DUBLIN--(BUSINESS WIRE)--The "Automotive OEM Coatings Market by Type, by Layer, by Vehicle Type - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive OEM Coatings Market size was valued to $7.23 billion in 2021, with a volumetric turn-over of 1706.9 kilotons; is predicted to garner $13.12 billion by 2030 with an expected volumetric turn-over of 2,864.1 kilotons, demonstrating a respective CAGR of 8.1% and 7.0% from 2022-2030.
Companies Mentioned
- BASF SE
- Axalta Coating Systems
- PPG Industries
- Kansai Paint
- Nippon Paint
- AkzoNobel
- KCC Paint
- Sherwin-Williams Company
- Arkema SA
- Bayer AG
Automotive OEM coatings are paints applied to coat the surface of automobiles for both protection of the vehicle surface as well as for enhancing its aesthetic appearance. These are majorly solvent-borne, waterborne, powdered, and of such other types. These coatings along with increasing the durability of vehicles, offer high protection shield against extreme temperature ranges, intense ultraviolet exposure, acid rain and other foreign particles. Due to stringent regulatory standards, the automotive OEM coatings are formulated as per the environment standards abiding to environmental norms.
Market Dynamics and Trends
The automotive OEM coatings market is gaining traction due to growing demand for commercial utility vehicles, higher inclination towards efficient transport, increased trend of possessing personal automotive transports especially in premium vehicles segment, as well as growing demands for passenger cars.
Besides, market trends such as higher preferences towards light weight vehicles offering lower fuel-consumption and higher efficiency, plus growing demand for electric and hybrid vehicles offering lower carbon emissions, are expected to create new opportunities in the global automotive OEM coatings market throughout the forecast period.
However, high cost raw materials, strict environmental emission standards, and concerns related to use of solvent-borne automotive coatings that impose the risk of environmental hazard, are the factors responsible to impede the growth of global automotive OEM coatings market during the forecast period.
Moreover, investments in R&D activities for new production alternatives, strategic collaborations, and new product launches by market players, are to create lucrative opportunities in the global automotive OEM coatings market in future.
Key Topics Covered:
1. Introduction
2. Market Snapshot, 2019-2030 Million USD
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
6. Global Automotive OEM Coatings Market, by Layer
7. Global Automotive OEM Coatings Market, by Vehicle Type
8. Global Automotive OEM Coatings Market, by Region
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/wf5u12
