A new analysis of the automotive refinish coatings industry shows that the global market is expected to reach $11.34 billion by 2026.

The report, by Reports and Data, said that this increase can be attributed to the increase in coating innovation, such as high-tech eco-friendly coating materials having low solvent content.

Key findings from the report suggest that:

• The market is segmented on the basis of resin type into epoxy, alkyd, polyurethane and others.
• The polyurethane segment dominated the market in 2018, and is forecasted to grow at a CAGR of 2.2% during the forecast period since it is less expensive, environment-friendly and also versatile.
• The market is segmented on the basis of product into primer, basecoat, clearcoat, activator, filler and putty
• Clearcoats hold the largest share of the market in 2018. They’re expected to have a growth rate of 3.4% during the forecast period.

• The market is segmented on the basis of technology into solvent-borne coatings, waterborne coatings and UV-cured coatings.
• Solvent-borne coatings hold the largest share in the market in 2018 with a CAGR of 2.9% during the forecast period due to their cost effectiveness as compared to other technologies.
• The market is segmented on the basis of substrate into glass, metal, plastic and others.
• Metal substrates is the segment with the largest market share in 2018, and is expected to lead the segment throughout the forecast period with an annual growth rate of 3.8% since metal surfaces are prone to suffer from corrosion.

To view more of the report and request a free copy, click here.