Original Equipment Manufacturer (OEM) Coatings Market would Rocket up to USD 105.28 Billion by 2030

Data Bridge Market Research analyses that the original equipment manufacturer (OEM) coatings market is expected to undergo a CAGR of 4.98% from 2023 to 2030. This indicates that the market value, USD 71.37 billion in 2022, would rocket up to USD 105.28 billion by 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Market Definition

Coatings are paints applied to coat the object's surface to protect object's surface and increase its aesthetic appearance. These are mainly waterborne, powdered, solvent-borne, and other types. These coatings and the growing durability of objects provide a high protection shield against intense ultraviolet exposure, extreme temperature ranges, acid rain, and other foreign particles. The global coatings industry is a main subset of the international chemical sector. Coatings generally refer to any covering applied to an object's surface for decorative or functional reasons. In 2021, the global coatings industry was projected to be valued at approx. 160 billion dollars. It is estimated that by 2029, this sector's market value will surpass approximately 235 billion U.S. dollars. The targeted market growth is mainly driven by the growing demand for coating in the construction industry, with the automotive, general industrial, railing, coil, wood, aerospace, and packaging coatings markets.

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Global Original Equipment Manufacturer (OEM) Coatings Market Dynamics

Drivers

Increasing demand for polyurethane coating due to unique properties

Polyurethane coatings are maximum in demand because of their unique properties such as impact resistance, low odor, low-temperature flexibility, high tensile strength, chemical resistance, water resistance, mar-resistant, non-flammable, alkali resistant, as high elongation, U.V. resistance, abrasion resistance, highly compatible with acrylic emulsions, and low VOC's. As a result of all these properties, polyurethane coatings are used in numerous industries such as demand for the industrial, textile, electrical & electronics, and other automotive & transportation, aerospace, wood & furniture, and construction which are expected to drive the market growth rate in the forecast period.

Growing environmental concerns

Due to the growing environmental concerns, the significant growth in the automotive industry, along with the growing demand for energy-efficient mobility and commercial utility vehicles, is one of the major factors expected to drive the growth rate of the original equipment manufacturer (OEM) coatings market. In line with this, the increasing demand for eco-friendly and sustainable waterborne and solvent-borne coatings for painting numerous interior elements of the vehicle, such as meter clusters, steering wheels, door trim, instrument panels, speaker grills, and armrest bezels, will further drive market growth.

Opportunities

Surging product launches

The surging product launches and other

innovations by key players offer numerous growth opportunities in the market. The players in the OEM coatings market are adopting numerous strategies such as mergers and acquisitions, supply/distribution agreements, expansion, and new product launches to maintain their dominance and presence in the market. For instance, Hempel launched a new epoxy primer named Hempaprime Shield 700 HS on 16 May 2019. This primer can be used for coating heavy-duty equipment and trucks. This newly launched primer is a two-component high-solids epoxy primer with exceptional corrosion resistance and exceptional adhesion even in the harshest environments. This primer also has fast drying characteristics, wrinkle resistance, and short minimum overcoat intervals even at a high dry film thickness (DFT).

Global Original Equipment Manufacturer (OEM) Coatings Market Scope

The original equipment manufacturer (OEM) coatings market is segmented on the basis of formulation and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Formulation

Powder Coatings
Waterborne Coatings
Solvent-Borne Coatings
Radiation Curable Coatings

End-User

Transportation
Automotive
Acrylic Coatings
Polyurethane Coatings
Epoxy Coatings
Alkyd Coatings
Polyester Coatings
Marine
Epoxy Coatings
Polyurethane Coatings
Other Coatings
Other Transportation
Consumer Products
Epoxy Coatings
Polyester Coatings
Acrylic Coatings
Polyurethane Coatings
Heavy Equipment & Machinery
Epoxy Coatings
Alkyd Coatings
Acrylic Coatings
Polyurethane Coatings

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Reasons for Get Original Equipment Manufacturer (OEM) Coatings Market Report

>> This report gives a forward-looking prospect of various factors driving or restraining market growth.

>> It renders an in-depth analysis for changing competitive dynamics.

>> It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.

>> It gives a six-year forecast evaluated on the basis of how the market is predicted to grow.

>> It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights into the Original Equipment Manufacturer (OEM) Coatings Market.

>> This report helps the readers understand key product segments and their future.

Competitive Landscape and Original equipment manufacturer (OEM) coatings Market Share Analysis

The original equipment manufacturer (OEM) coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to original equipment manufacturer (OEM) coatings market.

Some of the major players operating in the original equipment manufacturer (OEM) coatings market are:

Nippon Paint Holdings Co., Ltd. (Japan)
Kansai Paint Co., Ltd. (Japan)
Covestro AG (Germany)
KAPCI Coatings (India)
KCC Corporation (South Korea)
Bernardo Ecenarro S.A. (Spain)
SEM Products, Inc. (U.S.)
Sheboygan Paint Co (U.S.)
Alps Coating Sdn. Bhd. (Malaysia)
NOROO Paint & Coatings Co., Ltd. (South Korea)
Koninklijke DSM N.V. (Netherlands)
WEG SA (Brazil)
The Lubrizol Corporation (U.S.)
HMG Paints Ltd (U.K.)
James Briggs Limited (U.K.)
Reichhold LLC (U.S.)
TOA Performance Coating Corporation CO., Ltd. (Thailand)
Yashm Paint & Resin Industries (Iran)
Allnex Group (Germany)
Samhwa Paints Industrial Co. Ltd (South Korea)
BASF SE (Germany)
Axalta Coating Systems, Ltd. (U.S.)
3M (U.S.)
AkzoNobel N.V. (Netherlands)
PPG Industries, Inc. (U.S.)
The Sherwin-Williams Company (U.S.)
Dow (U.S.)

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Major Points Covered in Original Equipment Manufacturer (OEM) Coatings Market Report:

1. Original Equipment Manufacturer (OEM) Coatings Market Overview

2. Original Equipment Manufacturer (OEM) Coatings Market Industry Competition by Manufacturers

3. Original Equipment Manufacturer (OEM) Coatings Market Capacity, Production, Revenue (Value) by Region

4. Original Equipment Manufacturer (OEM) Coatings Market Supply (Production), Consumption, Export, Import by Region

5. Market Production, Revenue, Price Trend by Type

6. Original Equipment Manufacturer (OEM) Coatings Market Industry Analysis by Application

7. Industry Manufacturing Cost Analysis

8. Original Equipment Manufacturer (OEM) Coatings Market Manufacturers Profiles/Analysis

9. Industrial Chain, Sourcing Strategy and Downstream Buyers

10. Marketing Strategy Analysis, Distributors

11. Market Effect Factors Analysis

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