Automotive OEM Interior Coatings Market Size (2024 - 2029)

Automotive OEM Interior Coatings Market Analysis

The automotive OEM interior coatings market was valued at USD 2580 million in 2020 and the market is projected to register a CAGR of over 2.5% during the forecast period (2021-2026).

The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in the automotive industry, which is likely to affect the OEM interior coatings market. The supply of many components from China has been delayed. This has resulted in the automotive industry, globally, running out of materials for production. According to OICA, the global production of automotive fell by around 16% in the year 2020, compared to 2019. Many OEMs shut down the majority of their European production, which includes leading German manufacturers shutting down the majority of their manufacturing units in Europe with other OEMs closing for a longer time. With automotive production slowing down and the COVID-19 pandemic further worsening the situation for the industry, the market for OEM automotive interior coatings is negatively affected in the short-/mid-term with a sluggish recovery rate during the latter part of the forecast period.

• Over the long term, the major factor driving the market studied is the preference for personal transport owing to the pandemic crisis. The consumer preference for personal transport has grown over the recent years due to better development of roads and infrastructure, startup innovations in the car rental industry, and availability of low-cost cars that are affordable for the middle-class people.
• Rise in investment opportunities in the Middle East and Africa and upcoming demand for electric vehicles are likely to act as opportunities in the future.
• Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China, India, Japan, and South Korea.

Automotive OEM Interior Coatings Industry Segmentation

The automotive OEM paints and coatings can be classified as water-based or solvent-based, depending on the drying technique employed. Water-based coatings contain water as a volatile compound and solvent-based coatings contain volatile compounds like benzene. The market is segmented by resin, layers, vehicle type, and geography. By resin, the market is segmented into epoxy, polyurethane, acrylic, and other resins. By layer, the market is segmented into primer, base coat, and clear coat. By vehicle type, the market is segmented into, passenger cars, light commercial vehicles, heavy commercial vehicles, and other vehicle types. The report also covers the market size and forecasts for the automotive OEM interior coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).