DUBLIN–(BUSINESS WIRE)–The report “Automotive OEM Coatings Market By Type, By Coat, By Vehicle Type – Global Opportunity Analysis and Industry Forecast, 2022-2030” has been added to from ResearchAndMarkets.com offer.
The global automotive OEM coatings market size was valued at USD 7.23 billion in 2021, with a volumetric revenue of 1706.9 kilotons; is expected to gross $13.12 billion by 2030 with an expected volumetric revenue of 2,864.1 kilotons, demonstrating a respective CAGR of 8.1% and 7.0% from 2022 to 2030.
Axalta Coating Systems
Automotive OEM coatings are paints applied to cover the surface of automobiles both to protect the surface of the vehicle and to enhance its aesthetic appearance. These are mainly solvent based, water based, powder and other types. These coatings, while increasing vehicle durability, provide high protection against extreme temperature ranges, intense ultraviolet exposure, acid rain and other foreign particles. Due to strict regulatory standards, automotive OEM coatings are formulated to meet environmental standards.
Market dynamics and trends
The automotive OEM coatings market is gaining momentum due to growing demand for commercial utility vehicles, greater inclination towards efficient transportation, increased tendency to own personal automobile transportation, especially in the premium vehicle segment, as well as the growing demand for passenger cars.
Additionally, market trends such as higher preferences for light-duty vehicles with lower fuel consumption and higher efficiency, as well as growing demand for electric and hybrid vehicles with lower carbon emissions, are expected to create new opportunities. in the global automotive OEM coatings market throughout the forecast. period.
However, high cost raw materials, stringent environmental emission standards, and concerns over the use of solvent-based automotive coatings that impose a risk of environmental hazard are the factors responsible for hampering the growth of the global OEM automotive coatings market over the forecast period.
Additionally, investments in R&D activities for new production alternatives, strategic collaborations and new product launches by market players are bound to create lucrative opportunities in the global OEM coatings market in the future. automobile.
Main topics covered:
2. Market Overview, 2019-2030 USD Million
3. Analysis of Porter’s Five Forces Model
4. Market dynamics
4.1. Growth engines
5. Global Automotive OEM Coatings Market, By Type
6. Global Automotive OEM Coatings Market, By Coat
7. Global Automotive OEM Coatings Market, By Vehicle Type
8. Global Automotive OEM Coatings Market, By Region
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/wf5u12