Automotive Oem Coatings Market in APAC Size to grow by USD 700 million between 2024-2028
According to a research report “ Automotive Oem Coatings Market in APAC” by Technology (Water-borne, Solvent-borne, Powdered coatings, UV-cured) Vehicle Type (Passenger cars, Light commercial vehicles, Heavy commercial vehicles) Geography (APAC)- Global Forecast to 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. In the APAC automotive industry, there is a growing emphasis on reducing carbon dioxide emissions from automobiles due to increasing regulations such as the Kyoto protocol. To meet these stricter emission norms, there is a rising demand for lightweight materials like plastics in paints. The application of plastic-based automotive OEM coatings in automobile components can help achieve the necessary emission requirements and enhance vehicular efficiency. These low-density coatings contribute significantly to weight reduction, a crucial factor in the automotive sector. The implementation of such coatings not only ensures compliance with emission regulations but also enhances the overall performance of vehicles..
Browse market data tables, figures, and in-depth TOC on “Automotive Oem Coatings Market in APAC” by Technology (Water-borne, Solvent-borne, Powdered coatings, UV-cured) Vehicle Type (Passenger cars, Light commercial vehicles, Heavy commercial vehicles) Geography (APAC) Global Forecast to 2028. Download Free Sample
By Technology, the Water-borne segment is projected to dominate the market size in 2024
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.
By Vehicle Type, Passenger cars segment is expected to hold the largest market size for the year 2024
In the Automotive OEM Coatings Market in APAC, the passenger cars segment holds the largest market share based on vehicle type. This segment's significant growth potential stems from the expanding automotive industry, particularly in the small vehicle segment. The increasing population and rising disposable income in emerging countries, such as India, which is projected to reach 72 vehicles per 1,000 people penetration rates by 2025, present lucrative opportunities for Original Equipment Manufacturers (OEMs) to enhance their sales in the region. The passenger cars segment's growth is expected to significantly contribute to the market expansion during the forecast period.
APAC is forecasted to hold the largest market size by region in 2024
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.
The Automotive Oem Coatings Market in APAC growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
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.
Market Research Overview
The Automotive OEM Coatings Market in APAC is a significant and dynamic industry, encompassing a range of products including Lacquers, Enamels, Varnishes, and Paints. Key players in this market include Lubrizol, known for their High Solid Coatings and UV Cured systems. Two-Wheeler and Passenger Car segments dominate the market, with Alkyd, Epoxy, Acrylic, and Polyurethane being popular choices for Primer, Basecoat, and Clearcoat applications. E-Coat primers, such as Hempaprime Shield 700 HS, are gaining popularity due to their environmental benefits. In the EU, New Passenger Cars are required to comply with stringent regulations, leading to increased demand for waterborne coatings and reduced reliance on solvent-borne coatings. Environmental concerns and the push for Energy-Efficient Transportation have led to the growth of UV-curable coatings, particularly in the Clearcoat category. Macroeconomic growth in APAC, driven by the Upper-middle-class and Middle-class, is fueling demand for Luxury Automotive and Commercial Utility Vehicles. Coating manufacturers are focusing on Specialty products, such as Nanocoatings and UV-curable coatings, to cater to the diverse needs of the industry. However, challenges such as Paint sludge, Wastewater, Film thickness, and VOCs remain, necessitating continuous innovation and vendor selection based on sustainability and efficiency. Plastic parts and Metal parts in the Automotive industry require different coating solutions. Acrythane 4G, for instance, is a popular choice for Plastic parts, while Epoxy Primer is preferred for Metal parts. The market is expected to continue its growth trajectory, driven by increasing Motor Vehicle Registrations and the sun's relentless UV rays.
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