Apr 19, 2023   SOURCE: BusinessWire

Global Automotive OEM Coatings Market Report 2023: Innovation is Fuelling Growth - ResearchAndMarkets.com

The "Automotive OEM Coatings Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.

The global automotive OEM coatings market is projected to expand at a CAGR of 6.1% between 2023 and 2031.

Companies Mentioned

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

Automotive coatings are employed to coat automobile surfaces and demonstrate innovative technologies which are proficient in manufacturing sturdy surfaces, maximizing overall vehicle efficiency while meeting environmental regulations. Automotive OEM coatings improve the overall appearance and durability of a vehicle and help in protecting it from extreme temperatures, UV radiation, and foreign particles.

Innovation is fuelling the growth of the global automotive OEM coatings industry since new variants such as waterborne and e-based products are penetrating both consumer automotive as well as automotive OEMs. Ultraviolet-based coatings are projected to witness high demand.

Although, currently the applications of UV coatings are in their infancy stage, a steady shift toward UV cure coatings is estimated to happen over the forecast period. Moreover, several benefits such as lower energy costs and ease of application are some major aspects fostering the adoption of automotive OEM coatings across the value chain. Additionally, the increase in per capita disposable incomes of consumers especially in developing economies such as China, India, Thailand, etc. has propelled the overall demand for passenger cars.

Thus, automotive manufacturers are setting up their manufacturing facilities in the aforementioned countries to cater to this burgeoning demand. These manufacturers are progressively shifting towards high-performance and low-cost OEM coatings manufactured by regional vendors.

Historical & Forecast Period

This study report represents an analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.

Market Segmentation

Type

  • Solvent Borne
  • Water Borne
  • Powdered
  • Others

Layer

  • Primer
  • Basecoat
  • Electrocoat
  • Clearcoat

Type of Vehicle

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)
  • Others (Bicycles, Motorbikes, etc.)

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of the Automotive OEM Coatings market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Automotive OEM Coatings market?
  • Which is the largest regional market for the Automotive OEM Coatings market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving the Automotive OEM Coatings market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive OEM Coatings market worldwide?

For more information about this report visit https://www.researchandmarkets.com/r/f9z7px

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