The automotive OEM manufacturer (OEM) coatings industry is projected to rise in the near future. APAC is predicted to reflect the fastest growth in the near future, led by the presence of major industry players in the region. The massive production of automobiles in Japan, Thailand, China, and India propels the automotive OEM coatings demand in the region.  

The growing preference for powder coatings, as a better substitute for liquid coatings, propels the automotive OEM coatings market. It is led by lower VOC content in these coatings. For example, BMW AG manufacturing in Europe switched to powder coatings to get a clear coating. In addition, powder clearcoats provide numerous advantages such as zero wastewater production, film thickness, or smudging of paint during application. 

The technological advancements in such products in the APAC region are the primary driver of industry growth. The rising focus of coating manufacturers is developing technological advancements, products as well processes to cater to the demand of auto manufacturers.  

The end users in the industry are focusing on coatings that provide higher functionality, regulatory compliance, reduced emissions, and fewer maintenance costs.  

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The growing investments to boost production capacity will provide attractive opportunities to the industry players in the coming future. For instance, luxury automotive companies are expanding their facilities in developing countries such as India, Brazil, and Indonesia to target middle- and upper-class populations.  

In addition, the surging disposable income and macroeconomic growth in such countries fuel automobiles and allied products demand, such as coatings, and accessories in the emerging economies.   

Under the layer segment, the clearcoat category generates a significant demand, led by the benefits of clearcoats such as protection from sun and ultraviolet rays. It is led by the need to apply thicker coatings of clearcoats compared to other layers.  

Under the technology segment, solvent-borne coatings capture an extensive share of the industry, and it is projected to follow the same trend in the near future. Water-borne coatings are predicted to experience significant growth, led by the growing preference for water-borne coatings, led by their numerous environmental benefits.   

Under the application segment, the metal parts category generates the largest industry share, and it is projected to reflect faster growth in the coming future. It is led by the requirement of metal parts for a substantial volume of coatings compare to plastic parts.  

 APAC holds the largest industry share, and it is expected to showcase extensive growth in the near future. It is led by the presence of key automobile companies in the region. China is projected to reflect dominance in the APAC-based automotive OEM coatings industry.   

China accounts for the wide-scale production of automobiles. In fact, the country is the next-significant two-wheeler manufacturer and the largest producer of commercial vehicles and passenger cars.  

Therefore, the rising production of automobiles in emerging countries fuels the demand for automotive OEM coatings. 

SOURCE: P&S Intelligence