Automotive OEM Coatings Market by Type (Solvent-Borne, Waterborne, Powdered, and Others), by Layer (Primer, Basecoat, Electrocoat, and Clearcoat), by Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others (Motorbikes) - Global Opportunity Analysis and Industry Forecast, 2022–2030

Market Definition

The global Automotive OEM Coatings Market size was valued at USD 7.23 billion in 2021, with a volumetric turn-over of 1706.9 kilotons; is predicted to garner USD 13.12 billion by 2030 with an expected volumetric turn-over of 2,864.1 kilotons, demonstrating a respective CAGR of 7.7%  and 6.7% from 2022-2030.

Automotive OEM coatings are paints applied to coat the surface of automobiles for both protection of the vehicle surface as well as for enhancing its aesthetic appearance. These are majorly solvent-borne, waterborne, powdered, and of such other types. These coatings along with increasing the durability of vehicles, offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, acid rain and other foreign particles. Due to stringent regulatory standards, the automotive OEM coatings are formulated as per the environmental standards abiding by environmental norms.

Market Dynamics and Trends

The automotive OEM coatings market is gaining traction due to growing demand for commercial utility vehicles, higher inclination towards efficient transport, increased trend of possessing personal automotive transports especially in the premium vehicles segment, as well as growing demands for passenger cars.

Besides, market trends such as, higher preferences towards light weight vehicles offering lower fuel-consumption and higher efficiency, plus growing demand for electric and hybrid vehicles offering lower carbon emissions, are expected to create new opportunities in the global automotive OEM coatings market throughout the forecast period.

However, high-cost raw materials, strict environmental emission standards, and concerns related to the use of solvent-borne automotive coatings that impose the risk of environmental hazard, are the factors responsible to impede the growth of the global automotive OEM coatings market during the forecast period.

Moreover, investments in R&D activities for new production alternatives, strategic collaborations, and new product launches by market players, are to create lucrative opportunities in the global automotive OEM coatings market in the future.

Market Segmentations and Scope of the Study

The global automotive OEM coatings market share analysis is based on type, layer, vehicle type and geography.

Based on type, the market is segmented into Solvent-Borne, Waterborne, Powdered, and Others. Based on layer, the market is fragmented into Primer, Basecoat, Electrocoat, and Clearcoat. Based on vehicle type, the market is divided into Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), and Others (Motorbikes). Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America region is expected to account for the major market share in the global automotive OEM coatings market, over the forecast period owing to the increased adoption of automotive OEM coatings. Furthermore, increase in technological advancements, well-established automotive infrastructures as well as higher adoption of electric vehicles are to fuel-up the market growth in this region.

Asia-Pacific region dominated the global automotive OEM coatings market, and is expected to maintain its dominance throughout the forecast period, growing with the highest CAGR both by value and volume. This is attributable to increase in innovation and strategic collaboration among the market players as well as growing demand for commercial and light weight vehicles in this region.

Competitive Landscape

Some of the major market players driving the automotive OEM coatings industry are BASF SE, Axalta Coating Systems, PPG Industries, Kansai Paint, Nippon Paint, AkzoNobel, KCC Paint, Sherwin-Williams Company, Arkema SA and Bayer AG among others.

The prominent players have adopted product launches and collaborations as their key strategies to gain substantial share in the global automotive OEM coatings market.

For instance, in November 2019, AkzoNobel’s new color collections helped turn the ordinary into the extraordinary. The color had taken on a new lease of life for customers of AkzoNobel’s Powder Coatings, as well as Automotive and Specialty Coatings businesses following the launch of two hotly anticipated on-trend color collections.

In February 2020, one of the major market players of the global automotive OEM coatings market, Nippon Paint used its first-ever velocity system to paint the car in a single day, at one of its unit based in India. The car painted using Spray guns and Nax-Pro preparation; was polished and finalized using various finishing products. Nippon Paint augmented finishing solutions offer a complete range of paint, preparation, finishing and maintenance products.

Key Benefits

• The automotive OEM coatings market report provides a quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the market trend including current and future trends for depicting the prevalent investment pockets in the market.

• The report provides detailed information related to key drivers, restraints, opportunities and their impact on the global market.

• The report incorporates a competitive analysis of the market players along with their market share in the global market.

• The study elaborates SWOT analysis and Porters Five Forces model for the market.

•  Value chain analysis in the automotive OEM coatings market study provides a clear picture of the stakeholders’ roles.

Automotive OEM Coatings Market Key Segments

By Type

• Solvent-Borne

• Waterborne

• Powdered

• Others

By Layer

• Primer

• Basecoat

• Electrocoat

• Clearcoat

By Vehicle Type

• Passenger Cars

• Light Commercial Vehicles (LCV)

• Heavy Commercial Vehicles (HCV)

• Others (Motorbikes)

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • Brazil

  • KSA

  • South Africa

  • Remaining Countries

Report Scope and Segmentation