The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The OEM coatings market has witnessed significant growth over the past few years, driven by various factors that continue to shape its trajectory. Understanding the market’s growth drivers and future prospects is crucial for stakeholders and industry enthusiasts alike.

• Robust Market Growth: The OEM coatings market has experienced substantial expansion, with its size escalating from $70.08 billion in 2023 to $74.48 billion in 2024, marking a notable compound annual growth rate (CAGR) of 6.3%.
• Historical Growth Factors: The historical growth of the OEM coatings market can be attributed to several key factors, including the expansion of the automotive industry, increased manufacturing activities, stringent environmental regulations, demand for high-performance coatings, and the development of powder coatings.

Anticipated Growth Trajectory

The momentum is expected to continue in the coming years, with the OEM coatings market projected to reach $94 billion in 2028, boasting a CAGR of 6.0%. This forecasted growth is fueled by evolving consumer preferences, technological advancements, and emerging trends across various end-use industries.

• Forecasted Growth Drivers: The anticipated growth in the OEM coatings market is underpinned by factors such as the rising demand for bio-based and sustainable coatings, advancements in waterborne coatings, customization and color trends, expansion of aerospace industry, growth in the renewable energy sector, and the focus on lightweight materials in automotive manufacturing.
• Emerging Trends: Major trends shaping the forecast period include the adoption of smart coating technologies, increasing demand for UV-cured coatings, digitalization and industry 4.0 integration, strategic collaborations and partnerships, emphasis on anti-microbial and hygienic coatings, and regulatory compliance for VOC reduction.

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End-Use Industry Demand Boosts Growth In OEM Coatings Market

The surge in demand from end-use industries is expected to be a primary driver for the OEM coatings market’s growth trajectory. OEM coatings play a crucial role in various industries, including automotive and consumer electronics, by enhancing performance and reducing costs.

• Automotive Sector: The automotive industry continues to be a significant consumer of OEM coatings, with global vehicle production witnessing a steady increase. In 2021, approximately 79.1 million motor vehicles were produced worldwide, indicating a 1.3% growth compared to 2020.
• Consumer Electronics: The consumer electronics sector has also demonstrated resilience and growth, with sales reaching 31.2 billion euros (USD 31.34 billion) in 2021, reflecting a 2.5% increase compared to the previous year.

Revolutionizing OEM Coatings With Sustainable Solutions

Product innovation remains a key focus area for OEM coatings manufacturers, with sustainability emerging as a central theme. Companies are leveraging innovative approaches and technologies to develop eco-friendly coatings with advanced features.

• BASF SE’s Innovation: BASF SE introduced the ColorBrite Airspace Blue ReSource basecoat, an automotive coating utilizing renewable raw materials. The product reduces approximately 20% of its carbon footprint, showcasing a commitment to sustainability and environmental stewardship.
• Jamestown Coating Technologies Acquisition: In May 2022, Jamestown Coating Technologies acquired Yenkin-Majestic Paint Corporation, aiming to bolster its portfolio of high-performance, environmentally friendly paints and coatings. This strategic move underscores the growing emphasis on sustainability and innovation within the industry.

Market Segmentation and Regional Dynamics

The OEM coatings market is segmented based on types, applications, and end-users, reflecting its diverse landscape and applications across various industries.

• Types: Powder Coatings, Water-Borne Coatings, Solvent-Borne Coatings, Radiation Curable Coating.
• Applications: Automotive, Wood/Non-Wood Furniture, Metal Building Finishes, Paper and Paperboard, Electrical Insulation, among others.
• End-Use: Transportation, Consumer Products, Heavy Equipment and Machinery, and others.
• Regional Dominance: Asia-Pacific emerged as the largest region in the OEM coatings market in 2023, underscoring the region’s pivotal role in driving global market dynamics.

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The OEM Coatings Global Market Report 2024  provides an overview of the OEM coatings market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The OEM coatings market forecast analyzes OEM coatings market size, OEM coatings market share, leading competitor and their market positions.

The Table Of Content For The OEM Coatings Market Include:
1. OEM Coatings Market Executive Summary
2. OEM Coatings Market Segments
3. OEM Coatings Market Size And OEM Coatings Market Growth Rate
4. Key OEM Coatings Market Trends
5. Major OEM Coatings Market Drivers
……
25. Key Mergers And Acquisitions In The OEM Coatings Market
26. Top OEM Coatings Companies
27. OEM Coatings Market Opportunities And Strategies
28. OEM Coatings Market, Conclusions And Recommendations
29. Appendix

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