Global Automotive OEM Coatings Market was valued US$ 8.2 Bn in 2017 and is anticipated to reach approximately US$ 13.5 Bn by 2026 at a CAGR of about 6.5 % during a forecast period.
Global Automotive OEM Coatings Market
Increasing vehicle production in countries like China, Japan, U.S., South Korea, Mexico, Indonesia, Germany and India along with aging of vehicles are the major factor driving the market growth. Increasing disposable income of consumers in developing economies has fuelled the demand for passenger cars thereby driving automotive OEM coatings market. Automotive companies are establishing manufacturing facilities in emerging countries to meet the demand, further stimulating the growth of automotive OEM coatings market.
Prices of automotive OEM coatings are expected to rise at a steady pace which is predicted to hamper market. Restrictions on solvent-borne automotive coatings may affect the overall market growth in the developed and the developing countries, but investments in R&D in new production alternatives are expected to provide opportunities for growth in the future.
Solvent-borne coatings segment is dominating the automotive OEM coatings market but strict regulation against VOCs emission may hinder its growth in a forecast. Water borne and powder coating segment will grow at high CAGR owing to its eco-friendly and VOC free nature. Excellent features of powder coat like zero VOCs emission and relatively thicker layer as compared to traditional automotive coatings will favor the growth of powder coat segment. Environmentally-friendly coatings are at the forefront of coatings technology.
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Passenger cars segment has an opportunity of high potential in the automotive OEM coatings market. Increase in demand for passenger cars with rise in public transportation spending. Increase in the shift of consumers towards efficient, comfortable and easy transportation has boosted passenger cars segment in the overall demand for automotive OEM coatings in the.
Asia Pacific is estimated to grow at CAGR of 5.6 %. Increasing vehicle production in China, India, Indonesia, Thailand, Japan and Malaysia and increasing government spending on road infrastructure is expected to boost market growth. Europe accounted for second largest market holding more than 30% share in 2017. Additionally, rise in investments by key manufacturers in the region is another key aspect that fuels the growth in the market.
Axalta Coating Systems, BASF SE, PPG Industries, Nippon Paint, Kansai Paint, AkzoNobel, Sherwin-Williams Company, KCC Paint, Bayer AG, and Arkema SA, Beckers Group, Cabot Corporation, Berger Paints, Eastman Chemical Company, Valspar Corporation, Clariant AG, Deft, Inc., Jotun A/S, Royal DSM, Lord Corporation, and Solvay S.A. are leading players operating in the automotive OEM coatings.
Scope of the Global Automotive OEM Coatings Market
Global Automotive OEM Coatings Market by Type:
• Solvent-Borne Coatings
• Waterborne Coatings
• Powder Coatings
Global Automotive OEM Coatings Market by Vehicle Type:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Global Automotive OEM Coatings Market by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player in Global Automotive OEM Coatings Market:
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• Axalta Coating Systems
• BASF SE
• PPG Industries
• Nippon Paint
• Kansai Paint
• Sherwin-Williams Company
• KCC Paint
• Bayer AG
• Arkema SA.
• Beckers Group
• Cabot Corporation
• Berger Paints
• Eastman Chemical Company
• Valspar Corporation
• Clariant AG
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• Deft, Inc.
• Jotun A/S
• Royal DSM
• Lord Corporation
• Solvay S.A.