Morocco Automotive OEM Coatings Market Trends

Statistics for the 2023 & 2024 Morocco Automotive OEM Coatings market trends, created by Mordor Intelligence™ Industry Reports. Morocco Automotive OEM Coatings trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Morocco Automotive OEM Coatings Industry

The Epoxy Resins Segment to Register Significant Market Growth During the Forecast Period

  • Epoxy resins are one of the most commonly used resins in paints and coatings formulations. Epoxy resin and polyurethane hardener are two significant components of epoxy coating formulations. When mixed, the resin and hardener engage in a chemical reaction that creates cross-linking of the elements as it cures.
  • Epoxy coatings can be one-component or two-component. Single-component epoxy paints are commonly oil-based. Two-component epoxy coatings are mixed in situ in the proportions specified by their manufacturers and are well-suited for industrial coating applications.
  • Epoxy resins offer chemical properties, including adhesion to metals, mechanical strength, and heat resistance. These properties facilitate the protection of car bodywork from corrosion and other damages and, in some instances, double the lifetime of a car.
  • Epoxy resin is used as the first of five organic layers coating the metallic body of a car. Usually approximately 20μm thick, it has been estimated that two to eight kg of epoxy is needed per car to act as a primer for further layers to be placed on top of the epoxy coating.
  • The automotive production in the country witnessed double-digit growth in 2021 and 2022. In 2021, the production rose by 42%, and 15% in 2022. The country has become a major exporter of automotive vehicles in the Middle-East and African region, with a production and assembly capacity of 700,000 vehicles.
  • The exports of cars are increasing in Morocco. In 2022, the total export revenue of cars in the country was registered at USD 5.6 billion. And it is further expected to increase in the coming years. Thus, the growth of the automotive industry is expected to drive the country's market for epoxy resin-based OEM coatings.
  • In Morocco, the production of electric vehicles is increasing. According to the Moroccan minister for trade and industry, the production of electric vehicles in the country is expected to double in the upcoming two years. The country's electric car production is set to reach 100,000 units per year in the upcoming years.
  • Thus, the epoxy resin segment is expected to register a significant growth rate during the forecast period.
Morocco Automotive OEM Coatings Market: Automotive Production,  in Thousand Units, Morocco, 2018-2022

Passenger Vehicles Applications Segment to Dominate The Market

  • The demand for automotive OEM coatings is higher in passenger vehicles. In passenger cars, solvent-borne and water-borne coatings are used to coat polystyrene and ABS materials used in car interiors.
  • The OEM coatings are used to coat various interiors, such as center clusters, meter clusters, instrument panels, speaker grills, armrests and armrest bezels, steering wheels, door trims, and handles. The essential characteristics of these coatings are high gloss and a smooth finish.
  • Morocco is the largest manufacturer of automotive vehicles in the African region, followed by South Africa. The automotive industry is growing at a significant growth rate in the country. Several OEM manufacturers, such as Renault, Peugeot, and Volkswagen, have set up units in Morocco, and significant automotive manufacturers see Morocco as a cost-effective country.
  • The passenger vehicles segment occupies the majority of the share of the automotive market in the country. In Morocco, around 87% of the vehicles produced are passenger vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production volume of passenger vehicles reached 404.7 units in 2022, as compared to 338.3 thousand units manufactured in the previous year, at a growth rate of 20%. Thus, the increase in the production of passenger vehicles is expected to drive the market for OEM coatings in the country.
  • In November 2022, Stellantis NV announced an investment of USD 300 million in Morocco to increase the vehicle production capacity at its Kenitra plant. The investment will help increase the country's production capacity to 1 million vehicles per year by 2030.
  • Thus, the passenger vehicle application segment is expected to dominate the market during the forecast period.
Morocco Automotive OEM Coatings Market: Production of Passenger Vehicles, in Thousand Units, Morocco, 2018-2022

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