Asia-Pacific Refinished Paints Market, By Resin Type (Polyurethane Resin, Epoxy Resin, Acrylic Resin), Technology (Solvent borne Coating, Waterborne Coating, Powder Coating), Layer (Basecoat, Primer, Clear Coat, Sealer), Vehicle (Light Commercial Vehicle, Truck, Bus, Passenger Car), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific)- Industry Trends and Forecast to 2029.
Market Analysis and Insights: Asia-Pacific Refinished Paints Market
The refinished paints market is expected to witness market growth at a rate of 5.8% in the forecast period of 2022 to 2029. Data Bridge Market Research report on refinished paints market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in automotive sector globally is escalating the growth of refinished paints market.
The refinished paints are widely deployed among automotive body shops and repair centers to refinish the vehicles. Vehicles need to be repaired frequently for recover the damages caused by external factors such as damage due extreme temperature and accidents, and also for enhancing the appearance.
The rise in the number of vehicle sales across the region acts as one of the major factors driving the growth of refinished paints market. The increase in demand for passenger and recreational vehicles, and rise in vehicle collisions in conjunction with proclivity of owners to repair their vehicles accelerate the market growth. The implementation of new technologies and surge in demand for customized vehicles among population further influence the market. Additionally, surge in investment, increase in the disposable income, rapid urbanization and rise in automotive sector positively affect the refinished paints market. Furthermore, inclination towards water-borne refinish coatings, as they have comparatively low VOC levels extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, environmental issues regarding solvent-borne paints and volatility in raw material prices are expected to obstruct the market growth. The dearth of skilled professionals and stringent government regulations are projected to challenge the refinished paints market in the forecast period of 2022-2029.
This refinished paints market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on refinished paints market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Refinished Paints Market Scope and Market Size
The refinished paints market is segmented on the basis of resin type, technology, layer and vehicle. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of resin type, the refinished paints market is segmented into polyurethane resin, epoxy resin and acrylic resin.
- On the basis of technology, the refinished paints market is segmented into solvent borne coating, waterborne coating, and powder coating.
- On the basis of layer, the refinished paints market is segmented into basecoat, primer, clear coat and sealer.
- On the basis of vehicle, the refinished paints market is segmented into light commercial vehicle, truck, bus and passenger car.
Asia-Pacific Refinished Paints Market Country Level Analysis
The refinished paints market is segmented on the basis of resin type, technology, layer and vehicle.
The countries covered in the Asia-Pacific refinished paints market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan dominates the Asia-Pacific refinished paints market owning to the technological advancements in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Refinished Paints Market Share Analysis
The refinished paints market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to refinished paints market.
Some of the major players covered in the refinished paints market report are 3M, AkzoNobel NV., Alpscoatings, Axalta, BASF SE, BESA, Donglai Coating Technology Ltd., HMG Paints Limited, James Brigg Ltd., Kansai Paints Co. Ltd., Kapci Coatings, KCC Paints, The Lubrizol Corporation, MIPA SE, NIPSEA GROUP, NOROO Paint & Coatings Co. Ltd., Alpscoating, NOVOL, Samhwa Paints Industrial Co. Ltd., The Sherwin Williams Company, TOA Performance Coating Corporation, WEG, PPG Industries Inc., and Cresta Paint Industries Ltd., among others.
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