LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global automotive refinish coatings market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The global automotive refinish coatings market will witness a growth during the forecast period, especially in the BRICS nations. APAC will be driving the growth of the market, followed by the Americas, and EMEA. In APAC, there is an increase in the purchase of new vehicles, owing to the improving economy, and the better connectivity in terms of roads.
Competitive vendor landscape
The prominent players in the market are keenly focusing on M&A to shield themselves from the threat of rivalry. Although small and medium scale vendors are coming up with innovative capabilities, the prominent players will still have a strong foothold. The competitive environment in the market will further intensify over the next five years with the increase in product extensions in terms of innovation in technology.
“There is intense competition to provide the exact match of the color and a wider range of coloring options. The level and expertise of customization also provide a competitive edge to the vendors. Aftersales services are also being used to garner loyal customers,” says Kshama Upadhyay, a lead paints, coatings, and pigments research analyst from Technavio.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Top five automotive refinish coatings market vendors
Axalta Coating Systems
The various brands of refinish coatings offered by Axalta Coating Systems are Standox, Spies Hecker, and Cromax. The other brands in select countries are Challenger, Duxone, Nason, Imlar, and CorMax. They have a refinish training academy in Welwyn Garden City, Hertfordshire knows as Axalta refinish training academy.
Akzo Nobel
Akzo Nobel launched a new water-based primer, which enables a mono-bake satellite coil line to double its capacity by achieving a two-coat paint system in a single pass. It has completed the expansion of its coatings research facility in Houston, which was worth USD 3.5 million.
BASF
BASF produces and sells automotive refinish coatings for collision repair, the automotive specialty market, and commercial fleet. The brands offered by the company include BASF Glasurit, R-M, and LIMCO. It caters to various end users such as automotive body shops, customizers, restoration facilities, and commercial transportation.
PPG Industries
PPG Industries provides coating solutions to customers in diverse end-user markets. This sector caters to the aerospace, architectural coatings, marine coatings, industrial coatings, and automotive coatings industries. The company offers collision and commercial transport refinish products.
The Sherwin-Williams Company
The Sherwin-Williams Company is a provider of coating solutions and advanced paints. It specializes in the development, manufacture, distribution, and sale of paints, coatings, and related products to professional, industrial, retail customers. The company provides different products for collision repair, custom finishes, OEM interior, and fleet refinishing under its automotive finishes product category.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Browse Related Reports:
- Global Furniture Wood Coatings Market 2017-2021
- Global Acrylic Resin Market 2017-2021
- Global Anti-Corrosion Coatings Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
