Escalating demand for commercial utility vehicles & energy-efficient mobility, owing to the rising consumer environmental concerns, is primarily driving market.
BROOKLYN, NEW YORK, UNITED STATES, February 22, 2023 /
EINPresswire.com/ -- The latest report published by IMARC Group, titled “Automotive OEM Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive OEM coatings market reached a value of US$ 7.13 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.3 Billion by 2027, exhibiting a CAGR of 4.30% during 2022-2027. Automotive original equipment manufacturer (OEM) coatings represent water-based or solvent-based paints that are applied for coating the surface of automobiles. They assist in enhancing their aesthetics, protecting against extreme temperature, intense ultraviolet (UV) radiations, chemical stains, and acid rain, improving the durability of vehicles, etc. Consequently, automotive OEM coatings are extensively used on passenger, light commercial, and heavy commercial vehicles. Presently, they are commercially available in varying types of resin forms, such as epoxy, acrylic, polyurethane, etc.
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Market Trends:
The escalating demand for commercial utility vehicles and energy-efficient mobility, owing to the rising consumer environmental concerns, is primarily driving the automotive OEM coatings market. Additionally, the inflating need for thinner film thickness, lower bake temperature, and heavy-metal-free formulations in the coating systems and processes is further catalyzing the market growth. Besides this, the growing utilization of solvent- and water-borne coatings for painting several interior elements of the vehicle, such as instrument panels, speaker grills, meter clusters, steering wheels, door trim, armrest bezels, etc., and numerous advancements across the automotive sector are acting as significant growth-inducing factors. Moreover, the shifting preferences of manufacturers from metals towards plastic coatings, owing to their durability, strength, and corrosion resistance properties, are also positively influencing the global market. Apart from this, the increasing integration of these components with ultraviolet (UV)-curved technologies that aid in removing the occurrence of volatile organic compounds (VOC) is anticipated to fuel the automotive OEM coatings market over the forecasted period.
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Automotive OEM Coatings Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the automotive OEM coatings market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Akzo Nobel N.V.
• Arkema S.A.
• Axalta Coating Systems Ltd.
• BASF SE
• Berger Paints India Limited
• Covestro AG
• Kansai Paint Co. Ltd.
• KCC Corporation
• Nippon Paint Holdings Co. Ltd.
• PPG Industries Inc.
• The Lubrizol Corporation
• The Sherwin-Williams Company.
Key Market Segmentation:
The report has segmented the global automotive OEM coatings market based on type, layer, vehicle type, application and region.
Breakup by Type:
• Solvent Borne
• Waterborne
• Powdered
• Others
Breakup by Layer:
• Primer
• Basecoat
• Electrocoat
• Clearcoat
Breakup by Vehicle Type:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others
Breakup by Application:
• Interior
• Exterior
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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