According to the research report titled ‘Asia Pacific Automotive Collision Repair Market Size By Product, Vehicle, Source, Auto Body Shops, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027’, available with Market Study Report, Asia Pacific automotive collision repair market is projected to cross a valuation of USD 85 billion by the end of the forecast period 2021-2027.
 

Asia Pacific automotive collusion repair market growth is largely fueled by intensifying traffic congestion and increasing risk of collisions due to upsurge in vehicles sales and private vehicle ownerships, facilitated by inflating population, rapid urbanization, and increasing per capita income levels.
 

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However, the unprecedented outbreak of the COVID-19 pandemic left a devastating impact on the market due to a sharp decline in demand and temporary closure of automobile manufacturing sites.  Moreover, nationwide lockdowns in India and China barred vehicle use and forced companies to transition to remote work. Although, the business landscape is slated to gradually improve in coming years as lockdown measures are slowly lifted.
 

Based on product type, Asia Pacific automotive collision repair industry is split into crash parts, adhesives & sealants, paints & coatings, finishing compounds, abrasives, and others. Of these, paints & coatings segment is touted to record 3.2% CAGR over the forecast period. With tight driving in cities and growing traffic, several minor scratches and scuffs are increasing in frequency. Moreover, requirement of extensive repair work, including repainting and restructuring, in event of a collision is positively affecting the remuneration of this segment.
 

In terms of source, the market is fragmented into new OEM, recycled, aftermarket, and remanufactured. Among these, new OEM segment is predicted to capture 65% of the industry share over the projected time period. This can largely be attributed to expansion of automotive dealerships and services network to tier 2, tier 3 cities and other less accessible areas.
 

Considering auto body shops, independent body shops are set to capture 80% of Asia Pacific automotive collusion repair market share by 2027, creditable to strong presence in rural areas and cost-effective repair services offerings provided by these outlets.
 

With respect to vehicle, light commercial vehicles (LCVs) segment is witnessing a robust demand and is set to register a y-o-y growth rate of 3% through 2027. High concentration of domestic manufacturers and rising global trade are simulating the segmental growth.
 

Elaborating on the competitive landscape, Valeo SE, Tenneco Inc., Takata Corp., Sika AG, Robert Bosch GmbH, PPG Industries Inc., Mitsuba Corp., Mann+Hummel, Magna International Inc., Johnson Controls International PLC, International Automotive Components (IAC) Group, Huntsman Corp., Honeywell International Inc., Henkel AG & Co KGaA, Faurecia SE, Eastman Chemical Co., DuPont de Nemours Inc., Denso Corp., Continental AG, ATP Automotive, and 3M Company are among the top players in Asia Pacific automotive collision repair market sphere.