Asia-Pacific Refinished Paints Market is Expected to Reach USD 3,176.83 Mn by 2025

Growing demand for automobiles, rising demand for recreational vehicle (RV), and surge in repair and maintenance activates are the key driving factors in the refinished paints market. Although, volatility in raw material prices and upgraded safety features on advanced vehicles could hamper the growth of the Asia-Pacific refinished paints market.
Asia-Pacific Refinished Paints Market is expected to reach USD 3,176.83 Million by 2025 from USD 2,152.80 Million in 2017, at a CAGR of 5.1% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Key Drivers: Asia-Pacific Refinished Paints Market 

The major factors contributing to the growth of the market includes factors such as growing demand for automobiles, rising demand for recreational vehicle (RV), and surge in repair and maintenance activates are the key driving factors in the refinished paints market.

Key Points: Asia-Pacific Refinished Paints Market 

Akzo Nobel N.V., Donglai., Novol SP. Z o.o., Noroo Paint & Coatings Co., Ltd. (subsidiary of noroo holdings co., ltd.), the Lubrizol Corporation, Nippon Paint Holdings Co., Ltd., KCC Corporation., Mipa SE, Cresta Paint Industries LTD., The Sherwin-Williams Company, Alpscoating., Guangzhou Zhenroumei Chemical Coating Limited, KAPCI Coatings, PPG Industries, Inc., BASF SE, 3M, Axalta Coating Systems, LLC, Kansai Paint CO., LTD among others.
  • Passenger Car is expected to dominate the Asia-Pacific Refinished paints market, with market share 69.5% in 2018.
  • Polyurethane Resin coating is driving the market with highest CAGR of 5.7% in 2018.

Market Segmentation: Asia-Pacific Refinished Paints Market 

  • The Asia-Pacific refinished paints market is segmented based on resin type into four notable segments as polyurethane resin, epoxy resin, acrylic resin and others. In 2017, polyurethane resin market is likely to dominate market with 50.7% market shares and is estimated to reach USD 1,675.51 million by 2025. It is growing at the highest CAGR of 5.7% in the forecast period.
  • The Asia-Pacific refinished paints market is segmented based on resin type into four notable segments as polyurethane resin, epoxy resin, acrylic resin and others. In 2018, polyurethane resin market is likely to dominate market with 51.0%market shares and is estimated to reach USD 1,675.51 million by 2025. It is growing at the highest CAGR of 5.7% in the forecast period.
  • The Asia-Pacific refinished paints market is segmented based on vehicle type into four notable segments passenger car, buses, LCV and trucks. In 2018, passenger car market is likely to dominate market with 69.5%shares and is estimated to reach USD 2,240.13 million by 2025. It is growing at a CAGR of 5.3% in the forecast period.
  • The Asia-Pacific refinished paints market is segmented based on technology into three notable segments; solvent borne coating, waterborne coating and powder coating. In 2018, solvent borne coating market is likely to dominate market with 48.2%shares and is estimated to reach USD 1,464.91 million by 2025. It is growing at a CAGR of 4.5% in the forecast period.
  • The Asia-Pacific refinished paints market is segmented based on layer into four notable segments; primer, basecoat, clear coat and sealer. In 2018, primer market is likely to dominate market with 38.2% shares and is estimated to reach USD 1,153.45 million by 2025. It is growing at a CAGR of 4.4% in the forecast period.
  • The Asia-Pacific refinished paints market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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