ASEAN Automotive OEM Coatings Market Size (2024 - 2029)

The ASEAN Automotive OEM Coatings market is experiencing growth, having recovered from the COVID-19 impact and returning to pre-pandemic levels. The market size is expected to expand steadily, driven by the increasing demand for passenger cars and electronic vehicles. However, challenges such as semiconductor shortages may hinder the demand for automotive OEM coatings. Within the region, Indonesia stands out as a significant player in passenger car manufacturing, contributing to the market's expansion.

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Market Size of ASEAN Automotive OEM Coatings Industry

ASEAN Automotive OEM Coatings Market Summary
Study Period 2024 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period
CAGR 8.61 %
Market Concentration Medium

Major Players

ASEAN Automotive OEM Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

ASEAN Automotive OEM Coatings Market Analysis

The ASEAN Automotive OEM Coatings market is expected to reach around USD 620 million by the end of this year and is projected to register a CAGR of over 8.61 % during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached its pre-pandemic levels and is forecasted to grow steadily.

  • The Increasing Demand for Passenger Cars is anticipated to be one of the major factors driving the growth of the Automotive OEM coatings market.
  • On the flip side, shortages of semiconductors and other components are likely to negatively affect the demand for Auto OEM coatings consumption in the region.
  • The Market expansion is anticipated to be supported by Increasing Demand for Electronic Vehicles
  • In the End-User segment, the Passenger Cars segment is expected to dominate the country's automotive OEM coatings market.
  • In ASEAN, Indonesia is one of Southeast Asia's largest passenger car manufacturing nations.

ASEAN Automotive OEM Coatings Industry Segmentation

The ASEAN Automotive OEM coatings are used to manufacture automotive vehicles' body parts. The market is segmented by Resin Type, Technology, and End-User Industry. By Resin, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resins. Technology segments the market into water-borne, solvent-borne, and other coating technologies. End-User Industry segments the market into Passenger Cars, Commercial Vehicles, and ACE. By Geography (Indonesia, Malaysia, Thailand, Philippines, Singapore, and the Rest of ASEAN). For each segment, the market sizing and forecasts have been done based on revenue. (USD million)

Resin Type
Epoxy
Acrylic
Alkyd
Polyurethane
Polyester
Other Resin Type
Technology
Water-borne
Solvent-borne
Others
End-user Industry
Passenger Cars
Commercial Vehicles
ACE
Geography
Indonesia
Malaysia
Thailand
Philippines
Singapore
Rest of ASEAN
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ASEAN Automotive OEM Coatings Market Size Summary

The ASEAN Automotive OEM Coatings market is poised for steady growth, driven by the increasing demand for passenger cars and the rising interest in electric vehicles. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19, with Indonesia playing a pivotal role as one of Southeast Asia's largest passenger car manufacturing nations. The country's automotive industry, significantly influenced by foreign direct investment, particularly from Japan, is expanding due to factors like low car ownership rates, affordable labor costs, and a burgeoning middle class. This expansion is expected to boost the consumption of automotive OEM coatings, despite challenges such as semiconductor shortages.

The market is characterized by a shift towards waterborne technology, driven by stringent environmental regulations on VOC emissions from solvent-borne coatings. Water-based coatings are gaining traction due to their favorable physical and chemical properties, such as high chemical resistance and solvent-free formulations. This transition is anticipated to enhance the market's growth trajectory. The ASEAN Automotive OEM Coatings market is consolidated, with major players like Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., PPG Industries Inc., and Kansai Paint Co. Ltd. holding significant market shares. These companies are actively involved in developments that shape the market landscape.

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ASEAN Automotive OEM Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rising Demand for Passenger Cars.

      2. 1.1.2 Other Drivers

    2. 1.2 Market Restraints

      1. 1.2.1 Ongoing Shortage of Semiconductors

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Acrylic

      3. 2.1.3 Alkyd

      4. 2.1.4 Polyurethane

      5. 2.1.5 Polyester

      6. 2.1.6 Other Resin Type

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Others

    3. 2.3 End-user Industry

      1. 2.3.1 Passenger Cars

      2. 2.3.2 Commercial Vehicles

      3. 2.3.3 ACE

    4. 2.4 Geography

      1. 2.4.1 Indonesia

      2. 2.4.2 Malaysia

      3. 2.4.3 Thailand

      4. 2.4.4 Philippines

      5. 2.4.5 Singapore

      6. 2.4.6 Rest of ASEAN

ASEAN Automotive OEM Coatings Market Size FAQs

The ASEAN Automotive OEM Coatings Market is projected to register a CAGR of greater than 8.61% during the forecast period (2024-2029)

Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., PPG Industries Inc. and Kansai Paint CO. Ltd are the major companies operating in the ASEAN Automotive OEM Coatings Market.

ASEAN Automotive OEM Coatings Report Snapshots

ASEAN Automotive OEM Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)