Press release
Automotive OEM Coatings Market Growth, Size | Global Share And Industry Forecast 2022 To 2027
Industry Definition and Application:
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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What are the major drivers for the automotive OEM coatings market?
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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Report Segmentation:
The report has segmented the market on the basis of region, type, layer, vehicle type and application.
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: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
List of Major Key Players:
• Akzo Nobel N.V.
• Berger Paints India Limited
• Covestro AG
• Kansai Paint Co. Ltd.
• KCC Corporation
• Nippon Paint Holdings Co. Ltd.
• Arkema S.A.
• Axalta Coating Systems Ltd.
• BASF SE
• PPG Industries Inc.
• The Lubrizol Corporation
• The Sherwin-Williams Company.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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