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OEM Coatings Global Market Insights: Growth Drivers, Size & Forecasts to 2029
OEM Coatings
What Is the Forecasted Market Growth Rate of the OEM Coatings Industry?
The size of the OEM coatings market has seen sustained growth in the past few years. It is projected to rise from $73.99 billion in 2024 to $77.32 billion in 2025, growing at a compound annual growth rate (CAGR) of 4.5%. The expansion during the historic period can be credited to factors such as the growth of the automotive industry, a rise in manufacturing activities, strict environmental rules, the requirement for high-performance coatings, emphasis on aesthetic appearance in consumer products, and the evolution of powder coatings.
How Will the OEM Coatings Market Size Evolve From 2025 to 2029?
The market size of oem coatings is projected to witness robust growth in the coming years, expanding to $98.24 billion by 2029 with a 6.2% compound annual growth rate (CAGR). This surge in the prediction period could be due to the increasing demand for bio-based and eco-friendly coatings, technological progress in waterborne coatings, personalization and trending colors, broadening of the aerospace sector, development in the renewable energy field, and an emphasis on using lightweight materials in the production of automobiles. Anticipated trends during the forecast period consist of the adoption of advanced coating technologies, heightened demand for UV-cured coatings, the integration of digitalization and industry 4.0, strategic alliances and partnerships, focus on anti-bacterial and hygienic coatings, along with regulatory adherence and reduction in volatile organic compounds (VOC).
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What Are the Main Growth Drivers in the OEM Coatings Market Today?
The surge in the need from final consumption sectors is predicted to fuel the advancement of the OEM coatings market. OEM coatings, which are utilized in the operation or application on the substrate in conjunction with products from other enterprises, offer benefits to various end-user industries, including automotive and consumer electronics industries. They help to reduce expenses and improve performance, thus elevating the desire for OEM coatings. As an illustration, data from the European Automobile Manufacturers' Association, a Belgium-based automotive industry association, highlighted a robust enlargement of the EU car market in 2023 by 13.9% compared to 2022, amounting to a volume of 10.5 million units in March 2024. Consequently, the snowballing need from end-use sectors is accelerating the expansion of the OEM coatings market.
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Which OEM Coatings Market Segment Is Expected to Lead Through 2029?
The oem coatings market covered in this report is segmented -
1) By Types: Powder Coatings, Water-Borne Coatings, Solvent-Borne Coatings, Radiation Curable Coating
2) By Application: Automotive, Wood Or Non-Wood Furniture, Metal Building Finishes, Paper And Paperboard, Electrical Insulation, Other Applications
3) By End - Use: Transportation, Consumer Products, Heavy Equipments And Machinery, Other End-Users
Subsegments:
1) By Powder Coatings: Thermosetting Powder Coatings, Thermoplastic Powder Coatings
2) By Water-Borne Coatings: Acrylic Water-Borne Coatings, Polyester Water-Borne Coatings, Epoxy Water-Borne Coatings
3) By Solvent-Borne Coatings: Alkyd Solvent-Borne Coatings, Epoxy Solvent-Borne Coatings, Acrylic Solvent-Borne Coatings
4) By Radiation Curable Coatings: UV Curable Coatings, Electron Beam (EB) Curable Coating
Which Market Trends Are Expected to Dominate OEM Coatings Industry Growth?
Product evolution is a growing trend gaining traction in the OEM coatings industry. Prominent firms in this market are creating novel products with cutting-edge characteristics to solidify their market standing. For example, BASF SE, a chemical firm based in Germany, introduced the ColorBrite Airspace Blue ReSource basecoat, which has a biomass balance approach and is REDcert certified, in December 2022. This automotive coating employs renewable resources. About 20% of the product's carbon footprint is curtailed due to its unique qualities.
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Which Companies Hold the Largest Market Share in the OEM Coatings Sector?
Major companies operating 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, BASF SE, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., 3M Company, DuPont, Taralac, US Coatings, Allnex, Reliable Paints, Arkema S.A., Berger Paints India Ltd., Covestro AG, Dymax Corporation, Eastman Chemical Company, HMG Paints Ltd., KAPCI Coatings, KCC Corporation, Krylon Industrial, Lord Corporation, RPM International Inc., Sika AG, Solvay S.A., The Chemours Company, Tiger Coatings GmbH & Co. KG
Where Is the OEM Coatings Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the OEM coatings market in 2024. The regions covered in the OEM coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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