Automotive OEM Coatings Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2030-Growth in the production of vehicles and rapid development of transportation infrastructure are expected to drive the growth of the automotive OEM coatings market.The automotive OEM coatings market was valued at around USD 7.93 billion in 2019, and is expected to reach USD 13.12 billion by 2030, with a CAGR of 4.6% during the forecast period.Automotive coatings are used to cover the surface of automobiles and to represent the innovative technologies capable of maximizing overall efficiency, manufacturing durable surfaces, alongside meeting all the environmental norms.
Automotive coatings also help in enhancing the overall appearance and durability of a vehicle and also safeguard it from extreme temperatures, foreign particles, and UV radiations.
These coatings help protect the underlying synthetic body or metal panels from harsh environments.
But with the introduction of many environmental norms, use of lethal chemicals has been prohibited, which has resulted in a switch to water-based coatings.Request Free Sample Copy at https://www.nextmsc.com/automotive-oem-coatings-market/request-sampleThe global market for automotive OEM coatings market is segmented into type, layer, vehicle type, and region.
On the basis of vehicle type, the market is divided into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV), and others (Motorbikes).Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and RoW, with further bifurcation into major countries such as the the U.S., the U.K., France, and others.Growth in the production of automobiles especially in the emerging countries such as India, China, Brazil, South Korea, Mexico, and Africa due to growth in population and rise in disposable income boosts the market growth.
Besides, budding necessity of automotive refinish due to vehicle repair and maintenance is further stimulating the demand for coatings and paints globally.
