According to TechSci Research report, “Oem Coatings Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Oem Coatings Market stood at USD 68.35 billion in 2022 and is anticipated to grow with a CAGR of 4.65% in the forecast period, 2023-2028.
The initiatives taken by the government based on OEM coatings have led to favorable market conditions for the Global Oem Coatings Market. Several factors contribute to the growth of various OEM coatings market products.
In the United States, for instance, there has been a significant decline in automotive production in recent years, with a substantial 16% decrease observed in 2021 compared to the previous year. This decline has raised concerns about the future of the industry and its impact on the economy. In response, the government has undertaken several proactive initiatives to strengthen the automotive manufacturing sector and ensure its long-term sustainability. These initiatives include not only financial support but also policy measures aimed at promoting innovation, improving infrastructure, and fostering collaboration between industry stakeholders.
Another instance that highlights the industry’s commitment to innovation and sustainability is a specific project funded by the U.S. Department of Energy. This project focuses on developing a lower energy, higher productivity automotive coating system that has the potential to significantly reduce manufacturing costs. By leveraging advanced materials and process optimization techniques, this initiative aims to create a more efficient and environmentally friendly coating solution for the automotive industry. This reflects a broader trend within the coatings industry, where there is a growing emphasis on adopting sustainable and efficient processes to minimize environmental impact while maximizing productivity and cost-effectiveness.
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Polyurethane coatings are in high demand due to their exceptional properties, making them a preferred choice across various industries. These coatings offer a wide range of benefits, including impact resistance, low odor, flexibility at low temperatures, high tensile strength, chemical resistance, water resistance, mar resistance, non-flammability, alkali resistance, high elongation, UV resistance, abrasion resistance, and compatibility with acrylic emulsions.
Due to these versatile properties, polyurethane coatings find application in numerous sectors such as industrial, textile, electrical and electronics, automotive and transportation, aerospace, wood and furniture, and construction. This widespread usage across diverse industries is expected to drive the market growth rate in the forecast period, as the demand for these coatings continues to rise.
The Global OEM Coatings Market is segmented into type, application, regional distribution, and company.
Based on its type, the water-borne coatings segment held the largest share in the market. One of the key factors driving the dominance of water-borne coatings in the market is the influence of regulatory trends. As environmental regulations pertaining to volatile organic compound (VOC) emissions continue to tighten, manufacturers are recognizing the need for compliant solutions. Water-borne coatings have emerged as a preferred choice due to their ability to meet these stringent regulations while still delivering high-quality performance and durability. By adopting water-borne coatings, manufacturers can ensure both regulatory compliance and customer satisfaction, making it a win-win solution for all stakeholders involved.
Based on region, the Asia Pacific segment is expected to grow during the forecast period.
The rapid urbanization and industrialization in the region have significantly contributed to the growth of the OEM coatings market. As economies in the region continue to expand, there is an increasing demand for transportation infrastructure, resulting in a surge in vehicle production. This, in turn, leads to a higher demand for OEM coatings to protect and enhance the appearance of these vehicles. With the rising need for advanced and durable coatings that can withstand harsh environmental conditions, the OEM coatings market is poised for continued growth in the coming years.
Major companies operating in Global OEM coatings Market are:
- The Lubrizol Corporation
- BASF SE
- Kao Corporation
- PPG Industries, Inc.
- Hempel A/S
- Jotun A/S
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Nippon Paint Holdings Co., Ltd
- Allnex GMBH
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“Growing application of OEM coatings in various end-user industries are key drivers of the OEM coatings market. Growth in the competitive landscape and the presence of well-established companies in the market who are dedicated to enhancing their productivity of OEM coatings with every passing year are anticipated to register impressive growth in the Global Oem Coatings Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Global Oem Coatings Market By Type (Powder Coatings, Water-borne Coatings, Solvent-borne Coatings, Radiation Curable Coatings), By Application (Transportation, Consumer Products, Heavy Equipment, Machinery), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Oem Coatings Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Oem Coatings Market.
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Table of Content-Oem Coatings Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Applications
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Impact of COVID-19 on Global Oem Coatings Market
- Global Oem Coatings Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Powder Coatings, Water-borne Coatings, Solvent-borne Coatings, Radiation Curable Coatings)
5.2.2. By Application (Transportation, Consumer Products, Heavy Equipment, Machinery)
5.2.3. By Region
5.2.4. By Company (2022)
5.3. Market Map
- Asia Pacific Oem Coatings Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By Country
6.3. Asia Pacific: Country Analysis
6.3.1. China Oem Coatings Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By Application
6.3.2. India Oem Coatings Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By Application
6.3.3. Australia Oem Coatings Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By Application
6.3.4. Japan Oem Coatings Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Type
6.3.4.2.2. By Application
6.3.5. South Korea Oem Coatings Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Value
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By Type
6.3.5.2.2. By Application
