Canada Automotive OEM Coatings Market Size (2024 - 2029)

The Canadian automotive OEM coatings market is experiencing growth, having recovered from the negative impacts of COVID-19 and returning to pre-pandemic levels. This expansion is driven by technological advancements and shifts in automotive product offerings, alongside increasing demand for lightweight and fuel-efficient parts due to stricter government fuel-efficiency regulations. However, challenges such as supply chain issues, particularly semiconductor shortages, have been affecting growth.

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Market Size of Canada Automotive OEM Coatings Industry

Canada Automotive OEM Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration High

Major Players

Canada Automotive OEM Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Canada Automotive OEM Coatings Market Analysis

The Canadian automotive OEM coatings market is expected to reach USD 200 million by the end of this year. It is projected to register a CAGR of over 4% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • The Canadian automotive OEM market is estimated to grow during the forecast period owing to technological advancements and changes in automotive vehicle product offerings.
  • As governments implement stricter fuel-efficiency rules, there will be an increase in demand for lightweight and fuel-efficient OEM parts. The demand for light-weighted fuel-efficient parts may provide an opportunity to expand the market in the future.
  • On the other hand, supply chain issues such as the shortage of semiconductors have been hindering growth recently.

Canada Automotive OEM Coatings Industry Segmentation

OEM is the original manufacturer of the components of a vehicle. Automotive OEM coatings are used in manufacturing the body parts of automotive vehicles. 

The automotive OEM coatings market is segmented by resin type, application, and technology. By resin, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resins. By technology, the market is segmented into water-borne, solvent-borne, and other coating technologies. By application, the market is segmented into passenger cars, commercial vehicles, and ACE. For each segment, the market sizing and forecasts have been done on the basis of revenue. (USD million)

Resin Type
Epoxy
Acrylic
Alkyd
Polyurethane
Polyester
Other Resin Types
Technology
Water-borne
Solvent-borne
Other Technologies
Application
Passenger Cars
Commercial Vehicles
ACE
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Canada Automotive OEM Coatings Market Size Summary

The Canadian automotive OEM coatings market is poised for steady growth, driven by technological advancements and evolving automotive product offerings. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue expanding. This growth is supported by increasing demand for lightweight and fuel-efficient OEM parts, spurred by stricter government fuel-efficiency regulations. However, challenges such as semiconductor shortages have recently impeded progress. Government initiatives, including significant investments in retooling and supporting domestic EV production, are expected to bolster the automotive sector, further propelling the OEM coatings market in Canada.

The market is characterized by a shift towards water-based coatings, driven by stringent environmental regulations on VOC emissions from solvent-borne coatings. Water-based technologies are rapidly evolving, offering performance improvements that match their solvent-based counterparts. This transition is supported by developments in waterborne primers and coatings, which are gaining traction in the OEM market. The Canadian automotive OEM coatings market is consolidated, with key players like RPM International Inc., AkzoNobel NV, Axalta Coatings Systems, BASF SE, and PPG Industries Inc. leading the industry. Recent expansions, such as the opening of a new production facility by GBIE in Ontario, highlight the growing demand for water-based coating materials in North America.

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Canada Automotive OEM Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Government Initiatives to Support Market Growth

    3. 1.3 Market Restraints

      1. 1.3.1 Ongoing Shortage of Semiconductors

      2. 1.3.2 Other Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porters 5 Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  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 Types

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Other Technologies

    3. 2.3 Application

      1. 2.3.1 Passenger Cars

      2. 2.3.2 Commercial Vehicles

      3. 2.3.3 ACE

Canada Automotive OEM Coatings Market Size FAQs

The Canada Automotive OEM Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

BASF SE, RPM International Inc, AkzoNobel NV, Axalta Coatings Systems and PPG Industries Inc. are the major companies operating in the Canada Automotive OEM Coatings Market.

Canada Automotive OEM Coatings Report Snapshots

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