Market Size of United States Automotive OEM Coatings Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
US Automotive OEM Coatings Market Analysis
The US automotive OEM coatings market is expected to reach USD 1400 million by the end of this year. It is projected to register a CAGR greater than 4.5% 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 US 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, fuel-efficient OEM parts. Therefore, to reduce emissions, the growing demand for electric vehicles is expected to 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.
US Automotive OEM Coatings Industry Segmentation
OEM is the original manufacturer of the components of a vehicle. Automotive OEM coatings are used during the manufacture of automotive vehicles' body parts. The US 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 Type |
| Technology | |
| Water-borne | |
| Solvent-borne | |
| Other Technologies |
| Application | |
| Passenger Cars | |
| Commercial Vehicles | |
| ACE |
United States Automotive OEM Coatings Market Size Summary
The United States 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. The push for lightweight and fuel-efficient OEM parts, in response to stricter fuel-efficiency regulations, is anticipated to boost demand. Additionally, the growing shift towards electric vehicles presents significant opportunities for market expansion. However, challenges such as supply chain disruptions, particularly semiconductor shortages, have posed obstacles to growth. The government's initiatives, including substantial investments in electric vehicle infrastructure and semiconductor production, are expected to support the industry's recovery and growth.
The market is characterized by a transition from solvent-borne to water-based coatings, driven by stringent environmental regulations and the need for sustainable solutions. Water-based coatings are gaining traction due to their favorable physical and chemical properties, such as high chemical resistance and solvent-free formulations. This shift is supported by ongoing developments in water-based technology, which aim to match the performance of traditional solvent-based coatings. The market is consolidated, with key players like RPM International Inc, AkzoNobel NV, Axalta Coatings Systems, BASF SE, and PPG Industries Inc. playing significant roles. These companies are actively involved in advancing coating technologies to meet the evolving demands of the automotive OEM sector.
United States Automotive OEM Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Government Initiatives to Support Market Growth
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1.3 Market Restraints
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1.3.1 Ongoing Shortage of Semiconductors
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1.3.2 Other Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porters 5 Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Epoxy
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2.1.2 Acrylic
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2.1.3 Alkyd
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2.1.4 Polyurethane
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2.1.5 Polyester
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2.1.6 Other Resin Type
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2.2 Technology
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2.2.1 Water-borne
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2.2.2 Solvent-borne
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2.2.3 Other Technologies
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2.3 Application
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2.3.1 Passenger Cars
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2.3.2 Commercial Vehicles
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2.3.3 ACE
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United States Automotive OEM Coatings Market Size FAQs
What is the current United States Automotive OEM Coatings Market size?
The United States Automotive OEM Coatings Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in United States Automotive OEM Coatings Market?
RPM International Inc, AkzoNobel NV, Axalta Coatings Systems, BASF SE and PPG Industries Inc. are the major companies operating in the United States Automotive OEM Coatings Market.
