OEM Coatings Market

Global OEM Coatings Market Size (2024 to 2029)

The size of the global Original Equipment Manufacturer (OEM) Coatings market is estimated to reach USD 73.84 billion by 2029 from USD 52.4 billion in 2024, growing at a CAGR of 7.1% from 2024 to 2029.

MARKET DRIVERS AND RESTRAINTS

With the rapid developments in the global transportation industry, the call for OEM coatings is expected to increase as makers choose these coatings to protect their parts from corrosion and improve their durability. Also, the demand for this business is driven by continuous technological advancements in the field of OEM coatings. A thin layer of OEM coating provides a decorative finish, increasing the value of the coated product. Finished cladding is considered one of the main selling characteristics of products such as wooden furniture, automobiles, and electronic devices. Product deterioration protection and value-added characteristics are expected to stimulate the global OEM coatings market during the forecast period.

However, additional functionality and decorative quality requirements are mandatory to comply with environmental regulations. The main regulations are associated with the release of VOCs, which are frequently monitored and subject to restrictions at factory facilities. Additional criteria such as waste reduction, low fire risk, and better coating efficiency must also be met. Therefore, strict government regulations are expected to restrict the market for OEM coatings in the coming years.

The economy's GDP and vehicle sales are directly linked; Vehicle sales are increasing with the improvement in GDP. Although the OEM coatings market is growing at a rapid rate worldwide, some factors are expected to hinder its growth between 2024 and 2029.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global OEM Coatings Market By Type

Architectural coatings are increasingly employed in end-users like residential and commercial buildings. OEM Industrial Coatings are specially formulated to be applied during the manufacturing process. Coated products can be made of metal, wood, or plastic. These coatings are primarily used to provide protection of the substrate from other elements. They also offer an enhanced finish to the end product. Substrates like iron, steel or wood can witness damage without proper coatings.

Global OEM Coatings Market By Application

The automotive sector was the crucial application segment of the global OEM coatings market in terms of value and volume in 2023. The resins used in the automotive application mainly include alkides, urethanes, and epoxies.

REGIONAL ANALYSIS

The Asia-Pacific region is the world leader in the OEM coatings market in terms of value and volume, and this trend is expected to continue until 2029.

Factors such as advances in the lifestyle of the masses are increasing in their purchases. Electricity and improved economic conditions in the region are expected to contribute to the growth of the region's auto industry. This, in turn, is expected to drive growth in the Asia Pacific OEM coatings market during the outlook period. Asia-Pacific had the largest share of the global OEM coatings market in the review period due to increased demand from the automotive industry in the region. China also represents a significant part of the global OEM coatings market in terms of production. North America is losing its share of the Asia Pacific market due to China's emergence as a manufacturer of low-cost OEM coatings in recent years.

KEY PLAYERS IN THE GLOBAL OEM COATINGS MARKET

PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems Ltd. (U.S.) are some of the notable companies in the global OEM coatings market

These major players have gotten different organic and inorganic techniques to keep their shares constant in the OEM coatings industry. These players are also stressing the advancement of eco-friendly coatings for OEM parts.

RECENT HAPPENINGS IN THE MARKET

• September 27, 2017 -The online store at basfcoatings.1688.com will showcase the new Yindi® Ready Mix Colors colour palette, an improved colour palette of 30 of the latest and most popular options for ten of the most popular car brands.
• Nippon Paint, the number one paint brand in Asia in terms of revenue, has launched advanced paint for commercial vehicles. Nippon Paint showcased its unique wet-on-wet (WoW) paint technology in India, focusing on providing a thin and highly efficient paint process for original equipment manufacturers and leading bus body manufacturers

DETAILED SEGMENTATION OF THE GLOBAL OEM COATINGS MARKET INCLUDED IN THIS REPORT

This research report on the global OEM coatings market has been segmented and sub-segmented based on type, application, and region.

By Type

• Architectural Coatings
• Industrial OEM Coatings
• Powder Coatings
• Others

By Application

• Automotive
• Wood/Non-wood Furniture
• Metal Building Finishes
• Paper and Paperboard
• Electrical Insulation
• Others

By Region

• North America
• Europe 
• Asia Pacific
• Latin America
• Middle East and Africa