Global Automotive OEM Coatings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Automotive OEM Coatings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Automotive OEM Coatings are used to coat the surfaces of automobiles, which are capable of manufacturing durable surfaces, maximizing overall efficiency while meeting environmental norms. Moreover, Automotive OEM Coatings enhance the overall durability and appearance of a vehicle and also safeguard it from UV radiation, extreme temperature, and foreign particles.

Market Overview:

The latest research study on the global Automotive OEM Coatings market finds that the global Automotive OEM Coatings market reached a value of USD 8763.77 million in 2022. It’s expected that the market will achieve USD 11670.65 million by 2028, exhibiting a CAGR of 4.89% during the forecast period.

Affect the normal operation of the industry

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on automotive OEM coatings industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for automotive OEM coatings production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw materials.

Affect downstream market demand

The outbreak of the COVID-19 epidemic is likely to have a greater impact on the automobile industry, which is likely to affect the Automotive OEM Coatings industry. Delays in the supply of many parts and components from Asia have led to a global shortage of raw materials for the automobile industry. According to the data of OICA, compared with 2019, the global automobile production will drop by about 13% in 2020. At the beginning of 2020, many original equipment manufacturers closed most of their production in Europe, including leading German manufacturers closed most of their manufacturing departments in Europe, and other original equipment manufacturers closed for a longer time. With the slowdown of automobile production and the further impact of COVID-19 epidemic on the industry situation, the Automotive OEM Coatings market will be negatively affected in the short term, and gradually recover and develop in the second half of the forecast period.

Strength

Continuously develop new products and new processes In order to provide the best quality products, manufacturers constantly develop new products and new processes. Affected by the global environmental protection trend, manufacturers are increasing the R&D investment share of sustainable solutions. Because some new materials and structural scenes are very sensitive to the high temperature of typical automobile painting furnaces, Axalta Coatings System is developing new curing formulas with lower temperature to promote the manufacturing choice of some light vehicles.

Weakness

Intense market competition
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made.
At present, there are many participating enterprises in the automotive OEM coatings industry. In the future market competition, if manufacturers fail to surpass their competitors in terms of product quality, sales channels and R&D strength, they will be unable to maintain their existing competitive position in the automotive OEM coatings market and lose their original market share, and there will be a risk that the operating performance of manufacturers will decline.

Opportunities


Development of electric vehicle market and progress of driverless technology The increased use of autonomous, connected, shared and electric vehicles have promoted the development of automobile OEM coatings market. In the case of autonomous driving systems, the transfer of information between vehicles and their operating environments relies on LiDAR (light detection and ranging) and radar systems. Vehicle’s exterior finish will need to provide adequate reflectivity to ensure visibility to these systems.

Region Overview:

Geographically, Asia Pacific held the largest market share – 55.87% in 2021.

Company Overview:

PPG Industries is one of the major players operating in the Automotive OEM Coatings market, holding a share of 21.79% in 2022.

PPG Industries

PPG Industrial Group is a globalized American company that mainly produces coatings, glass, glass fiber and chemicals. PPG is a world leader in protective and marine coatings, developing products that protect customers’ assets in some of the world’s most demanding conditions and environments.

Axalta Coating Systems

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, Axalta coatings are designed to prevent corrosion, increase productivity and enhance durability.

Segmentation Overview:

Among different product types, Water borne segment is anticipated to contribute the largest market share in 2027.

Solvent Borne

A solvent-borne coating is a liquid protective layer that is primarily composed of organic compounds and applied to a material's surface to prevent corrosion. Solvent-borne coatings are typically more resilient than water-borne coatings during the curing of the coating.

Water borne

A waterborne coating is an environmentally friendly surface treatment that uses water as a solvent to disperse the resin used to make the coating or paint: Water takes 80% of the solvent used. Its aim is to make the coating or paint easy to apply and also be an eco-friendly product.

Powdered

Powder coating is a type of coating that is applied as a free-flowing, dry powder. Unlike conventional liquid paint which is delivered via an evaporating solvent, powder coating is typically applied electrostatically and then cured under heat or with ultraviolet light. The powder may be a thermoplastic or a thermoset polymer. It is usually used to create a hard finish that is tougherthan conventional paint.

Application Overview:

By application, the Car body segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Automotive OEM Coatings market covered in Chapter 3:

Fujichem Sonneborn Limited (Formerly Sunneborn & Rieck)
NOROO BEE
Kansai Paint
Sherwin-Williams Company
KCC Paint
Mankiewicz
Diegel
Berlac
Mäder
Nippon Paint
AkzoNobel
Red Spot
PPG Industries
BASF
Condor Coatings
Cashew
Axalta Coating Systems
Wörwag

In Chapter 4 and Chapter 14.2, on the basis of types, the Automotive OEM Coatings market from 2018 to 2029 is primarily split into:

Solvent Borne
Water borne
Powdered
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Automotive OEM Coatings market from 2018 to 2029 covers:

Car body
Automotive interior
Automotive exterior plastic parts

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)