Automotive Refinish Coatings Market Size, Share, Growth Analysis, By Vehicle Age(<5 years, 5-10 years, >10 years), By Product(Primer, Filler, Basecoat, Topcoat), By Resin Type(Acrylic, Alkyd, Polyurethane, Others), By Technology(Solvent based, Water based, UV-Cured), By Region - Industry Forecast 2024-2031

Asia-Pacific dominated the market with a revenue share of 44.2% in 2023. This is mainly due to the growing automotive industry in countries such as China and India. Increasing disposable income is driving the demand for personal vehicles has grown and is fueling the increasing demand for vehicle repairs and maintenance. In addition, the region’s increasing urbanization and expansion of roads contribute to increased accidents, leading to demand for coatings. Furthermore, the company’s focus on solutions, low cost overhead and availability of skilled manpower makes it a desirable destination for automotive coating innovation, further contributing to the growth of the market. The market is also dominated by large fleets in countries such as China and India, as older vehicles must be regularly repaired and repainted. 

North America region is anticipated to witness significant automotive refinish coating market growth. Major automotive manufacturers in the North America region and well-established aftermarket infrastructure contribute to the expansion of the market. Furthermore, the frequency of accidents and the prevalence of severe weather conditions, demand for cars are regularly repaired and repainted, which keeps the market growing. It is expected that the automotive refinish coatings market for automotive remanufacturing is set to grow rapidly in the coming years owing to the huge availability of automobiles in the country. A substantial proportion experiences the lifetime of extensive maintenance and reconstruction, requiring continued search for additional coatings. Furthermore, the growing trend toward customization and customization in the US. among consumers is driving the market again.