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Factors fueling growth for the auto refinish market include increased vehicle usage and the global increase in vehicle ownership.
October 10, 2023
By: KERRY PIANOFORTE
Editor, Coatings World
The global automotive refinish coatings market size reached $10 billion in 2022, according to market research firm IMARC Group. Their analysts predict that the market will reach $13.2 billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028. Growth can be attributed to a steady increase in global vehicle ownership and usage, the development of eco-friendly and high-performance coatings and the implementation of strict environmental regulations and increasing awareness of sustainability. This increased demand for auto refinishing services has challenged manufacturers to deliver sustainable, cost-effective and accurate systems. Not only must these products be compliant with environmental regulations, but they must also help increase productivity and deliver top-notch color matching results. Here is a look at the latest product offerings from the top auto refinish manufacturers:
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