Automotive OEM Coatings Market Overview:
Global Automotive OEM Coatings Market size was valued at $6,426 million in 2015, and is expected to reach $9,379 million by 2022, registering a CAGR of 5.6% between 2016 and 2022. Automotive coatings are used to coat the surfaces of automobiles and exemplify the futuristic technologies, which are capable of manufacturing durable surfaces, maximizing overall efficiency while meeting environmental norms. Moreover, they enhance the overall durability and appearance of a vehicle and also safeguard it from UV radiation, extreme temperature, and foreign particles.
The global automotive OEM coatings market is segmented based on type, layer, vehicle type, and geography. The type segment is categorized into solvent-borne, waterborne, powdered, and others. Based on layer, the market is divided into primer, basecoat, electrocoat, and clearcoat. On the basis of vehicle type, the market is divided into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. The light commercial vehicles segment is anticipated to register a significant CAGR during the forecast period. Geographically, the market is analyzed across market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Automotive OEM Coatings Industry Segmentation
Top Investment Pockets
The passenger cars segment offers maximum market potential in the automotive OEM coatings market, owing to increase in demand for passenger cars and general utility vehicles globally with rise in public transportation expenditure and increase in inclination of consumers towards efficient and easy transportation needs boost the overall demand for automotive OEM coatings in the passenger cars segment. The use of automotive OEM coatings in light commercial vehicles has witnessed major developments, owing to constant growth in per capita disposable incomes and rise in demand for commercial utility vehicles. The passenger cars segment is expected to register a CAGR of 5.8% during the forecast period. However, rise in concerns related to the environmental hazards associated with the solvent-borne automotive coatings may affect the overall market growth in the developed and the developing countries, but investments in R&D in new production alternatives are expected to provide opportunities for growth in the future.
Global Automotive OEM Coatings Market Top Investment Pockets, By Vehicle Type
The clearcoat segment dominated the global market in 2014 and is anticipated to maintain its dominance throughout the forecast period growing at a significant CAGR of 5.8%.
Automotive OEM Coatings Market Share, By Layer, 2015 (%)
The European region accounted for more than 30% share of the total revenue in 2015, followed by Asia-Pacific and North America. Developing countries in the Asia-Pacific region are anticipated to register steady growth rates owing to increase in growth of the overall economy. Moreover, rise in investments by key manufacturers in the region is another key aspect that fuels the growth in the market.
Key players have economically invested higher values in R&D activities to develop advanced products to cater the requirements of the market. The key players operating in the automotive OEM coatings industry include Axalta Coating Systems, BASF SE, PPG Industries, Nippon Paint, Kansai Paint, AkzoNobel, Sherwin-Williams Company, KCC Paint, Bayer AG, and Arkema SA.
The other players in the automotive OEM coatings market value chain (profiles not included in the report) include Beckers Group, Cabot Corporation, Berger Paints, Eastman Chemical Company, Valspar Corporation, Clariant AG, Deft, Inc., Jotun A/S, Royal DSM, Lord Corporation, and Solvay S.A. among others.
- The report provides an extensive qualitative and quantitative analysis of the current and future trends of the global automotive OEM coatings market from 2014 to 2022 to determine the prevailing opportunities.
- It offers comprehensive analysis of key regions such as North America, Europe, Asia-Pacific, and LAMEA to understand the regional trends.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Extensive analysis is conducted by following key product positioning and by monitoring the top competitors within the market framework.
- Extensive qualitative insights on the significant segments or regions is also presented in the report.
- It furnishes key insights on strategic analysis of various companies and the value chain analysis of automotive OEM coatings.
Automotive OEM Coatings Market Key Segments:
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Others (Motorbikes)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA