Automotive OEM Coating Market – By Type (Solvent-Borne, Waterborne, Powdered), By Layer (Primer, Basecoat, Electrocoat, and Clearcoat), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Automotive Coatings are provided to the vehicles by OEMs and their ability to provide a coating that will satisfy the needs of the customer is the key factor hence, different technologies are used by the manufacturer to provide a variety in the types of the coating which includes a solvent-borne, waterborne, and powdered coating. The solvent-borne coating consists of an organic compound in it they are mostly used in a humid environment. Whereas, water-borne coating have water as a solvent in it. The powdered coating consists of powdered polymer which can be applied electrostatically and then cured. All these coatings are fast curing, tough and flexible, scratch resistance up to a certain extent, oil & chemical resistant, and UV resistant. In addition to this, they also promote the health and safety of the employee, ease to apply, and provide better aesthetic. These coatings are applied to almost all types of automotive such as passenger vehicles, light-duty vehicles, and high duty vehicles. The Automotive Coatings accounted 8228.5 USD million in 2020, and is anticipated to reach 11,922 billion by 2030, registering a CAGR of 8.47% during the forecast period.

Market Segmentation:

On the basis of type, the market is segmented into solvent-borne, waterborne, and powdered. On the basis of layer, the market is segmented into a primer, basecoat, electrocoat, and clearcoat. On the basis of vehicle, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The growing demand for the automotive sector and the presence of aging vehicles are some of the major factors driving the market growth. In addition to this, stringent environment regulation norms for the use of an eco-friendly coating such as waterborne coating, powdered, and UV coating are recommended by the government of the US and European regions such as Ecolabel 66/2010 regulation from Europe. Growing automotive production across the world is the factor that further boosts the market. The growing popularity and the adoption of the electric vehicle, Increase in adoption of the waterborne coating and powdered coating are some of the factors that are fueling the market. However, changing prices of the raw material keeps varying which is a restraining factor of the market and it is also challenging for the OEM firms. Technological advancement and development of advanced materials will create new opportunities.

Geographic Analysis:

Europe has dominated the market with 30% shares of the global revenue of the market followed by Asia Pacific. Europe has a presence of major automakers such as BMW, Volkswagen, and many more. Asia Pacific is growing rapidly with expanding the automotive sector in the region and high demand for the automobiles within the region. Improving lifestyle, growing urbanization leads to disposable income which is a driving factor for the market. North America is also expected to witness significant growth due to the development of new advanced materials and growing automotive sector, adoption of electric vehicles all these factors supporting growth of the market in North America. The Middle East and Africa will experience steady growth during the forecast period.

Competitive Scenario:

The key players in the automotive OEM coatings industry include BASF SE, PPG Industries, Axalta Coating Systems, Nippon Paint, Kansai Paint, AkzoNobel, KCC Paint, Bayer AG, and Arkema SA.

Automotive OEM Coating Market Report Scope