logo

Spain Automotive OEM Coatings Market Size (2024 - 2029)

The Spain Automotive OEM Coatings Market is experiencing a steady recovery and growth trajectory, having rebounded to pre-pandemic levels. The market's expansion is driven by the increasing demand for electric and hybrid vehicles, although it faces challenges due to stringent regulations on VOC limits and toxic substances in coatings. Nevertheless, the emergence of bio-based coatings presents new opportunities for the market, contributing to its positive outlook during the forecast period.

Home Market Analysis Chemicals & Materials Research Paints and Coatings Research Spain Automotive OEM Coatings Market Market Size

Market Size of Spain Automotive OEM Coatings Industry

Spain Automotive OEM Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 3.50 %
Market Concentration High

Major Players

Spain Automotive OEM Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Spain Automotive OEM Coatings Market Analysis

Spain Automotive OEM Coatings Market was valued at USD 200 million by the end of this year, and the market is projected to register a CAGR of 3.5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.

  • The driving factors that tend to the market growth include rising demand for electric and hybrid vehicles.
  • The stringent regulations regarding the VOC limits and other toxic substances in paints and coatings create hindrances in the market.
  • The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.

Spain Automotive OEM Coatings Industry Segmentation

OEM is the original manufacturer of the components of a vehicle. Automotive OEM coatings are used to manufacture automotive vehicles' body parts. The market is segmented by Resin Type, Technology, and End-User Industry. 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. End-User Industry segments the market into passenger cars, commercial vehicles, and ACE. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Resin Type
Epoxy
Acrylic
Alkyd
Polyurethane
Polyester
Other Resin Type
Technology
Water-borne
Solvent-borne
Others
Application
Passenger Cars
Commercial Vehicles
ACE
Need A Different Region Or Segment?
Customize Now

Spain Automotive OEM Coatings Market Size Summary

The Spain Automotive OEM Coatings Market is experiencing a steady growth trajectory, driven by the increasing demand for electric and hybrid vehicles. As one of Europe's leading markets for Hybrid Electric Vehicles, Spain has seen a significant rise in electric vehicle production, contributing to the market's expansion. The market, which faced challenges due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue growing. However, the market's growth is somewhat constrained by stringent regulations on volatile organic compounds (VOC) and other toxic substances in paints and coatings. Despite these challenges, the emergence of bio-based coatings presents new opportunities for market development.

The market is characterized by a shift towards waterborne automotive OEM coatings, driven by 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 expected to significantly influence the market's growth during the forecast period. The market is consolidated, with a few key players like Axalta Coating Systems, BASF SE, Akzo Nobel N.V., PPG Industries Inc., and The Sherwin-Williams Company holding substantial market shares. These companies are actively involved in developing innovative solutions to meet the evolving demands of the automotive coatings industry in Spain.

Explore More

Spain Automotive OEM Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Demand for Electric and Hybrid Vehicles

    3. 1.3 Market Restraints

      1. 1.3.1 Ongoing Shortage of Semiconductors

      2. 1.3.2 Other Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Porters Five Force Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Acrylic

      3. 2.1.3 Alkyd

      4. 2.1.4 Polyurethane

      5. 2.1.5 Polyester

      6. 2.1.6 Other Resin Type

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Others

    3. 2.3 Application

      1. 2.3.1 Passenger Cars

      2. 2.3.2 Commercial Vehicles

      3. 2.3.3 ACE

Spain Automotive OEM Coatings Market Size FAQs

The Spain Automotive OEM Coatings Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

Axalta Coating Systems, BASF SE, Akzo Nobel N.V., PPG Industries Inc. and The Sherwin-Williams are the major companies operating in the Spain Automotive OEM Coatings Market.

Spain Automotive OEM Coatings Report Snapshots

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