The Automotive Oem Coatings Market in APAC is segmented by Technology (Water-borne, Solvent-borne, Powdered coatings, and UV-cured), Vehicle Type (Passenger cars, Light commercial vehicles, and Heavy commercial vehicles), and Geography (APAC). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 700 million, at a CAGR of 3.2% during the forecast period. There are several companies that are contributing to the market as per this report. Growing adoption of UV-curable coatings and nanocoatings.
Waterborne coatings, utilized extensively in the automotive OEM sector in APAC, are characterized by their high water content as a solvent, which disperses resins. Glycol ethers are included in minimal quantities to facilitate application. Waterborne technology's eco-friendliness derives from its reduced solvent usage and faster application. However, waterborne coatings' water evaporation process is slower than solvent-borne coatings due to environmental conditions. Although waterborne coatings may release minimal harmful fumes when combined with reducers, their emission levels are significantly lower than those of solvent-borne coatings.
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The Automotive OEM Coatings market in APAC is experiencing significant growth due to increasing vehicle production and rising demand for advanced coating technologies. Key players in this market are investing in research and development to offer innovative solutions, such as waterborne and powder coatings, to meet stringent environmental regulations. Additionally, the region's expanding automotive industry and favorable economic conditions are fueling market expansion.
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The Automotive Original Equipment Manufacturers (OEM) coatings market in the APAC region is a significant and growing sector, driven by key players like Lubrizol. This market caters to various segments, including two-wheelers and passenger cars. Coating types include High Solid Coatings, Solvent-Borne (Alkyd, Epoxy, Acrylic, Polyurethane), and UV Cured (E-Coat, Primer, Basecoat, Clearcoat, Epoxy Primer) systems. Film thickness, VOCs, and environmental regulations influence the choice between Liquid coatings and Powder coatings. Lubrizol offers a wide range of specialty products, including UV-curable coatings and Nanocoatings, to meet the diverse needs of automotive manufacturers. Vendor selection is crucial, and factors like technology, sustainability, and cost-effectiveness play a significant role. The APAC automotive OEM coatings market is witnessing a shift towards High Solid and UV-curable coatings due to their advantages in terms of reduced VOCs, faster curing times, and improved performance. Epoxy Primer, E-Coat, and Polyurethane are popular choices for their durability and corrosion resistance. Basecoats and Clearcoats are essential for achieving the desired color and finish. The market is expected to grow further due to increasing vehicle production and the continuous development of advanced coating technologies.
The Automotive OEM Coatings Market in APAC falls under the broader category of the commodity chemicals market, which encompasses businesses primarily engaged in the production of industrial and basic chemicals. This sector includes, but is not limited to, manufacturers of plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this market excludes chemical companies specializing in diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the global commodity chemicals market size is determined by the collective revenue generated by these manufacturers. Key growth drivers for this market include the escalating demand for plastic packaging, particularly in the APAC region, and the continuous innovation in the industry to produce lightweight, corrosion-resistant materials for automotive OEM coatings. The increasing adoption of these materials in the manufacturing of plastic packaging materials is a significant factor influencing market expansion. - The Automotive Oem Coatings Market in APAC is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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