Axalta

The global automotive collision repair market size is anticipated to reach USD 219,62 billion by 2026 according to a new report. 

In 2018, spare parts segment dominated the global market, in terms of revenue. In 2018, Europe accounted for the majority share in the global market. The market requires advanced protective materials which also meets the stylised highlights of the automobile. The quickly propelling paints and coatings innovation supports the market development. The organisations are under critical pressure to stiffen safety standards and guidelines and damages to vehicles which further aid market growth. The copious growth of hybrid and electric vehicles will offer market opportunities to growth during the forecast period. Digitalisation of automotive repair and collision services also supports market growth.