6.6 bn in 2015
Booming Second Hand Vehicle Market Triggers Demand for Automotive Refinish Coatings in
North America
On the basis of product varieties, base coat will continue to dominate the market until 2024,
accounting for 31% of the overall market revenue. The rising number of road accidents and used
vehicles is leading to the higher demand for base coat. The activators segment is expected to expand
at a noteworthy CAGR during the review period, thanks to the expansion of car parc in developing
regions.
Browse Market Research Report @
http://www.transparencymarketresearch.com/automotive-refinish-coatings-
market.html
Geographically, North America will continue to command the lion’s share in the global arena until
2024. High disposable income and the booming market for second-hand vehicles are key factors
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Transparency Market Research