“Increased demand for OEM coatings from the transportation end-use industry is driving the growth of the OEM coatings market across the globe.”
The OEM coatings market is projected to reach USD 69.28 billion by 2022, at a CAGR of 4.7% from 2017 to 2022. Increasing demand for OEM coatings from the transportation end-use industry segment is the major driver for the growth of the OEM coatings market. However, the high content of volatile organic compounds (VOCs) in OEM coatings is the major restraint for the growth of the OEM coatings market across the globe. The OEM coatings industry is expected to grow during the forecast period due to increasing demand for OEM coatings from China, India, South Korea, and rest of Asia-Pacific.
“The powder coatings formulation segment of the OEM coatings market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022.”
The powder coatings formulation segment of the OEM coatings market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The growth of this segment can be attributed to the increased use of powder coatings for steel parts as they are resistant to chemical and physical stress. These coatings are used in a number of industries as they not only protect OEM parts from corrosion but also add to their aesthetic value.
“The Asia-Pacific OEM coatings market is projected to grow at the highest CAGR during the forecast period.”
The Asia-Pacific region is the largest market for OEM coatings, globally. China is the leading market for OEM coatings in the Asia-Pacific region, owing to the large base of the automotive and consumer products industries in the region. The increasing demand for OEM coatings in China can be attributed to the growing investments by the automotive manufacturers in the country, increasing purchasing power of the masses, and initiatives undertaken by the government of China to boost the growth of various industries, such as construction, automotive, and consumer goods & appliances in the country.
This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories on the basis of the company type, designation, and region.
• By Company Type: Tier 1–42%, Tier 2–25%, and Tier 3–33%
• By Designation: Sales Executives–33%, Managers–42%, and Researchers & Consultants–25%
• By Region: Asia-Pacific–58%, Middle East & Africa–8%, Europe–17%, and North America–17%
The report also includes company profiles and competitive strategies adopted by the major market players, such as 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.), Jotun (Norway), BASF SE (Germany), Nippon Paints Holdings Co., Ltd. (Japan), 3M Company (U.S.), and Kansai Paints Co., Ltd. (Japan), among others to strengthen their position in the OEM coatings market.
This research report categorizes the OEM coatings market on the basis of the formulation, end-use industry, and region. It forecasts revenue growth and includes an analysis of the trends in each of the submarkets. These segments have been further described in detail with their subsegments in the report. The value and volume forecasts for these segments and subsegments have also been provided in the report till 2022. The report also includes company profiles and competitive strategies that have been adopted by the major players operating in the OEM coatings market.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market ranking of the top players, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the OEM coatings market, high-growth regions, and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the formulations of OEM coatings offered by the top market players
• Product Development/Innovation: Detailed insights on the emerging technologies, research & development (R&D) activities, and new product launches in the OEM coatings market
• Market Development: Comprehensive information on the lucrative, emerging markets as the report analyzes the OEM coatings market across different regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the OEM coatings market
• Competitive Assessment: In-depth assessment of the strategies, products, and manufacturing capabilities of the leading players in the OEM coatings market