OEM Coatings Market Leaders & Revenue Pockets

Market Leaders

The OEM coatings market is projected to reach USD 69.28 billion by 2022, at a CAGR of 4.7% from 2017 to 2022. The growth of the OEM coatings market can be attributed to increased demand for OEM coatings from various end-use industries, such as transportation, consumer products, and heavy equipment & machinery, among others.

Download PDF Brochure of this Report at http://www.marketsandmarkets.com/pdfdownload.asp?id=36593030

The strategy of new product launches was the key strategy adopted by the leading players to strengthen their position in the OEM coatings market. The growth of the OEM coatings market can be attributed to increased demand for protective and decorative coatings for OEM parts from various end-use industries. New product launches, expansions, and mergers & acquisitions are the key growth strategies undertaken by the market players to enhance their position in the OEM coatings market. The leading players operating in this market are also focusing on joint ventures and partnerships to increase their market shares.

Major manufacturers of OEM coatings, which include PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems Ltd. (U.S.), Jotun (Norway), BASF SE (Germany), Nippon Paints Holdings Co., Ltd. (Japan), 3M Company (U.S.), and Kansai Paints Co., Ltd. (Japan) have been profiled in this report on the OEM coatings market. These companies have adopted both, organic and inorganic growth strategies to strengthen their position in the OEM coatings market.

PPG Industries, Inc. (U.S.) is the most active player in the OEM coatings market. It develops various types of OEM coatings to cater to the different requirements of different end-use industries. The company has adopted the strategies of mergers & acquisitions, expansions, and new product launches to enhance its position in the market. As a part of its strategy, PPG Industries, Inc. has expanded its reach to various countries, such as China, Mexico, Spain, Brazil, and Germany to distribute and promote sales of its products.

Akzo Nobel N.V. (Netherlands) is another company that has established a strong foothold in the OEM coatings market. The company has adopted the strategies of expansions, partnerships, and mergers & acquisitions to facilitate the availability of OEM coatings manufactured by the company in the emerging economies. The company has increased its reach to countries, such as the U.K., China, India, the U.S., and Sweden, among others. In December 2016, Akzo Nobel N.V. (Netherlands) acquired the global industrial coatings business of BASF SE (Germany) to supply a range of products for various industries, such as construction, domestic appliances, wind energy, and commercial transport.

Revenue Pockets

The OEM coatings market is projected to reach USD 69.28 billion by 2022, at a CAGR of 4.7% from 2017 to 2022. The major driver for the growth of the OEM coatings market across the globe includes the high growth of the global automotive industry, along with increasing number of technological advancements taking place in the field of OEM coatings.

The major challenge for the growth of the OEM coatings market is the stringent implementation of various regulations regarding the amount of volatile organic compounds (VOCs) present in OEM coatings. Hence, powder coatings and water-borne coatings are being adopted by various end-use industries across the globe to comply with the environmental regulations and to reduce the effect of volatile organic compounds (VOCs) on the environment.

The Asia-Pacific region is the leading market for OEM coatings, in terms of value and volume. Countries, such as the China, India, Japan, and South Korea, among others of the Asia-Pacific region are witnessing a gradual increase in the use of OEM coatings in various end-use industries, such as transportation, consumer products, and heavy equipment & machinery, among others. The Asia-Pacific OEM coatings market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The growth of the Asia-Pacific OEM coatings market can be attributed to the high demand for OEM coatings from the automotive and consumer products industries of the region. Moreover, the increase in the number of automobiles in the region is also driving the growth of the Asia-Pacific OEM coatings market.

China is leading the Asia-Pacific OEM coatings market. The growth of the Asia-Pacific OEM coatings market is due to increase in the use of OEM coatings in various end-use industries, such as transportation, consumer products, and heavy equipment & machinery, among others. The growth of the consumer products industry is expected to drive the growth of the OEM coatings market in China and India during the forecast period. The increased use of OEM coatings in packaging and furniture & fixture applications in the consumer products industry is also contributing towards the growth of the Asia-Pacific OEM coatings market.

The powder coatings segment is the largest segment of the OEM coatings market. This segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of the powder coatings segment of the OEM coatings market can be attributed to the eco-friendly nature of powder coatings as they emit minimal to negligible volatile organic compounds (VOCs) into the environment. These coatings are cost-effective and durable and can be used for various applications.

PPG Industries, Inc. (U.S.), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and Axalta Coating Systems Ltd. (U.S.), among others, are the leading players in the OEM coatings market.