PUBLISHER: DataM Intelligence | PRODUCT CODE: 1290417
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1290417
Global Automotive OEM Coatings Market - 2023-2030
Market Overview
The Global Automotive OEM Coatings Market size reached US$ 16.9 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 25.5 billion by 2030. The market is growing at a CAGR of 5.6% during the forecast period 2023-2030.
The Global Automotive OEM Coating Market is a vital component of the automotive industry, providing both protection and aesthetic enhancements to vehicles throughout the manufacturing process. With the continuous growth in global automobile demand, the OEM coating market is witnessing substantial expansion in terms of market share.
The respective growth is primarily driven by evolving industry trends, lucrative market opportunities, and supportive government initiatives. While solvent-borne coatings currently dominate the market, accounting for over 30% of the market share, North America stands out as the leading region, holding more than 25% of the market share.
In response to consumer preferences, automotive manufacturers increasingly offer customized colors and finishes. The market above trend has spurred the need for advanced coating solutions that provide a diverse range of color options, special effects, and textured finishes to meet the varying demands of customers.
Market Dynamics
The Global Shift Toward Electric Vehicles (EVs)
The global shift toward electric vehicles (EVs) is expected to become a major automotive OEM coating market driver. While EVs offer a more sustainable and environmentally friendly alternative to traditional internal combustion engine vehicles, they have different coating requirements. The lightweight materials used in EVs, such as aluminum and composites, demand specialized coatings for effective protection against corrosion, UV radiation, and other environmental factors.
Governments around the world have been supporting the adoption of EVs through incentives, subsidies, and policy frameworks. The respective support drives the demand for coatings suitable for EV applications. In response to this trend, coating manufacturers have been developing coatings specifically designed for EVs, focusing on properties such as thermal management, electrical conductivity, and compatibility with lightweight materials.
Growing Demand For Environmental Sustainability
The stringent government regulations on VOC emissions and the shift towards EVs present significant restraints for the global automotive OEM coating market. For instance, in U.S., the Environmental Protection Agency (EPA) regulates VOC emissions through the National Emission Standards for Hazardous Air Pollutants (NESHAP) program.
The aforementioned regulations create challenges for Automotive OEM Coating manufacturers, as they must develop and adopt low-VOC or zero-VOC coatings that meet the stringent requirements. By investing in research and development, collaborating with governmental bodies, and keeping abreast of evolving regulations, Automotive OEM Coating manufacturers can navigate these restraints and seize opportunities for growth in the dynamic automotive industry.
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted the global automotive OEM coating market. Government statistics revealed a decline in car sales and disruptions in the supply chain, impacting demand for coatings. Despite these challenges, the industry responded with innovative product launches, including eco-friendly and antimicrobial coatings.
Government support and the gradual recovery of the automotive sector provide a foundation for future growth. As the industry progresses, collaboration, adaptability, and customer-centric approaches will be critical for the automotive OEM coating market to thrive in the post-pandemic era.
However, uncertainties remain, and the market recovery will depend on various factors, including the progress of vaccination campaigns, global economic stability, and evolving consumer preferences.
Russia-Ukraine War Impact Analysis
The Russia-Ukraine War has shifted market dynamics, as automotive OEM coating manufacturers seek alternative sourcing strategies. Some manufacturers have started exploring new suppliers and diversifying their supply chains to mitigate the risks associated with the conflict. The respective shift has resulted in changes in market share, competitive landscapes, and partnerships within the industry.
Further, Governments have implemented policies to support domestic automotive industries and mitigate the impact of the war. For instance, the Russian government has introduced measures to encourage the development of local coating manufacturers, reducing dependence on imports and boosting domestic production capabilities. Similarly, Ukraine has focused on enhancing its coating manufacturing capabilities and exploring alternative international suppliers.
Artificial Intelligence Impact Analysis
Integrating AI technology in the global Automotive OEM Coating market has brought significant benefits, improving quality control, optimizing processes, and enhancing productivity. AI-driven predictive maintenance systems help automotive OEM coating companies optimize their production line efficiency and reduce downtime.
AI algorithms can predict equipment failures by analyzing real-time data from sensors and equipment, enabling proactive maintenance activities. Governmental support for AI initiatives in the automotive industry has further accelerated its adoption. As AI continues to evolve, the automotive OEM coating market will witness further advancements, driving efficiency, sustainability, and innovation across the sector.
Segment Analysis
The Global Automotive OEM Coatings Market is segmented based on type, product, material, product form and region.
Governmental Regulations, Technological Advancements and A Shift Toward Sustainable Practices
Automotive OEM Coating manufacturers have launched water-based coating solutions as a more environmentally friendly alternative to traditional solvent-based coatings. Water-based coatings have lower VOC content, reduced environmental impact, and improved worker safety.
The water-borne segment in the Global Automotive OEM Coating Market has experienced substantial growth, driven by governmental regulations, technological advancements, and a shift toward sustainable practices. With governmental support and environmental regulations promoting the adoption of water-based coatings, notable product launches have showcased the industry's commitment to sustainability and innovation.
As the market continues to expand, manufacturers have the opportunity to capitalize on increasing awareness and demand, technological advancements, and market penetration in emerging economies.
Geographical Analysis
Strong Automotive Industry, Governmental Support, and Continuous Product Innovation
The North American region plays a significant role in the global automotive OEM coating market, driven by a strong automotive industry, governmental support, and continuous product innovation. According to Statistics Canada, the automotive industry accounted for approximately 11% of the country's total manufacturing output in recent years, highlighting its importance in the economy.
Governments in North America have implemented initiatives to support the automotive industry and foster technological advancements in the automotive OEM coating market. The government has actively invested in research and development (R&D) and innovation in Canada to strengthen the automotive industry.
Programs such as the Automotive Supplier Innovation Program (ASIP) fund automotive suppliers to develop innovative products and technologies, including advanced coatings that enhance vehicle performance, durability, and sustainability.
Competitive Landscape
The major global players in the market include: Axalta Coating Systems, NIPSEA GROUP, Akzo Nobel N.V., PPG Industries, Inc, The Sherwin-Williams Company, The Valspar Corporation, Kansai Paint Co., Ltd, Covestro AG, DuPont de Nemours, Inc. and BASF SE.
Why Purchase the Report?
- To visualize the Global Automotive OEM Coatings Market segmentation based on type, layer, vehicle and region and understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous automotive OEM coatings market-level data points with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Automotive OEM Coating Market Report Would Provide Approximately 61 Tables, 60 Figures And 174 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Layer
- 3.3. Snippet by Vehicle
- 3.4. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The global shift toward electric vehicles (EVs)
- 4.1.2. Restraints
- 4.1.2.1. Growing Demand for Environmental Sustainability
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 4.1.1. Drivers
5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. During COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Solvent-borne*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Water-borne
- 7.4. Powdered
- 7.5. UV-cured
8. By Layer
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 8.1.2. Market Attractiveness Index, By Layer
- 8.2. Primer*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Basecoat
- 8.4. E-coat
- 8.5. Clearcoat
9. By Vehicle
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 9.1.2. Market Attractiveness Index, By Vehicle
- 9.2. Passenger Cars*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Light Commercial Vehicles
- 9.4. Heavy Commercial Vehicles
- 9.5. Others
10. By Region
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2. Market Attractiveness Index, By Region
- 10.2. North America
- 10.2.1. Introduction
- 10.2.2. Key Region-Specific Dynamics
- 10.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 10.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 10.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.2.6.1. The U.S.
- 10.2.6.2. Canada
- 10.2.6.3. Mexico
- 10.3. Europe
- 10.3.1. Introduction
- 10.3.2. Key Region-Specific Dynamics
- 10.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 10.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 10.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.3.6.1. Germany
- 10.3.6.2. The UK
- 10.3.6.3. France
- 10.3.6.4. Italy
- 10.3.6.5. Russia
- 10.3.6.6. Rest of Europe
- 10.4. South America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.4.6.1. Brazil
- 10.4.6.2. Argentina
- 10.4.6.3. Rest of South America
- 10.5. Asia-Pacific
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.5.6.1. China
- 10.5.6.2. India
- 10.5.6.3. Japan
- 10.5.6.4. Australia
- 10.5.6.5. Rest of Asia-Pacific
- 10.6. Middle East and Africa
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Layer
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
11. Competitive Landscape
- 11.1. Competitive Scenario
- 11.2. Market Positioning/Share Analysis
- 11.3. Mergers and Acquisitions Analysis
12. Company Profiles
- 12.1. BASF SE*
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Financial Overview
- 12.1.4. Key Developments
- 12.2. Axalta Coating Systems
- 12.3. NIPSEA GROUP
- 12.4. Akzo Nobel N.V.
- 12.5. PPG Industries, Inc
- 12.6. The Sherwin-Williams Company
- 12.7. The Valspar Corporation
- 12.8. Kansai Paint Co., Ltd
- 12.9. Covestro AG
- 12.10. DuPont de Nemours, Inc.
LIST NOT EXHAUSTIVE
13. Appendix
- 13.1. About Us and Services
- 13.2. Contact Us
