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Automotive OEM Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 146 Pages
  • September 2023
  • Region: Global
  • IMARC Group
  • ID: 5633115
UP TO OFF until Dec 31st 2023

Quick Summary:

In an ever-evolving world, the automotive OEM coatings market has continually responded to the needs of the automotive industry's advancements, emphasizing durability, aesthetics and greater protection for vehicles. This powerful interaction of technology and demand is transforming the sector. Automotive OEM coatings, available in diverse resin forms such as epoxy, acrylic, and polyurethane, crucially aid in extending vehicle longevity, enhancing appearance, and safeguarding against intense UV radiation, chemical stains, and adverse weather conditions. Trending extensively in passenger, light commercial, and heavy commercial vehicle segments, these coatings become an integral part of the vehicle manufacturing process.

The automotive OEM coatings market growth is driven significantly by the surge in the automotive sector and the increased demand for commercial utility vehicles and energy-efficient mobility. The prevalent use of solvent- and water-borne coatings for detailing interior vehicle elements - meter clusters, instrument panels, speaker grills, steering wheels, door trim, and armrest bezels - is paving the way for innovative developments. A crucial factor is the fostering of UV-cured technologies and eco-friendly coatings, reducing volatile organic compounds (VOC). Moreover, the market is fueled by the advancing automotive sector and rising requirement for thinner film thickness, lower bake temperature, and heavy-metal free formulations in coating systems. Equally important is the shifting preference of manufacturers towards plastic coatings due to their durability, strength, and resistance to chemicals and corrosion. With key players engaging in strategic collaborations and significant investment in research and development, there is a positive outlook for the automotive OEM coatings market.

The global automotive OEM coatings market size reached US$ 7.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Automotive original equipment manufacturer (OEM) coatings refer to water-based, or solvent-based paints, that are applied for coating the surface of automobiles. They aid in increasing the durability of vehicles, enhancing their aesthetics, and protecting against extreme temperature, intense ultraviolet (UV) radiations, chemical stains, and acid rain. On account of these properties, automotive OEM coatings are extensively employed on passenger, light commercial and heavy commercial vehicles. At present, these coatings are commercially available in varying types of resin forms, such as epoxy, acrylic and polyurethane.

Automotive OEM Coatings Market Trends:

The significant growth in the automotive sector, along with the increasing demand for commercial utility vehicles and energy-efficient mobility, due to the rising environmental concerns, is one of the prime factors driving the automotive OEM coatings market toward growth. In line with this, the extensive utilization of solvent- and water-borne coatings for painting various interior elements of the vehicle, such as meter clusters, instrument panels, speaker grills, steering wheels, door trim and armrest bezels is acting as another growth-inducing factor. The integration of these components with ultraviolet (UV)-curved technologies and eco-friendly coatings is aiding in eliminating the occurrence of volatile organic compounds (VOC), which is further propelling the market growth. Moreover, advancements in the automotive sector, along with the rising requirement for thinner film thickness, lower bake temperature and heavy-metal free formulations in the coating systems and processes are also catalyzing the market growth. Moreover, the shifting inclination of manufacturers from metals to plastic coatings on account of its durability, strength and chemical and corrosion resistance properties are contributing to the market growth. Other factors, such as strategic collaborations amongst key players and continuous investments in research and development (R&D) activities for launching novel product variants, are creating a positive outlook for the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global automotive OEM coatings market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on type, layer, vehicle type and application.

Breakup by Type:

  • Solvent Borne
  • Waterborne
  • Powdered
  • Others

Breakup by Layer:

  • Primer
  • Basecoat
  • Electrocoat
  • Clearcoat

Breakup by Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Others

Breakup by Application:

  • Interior
  • Exterior

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Akzo Nobel N.V., Arkema S.A., Axalta Coating Systems Ltd., BASF SE, Berger Paints India Limited, Covestro AG, Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd., PPG Industries Inc., The Lubrizol Corporation and The Sherwin-Williams Company.

Key Questions Answered in This Report:

  • How has the global automotive OEM coatings market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global automotive OEM coatings market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the layer?
  • What is the breakup of the market based on the vehicle type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global automotive OEM coatings market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Automotive OEM Coatings Market

What is the estimated value of the Global Automotive OEM Coatings Market?

The Global Automotive OEM Coatings Market was estimated to be valued at $7.4 Billion in 2022.

What is the growth rate of the Global Automotive OEM Coatings Market?

The growth rate of the Global Automotive OEM Coatings Market is 4.1%, with an estimated value of $9.4 Billion by 2028.

What is the forecasted size of the Global Automotive OEM Coatings Market?

The Global Automotive OEM Coatings Market is estimated to be worth $9.4 Billion by 2028.

Who are the key companies in the Global Automotive OEM Coatings Market?

Key companies in the Global Automotive OEM Coatings Market include Akzo Nobel N.V., Arkema S.A., Axalta Coating Systems Ltd., BASF SE, Berger Paints India Limited, Covestro AG, Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Co. Ltd. and PPG Industries Inc..

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Automotive OEM Coatings Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Solvent Borne
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Waterborne
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Powdered
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Layer
7.1 Primer
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Basecoat
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Electrocoat
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Clearcoat
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Vehicle Type
8.1 Passenger Cars
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Light Commercial Vehicles
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Heavy Commercial Vehicles
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Application
9.1 Interior
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Exterior
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Akzo Nobel N.V.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Arkema S.A.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Axalta Coating Systems Ltd.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 BASF SE
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Berger Paints India Limited
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Covestro AG
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Kansai Paint Co. Ltd.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 KCC Corporation
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.9 Nippon Paint Holdings Co. Ltd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 PPG Industries Inc.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 The Lubrizol Corporation
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 SWOT Analysis
15.3.12 The Sherwin-Williams Company
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
15.3.12.3 Financials
15.3.12.4 SWOT Analysis

Companies Mentioned

  • Akzo Nobel N.V.
  • Arkema S.A.
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Berger Paints India Limited
  • Covestro AG
  • Kansai Paint Co. Ltd.
  • KCC Corporation
  • Nippon Paint Holdings Co. Ltd.
  • PPG Industries Inc.
  • The Lubrizol Corporation
  • The Sherwin-Williams Company.

Methodology

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