Japan Automotive OEM Coatings Market Size (2024 - 2029)

The Japan Automotive OEM Coatings Market is experiencing a steady recovery and growth, having returned to pre-pandemic levels. The market's expansion is driven by the increasing demand for electric and hybrid vehicles, although challenges such as semiconductor shortages may hinder the consumption of automotive OEM coatings. Additionally, the emergence of bio-based coatings presents new opportunities for the market, contributing to its positive outlook during the forecast period.

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Market Size of Japan Automotive OEM Coatings Industry

Japan Automotive OEM Coatings Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.50 %
Market Concentration High

Major Players

Japan Automotive OEM Coatings Market - Market Major Players

*Disclaimer: Major Players sorted in no particular order

Japan Automotive OEM Coatings Market Analysis

The Japan Automotive OEM Coatings Market was valued at USD 900 million by the end of this year. The market is projected to register a CAGR of 4.5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.

  • The driving factors that tend to the market growth include rising demand for electric and hybrid vehicles.
  • On the flip side, shortages of semiconductors and other components are likely to negatively affect the demand for Auto OEM coatings consumption in the country.
  • The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.

Japan Automotive OEM Coatings Industry Segmentation

OEM is the original manufacturer of the components of a vehicle. 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. By technology, the market is segmented into water-borne, solvent-borne, and other coating technologies. End-User Industry segments the market into passenger cars, commercial vehicles, and ACE. 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
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Japan Automotive OEM Coatings Market Size Summary

The Japan Automotive OEM Coatings Market is experiencing a steady recovery and growth trajectory, having rebounded to pre-pandemic levels. This market is driven by the increasing demand for electric and hybrid vehicles, spurred by a high concentration of EV manufacturers and heightened environmental awareness. The Japanese automotive sector, dominated by major domestic players like Toyota, Nissan, and Honda, is witnessing a significant push towards environmentally friendly vehicles, supported by government initiatives aiming for all new cars to be eco-friendly by 2035. This shift is expected to bolster the demand for automotive OEM coatings, despite challenges such as semiconductor shortages impacting component availability.

The market landscape is characterized by a transition from solvent-borne to water-based coatings, driven by stringent environmental regulations on VOC emissions. Water-based coatings are gaining traction due to their favorable physical and chemical properties, such as high chemical resistance and solvent-free formulations. The market is consolidated, with key players like Axalta Coating Systems, BASF SE, and Nippon Paint Holdings Co., Ltd. holding significant shares. These companies are adapting to the evolving regulatory environment and technological advancements, which are anticipated to shape the market dynamics over the forecast period.

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Japan 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 Increasing Demand for Electric and Hybrid Vehicles

      2. 1.2.2 Other Drivers

    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 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

Japan Automotive OEM Coatings Market Size FAQs

The Japan Automotive OEM Coatings Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

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

Japan Automotive OEM Coatings Report Snapshots

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