Product Code: 20632
Global OEM Coatings Market was valued at USD 75.33 Billion in 2024 and is anticipated to project robust growth in the forecast period with a CAGR of 4.80% through 2030. OEM coatings play a crucial role in the manufacturing process of a wide range of equipment and machinery, spanning industries such as automotive, aerospace, and industrial machinery. These coatings are specifically designed to enhance the durability, corrosion resistance, and overall appearance of the products they are applied to.
Market Overview |
Forecast Period | 2026-2030 |
Market Size 2024 | USD 75.33 Billion |
Market Size 2030 | USD 100.03 Billion |
CAGR 2025-2030 | 4.80% |
Fastest Growing Segment | Water-borne Coatings |
Largest Market | Asia Pacific |
The growth of the OEM coatings market has been significantly driven by the rapid expansion of the transportation industry, particularly in the automotive sector. According to the World Bank, the global transport market is valued at USD4.2 trillion, representing 6.8% of the world's GDP. Much like the broader global economy, the transport sector has evolved into a highly complex, interdependent, and technology-driven industry. It remains a major consumer of energy and natural resources, underscoring its critical role in global economic activity. With the increasing demand for vehicles worldwide, coupled with the shift towards electric and hybrid vehicles, the demand for OEM coatings has witnessed a substantial rise.
Key Market Drivers
Growth in Automotive Industry
The automotive industry has long been a significant end-user of Original Equipment Manufacturer (OEM) coatings. These coatings play a crucial role in enhancing a vehicle's durability, corrosion resistance, and overall appearance. As the automotive industry continues to experience robust growth, the demand for high-quality OEM coatings has also surged. Preliminary estimates indicate that the automobile industry recorded sales of approximately 4.3 million vehicles in 2024, reflecting a growth of nearly 5% from the 4.11 million units sold in 2023. This expansion was primarily fueled by the strong demand for SUVs, which accounted for 54% of total sales. While some automakers view this growth rate as a positive sign, particularly given the high sales base of previous years, others remain cautious, anticipating continued challenges in the year
Key Market Challenges
Volatility in Price of Raw Materials
The fluctuating prices of raw materials have a direct and significant impact on the production costs of OEM coatings. These coatings, widely used in various industries including automotive, construction, and electronics, rely on key components such as resins, pigments, and solvents. However, the prices of these components often experience sudden and unpredictable changes due to various factors.
Supply chain disruptions, caused by natural disasters or geopolitical tensions, can disrupt the availability and distribution of raw materials. Additionally, changes in commodity markets, influenced by global economic conditions and trade policies, can also contribute to price fluctuations. These factors collectively create a volatile environment for manufacturers, making it challenging to maintain stable production costs.
Key Market Trends
Growing Shift Towards High-Performance Coatings
High-performance coatings offer a wide range of benefits that are highly sought after by various industries, including the automotive, aerospace, and industrial equipment sectors. These coatings are meticulously designed to provide exceptional durability, superior corrosion resistance, and an appealing aesthetic, all of which are indispensable in these industries.
In today's competitive market, consumers have become increasingly discerning, demanding vehicles that not only excel in functionality but also captivate with their visual appeal. This is where high-performance coatings come into play. These coatings not only enhance a vehicle's appearance but also safeguard it against harsh environmental conditions, effectively prolonging its lifespan.
Key Market Players
- The Lubrizol Corporation
- BASF SE
- Kao Corporation
- PPG Industries, Inc.
- Hempel A/S
- Jotun A/S
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Nippon Paint Holdings Co., Ltd
- Allnex GMBH
Report Scope:
In this report, the Global OEM Coatings Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
OEM Coatings Market, By Type:
- Powder Coatings
- Water-borne Coatings
- Solvent-borne Coatings
- Radiation Curable Coatings
OEM Coatings Market, By Application:
- Transportation
- Consumer Products
- Heavy Equipment
- Machinery
OEM Coatings Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global OEM Coatings Market.
Available Customizations:
Global OEM Coatings Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Executive Summary
- 3.1. Overview of the Market
- 3.2. Overview of Key Market Segmentations
- 3.3. Overview of Key Market Players
- 3.4. Overview of Key Regions/Countries
- 3.5. Overview of Market Drivers, Challenges, Trends
4. Impact of COVID-19 on Global OEM Coatings Market
5. Global OEM Coatings Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Type (Powder Coatings, Water-borne Coatings, Solvent-borne Coatings, Radiation Curable Coatings)
- 5.2.2. By Application (Transportation, Consumer Products, Heavy Equipment, Machinery)
- 5.2.3. By Region
- 5.2.4. By Company (2024)
- 5.3. Market Map
6. Asia Pacific OEM Coatings Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Country
- 6.3. Asia Pacific: Country Analysis
- 6.3.1. China OEM Coatings Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.2. Market Share & Forecast
- 6.3.1.2.1. By Type
- 6.3.1.2.2. By Application
- 6.3.2. India OEM Coatings Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Type
- 6.3.2.2.2. By Application
- 6.3.3. Australia OEM Coatings Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Type
- 6.3.3.2.2. By Application
- 6.3.4. Japan OEM Coatings Market Outlook
- 6.3.4.1. Market Size & Forecast
- 6.3.4.2. Market Share & Forecast
- 6.3.4.2.1. By Type
- 6.3.4.2.2. By Application
- 6.3.5. South Korea OEM Coatings Market Outlook
- 6.3.5.1. Market Size & Forecast
- 6.3.5.2. Market Share & Forecast
- 6.3.5.2.1. By Type
- 6.3.5.2.2. By Application
7. Europe OEM Coatings Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Country
- 7.3. Europe: Country Analysis
- 7.3.1. France OEM Coatings Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Type
- 7.3.1.2.2. By Application
- 7.3.2. Germany OEM Coatings Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Type
- 7.3.2.2.2. By Application
- 7.3.3. Spain OEM Coatings Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Type
- 7.3.3.2.2. By Application
- 7.3.4. Italy OEM Coatings Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Type
- 7.3.4.2.2. By Application
- 7.3.5. United Kingdom OEM Coatings Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Type
- 7.3.5.2.2. By Application
8. North America OEM Coatings Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Country
- 8.3. North America: Country Analysis
- 8.3.1. United States OEM Coatings Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Type
- 8.3.1.2.2. By Application
- 8.3.2. Mexico OEM Coatings Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Type
- 8.3.2.2.2. By Application
- 8.3.3. Canada OEM Coatings Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Type
- 8.3.3.2.2. By Application
9. South America OEM Coatings Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Application
- 9.2.3. By Country
- 9.3. South America: Country Analysis
- 9.3.1. Brazil OEM Coatings Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Type
- 9.3.1.2.2. By Application
- 9.3.2. Argentina OEM Coatings Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Type
- 9.3.2.2.2. By Application
- 9.3.3. Colombia OEM Coatings Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Type
- 9.3.3.2.2. By Application
10. Middle East and Africa OEM Coatings Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Application
- 10.2.3. By Country
- 10.3. MEA: Country Analysis
- 10.3.1. South Africa OEM Coatings Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Type
- 10.3.1.2.2. By Application
- 10.3.2. Saudi Arabia OEM Coatings Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Type
- 10.3.2.2.2. By Application
- 10.3.3. UAE OEM Coatings Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Type
- 10.3.3.2.2. By Application
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
- 12.1. Recent Developments
- 12.2. Product Launches
- 12.3. Mergers & Acquisitions
13. Global OEM Coatings Market: SWOT Analysis
14. Porter's Five Forces Analysis
- 14.1. Competition in the Industry
- 14.2. Potential of New Entrants
- 14.3. Power of Suppliers
- 14.4. Power of Customers
- 14.5. Threat of Substitute Product
15. PESTLE Analysis
16. Competitive Landscape
- 16. 16.1. The Lubrizol Corporation
- 16.1.1. Business Overview
- 16.1.2. Product & Service Offerings
- 16.1.3. Recent Developments
- 16.1.4. Financials (If Listed)
- 16.1.5. Key Personnel
- 16.1.6. SWOT Analysis
- 16.2. BASF SE
- 16.3. Kao Corporation
- 16.4. PPG Industries, Inc.
- 16.5. Hempel A/S
- 16.6. Jotun A/S
- 16.7. The Sherwin-Williams Company
- 16.8. Akzo Nobel N.V.
- 16.9. Nippon Paint Holdings Co., Ltd
- 16.10. Allnex GMBH
17. Strategic Recommendations
18. About Us & Disclaimer