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(I-AutoNewsWire.com, September 09, 2019 ) Market Overview
The Global Automotive OEM Coatings market was valued at USD xx million in 2017 and is estimated to reach USD xx million by 2025, with a CAGR of xx% during the forecast period from 2019 to 2026.
Market Dynamics
• Increasing automobile demand, aging vehicles, development in infrastructure, and environmental concerns are the forces behind the increasing demand for automotive OEM coatings.
• Increasing vehicle production in countries such as the U.S., Germany, China, Japan, Mexico, South Korea, along with aging vehicles is a primary driver for the market.
• The stringent regulations and environmental norms in the developed regions like the U.S. and Europe are accelerating the demand for eco-friendly coatings such as Water-borne coatings, powder coatings and UV coatings in these regions and thus boosting the overall market demand as well.
• The increasing technological advancements and rising R&D investments will also augment the market growth in the coming years.
• The fluctuations in the prices of raw materials like resins, pigments, titanium oxides, and additives can restrain the growth of the market during the forecast period.
Market Segmentation
• The Global Automotive OEM Coatings Market report segments the market by Type, layer and vehicle type.
• Type segment includes Solvent-borne, Water-borne, Powdered, and UV-cured. Solvent-borne OEM coatings had a significant market share in 2017, and are the most traditionally used coatings.
• However, the Water-borne segment is estimated to be the most lubricative segment during the forecast period; and is expected to register the highest growth.
• Water-borne OEM coatings are the future of automotive OEM coatings, and currently the transition from Solvent-borne coatings to Water-borne OEM coatings is taking place quickly in the automotive industry.
• The increasing pressure from regulatory bodies has prompted the automotive coatings industry to move towards more sustainable materials and processes.
• Solvent-based automotive paints contain VOCs and hazardous air pollutants that contribute to air pollution and cause numerous adverse health effects, including eye/skin irritation, and central nervous system effects.
• As water-borne OEM coatings use water as a solvent to dissolve a resin, these are more environmentally friendly and safe for the human health.
• The other advantages of Water-borne OEM coatings which are boosting its demand are increased productivity, reduced costs and better durability of the surface.
• Further, based on the layer the market can be segmented as Primer, Basecoat, E-coat, and Clearcoat. Also, the vehicle type segment consists of Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others.
Geographical Analysis
• Asia-Pacific was the largest market for Automotive OEM coatings in 2017 and is also expected to dominate the market in the coming years.
• The increasing automobile production in countries like China, South Korea, India, Japan, Thailand, and Indonesia is a primary reason for the large share of the APAC region in the market.
• The rapid economic growth, increasing governments’ investments, and advancements in road infrastructure especially in China and India, is also spurring the demand for Automotive OEM coatings in the region.
• The strong presence of key players and rising investments in the area is further boosting the market growth.
• The market growth in North American and European region will mostly occur because of the stringent regulations and environment safety norms, which will drive the market for Water-borne, Powdered and UV-coated Automotive OEM coatings.
Comapany profiles
The Global Automotive OEM Coatings market report profiles the following companies-
• BASF,
• Axalta Coating Systems,
• Nippon Paint,
• Others
View full sample report: https://www.datamintelligence.com/research-report/automotive-oem-coatings-market
Download free sample: https://www.datamintelligence.com/download-sample /automotive-oem-coatings-market
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