Global Original Equipment Manufacturer (OEM) Coatings Market – Industry Trends and Forecast to 2030

Original Equipment Manufacturer (OEM) Coatings Market Analysis and Size

The global coatings industry is a main subset of the international chemical sector. Coatings generally refer to any covering applied to an object's surface for decorative or functional reasons. In 2021, the global coatings industry was projected to be valued at approx. 160 billion dollars. It is estimated that by 2029, this sector's market value will surpass approximately 235 billion U.S. dollars. The targeted market growth is mainly driven by the growing demand for coating in the construction industry, with the automotive, general industrial, railing, coil, wood, aerospace, and packaging coatings markets.

Data Bridge Market Research analyses that the original equipment manufacturer (OEM) coatings market is expected to undergo a CAGR of 4.98% from 2023 to 2030. This indicates that the market value, USD 71.37 billion in 2022, would rocket up to USD 105.28 billion by 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Original Equipment Manufacturer (OEM) Coatings Market Scope and Segmentation

Market Definition

Coatings are paints applied to coat the object's surface to protect object's surface and increase its aesthetic appearance. These are mainly waterborne, powdered, solvent-borne, and other types. These coatings and the growing durability of objects provide a high protection shield against intense ultraviolet exposure, extreme temperature ranges, acid rain, and other foreign particles.

Global Original Equipment Manufacturer (OEM) Coatings Market Dynamics

Drivers

• Increasing demand for polyurethane coating due to unique properties

 Polyurethane coatings are maximum in demand because of their unique properties such as impact resistance, low odor, low-temperature flexibility, high tensile strength, chemical resistance, water resistance, mar-resistant, non-flammable, alkali resistant, as high elongation, U.V. resistance, abrasion resistance, highly compatible with acrylic emulsions, and low VOC's. As a result of all these properties, polyurethane coatings are used in numerous industries such as demand for the industrial, textile, electrical & electronics, and other automotive & transportation, aerospace, wood & furniture, and construction which are expected to drive the market growth rate in the forecast period.

• Growing environmental concerns

Due to the growing environmental concerns, the significant growth in the automotive industry, along with the growing demand for energy-efficient mobility and commercial utility vehicles, is one of the major factors expected to drive the growth rate of the original equipment manufacturer (OEM) coatings market. In line with this, the increasing demand for eco-friendly and sustainable waterborne and solvent-borne coatings for painting numerous interior elements of the vehicle, such as meter clusters, steering wheels, door trim, instrument panels, speaker grills, and armrest bezels, will further drive market growth.

Opportunities

• Surging product launches

The surging product launches and other innovations by key players offer numerous growth opportunities in the market. The players in the OEM coatings market are adopting numerous strategies such as mergers and acquisitions, supply/distribution agreements, expansion, and new product launches to maintain their dominance and presence in the market. For instance, Hempel launched a new epoxy primer named Hempaprime Shield 700 HS on 16 May 2019. This primer can be used for coating heavy-duty equipment and trucks. This newly launched primer is a two-component high-solids epoxy primer with exceptional corrosion resistance and exceptional adhesion even in the harshest environments. This primer also has fast drying characteristics, crack and wrinkle resistance, and short minimum overcoat intervals even at a high dry film thickness (DFT).

Restraints/ Challenges

• Many limitations associated with the original equipment manufacturer (OEMs) coating market

The original equipment manufacturer (OEM) market has certain restrictions that are estimated to hinder the market's potential growth, such as high amounts of VOC content emissions during the production process. Moreover, regulations by the authorities regarding the usage of coating-free surfaces & substrates will hamper the growth of the original equipment manufacturer (OEMs) coating market.

This original equipment manufacturer (OEM) coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the original equipment manufacturer (OEM) coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Original Equipment Manufacturer (OEM) Coatings Market Scope

The original equipment manufacturer (OEM) coatings market is segmented on the basis of formulation and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Formulation

• Powder Coatings
• Waterborne Coatings
• Solvent-Borne Coatings
• Radiation Curable Coatings

End-User

• Transportation
• Automotive
• Acrylic Coatings
• Polyurethane Coatings
• Epoxy Coatings
• Alkyd Coatings
• Polyester Coatings
• Marine
• Epoxy Coatings
• Polyurethane Coatings
• Other Coatings
• Other Transportation
• Consumer Products
• Epoxy Coatings
• Polyester Coatings
• Acrylic Coatings
• Polyurethane Coatings
• Heavy Equipment & Machinery
• Epoxy Coatings
• Alkyd Coatings
• Acrylic Coatings
• Polyurethane Coatings
• Others

Original Equipment Manufacturer (OEM) Coatings Market Regional Analysis/Insights

The original equipment manufacturer (OEM) coatings market is analyzed and market size insights and trends are provided by country, formulation and end-user as referenced above.

The countries covered in the original equipment manufacturer (OEM) coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia -Pacific dominates the original equipment manufacturer (OEM) coatings market in terms of market share revenue due to rising automobile production, mainly in Japan and China. Furthermore, the increase in the sale of automobiles in the nations of Asia-Pacific owing to the increasing disposable income and changing lifestyles will also support the market's growth.

North America will expect to be the fastest-growing region during the forecast period of 2023-2030, owing to the increase in the population. Furthermore, the development of the construction industry in the region is further expected to propel the market's growth in the upcoming years.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Original equipment manufacturer (OEM) coatings Market Share Analysis

The original equipment manufacturer (OEM) coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to original equipment manufacturer (OEM) coatings market.

Some of the major players operating in the original equipment manufacturer (OEM) coatings market are:

• Nippon Paint Holdings Co., Ltd. (Japan)
• Kansai Paint Co., Ltd. (Japan)
• Covestro AG (Germany)
• KAPCI Coatings (India)
• KCC Corporation (South Korea)
• Bernardo Ecenarro S.A. (Spain)
• SEM Products, Inc. (U.S.)
• Sheboygan Paint Co (U.S.)
• Cresta Paint Industries Ltd. (Africa)
• Alps Coating Sdn. Bhd. (Malaysia)
• NOROO Paint & Coatings Co., Ltd. (South Korea)
• Koninklijke DSM N.V. (Netherlands)
• WEG SA (Brazil)
• The Lubrizol Corporation (U.S.)
• HMG Paints Ltd (U.K.)
• James Briggs Limited (U.K.)
• Reichhold LLC (U.S.)
• TOA Performance Coating Corporation CO., Ltd. (Thailand)
• Yashm Paint & Resin Industries (Iran)
• Allnex Group (Germany)
• Samhwa Paints Industrial Co. Ltd (South Korea)
• BASF SE (Germany)
• Axalta Coating Systems, Ltd. (U.S.)
• 3M (U.S.)
• AkzoNobel N.V. (Netherlands)
• PPG Industries, Inc. (U.S.)
• The Sherwin-Williams Company (U.S.)
• Dow (U.S.)

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