Automotive OEM Coating Additives Market: Introduction
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.
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Automotive OEM Coating Additives Market: Dynamics
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.
Automotive OEM Coating Additives Market: Segmentation
| By resin type |
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| By technology |
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| By coating layer type |
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| By application |
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| By sales channel |
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Automotive OEM Coating Additives Market: Regional Outlook
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.
Automotive OEM Coating Additives Market: Key Players
Some of the market participants in the automotive OEM coating additives market identified across the value chain:
- BASF Coatings GmbH
- HELIOS
- Berger Paints India Limited
- ALLNEX NETHERLANDS B.V.
- Axalta Coating Systems
- Sherwin-Williams
- PPG Industries, Inc.
- AkzoNobel
- Kansai Paint Co., Ltd
- Jotun A/S
- Nippon Paint Holdings Co., Ltd.
- KCC Corporation
- The Valspar Corporation
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