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Automotive OEM Coating Additives Market Segmented By resin type such as Polyurethane, Acrylic, Epoxy in Solvent-borne, Water-borne and Powder Coating technology
Coating is considered as a primary layer on first fit or old vehicles, which prevents the vehicles from dents or other kinds of scratches, as well as provides an attractive aesthetic look to the vehicle. After the automotive OEM coating additive, several layers of varnish are applied for the desired paint color. In a passenger vehicle, four layers of coating are applied - clearcoat, basecoat, primer, and E-coat.
Clearcoat and basecoat are considered as the main coating layers. Water-borne technology is expected to gain significant traction in automotive OEM coating additives for interior purposes, owing to it containing approximately 80% of water, which comes under the eco-friendly category.
Therefore, this coating technology is also projected to fulfil the demand for future automotive vehicles, owing to its energy-efficient aspects. Increasing investments pertaining to eco-friendly coatings for vehicles, coupled with rising safety concerns regarding harmful rays such as ultra-violate rays are promising to grow the market at a considerable annual growth rate over the coming years.
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Substantial growth in overall vehicle production and increasing aging vehicles are expected to propel the overall demand for automotive OEM coating additives over the forecast period. Moreover, growth in infrastructure coupled with environmental concerns are also projected to boost the growth of the automotive OEM coating additives market over the forecast period.
Qualitative aspects such as UV resistance, oxidation resistance, stain resistance, scratch resistance, durability, and aesthetic look are also projected to make the automotive OEM coating additives market lucrative over the slated time period.
In addition, increasing vehicle production in countries such as Mexico, China, Indonesia, and South Korea, among others, is estimated to fuel the demand for automotive OEM coating additives over the forecast period.
Increasing awareness pertaining to eco-friendly coatings such as powder coatings, UV-cured coatings, and water-borne coatings are likely to forge the demand for automotive OEM coating additives over the slated time period.
Alternative technological advancements coupled with counterfeit products are collectively expected to suppress the demand for automotive OEM coating additives over the coming years. Moreover, fluctuation in the price of raw materials, comprising resins, titanium oxides, and pigments are projected to hamper the growth of the global automotive OEM coating additives market over the forecast period.
In the automotive OEM coating additives market, manufacturers are focused on manufacturing result-oriented and efficient automotive OEM coating additives by using cost-effective paint additives that have high reliability.
Moreover, increasing penetration of automatic paint colour changing technology is likely to create fresh opportunities for automotive OEM coating additive manufacturers over the forecast period.
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The Asia Pacific region is expected to grow at a prominent rate in the automotive OME coating additives market, owing to substantial growth in the production of automotive vehicles, coupled with an increasing number of trade pacts of key manufacturer with local players.
Stringent government regulations pertaining to eco-friendly vehicle coatings are promising a smoother route for the automotive OEM coating additives market. Moreover, in the U.S. consumers are adopting water-borne resin technology for coating on interior plastic components, which, in turn, accelerates the demand for automotive OEM coatings in the region.
The market in Latin America is expected to grow at a healthy growth rate in the automotive OEM coating additives market, owing to the supportive economic and political scenario in the region, which is expected to shape the automotive OEM coating additives market in the coming decades.
The market in the Middle East & Africa is expected to grow at a sluggish growth rate in the global automotive OEM coating additives market. However, a significant shift towards luxurious vehicles is paving the way for the growth of the automotive OEM coating additives market for the coming ten years.
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Some of the market participants in the automotive OEM coating additives market identified across the value chain:
The research report on the automotive OEM coating additives market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The report also contains projections using a suitable set of assumptions and methodologies. The global automotive OEM coating additives market research report provides analysis and information according to market segments such as geography, resin type, technology, coating layer type, application, and sales channel.
The global automotive OEM coating additives market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and participants across the value chain.
The automotive OEM coating additives report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
