Market Insights
The International Automotive OEM Coatings Market was valued at USD 7,759.5 million in 2018 and is predicted to exhibit a CAGR of 6.70% throughout the evaluation interval, 2023−2030. The rising shopper choice for automotive coatings and the rise in automotive sale throughout the globe, particularly passenger vehicles, are the components largely boosting the expansion of the worldwide automotive OEM coatings market. Moreover, the demand for automotive OEM coatings is dominated by solvent-borne coating expertise as of 2018, nonetheless, the rising regulatory strain on the usage of solvent-borne coatings throughout the globe owing to its excessive VOC content material could hamper the product market throughout the forecast interval.
Aggressive Evaluation
A number of the key gamers working within the world automotive interior trim manufacturers are PPG Industries Inc (US), Nippon Paints Holdings Co., Ltd (Japan), BASF SE (Germany), Axalta Coating Programs Ltd (US), Akzo Nobel N.V. (The Netherlands), Covestro AG (Germany), Berger Paints India Ltd (India), Kansai Paint Co., Ltd (Japan), The Sherwin-Williams Firm (US), The Lubrizol Company (US), KCC Company (South Korea), and Esdee Paints Ltd (India).
Regional Evaluation
The worldwide automotive OEM coatings market has been studied with respect to 5 areas, specifically Asia-Pacific, North America, Europe, Latin America, and the Center East & Africa. Asia-Pacific held the most important market share in 2018 and is predicted to register the best CAGR throughout the forecast interval. Europe accounted for the second-largest market share in 2018, which is additional trailed by North America. The Latin American and the Center East & African markets are anticipated to witness progress throughout the forecast interval.
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Segmental Evaluation
The worldwide automotive OEM coatings market has been segmented by utility, end-use trade, and area.
By product kind, the worldwide automotive OEM coatings market has been divided into clearcoat, basecoat, primer, E-coat, and others. The clearcoat section held the most important market share in 2018 by worth and quantity as a consequence of its comparatively large-scale consumption and excessive value. The section can also be anticipated to register the best CAGR throughout the forecast interval.
On the idea of resin, the worldwide automotive OEM coatings market has been segmented into polyurethane, acrylic, epoxy, alkyd, and others. The polyurethane section accounted for the most important share of over 45% in 2018 as a consequence of its superior efficiency traits over different resins and can also be prone to develop at a major charge within the coming years.
By expertise, the worldwide Automotive OEM Coatings Market Value Chain Analysis has been segmented into solvent-borne, water-borne, UV cured, excessive strong coatings, powder coatings, and others. The solvent-borne section held the most important market share of over 50% in 2018 as a consequence of its fast drying properties and low value. The section’s progress can also be pushed by much less regulatory strain associated to solvent-borne coatings within the nations of Asia-Pacific. Nevertheless, water-borne expertise section is predicted to exhibit the best CAGR throughout the forecast interval.
Based mostly on utility, the worldwide ppg automotive epoxy primer market has been segmented into passenger vehicles, business autos, and two-wheeler. The passenger vehicles section dominated the automotive OEM coatings market with a market share of over 50% by worth in 2018 owing to the elevated choice for automotive coatings by passenger automotive homeowners and the expansion within the passenger automotive gross sales throughout the globe. The rising in per-capita revenue within the Asia-Pacific nations is basically contributing to the elevated sale of passenger vehicles within the area and which, in flip, is rising the demand for automotive OEM coatings within the passenger vehicles section.
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