Market Research Future (MRFR) has published a cooked research report on the “Global Automotive OEM Coatings Market” that contains information from 2018 to 2032. The Automotive OEM Coatings market is estimated to register a CAGR of 6.70% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Automotive OEM Coatings market— BASF SE (Germany), PPG Industries Inc. (US), Nippon Paints Holdings Co. Ltd (Japan), Akzo Nobel N.V. (The Netherlands), Axalta Coating Systems Ltd (US), Berger Paints India Ltd (India), Kansai Paint Co. Ltd (Japan), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Covestro AG (Germany), Esdee Paints Ltd (India), and Lubrizol Corporation (US).
The global Automotive OEM Coatings Market is accounted to register a CAGR of 6.70% during the forecast period and is estimated to reach USD 15.95 Billion by 2032.
The Automotive OEM (Original Equipment Manufacturer) Coatings Market refers to the industry that produces specialized paints and coatings used by car manufacturers to protect and enhance the appearance of vehicles during their production process. These coatings provide durability, corrosion resistance, and aesthetic appeal to the automotive surfaces.
The global Automotive OEM Coatings market has been segmented based on Product Type, Resin, Application and Technology.
On the basis of Product Type, the market is segmented into clearcoat, basecoat, primer, e-coat and others. Due to the features and advantages that they offer, which stimulate demand, the primer segment has dominated the market. Primers are often applied to materials as an undercoat prior to the application of a base coat or topcoat.
Based on Resin, the global Automotive OEM Coatings market has been segmented into polyurethane, acrylic, epoxy and alkyd. Due to the characteristics and benefits epoxy resin has over other types of resin, which are increasing demand for it, the epoxy category earned the most revenue.
Based on Application, the global Automotive OEM Coatings market has been segmented into passenger cars, commercial vehicles and two-wheelers. The category of passenger cars produced the highest revenue. greater demand for passenger cars and general utility vehicles, greater spending on public transit, and a rise in consumer choice have all contributed to an increase in the total demand for automotive OEM coatings in the passenger cars segment.
Based on Technology, the global Automotive OEM Coatings market has been segmented into solvent-borne, waterborne, UV cured, high solid coatings and powder coatings. Due to a variety of advantages, they have over other coating technology types, the waterborne category produced the greatest revenue. Waterborne coatings, which are surface coatings, are made up of 80% water and a small amount of other solvents, such as polyvinyl ether and glycol.
The global Automotive OEM Coatings market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Automotive OEM Coatings market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive OEM Coatings market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive OEM Coatings market comprises of Middle East, Africa, and Latin America.
The Asia-Pacific Automotive OEM Coatings Market dominated this market in 2022 because the economy as a whole is expanding more swiftly, this market.
Additionally, the increase in expenditures made by big local manufacturers is a significant component that fuels the market's growth. Significant financial investments have been made by major companies in this region in R&D projects to develop cutting-edge products that would satisfy market expectations.
Additionally, the second-largest market share for Automotive OEM Coatings is held by Europe. Germany's growing vehicle industry is contributing to the growth of the region's product market. The region will undoubtedly see extraordinary growth in the following years. In the near future, regional market expansion is projected to be fueled by developments in vehicle coatings and the fact that the automotive industry in Europe is the greatest investor in R&D.
Because of its expanding population, North America's automotive OEM coatings market is anticipated to expand at the fastest CAGR between 2023 and 2032. Furthermore, it is projected that the market would continue to be supported in the years to come by the expansion of the region's building sector. The region is also anticipated to experience significant growth as a result of increased household income and car demand. Additionally, the US automobile OEM coatings industry held the biggest market share, and the fastest-growing market in the area was Canada's.
Key Findings of the Study
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