Global OEM coatings market is expected to rise from its initial estimated value of USD 58.76 billion in 2018 to an estimated value of USD 83.43 billion by 2026, registering a CAGR of 4.48% in the forecast period of 2019-2026. OEM coatings can be described as the coatings which are used in the process/application on the substrate or material while integrating other companies’ products. These coatings are essentially used by the paint applying companies for surface curing and then the paint is applied on the particular substrate or metal, which is then sold forward.
Key Market Competitors: Global OEM Coatings Market
Few of the major competitors currently working in the OEM Coatings Market are PPG Industries Inc., Akzo Nobel N.V., Axalta Coating Systems LLC, The Sherwin-Williams Company, The Valspar Corporation, Jotun, 3M, BASF SE, Nippon Paint Holdings Co. Ltd., Kansai Paint Co.Ltd., Henkel AG & Co. KGaA, Berger Paints India Limited, Sika AG, National Paints Factories Co. Ltd., HEMPEL A/S, DAW SE, KCC CORPORATION, Chugoku Marine Paints Ltd., Beckers Group, Carboline Company, SK Kaken Co. Ltd., and SHAWCOR.
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Segmentation: Global OEM Coatings Market
- By Formulation (Powder Coatings, Water-Borne Coatings, Solvent-Borne Coatings, Radiation Curable Coatings)
- By End-User (Transportation, Consumer Products, Heavy Equipment & Machinery, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global OEM Coatings Market
Global OEM coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of OEM coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Market Drivers:
- Significant amount of demand from the automobile and transportation industry is expected to drive the market growth
- Developments & advancements in the market of OEM coatings is also expected to drive the market growth
Market Restraints:
- High amounts of VOC emissions during the production process and high amounts of VOC contents in the product is expected to restrain the market growth
- Regulations by the authorities regarding the VOC emissions have induced technological advancements, through which the need for coatings is declining due to the introduction of coating-free surfaces & substrates
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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