Global Automotive OEM Coatings Market

Automotive OEM Coatings Market Size, Share, Growth Analysis, By Type of Coatings(Solvent-borne Coatings, Water-borne Coatings, Powder Coatings, and UV-Cured Coatings), By Vehicle Type(Passenger Cars, and Commercial Vehicles), By Layer Type(Primer, Basecoat, and Clearcoat), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15A2424 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 90 | Figures: 76

Automotive OEM Coatings Market Insights

Global Automotive OEM Coatings Market size was valued at USD 93.66 Billion in 2022 and is poised to grow from USD 100.87 Billion in 2023 to USD 182.6 Billion by 2031, at a CAGR of 7.7% during the forecast period (2024-2031)

The market is witnessing consistent increase pushed by increasing car manufacturing, mainly in rising economies. Automotive OEM coatings play a essential function in enhancing the aesthetics, durability, and corrosion resistance of cars. Key drivers include the expanding car enterprise, demand for advanced coatings with improved performance, and stringent environmental rules promoting green formulations. However, the marketplace faces challenges associated with risky raw material costs and the shift in the direction of water-primarily based coatings. Innovations in formulations, along with high-performance and sustainable coatings, are emerging traits in reaction to enterprise demands for sturdiness and environmental obligation. Regional variations in policies and customer options also effect the dynamics of the Automotive OEM Coatings market.

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Automotive OEM Coatings Market size was valued at USD 93.66 Billion in 2022 and is poised to grow from USD 100.87 Billion in 2023 to USD 182.6 Billion by 2031, at a CAGR of 7.7% during the forecast period (2024-2031)

The aggressive surroundings of the Automotive OEM Coatings marketplace is dynamic and is marked by using sturdy opposition among key players striving for market share and differentiation. Leading businesses cognizance of innovation to increase coatings that meet evolving automobile layout specs, environmental standards, and durability necessities. 'Wacker Chemie AG', 'Dow Chemical Company', 'Evonik Industries AG', 'Covestro AG', 'Momentive Performance Materials Inc.', 'Lanxess AG', 'Heraeus Holding GmbH', 'Johnson Matthey Plc', 'AkzoNobel (Sikkens, Lesonal)', 'BASF SE (Glasurit, Icoat)', 'PPG Industries (Nexa Autocolor, Cromax)', 'Axalta Coating Systems (DuPont Refinish, Spies Hecker)', 'The Sherwin-Williams Company (Valspar Automotive)', 'Nippon Paint Automotive Coatings (Wanda, Hi-Tech)', 'Valspar Corporation (Valspar, DeBeer Refinish)', 'SATA GmbH & Co. KG', 'Bosch GmbH', '3M Company', 'Henkel AG & Co. KGaA (Bonda, Motip)', 'Robert Bosch GmbH (RobaClear)'

The escalating demand for automobiles internationally, specially in emerging economies, fuels the need for superior coatings that decorate vehicle aesthetics, durability, and corrosion resistance. The non-stop innovation in coating technology, with a focal point on excessive-performance and sustainable formulations, contributes to the market's expansion.

Rising Focus On Sustainability: The growing awareness on sustainability, driven with the aid of stringent environmental hints and a growing commitment in the automobile place to lessen carbon footprints. Water-borne and UV-cured coatings are gaining recognition because of their inexperienced tendencies. Additionally, there may be a style in the direction of advanced coatings with more potent functionalities, alongside self-healing and scratch-resistant residences, meeting the rising consumer call for durable and coffee-maintenance car finishes.

APAC is in all likelihood to dominate the marketplace due to its reputation as a key hub for automotive manufacturing, in particular in nations including China, Japan, South Korea, and India. The area's considerable contribution to vehicle production, coupled with the presence of predominant automotive OEMs, positions APAC as a dominant marketplace for Automotive OEM Coatings.

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Global Automotive OEM Coatings Market

Report ID: SQMIG15A2424

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