Press release
OEM Coatings Market 2023 Latest Insights, Growth Rate, Future Trends And Forecast To 2032
OEM Coatings Market
The Business Research Company's OEM Coatings Global Market Report 2023 identifies increase in demand as the major driver for the OEM Coatings market's growth in the forecast period. OEM coatings refer to the coatings that are used in the process or application on the substrate while integrating other companies' products. OEM coatings are helpful for various end-user industries, such as the automotive and consumer electronics industries
The global OEM coatings market size is expected to grow from $66.65 billion in 2022 to $71.06 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The OEM coatings market size is expected to grow to $89.03 billion in 2027 at a CAGR of 5.8%.
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Major competitors in the OEM Coatings market are PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems Ltd., Jotun.
A key trend in the OEM Coatings market includes product innovation. Major companies operating in the OEM coatings market are developing innovative products with advanced features to strengthen their position in the market. For instance, in December 2022, BASF SE, a German chemical company, launched the ColorBrite Airspace Blue ReSource basecoat based on the biomass balance approach, certified by REDcert. ColorBrite Airspace Blue ReSource basecoat is an automotive coating using renewable raw materials. The unique feature of the product helps reduce around 20% of the product's carbon footprint.
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The OEM Coatings market is segmented -
• By Types: Powder Coatings, Water-Borne Coatings, Solvent-Borne Coatings, Radiation Curable Coating
• By Application: Automotive, Wood/ Non-Wood Furniture, Metal Building Finishes, Paper and Paperboard, Electrical Insulation, Other Applications
• By End - Use: Transportation, Consumer Products, Heavy Equipments and Machinery, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the OEM Coatings market.
The Business Research Company's "Global OEM Coatings Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The OEM Coatings Market Include:
1. Executive Summary
2. OEM Coatings Market Characteristics
3. OEM Coatings Market Trends And Strategies
4. OEM Coatings Market - Macro Economic Scenario
5. OEM Coatings Market Size And Growth
………………………………………………………………………
26. Africa OEM Coatings Market
27. OEM Coatings Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The OEM Coatings Market
29. OEM Coatings Market Future Outlook and Potential Analysis
30. Appendix
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