Refinish Paints

Refinish Paints

Global Refinish Paints Market to Reach US$12.9 Billion by 2030

The global market for Refinish Paints estimated at US$9.2 Billion in the year 2023, is expected to reach US$12.9 Billion by 2030, growing at a CAGR of 5.0% over the analysis period 2023-2030. Polyurethane Resin, one of the segments analyzed in the report, is expected to record a 5.7% CAGR and reach US$6.3 Billion by the end of the analysis period. Growth in the Epoxy Resin segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.4 Billion While China is Forecast to Grow at 7.7% CAGR

The Refinish Paints market in the U.S. is estimated at US$2.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Global Refinish Paints Market - Key Trends & Drivers Summarized

What Are Refinish Paints, and Why Are They Essential in Automotive Repair?

Refinish paints are specialized coatings used to repair and restore the appearance of vehicles after damage, scratches, or wear, often applied by professional auto body shops and repair centers. Unlike the original paint applied during manufacturing, refinish paints must match existing colors, finishes, and textures while providing a durable, long-lasting solution that can withstand environmental exposure and daily wear. Refinish paints are vital in the automotive aftermarket industry, as they enable vehicle owners to maintain or restore their vehicles’ aesthetics and value, whether for individual resale, fleet management, or insurance claims. The versatility and demand for refinish paints are steadily growing as consumers and businesses invest in vehicle maintenance, making refinish paints an essential product in the automotive industry.

Refinish paints are formulated for easy application, quick drying, and color accuracy, meeting both aesthetic and functional needs. The automotive refinish paint process typically involves multiple layers, including primers, base coats, and clear coats, to ensure proper adhesion, color depth, and protection against factors like UV rays, moisture, and corrosion. These properties make refinish paints crucial for high-quality vehicle repair and customization, and as more consumers prioritize maintaining vehicle appearance and extending lifespan, the demand for refinish paints continues to expand. Additionally, the rise in automotive ownership, increasing numbers of vehicles on the road, and higher rates of minor collisions in urban areas are all driving steady demand for automotive refinishing.

How Are Eco-Friendly Innovations Shaping the Refinish Paint Market?

As sustainability becomes increasingly important across industries, eco-friendly innovations are transforming the refinish paint market. Traditional solvent-based refinish paints contain volatile organic compounds (VOCs), which can pose health risks and contribute to environmental pollution. In response, manufacturers are developing waterborne refinish paints that significantly reduce VOC emissions while maintaining high performance in terms of durability, adhesion, and color matching. Waterborne paints are gaining popularity among automotive repair centers and regulatory agencies alike, as they align with stricter environmental standards and offer a safer alternative for professionals working in enclosed spaces.

Low-VOC and VOC-free paints are also emerging, as are high-solid formulations, which use less solvent and deliver improved coverage with minimal environmental impact. Additionally, advances in UV-cured coatings, which dry rapidly when exposed to UV light, are providing faster turnaround times while consuming less energy. These innovations reduce waste, emissions, and energy consumption, helping auto body shops comply with increasingly stringent environmental regulations. With the global trend toward sustainability, eco-friendly refinish paints are not only meeting regulatory demands but also appealing to environmentally conscious consumers, pushing refinish paint manufacturers to prioritize greener, safer formulations that perform as well as traditional solvent-based paints.

What Are the Different Types of Refinish Paints and Their Applications?

Refinish paints come in several types, each with distinct applications and properties tailored to specific repair needs. Primers are used as the foundational layer, ensuring strong adhesion between the surface and subsequent paint layers. They often contain anti-corrosive agents and fillers to smooth imperfections, providing a uniform base for the paint layers above. Base coats, which carry the actual color, offer high opacity and coverage, allowing technicians to achieve precise color matching with the vehicle’s original finish. Base coats are often used with clear coats, particularly in metallic and pearlescent finishes, to add depth and shimmer to the paint, giving the vehicle a high-quality, polished appearance.

Clear coats are protective layers that enhance durability, shine, and resistance to scratches, UV light, and weather exposure. These are typically applied over base coats to seal and protect the paint job, prolonging its lifespan and maintaining the vehicle’s aesthetic appeal. In recent years, single-stage paints, which combine base and clear coat functions in a single application, have become popular for minor repairs and quick refinishing projects, offering a cost-effective option for small touch-ups. Specialty paints, including matte and custom finishes, are also increasingly popular as consumers seek personalized looks. By providing a variety of formulations to meet different needs, the refinish paint market caters to both standard repairs and high-end customizations, making it a versatile solution in automotive restoration and aesthetic enhancement.

What Is Driving Growth in the Global Refinish Paints Market?

The growth in the global refinish paints market is driven by several factors, including the rising number of vehicles on the road, advancements in paint technology, and increasing consumer preference for high-quality vehicle maintenance. With higher vehicle ownership and rising disposable incomes, particularly in emerging markets, more consumers are investing in vehicle upkeep and repairs, supporting growth in the refinish paint segment. Additionally, the increase in minor collisions, dents, and scratches—especially in densely populated urban areas—fuels demand for refinishing services, as consumers seek to maintain the visual appeal and resale value of their vehicles. Insurance policies that cover vehicle repairs and promote regular maintenance are also a driving force, as they often include coverage for repainting, pushing repair shops and consumers toward quality refinish paint solutions.

Innovations in refinish paint technology, such as faster-drying formulations, improved color-matching capabilities, and sustainable, low-VOC options, are further boosting market growth. These advancements not only make refinish paints more attractive to consumers but also enhance efficiency for auto body shops by reducing application time and improving results. Additionally, the global trend toward sustainability is pushing manufacturers to invest in eco-friendly solutions, such as waterborne and low-VOC paints, to meet regulatory standards and appeal to environmentally conscious buyers. Together, these factors are contributing to a robust growth trajectory for the refinish paints market, positioning it as a vital component of the automotive aftermarket as demand for aesthetic, sustainable, and high-quality vehicle maintenance solutions continues to rise.

SCOPE OF STUDY:

The report analyzes the Refinish Paints market in terms of US$ Million by the following End-Use; Resin; Technology, and Geographic Regions/Countries:

Segments:
Resin (Polyurethane, Epoxy, Acrylic, Other Resins); Technology (Solvent-borne, Water-borne, Powder); End-Use (Passenger Cars, Light Commercial Vehicles, Trucks, Buses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 42 Featured) -

• 3M
• Akzo Nobel N.V.
• Alpscoating
• Axalta Coating Systems
• BASF SE
• Besa
• Cresta Paint Industries Ltd.
• Donglai
• Guangzhou Zhenroumei Chemical Coating Ltd.
• HMG Paints Limited and Kansai Paint Co. Ltd.
• James Briggs Ltd.
• KAPCI Coatings
• KCC Corporation
• Mipa SE
• Nippon Paint Holdings Co. Ltd.
• Noroo Paint & Coatings Co. Ltd.
• Novol SP. Z O.O.
• PPG Industries, Inc.
• The Lubrizol Corporation
• The Sherwin-Williams Company
• TOA Performance Coating Corporation Co. Ltd.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.