Kerry Pianoforte, Editor09.30.19
The global automotive refinish coatings market is expected to reach $11.34 billion by 2026, according to a new report by Reports and Data. This can be mainly associated with increasing disposable income, changing lifestyle and buying behavior of people and the demand for luxury vehicles from this segment.
“The Vehicle Refinish market size and growth is generally governed by the car parc, accident rates and repair rates,” said Ed Hilborne, AkzoNobel’s global segment manager for Vehicle Refinishes. “The growth in the global car parc of circa 3.8 percent (per annum) is leading, but can be offset by other indicators such as driver aids known as Advanced Driver Assistance Systems (ADAS), road safety and legislation, leading to overall growth of crash repairs of around 2.5 percent.”
Hilborne said market drivers are regionally fragmented, with differences observed between mature and developing markets. “The mature European and North American markets are the largest in value and volume of repairs, but the balance is changing with the rapidly growing car population in Asia,” he continued. “It means over
“The Vehicle Refinish market size and growth is generally governed by the car parc, accident rates and repair rates,” said Ed Hilborne, AkzoNobel’s global segment manager for Vehicle Refinishes. “The growth in the global car parc of circa 3.8 percent (per annum) is leading, but can be offset by other indicators such as driver aids known as Advanced Driver Assistance Systems (ADAS), road safety and legislation, leading to overall growth of crash repairs of around 2.5 percent.”
Hilborne said market drivers are regionally fragmented, with differences observed between mature and developing markets. “The mature European and North American markets are the largest in value and volume of repairs, but the balance is changing with the rapidly growing car population in Asia,” he continued. “It means over
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