The Automotive Refinish Paints Market is expected to register a CAGR of 6% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Primer, Basecoat, Topcoat, Others). The report further presents analysis based on, Technology (Waterborne, Solvent borne, UV-Cured);. Based on resin type report is segmented into (Acrylic, Epoxy, Polyurethane, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Automotive Refinish Paints Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Automotive Refinish Paints Market Segmentation
Type- Primer
- Basecoat
- Topcoat
- Waterborne
- Solvent borne
- UV-Cured
- Acrylic
- Epoxy
- Polyurethane
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Automotive Refinish Paints Market Growth Drivers- Advancement in Paint Technology: Severe government regulations on vehicle safety and emissions control are affecting the automotive labels market. As countries begin to put stricter regulations in place, the manufacturers will have to adapt by prominently indicating the safety and environment aspects of their products. And this need for compliance is why the labels sector is expanding since automotive companies are keen on providing truthful information to their customers.
- Regulatory Pressures Drive Growth in Automotive Labels Market: In addition, these laws require new approaches to the efficiency of labeling technologies. For example, modern manufacturers are already working on more durable and visible materials and printing methods, new label technologies. Aside from providing basic information, the labels also play a role in marketing. The need to be compliant with laws and regulations helps to propel companies to develop and use high standards of quality labels which enhances the growth of the market.
- Consumer Demand for Safety and Environmental Features Fuel Labeling Innovations: Moreover, general public concerns about both safety and environmental aspects are increasing. More and more consumers look for cars that produce fewer emissions and have more safety features which in turn raised the need for such labels. Automotive labels are primarily used to show that a product adheres to certain standards, and as such, they help in making purchase decisions and building a knowledgeable market.
- Growing Demand for Sustainable Products: The increasing need for green and environmentally safe products is providing tremendous development potential for automotive refinish paints industry. A growing number of customers and their representatives simply refuse to use any products that do not have safe for the environment option, thus low-VOC and water-based paints are on the agenda for the producers. These compositions are targeted at emission controllable systems, which are parallel with the present global market movements and encourage the market.
- Eco-Friendly Innovations in Automotive Refinish Paints Drive Market Growth: Apart from that, considerations on the usage of refinish paints within the automotive sector are dictated by green issues. When businesses begin to implement eco-friendly production techniques, the requirment of envirnmentally acceptable paints becomes important. Automotive repair centers have started searching for items that reduces negative effects on the environment without compromising on their quality. Such trends instigate the developments of paint systems that are both visually appealing and environmentally friendly.
- Sustainability Awareness Prompts Industry Shift Toward Green and Low-VOC Paints: Moreover, the level of consciousness among the people regarding sustainability has increased. The vehicle owners are now aware of the environmental consequences of their decisions and hence, are willing to go for greener options for their finishing. Such aspects not only ensure better customer engagement but also force the firms to actualize eco-friendly product development initiatives in order to meet the demand of such consumers.
- Shift Towards Water-based and Low-VOC Paints: Among the benefits offered by water-based paints are ease of application and fast drying rates. They produce a better looking finish and enhanced color retention, thus complimenting the overall outlook. In an effort to enhance their offerings, automotive refinishing shops have been more inclined towards the technology, and this has led to more water based and low VOC paint demand.
- Environmental Regulations Propel Shift to Eco-Friendly Automotive Refinish Paints: Moreover, this trend is also being encouraged by the policies in place. Environmental policies in every region of the world are getting tougher regarding the use of high VOC products. This in turn leads to the development of new products and technologies in the market since the companies have to adhere to the rules. The players who are in the mix and go for these green technologies help themselves in the cutthroat world.
- Waterborne and Low-VOC Paint Trends Drive Market Growth and Innovation: To conclude, the trend emphasized on waterborne as well as low VOC paints is altering the dynamics of automotive refinish paints market. These developments are encouraging a more environmentally friendly method of automotive refinishing that meets the needs of the authorities as well as the customers hence expanding the market and growth opportunities for manufacturers and service providers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Automotive Refinish Paints Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Automotive Refinish Paints Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
#Growing Demand for Sustainable Products is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the automotive refinish paints market.
Akzo Nobel N.V, Axalta Coating Systems, LLC, and BASF SE are some of the key players operating in the automotive refinish paints market
Based on type, topcoat is expected to witness the fastest growth during the forecast period
The Automotive Refinish Paints Market is estimated to witness a CAGR of 6% from 2023 to 2031
Advancement in Paint Technology is driving the market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Automotive Refinish Paints Market - By Type
1.3.2 Automotive Refinish Paints Market - By Technology
1.3.3 Automotive Refinish Paints Market - By Resin Type
1.3.4 Automotive Refinish Paints Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE REFINISH PAINTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. AUTOMOTIVE REFINISH PAINTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AUTOMOTIVE REFINISH PAINTS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE REFINISH PAINTS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE REFINISH PAINTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AUTOMOTIVE REFINISH PAINTS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRIMER
7.3.1. Overview
7.3.2. Primer Market Forecast and Analysis
7.4. BASECOAT
7.4.1. Overview
7.4.2. Basecoat Market Forecast and Analysis
7.5. TOPCOAT
7.5.1. Overview
7.5.2. Topcoat Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. AUTOMOTIVE REFINISH PAINTS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. WATERBORNE
8.3.1. Overview
8.3.2. Waterborne Market Forecast and Analysis
8.4. SOLVENT BORNE
8.4.1. Overview
8.4.2. Solvent borne Market Forecast and Analysis
8.5. UV-CURED
8.5.1. Overview
8.5.2. UV-Cured Market Forecast and Analysis
9. AUTOMOTIVE REFINISH PAINTS MARKET - REVENUE AND FORECASTS TO 2028 - RESIN TYPE
9.1. OVERVIEW
9.2. RESIN TYPE MARKET FORECASTS AND ANALYSIS
9.3. ACRYLIC
9.3.1. Overview
9.3.2. Acrylic Market Forecast and Analysis
9.4. EPOXY
9.4.1. Overview
9.4.2. Epoxy Market Forecast and Analysis
9.5. POLYURETHANE
9.5.1. Overview
9.5.2. Polyurethane Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AUTOMOTIVE REFINISH PAINTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Automotive Refinish Paints Market Overview
10.1.2 North America Automotive Refinish Paints Market Forecasts and Analysis
10.1.3 North America Automotive Refinish Paints Market Forecasts and Analysis - By Type
10.1.4 North America Automotive Refinish Paints Market Forecasts and Analysis - By Technology
10.1.5 North America Automotive Refinish Paints Market Forecasts and Analysis - By Resin Type
10.1.6 North America Automotive Refinish Paints Market Forecasts and Analysis - By Countries
10.1.6.1 United States Automotive Refinish Paints Market
10.1.6.1.1 United States Automotive Refinish Paints Market by Type
10.1.6.1.2 United States Automotive Refinish Paints Market by Technology
10.1.6.1.3 United States Automotive Refinish Paints Market by Resin Type
10.1.6.2 Canada Automotive Refinish Paints Market
10.1.6.2.1 Canada Automotive Refinish Paints Market by Type
10.1.6.2.2 Canada Automotive Refinish Paints Market by Technology
10.1.6.2.3 Canada Automotive Refinish Paints Market by Resin Type
10.1.6.3 Mexico Automotive Refinish Paints Market
10.1.6.3.1 Mexico Automotive Refinish Paints Market by Type
10.1.6.3.2 Mexico Automotive Refinish Paints Market by Technology
10.1.6.3.3 Mexico Automotive Refinish Paints Market by Resin Type
10.2. EUROPE
10.2.1 Europe Automotive Refinish Paints Market Overview
10.2.2 Europe Automotive Refinish Paints Market Forecasts and Analysis
10.2.3 Europe Automotive Refinish Paints Market Forecasts and Analysis - By Type
10.2.4 Europe Automotive Refinish Paints Market Forecasts and Analysis - By Technology
10.2.5 Europe Automotive Refinish Paints Market Forecasts and Analysis - By Resin Type
10.2.6 Europe Automotive Refinish Paints Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Automotive Refinish Paints Market
10.2.6.1.1 Germany Automotive Refinish Paints Market by Type
10.2.6.1.2 Germany Automotive Refinish Paints Market by Technology
10.2.6.1.3 Germany Automotive Refinish Paints Market by Resin Type
10.2.6.2 France Automotive Refinish Paints Market
10.2.6.2.1 France Automotive Refinish Paints Market by Type
10.2.6.2.2 France Automotive Refinish Paints Market by Technology
10.2.6.2.3 France Automotive Refinish Paints Market by Resin Type
10.2.6.3 Italy Automotive Refinish Paints Market
10.2.6.3.1 Italy Automotive Refinish Paints Market by Type
10.2.6.3.2 Italy Automotive Refinish Paints Market by Technology
10.2.6.3.3 Italy Automotive Refinish Paints Market by Resin Type
10.2.6.4 United Kingdom Automotive Refinish Paints Market
10.2.6.4.1 United Kingdom Automotive Refinish Paints Market by Type
10.2.6.4.2 United Kingdom Automotive Refinish Paints Market by Technology
10.2.6.4.3 United Kingdom Automotive Refinish Paints Market by Resin Type
10.2.6.5 Russia Automotive Refinish Paints Market
10.2.6.5.1 Russia Automotive Refinish Paints Market by Type
10.2.6.5.2 Russia Automotive Refinish Paints Market by Technology
10.2.6.5.3 Russia Automotive Refinish Paints Market by Resin Type
10.2.6.6 Rest of Europe Automotive Refinish Paints Market
10.2.6.6.1 Rest of Europe Automotive Refinish Paints Market by Type
10.2.6.6.2 Rest of Europe Automotive Refinish Paints Market by Technology
10.2.6.6.3 Rest of Europe Automotive Refinish Paints Market by Resin Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Automotive Refinish Paints Market Overview
10.3.2 Asia-Pacific Automotive Refinish Paints Market Forecasts and Analysis
10.3.3 Asia-Pacific Automotive Refinish Paints Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Automotive Refinish Paints Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Automotive Refinish Paints Market Forecasts and Analysis - By Resin Type
10.3.6 Asia-Pacific Automotive Refinish Paints Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Automotive Refinish Paints Market
10.3.6.1.1 Australia Automotive Refinish Paints Market by Type
10.3.6.1.2 Australia Automotive Refinish Paints Market by Technology
10.3.6.1.3 Australia Automotive Refinish Paints Market by Resin Type
10.3.6.2 China Automotive Refinish Paints Market
10.3.6.2.1 China Automotive Refinish Paints Market by Type
10.3.6.2.2 China Automotive Refinish Paints Market by Technology
10.3.6.2.3 China Automotive Refinish Paints Market by Resin Type
10.3.6.3 India Automotive Refinish Paints Market
10.3.6.3.1 India Automotive Refinish Paints Market by Type
10.3.6.3.2 India Automotive Refinish Paints Market by Technology
10.3.6.3.3 India Automotive Refinish Paints Market by Resin Type
10.3.6.4 Japan Automotive Refinish Paints Market
10.3.6.4.1 Japan Automotive Refinish Paints Market by Type
10.3.6.4.2 Japan Automotive Refinish Paints Market by Technology
10.3.6.4.3 Japan Automotive Refinish Paints Market by Resin Type
10.3.6.5 South Korea Automotive Refinish Paints Market
10.3.6.5.1 South Korea Automotive Refinish Paints Market by Type
10.3.6.5.2 South Korea Automotive Refinish Paints Market by Technology
10.3.6.5.3 South Korea Automotive Refinish Paints Market by Resin Type
10.3.6.6 Rest of Asia-Pacific Automotive Refinish Paints Market
10.3.6.6.1 Rest of Asia-Pacific Automotive Refinish Paints Market by Type
10.3.6.6.2 Rest of Asia-Pacific Automotive Refinish Paints Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Automotive Refinish Paints Market by Resin Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Automotive Refinish Paints Market Overview
10.4.2 Middle East and Africa Automotive Refinish Paints Market Forecasts and Analysis
10.4.3 Middle East and Africa Automotive Refinish Paints Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Automotive Refinish Paints Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Automotive Refinish Paints Market Forecasts and Analysis - By Resin Type
10.4.6 Middle East and Africa Automotive Refinish Paints Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Automotive Refinish Paints Market
10.4.6.1.1 South Africa Automotive Refinish Paints Market by Type
10.4.6.1.2 South Africa Automotive Refinish Paints Market by Technology
10.4.6.1.3 South Africa Automotive Refinish Paints Market by Resin Type
10.4.6.2 Saudi Arabia Automotive Refinish Paints Market
10.4.6.2.1 Saudi Arabia Automotive Refinish Paints Market by Type
10.4.6.2.2 Saudi Arabia Automotive Refinish Paints Market by Technology
10.4.6.2.3 Saudi Arabia Automotive Refinish Paints Market by Resin Type
10.4.6.3 U.A.E Automotive Refinish Paints Market
10.4.6.3.1 U.A.E Automotive Refinish Paints Market by Type
10.4.6.3.2 U.A.E Automotive Refinish Paints Market by Technology
10.4.6.3.3 U.A.E Automotive Refinish Paints Market by Resin Type
10.4.6.4 Rest of Middle East and Africa Automotive Refinish Paints Market
10.4.6.4.1 Rest of Middle East and Africa Automotive Refinish Paints Market by Type
10.4.6.4.2 Rest of Middle East and Africa Automotive Refinish Paints Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Automotive Refinish Paints Market by Resin Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Automotive Refinish Paints Market Overview
10.5.2 South and Central America Automotive Refinish Paints Market Forecasts and Analysis
10.5.3 South and Central America Automotive Refinish Paints Market Forecasts and Analysis - By Type
10.5.4 South and Central America Automotive Refinish Paints Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Automotive Refinish Paints Market Forecasts and Analysis - By Resin Type
10.5.6 South and Central America Automotive Refinish Paints Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Automotive Refinish Paints Market
10.5.6.1.1 Brazil Automotive Refinish Paints Market by Type
10.5.6.1.2 Brazil Automotive Refinish Paints Market by Technology
10.5.6.1.3 Brazil Automotive Refinish Paints Market by Resin Type
10.5.6.2 Argentina Automotive Refinish Paints Market
10.5.6.2.1 Argentina Automotive Refinish Paints Market by Type
10.5.6.2.2 Argentina Automotive Refinish Paints Market by Technology
10.5.6.2.3 Argentina Automotive Refinish Paints Market by Resin Type
10.5.6.3 Rest of South and Central America Automotive Refinish Paints Market
10.5.6.3.1 Rest of South and Central America Automotive Refinish Paints Market by Type
10.5.6.3.2 Rest of South and Central America Automotive Refinish Paints Market by Technology
10.5.6.3.3 Rest of South and Central America Automotive Refinish Paints Market by Resin Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. AUTOMOTIVE REFINISH PAINTS MARKET, KEY COMPANY PROFILES
12.1. AKZO NOBEL N.V
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. AXALTA COATING SYSTEMS, LLC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BASF SE
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. KANSAI PAINT CO., LTD.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. KCC CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MITSUI CHEMICALS INDIA PVT. LTD
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NIPPON PAINT
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. PPG INDUSTRIES, INC
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. THE SHERWIN-WILLIAMS COMPANY
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. VALSPAR
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
12.11. DUPONT
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
12.12. ANGEL COATING
12.12.1. Key Facts
12.12.2. Business Description
12.12.3. Products and Services
12.12.4. Financial Overview
12.12.5. SWOT Analysis
12.12.6. Key Developments
12.13. DUPLI-COLOR
12.13.1. Key Facts
12.13.2. Business Description
12.13.3. Products and Services
12.13.4. Financial Overview
12.13.5. SWOT Analysis
12.13.6. Key Developments
12.14. SOLVAY
12.14.1. Key Facts
12.14.2. Business Description
12.14.3. Products and Services
12.14.4. Financial Overview
12.14.5. SWOT Analysis
12.14.6. Key Developments
12.15. 3M
12.15.1. Key Facts
12.15.2. Business Description
12.15.3. Products and Services
12.15.4. Financial Overview
12.15.5. SWOT Analysis
12.15.6. Key Developments
12.16. CLARIANT AG
12.16.1. Key Facts
12.16.2. Business Description
12.16.3. Products and Services
12.16.4. Financial Overview
12.16.5. SWOT Analysis
12.16.6. Key Developments
12.17. CONCEPT PAINTS
12.17.1. Key Facts
12.17.2. Business Description
12.17.3. Products and Services
12.17.4. Financial Overview
12.17.5. SWOT Analysis
12.17.6. Key Developments
12.18. PHOENIX LACQUERS AND PAINTS MFG PTY LTD.
12.18.1. Key Facts
12.18.2. Business Description
12.18.3. Products and Services
12.18.4. Financial Overview
12.18.5. SWOT Analysis
12.18.6. Key Developments
12.19. VG AUTO PAINTS
12.19.1. Key Facts
12.19.2. Business Description
12.19.3. Products and Services
12.19.4. Financial Overview
12.19.5. SWOT Analysis
12.19.6. Key Developments
12.20. PARK AUTOMOTIVE
12.20.1. Key Facts
12.20.2. Business Description
12.20.3. Products and Services
12.20.4. Financial Overview
12.20.5. SWOT Analysis
12.20.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Akzo Nobel N.V
2. Axalta Coating Systems, LLC
3. BASF SE
4. Kansai Paint Co., Ltd.
5. KCC CORPORATION
6. Mitsui Chemicals India Pvt. Ltd
7. NIPPON PAINT
8. PPG INDUSTRIES, INC
9. The Sherwin-Williams Company
10. Valspar
11. Dupont
12. Angel Coating
13. Dupli-Color
14. Solvay
15. 3M
16. Clariant AG
17. Concept Paints
18. Phoenix Lacquers and Paints MFG Pty Ltd.
19. VG Auto Paints
20.Park Automotive
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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