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Global OEM Coating Market: Market Opportunity and Outlook

Updated: Aug 24, 2023

Market Introduction


The global OEM coating market is growing at a faster rate when compared to the largest paints and coatings segment i.e., architectural paints & coatings. Increasing industrialization, rising demand for automotive, and rising organization capital expenditure to increase their production capacity in order to meet the growing demand are some of the key reasons for the growth of the OEM coating industry.



Sector

Coating Application

Market Opportunity, $M, 2030

Battery Electric Vehicle

Battery and Electric Motor Coating

XX

Autonomous Driving

Sensor Compatible Coating

XX

Shared Mobility

Coating for Safety and Increase Vehicle Utilization

XX

Customization & Personalization

Coating as Per Consumer Demand

XX

Industry 4.0

Technology to Reduce Coating Cost

XX

Industry Dynamics


Currently, automotive sector is the largest consumer of OEM coatings owing to large production of vehicle and high amount of consumption of coatings per vehicle. However, in the light of COVID-19, the industry has witnessed severe disruption which has impacted the automotive market by around 16% when compared to 2019 level, which was already not a great year for automotive industry.


Source: Organisation Internationale des Constructeurs d'Automobiles


Geographically, APAC held the dominant position in the OEM coating industry. Being the manufacturing hub for the whole world, region consumes the highest amount of coatings. China, alone produces around 25 million vehicles in 2020. China, India, Japan, and South Korea are among the top 10 automotive vehicle production in the world. Further, vast general manufacturing industry in the region providing growth opportunity for companies to open their manufacturing plant in the region to cater regional population. This is also creating demand for coating products in the region.


Source: Insightutive Analysis; Industry Experts


The OEM coating market is moderately consolidated with the presence of global paints and coatings giants in the market. Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coatings Systems Ltd., BASF SE, Nippon Paints Holdings Co. Ltd., and Kansai Paints Co. Ltd. has vast product portfolio which cater almost all application areas of OEM coating industry. However, their market presence in western economies are much more when compared to APAC region, where regional and local market players providers strong competition to these large international players.



Source: Insightutive Analysis; Industry Experts



Analyst at insightutive research believes that the outlook for OEM coating is positive and the industry will witness significant growth in this decade.

For complete market insight into the OEM coating industry, you can avail our bespoke research reports. Schedule your call with our analysts and customize your report as per your requirement.



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