Refinish Paint for Automotive Market Insights and Updates 2031
The Refinish Paint for Automotive Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The refinish paint for automotive market report is segmented by type (acrylic, epoxy, alkyd, polyurethane, and others). The market is segmented based on product type (primer, top coat, base coat, and others). The market is segmented based on technology (solvent-borne, water-borne, and others). The market is segmented based on vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and others). The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities. The report also covers industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the market.
Purpose of the ReportThe report Refinish Paint for Automotive 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.
Refinish Paint for Automotive Market Segmentation
Type- Acrylic
- Epoxy
- Alkyd
- Polyurethane
- Primer
- Top Coat
- Base Coat
Strategic Insights
Refinish Paint for Automotive Market Growth Drivers- Rising Vehicle Ownership and Accident Rates: With increasing global vehicle ownership and accident rates, there is a growing need for vehicle repairs and refurbishing, which fuels the demand for automotive refinish paints. Repainting is a common part of vehicle repair processes, driving the market.
- Advancements in Automotive Paint Technologies: The development of advanced automotive refinish paints, such as waterborne and eco-friendly formulations, is contributing to market growth. These paints offer improved durability, enhanced aesthetics, and lower environmental impact, aligning with the industry's push for sustainability.
- Growing Automotive Aftermarket Industry: The expanding automotive aftermarket, driven by factors such as customization, repairs, and maintenance services, is a significant driver for the refinish paint market. The trend toward vehicle customization, including color changes and finishes, boosts demand for a variety of automotive refinish paints.
- Increase in Vehicle Repair and Maintenance: As the global vehicle fleet expands and ages, the demand for automotive refinishing services is rising. Refinish paints are used in collision repair, scratch restoration, and general vehicle maintenance. The growing trend of vehicle ownership, coupled with the need for regular repair and maintenance, drives the demand for high-quality refinish paints that provide durability, aesthetic appeal, and protection from environmental factors.
- Technological Advancements in Paint Formulations: Manufacturers are developing advanced, high-performance refinish paints with enhanced properties such as faster drying times, better color match, improved scratch resistance, and UV stability. Waterborne and eco-friendly formulations are gaining traction due to their lower environmental impact compared to solvent-based alternatives. These innovations are boosting the adoption of refinish paints in the automotive repair sector, where quality and environmental sustainability are becoming more important.
- Growing Preference for Customization and Aesthetic Enhancements: As consumers seek personalized and aesthetically unique vehicles, there is an increasing demand for custom paint jobs and finishes. Refinish paints are being used not only for repairs but also for customization, including special effects, metallic finishes, and unique color choices. The automotive customization trend is particularly strong in regions like North America and Europe, where consumers are willing to invest in personalized vehicle aesthetics. This trend is driving demand for a wider range of refinish paint products.
- Rising Demand for Vehicle Customization and Aesthetic Enhancements: As consumers increasingly focus on personalizing their vehicles, the demand for automotive refinish paints is growing. Custom colors, finishes, and effects such as metallic and pearlescent paints are becoming more popular, driving the need for high-quality refinish paints. The rise in car modifications, including body repair and paint jobs, is contributing to market expansion.
- Growth in the Automotive Repair and Maintenance Industry: With the increasing number of vehicles on the road, the automotive repair and maintenance market is expanding. Refurbishing damaged vehicles, whether due to accidents or wear and tear, requires high-quality refinish paints. The continued growth of the global vehicle fleet, especially in emerging economies, is driving the demand for automotive refinish paints for repair, restoration, and maintenance purposes.
- Technological Advancements and Eco-friendly Trends: The development of advanced refinish paint technologies, such as water-based paints and low-VOC (volatile organic compound) options, is creating new growth opportunities in the market. As environmental regulations become stricter, both consumers and manufacturers are increasingly shifting toward eco-friendly alternatives. These innovations not only meet regulatory requirements but also appeal to environmentally conscious consumers, further driving the market's growth.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Refinish Paint for Automotive 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 Refinish Paint for Automotive 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
Shift toward environmentally friendly and sustainable paints are expected to be the key market trends.
Rising automotive production and aftermarket demand are driving the market growth.
The Sherwin-Williams Company, PPG Industries, 3M Company, BASF SE, Nippon Paint Holdings Co Ltd, KCC Corporation, FLP Group, Berger Paints India Limited, Kansai Paint Co Ltd and Akzo Nobel N.V. are the key players operating in the refinish paint for automotive market.
Based on technology, the water-borne segment is expected to witness the fastest growth during the forecast period.
Based on geography, Asia Pacific held the largest share of the refinish paint for automotive market due to the strong growth of the automotive industry in the region.
The Refinish Paint for Automotive Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Refinish Paint For Automotive Market - By Product Type
1.3.2 Refinish Paint For Automotive Market - By Technology
1.3.3 Refinish Paint For Automotive Market - By Resin
1.3.4 Refinish Paint For Automotive Market - By Vehicle Type
1.3.5 Refinish Paint For Automotive Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REFINISH PAINT FOR AUTOMOTIVE 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. REFINISH PAINT FOR AUTOMOTIVE 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. REFINISH PAINT FOR AUTOMOTIVE MARKET - GLOBAL MARKET ANALYSIS
6.1. REFINISH PAINT FOR AUTOMOTIVE - GLOBAL MARKET OVERVIEW
6.2. REFINISH PAINT FOR AUTOMOTIVE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. REFINISH PAINT FOR AUTOMOTIVE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLEARCOAT
7.3.1. Overview
7.3.2. Clearcoat Market Forecast and Analysis
7.4. BASECOAT
7.4.1. Overview
7.4.2. Basecoat Market Forecast and Analysis
7.5. PRIMER
7.5.1. Overview
7.5.2. Primer Market Forecast and Analysis
7.6. ACTIVATOR
7.6.1. Overview
7.6.2. Activator Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. REFINISH PAINT FOR AUTOMOTIVE MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. SOLVENT-BASED
8.3.1. Overview
8.3.2. Solvent-based Market Forecast and Analysis
8.4. WATER-BASED
8.4.1. Overview
8.4.2. Water-based Market Forecast and Analysis
8.5. POWDER
8.5.1. Overview
8.5.2. Powder Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. REFINISH PAINT FOR AUTOMOTIVE MARKET - REVENUE AND FORECASTS TO 2028 - RESIN
9.1. OVERVIEW
9.2. RESIN MARKET FORECASTS AND ANALYSIS
9.3. POLYURETHANE
9.3.1. Overview
9.3.2. Polyurethane Market Forecast and Analysis
9.4. ACRYLIC
9.4.1. Overview
9.4.2. Acrylic Market Forecast and Analysis
9.5. EPOXY
9.5.1. Overview
9.5.2. Epoxy Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. REFINISH PAINT FOR AUTOMOTIVE MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
10.1. OVERVIEW
10.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
10.3. PASSENGER CAR
10.3.1. Overview
10.3.2. Passenger Car Market Forecast and Analysis
10.4. LCV
10.4.1. Overview
10.4.2. LCV Market Forecast and Analysis
10.5. TRUCK
10.5.1. Overview
10.5.2. Truck Market Forecast and Analysis
10.6. BUS
10.6.1. Overview
10.6.2. Bus Market Forecast and Analysis
11. REFINISH PAINT FOR AUTOMOTIVE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Refinish Paint For Automotive Market Overview
11.1.2 North America Refinish Paint For Automotive Market Forecasts and Analysis
11.1.3 North America Refinish Paint For Automotive Market Forecasts and Analysis - By Product Type
11.1.4 North America Refinish Paint For Automotive Market Forecasts and Analysis - By Technology
11.1.5 North America Refinish Paint For Automotive Market Forecasts and Analysis - By Resin
11.1.6 North America Refinish Paint For Automotive Market Forecasts and Analysis - By Vehicle Type
11.1.7 North America Refinish Paint For Automotive Market Forecasts and Analysis - By Countries
11.1.7.1 United States Refinish Paint For Automotive Market
11.1.7.1.1 United States Refinish Paint For Automotive Market by Product Type
11.1.7.1.2 United States Refinish Paint For Automotive Market by Technology
11.1.7.1.3 United States Refinish Paint For Automotive Market by Resin
11.1.7.1.4 United States Refinish Paint For Automotive Market by Vehicle Type
11.1.7.2 Canada Refinish Paint For Automotive Market
11.1.7.2.1 Canada Refinish Paint For Automotive Market by Product Type
11.1.7.2.2 Canada Refinish Paint For Automotive Market by Technology
11.1.7.2.3 Canada Refinish Paint For Automotive Market by Resin
11.1.7.2.4 Canada Refinish Paint For Automotive Market by Vehicle Type
11.1.7.3 Mexico Refinish Paint For Automotive Market
11.1.7.3.1 Mexico Refinish Paint For Automotive Market by Product Type
11.1.7.3.2 Mexico Refinish Paint For Automotive Market by Technology
11.1.7.3.3 Mexico Refinish Paint For Automotive Market by Resin
11.1.7.3.4 Mexico Refinish Paint For Automotive Market by Vehicle Type
11.2. EUROPE
11.2.1 Europe Refinish Paint For Automotive Market Overview
11.2.2 Europe Refinish Paint For Automotive Market Forecasts and Analysis
11.2.3 Europe Refinish Paint For Automotive Market Forecasts and Analysis - By Product Type
11.2.4 Europe Refinish Paint For Automotive Market Forecasts and Analysis - By Technology
11.2.5 Europe Refinish Paint For Automotive Market Forecasts and Analysis - By Resin
11.2.6 Europe Refinish Paint For Automotive Market Forecasts and Analysis - By Vehicle Type
11.2.7 Europe Refinish Paint For Automotive Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Refinish Paint For Automotive Market
11.2.7.1.1 Germany Refinish Paint For Automotive Market by Product Type
11.2.7.1.2 Germany Refinish Paint For Automotive Market by Technology
11.2.7.1.3 Germany Refinish Paint For Automotive Market by Resin
11.2.7.1.4 Germany Refinish Paint For Automotive Market by Vehicle Type
11.2.7.2 France Refinish Paint For Automotive Market
11.2.7.2.1 France Refinish Paint For Automotive Market by Product Type
11.2.7.2.2 France Refinish Paint For Automotive Market by Technology
11.2.7.2.3 France Refinish Paint For Automotive Market by Resin
11.2.7.2.4 France Refinish Paint For Automotive Market by Vehicle Type
11.2.7.3 Italy Refinish Paint For Automotive Market
11.2.7.3.1 Italy Refinish Paint For Automotive Market by Product Type
11.2.7.3.2 Italy Refinish Paint For Automotive Market by Technology
11.2.7.3.3 Italy Refinish Paint For Automotive Market by Resin
11.2.7.3.4 Italy Refinish Paint For Automotive Market by Vehicle Type
11.2.7.4 United Kingdom Refinish Paint For Automotive Market
11.2.7.4.1 United Kingdom Refinish Paint For Automotive Market by Product Type
11.2.7.4.2 United Kingdom Refinish Paint For Automotive Market by Technology
11.2.7.4.3 United Kingdom Refinish Paint For Automotive Market by Resin
11.2.7.4.4 United Kingdom Refinish Paint For Automotive Market by Vehicle Type
11.2.7.5 Russia Refinish Paint For Automotive Market
11.2.7.5.1 Russia Refinish Paint For Automotive Market by Product Type
11.2.7.5.2 Russia Refinish Paint For Automotive Market by Technology
11.2.7.5.3 Russia Refinish Paint For Automotive Market by Resin
11.2.7.5.4 Russia Refinish Paint For Automotive Market by Vehicle Type
11.2.7.6 Rest of Europe Refinish Paint For Automotive Market
11.2.7.6.1 Rest of Europe Refinish Paint For Automotive Market by Product Type
11.2.7.6.2 Rest of Europe Refinish Paint For Automotive Market by Technology
11.2.7.6.3 Rest of Europe Refinish Paint For Automotive Market by Resin
11.2.7.6.4 Rest of Europe Refinish Paint For Automotive Market by Vehicle Type
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Refinish Paint For Automotive Market Overview
11.3.2 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis
11.3.3 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis - By Product Type
11.3.4 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis - By Resin
11.3.6 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis - By Vehicle Type
11.3.7 Asia-Pacific Refinish Paint For Automotive Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Refinish Paint For Automotive Market
11.3.7.1.1 Australia Refinish Paint For Automotive Market by Product Type
11.3.7.1.2 Australia Refinish Paint For Automotive Market by Technology
11.3.7.1.3 Australia Refinish Paint For Automotive Market by Resin
11.3.7.1.4 Australia Refinish Paint For Automotive Market by Vehicle Type
11.3.7.2 China Refinish Paint For Automotive Market
11.3.7.2.1 China Refinish Paint For Automotive Market by Product Type
11.3.7.2.2 China Refinish Paint For Automotive Market by Technology
11.3.7.2.3 China Refinish Paint For Automotive Market by Resin
11.3.7.2.4 China Refinish Paint For Automotive Market by Vehicle Type
11.3.7.3 India Refinish Paint For Automotive Market
11.3.7.3.1 India Refinish Paint For Automotive Market by Product Type
11.3.7.3.2 India Refinish Paint For Automotive Market by Technology
11.3.7.3.3 India Refinish Paint For Automotive Market by Resin
11.3.7.3.4 India Refinish Paint For Automotive Market by Vehicle Type
11.3.7.4 Japan Refinish Paint For Automotive Market
11.3.7.4.1 Japan Refinish Paint For Automotive Market by Product Type
11.3.7.4.2 Japan Refinish Paint For Automotive Market by Technology
11.3.7.4.3 Japan Refinish Paint For Automotive Market by Resin
11.3.7.4.4 Japan Refinish Paint For Automotive Market by Vehicle Type
11.3.7.5 South Korea Refinish Paint For Automotive Market
11.3.7.5.1 South Korea Refinish Paint For Automotive Market by Product Type
11.3.7.5.2 South Korea Refinish Paint For Automotive Market by Technology
11.3.7.5.3 South Korea Refinish Paint For Automotive Market by Resin
11.3.7.5.4 South Korea Refinish Paint For Automotive Market by Vehicle Type
11.3.7.6 Rest of Asia-Pacific Refinish Paint For Automotive Market
11.3.7.6.1 Rest of Asia-Pacific Refinish Paint For Automotive Market by Product Type
11.3.7.6.2 Rest of Asia-Pacific Refinish Paint For Automotive Market by Technology
11.3.7.6.3 Rest of Asia-Pacific Refinish Paint For Automotive Market by Resin
11.3.7.6.4 Rest of Asia-Pacific Refinish Paint For Automotive Market by Vehicle Type
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Refinish Paint For Automotive Market Overview
11.4.2 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis
11.4.3 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis - By Product Type
11.4.4 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis - By Resin
11.4.6 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis - By Vehicle Type
11.4.7 Middle East and Africa Refinish Paint For Automotive Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Refinish Paint For Automotive Market
11.4.7.1.1 South Africa Refinish Paint For Automotive Market by Product Type
11.4.7.1.2 South Africa Refinish Paint For Automotive Market by Technology
11.4.7.1.3 South Africa Refinish Paint For Automotive Market by Resin
11.4.7.1.4 South Africa Refinish Paint For Automotive Market by Vehicle Type
11.4.7.2 Saudi Arabia Refinish Paint For Automotive Market
11.4.7.2.1 Saudi Arabia Refinish Paint For Automotive Market by Product Type
11.4.7.2.2 Saudi Arabia Refinish Paint For Automotive Market by Technology
11.4.7.2.3 Saudi Arabia Refinish Paint For Automotive Market by Resin
11.4.7.2.4 Saudi Arabia Refinish Paint For Automotive Market by Vehicle Type
11.4.7.3 U.A.E Refinish Paint For Automotive Market
11.4.7.3.1 U.A.E Refinish Paint For Automotive Market by Product Type
11.4.7.3.2 U.A.E Refinish Paint For Automotive Market by Technology
11.4.7.3.3 U.A.E Refinish Paint For Automotive Market by Resin
11.4.7.3.4 U.A.E Refinish Paint For Automotive Market by Vehicle Type
11.4.7.4 Rest of Middle East and Africa Refinish Paint For Automotive Market
11.4.7.4.1 Rest of Middle East and Africa Refinish Paint For Automotive Market by Product Type
11.4.7.4.2 Rest of Middle East and Africa Refinish Paint For Automotive Market by Technology
11.4.7.4.3 Rest of Middle East and Africa Refinish Paint For Automotive Market by Resin
11.4.7.4.4 Rest of Middle East and Africa Refinish Paint For Automotive Market by Vehicle Type
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Refinish Paint For Automotive Market Overview
11.5.2 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis
11.5.3 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis - By Product Type
11.5.4 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis - By Resin
11.5.6 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis - By Vehicle Type
11.5.7 South and Central America Refinish Paint For Automotive Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Refinish Paint For Automotive Market
11.5.7.1.1 Brazil Refinish Paint For Automotive Market by Product Type
11.5.7.1.2 Brazil Refinish Paint For Automotive Market by Technology
11.5.7.1.3 Brazil Refinish Paint For Automotive Market by Resin
11.5.7.1.4 Brazil Refinish Paint For Automotive Market by Vehicle Type
11.5.7.2 Argentina Refinish Paint For Automotive Market
11.5.7.2.1 Argentina Refinish Paint For Automotive Market by Product Type
11.5.7.2.2 Argentina Refinish Paint For Automotive Market by Technology
11.5.7.2.3 Argentina Refinish Paint For Automotive Market by Resin
11.5.7.2.4 Argentina Refinish Paint For Automotive Market by Vehicle Type
11.5.7.3 Rest of South and Central America Refinish Paint For Automotive Market
11.5.7.3.1 Rest of South and Central America Refinish Paint For Automotive Market by Product Type
11.5.7.3.2 Rest of South and Central America Refinish Paint For Automotive Market by Technology
11.5.7.3.3 Rest of South and Central America Refinish Paint For Automotive Market by Resin
11.5.7.3.4 Rest of South and Central America Refinish Paint For Automotive Market by Vehicle Type
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. REFINISH PAINT FOR AUTOMOTIVE MARKET, KEY COMPANY PROFILES
13.1. 3M
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. AKZONOBEL N.V
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. AXALTA COATING SYSTEMS
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. BASF SE
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. DONGLAI COATING
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. KANSAI PAINT
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. KCC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. NIPPON PAINT
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. PPG INDUSTRIES
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. THE SHERWIN-WILLIAMS COMPANY
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. 3M
2. Akzonobel N.V
3. Axalta Coating Systems
4. BASF SE
5. Donglai Coating
6. Kansai Paint
7. KCC
8. Nippon Paint
9. PPG Industries
10. The Sherwin-Williams Company
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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