Market Size of Morocco Automotive OEM Coatings Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 80.97 Million |
| Market Size (2029) | USD 118.48 Million |
| CAGR (2024 - 2029) | 7.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Morocco Automotive OEM Coatings Market Analysis
The Morocco Automotive OEM Coatings Market size is estimated at USD 80.97 million in 2024, and is expected to reach USD 118.48 million by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).
The COVID-19 pandemic had negatively affected the market for automotive OEM coatings in Morocco. The implementation of a nationwide lockdown in the country mainly affected the automotive manufacturing industry, thereby affecting the market for automotive OEM coatings. However, post-COVID pandemic, the automotive industries resumed their operations, thereby creating a positive impact on the demand for automotive OEM coatings in the country.
The increase in the production of automotive vehicles and growth in electric vehicle manufacturing are expected to drive the market.
On the flip side, the fluctuations in the prices of raw materials and the stringent VOC regulations set by the governing bodies are expected to restrain the market for OEM coatings.
The emerging technologies to lower VOC coatings used in automotive vehicles are expected to create opportunities for the market during the forecast period.
Morocco Automotive OEM Coatings Industry Segmentation
Automotive OEM coatings are applied to the surface of vehicles for surface protection and to improve the vehicle's aesthetic look. 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 Morocco Automotive OEM Coatings Market Report is Segmented by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, and Other Resins), Layer (E-Coat, Primer, Base Coat, and Clear Coat), Technology (Water-borne, Solvent-borne, Electrocoats, and Powder Coatings) and Application (Passenger Vehicles, Commercial Vehicles, and ACE). The Report Offers Market Size and Forecasts in Terms of Revenue (in USD) for all the Above Segments.
| Resin | |
| Acrylic | |
| Alkyd | |
| Epoxy | |
| Polyurethane | |
| Polyester | |
| Other Resins (Phenolic, Polyvinyl Acetate, etc.) |
| Layer | |
| E-Coat | |
| Pirmer | |
| Base Coat | |
| Clear Coat |
| Technology | |
| Water-Borne | |
| Solvent-Borne | |
| Electrocoats | |
| Powder Coatings |
| Application | |
| Passenger Vehicles | |
| Commercial Vehicles | |
| ACE |
Morocco Automotive OEM Coatings Market Size Summary
The Morocco Automotive OEM Coatings Market is poised for significant growth, driven by the increasing production of automotive vehicles and the rise in electric vehicle manufacturing. The market, which experienced setbacks due to the COVID-19 pandemic, has rebounded as automotive industries resumed operations, positively impacting the demand for OEM coatings. However, challenges such as fluctuating raw material prices and stringent VOC regulations pose potential restraints. Despite these challenges, emerging technologies aimed at reducing VOC emissions present opportunities for market expansion. Epoxy resins, known for their chemical properties like adhesion to metals and heat resistance, play a crucial role in protecting car bodywork and are expected to see substantial growth in the market.
Morocco's automotive industry is a key driver of the OEM coatings market, with the country becoming a major exporter of vehicles in the Middle-East and African region. The production of passenger vehicles dominates the market, with significant contributions from OEM manufacturers like Renault, Peugeot, and Volkswagen. The passenger vehicle segment is expected to maintain its dominance, supported by investments such as Stellantis NV's substantial investment to boost production capacity. The market is consolidated, with major players like Akzo Nobel NV, Axalta Coating Systems, BASF SE, PPG Industries Inc., and Nippon Paint Holdings Co. Ltd. playing significant roles in shaping the industry's landscape.
Morocco Automotive OEM Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increase in the Production of Automotive Vehicles
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1.1.2 Growth in the Electric Vehicle Manufacturing
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Fluctuations in the Prices of Raw materials
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin
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2.1.1 Acrylic
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2.1.2 Alkyd
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2.1.3 Epoxy
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2.1.4 Polyurethane
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2.1.5 Polyester
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2.1.6 Other Resins (Phenolic, Polyvinyl Acetate, etc.)
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2.2 Layer
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2.2.1 E-Coat
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2.2.2 Pirmer
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2.2.3 Base Coat
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2.2.4 Clear Coat
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2.3 Technology
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2.3.1 Water-Borne
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2.3.2 Solvent-Borne
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2.3.3 Electrocoats
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2.3.4 Powder Coatings
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2.4 Application
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2.4.1 Passenger Vehicles
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2.4.2 Commercial Vehicles
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2.4.3 ACE
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Morocco Automotive OEM Coatings Market Size FAQs
How big is the Morocco Automotive OEM Coatings Market?
The Morocco Automotive OEM Coatings Market size is expected to reach USD 80.97 million in 2024 and grow at a CAGR of greater than 7% to reach USD 118.48 million by 2029.
What is the current Morocco Automotive OEM Coatings Market size?
In 2024, the Morocco Automotive OEM Coatings Market size is expected to reach USD 80.97 million.
