Dublin, March 23, 2021 (GLOBE NEWSWIRE) -- The "Automotive OEM Coatings Market by Type, by Layer, by Vehicle Type, Heavy Commercial Vehicles, and Others - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive OEM Coatings Market was valued at USD 7.93 billion in 2019 and is estimated to garner USD 13.12 billion by 2030, expanding at a CAGR of 4.6% of during the forecast period, from 2020 and 2030.
Automotive OEM coatings are used to coat the surface of automobiles for the protection of the vehicle surface and enhancement of its aesthetic appearance. These coatings are mainly solvent-based, water-based, and powdered based. They increase the durability of vehicles and offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, acid rain, and other foreign particles.
Market Dynamics and Trends
The growth of the automotive OEM coatings market is attributed to growing demand for commercial utility vehicles, high inclination towards efficient transport, increase in the trend of possessing personal automotive transports and rise in the demand for passenger cars.
However, high cost of raw materials, implementation of strict environmental emission standards, and concerns related to the use of solvent-borne automotive coatings that impose the risk of environmental hazard are impeding the market growth during the forecast period. On the other hand, high preference for light weight vehicles, offering low fuel-consumption and efficiency along with the growing demand for electric and hybrid vehicles, offering lower carbon emissions are expected to create opportunities for the global automotive OEM coatings market.
Market Segmentations and Scope of the Study
The global automotive OEM coatings market is segmented based on type, layer, vehicle type, and geography. On the basis of type, the market is segregated into solvent-borne, water-borne, powdered, and others. In terms of layer, the market is fragmented into primer, basecoat, electrocoat, and clearcoat. Based on vehicle type, the market is divided into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and others. On the basis of geography, the market is categorized into North America, Europe, Asia-Pacific, and Rest of World (RoW).
Geographical Analysis
North America is expected to account for a major share of the global market during the forecast period owing to the increase in adoption of automotive OEM coatings. Moreover, increase in technological advancements, well-established automotive infrastructures, and high adoption of electronic vehicles are fuelling the market growth in this region.
The market in Asia-Pacific is expected to grow during the forecast period due to the increase in innovation, rise in strategic collaborations between players, and growth in the demand for commercial and light weight vehicles in this region.
Competitive Landscape
Major market players operating in the automotive OEM coatings market are BASF SE, Axalta Coating Systems, PPG Industries, Kansai Paint, Nippon Paint, AkzoNobel, KCC Paint, Sherwin-Williams Company, Arkema SA, and Bayer AG.
In February 2020, Nippon Paint used its first-ever velocity system to paint the car in a single day, at one of its units based in India. The car painted using Spray guns and Nax-Pro preparation was polished using various finishing products. Nippon Paint augmented finishing solutions offer a complete range of paint, preparation, finishing, and maintenance products.
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Research Methodology
2. Market Snapshot, 2019-2030 Million Usd
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Automotive Oem Coatings Market, by Type
5.1. Overview
5.2. Solvent-Borne
5.3. Waterborne
5.4. Powdered
6. Global Automotive Oem Coatings Market, by Layer
6.1. Overview
6.2. Primer
6.3. Basecoat
6.4. Electrocoat
6.5. Clearcoat
7. Global Automotive Oem Coatings Market, by Vehicle Type
7.1. Overview
7.2. Passenger Cars
7.3. Light Commercial Vehicles
7.4. Heavy Commercial Vehicles
8. Global Automotive Oem Coatings Market, by Region
9. Company Profiles
- BASF SE
- Axalta Coating Systems
- PPG Industries
- Kansai Paint
- Nippon Paint
- AkzoNobel
- KCC Paint
- Sherwin-Williams Company
- Arkema SA
- Bayer AG
For more information about this report visit https://www.researchandmarkets.com/r/erswgy