International. The global automotive refinishing coatings market size reached $10 billion in 2022, according to market research firm IMARC Group.
Its analysts predict that the market will reach $13.2 billion by 2028, showing a growth rate (CAGR) of 4.4% during 2023-2028.
The growth can be attributed to a steady increase in vehicle ownership and use around the world, the development of eco-friendly and high-performance coatings, and the implementation of strict environmental regulations and increased awareness of sustainability.
This increased demand for automotive refinishing services has challenged manufacturers to deliver sustainable, cost-effective, and accurate systems. Not only must these products comply with environmental regulations, but they must also help increase productivity and deliver top-notch color-matching results.
Among the products of the leading automotive paint manufacturers is the launch of Axalta's Axalta Irus Mix, a fast, efficient, fully automated and completely hands-free mixing machine for the automotive refinish industry.
In addition, Glasurit, BASF's premium refinish paint brand, recently introduced its most advanced water-based base coat system: the Line 100. Focusing on a new standard of sustainability, process efficiency and the highest product quality, the new line meets the highest requirements of modern body shops.
PPG announced the introduction of PPG LINQ Color software and PPG Magicbox shop assistant for smarter wireless mixing in auto repair shops. Advanced tools are the latest components of PPG LINQ's end-to-end digital solution for the global refinish industry that deliver improved productivity and sustainability for body shops.