UK Automotive OEM Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Automotive OEM Coatings Market Analysis
The United Kingdom Automotive OEM Coatings Market was valued at USD 150 million by the end of this year. The market is projected to register a CAGR of 3.4% during the forecast period. The COVID-19 pandemic negatively affected the automotive OEM coatings market as most manufacturers closed their manufacturing activities. However, after the pandemic, automotive manufacturers resumed production work which helped revive the market for automotive OEM coatings in the country.
- Over the long term, the major factor driving the market studied is the preference for personal transport owing to the pandemic crisis. The consumer preference for private transport has grown over the recent years due to better development of roads and infrastructure, startup innovations in the car rental industry, and the availability of low-cost cars that are affordable for middle-class people.
- The harmful environmental impact of conventional coatings is expected to restrain the automotive OEM market in the country.
- The rising demand for electric vehicles offers various opportunities for market growth during the forecast period.
- In the application segment, the passenger vehicles segment is expected to dominate the market for automotive OEM coatings in the country.
UK Automotive OEM Coatings Market Trends
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 major 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.
- In Europe, according to the International Energy Agency (IEA), electric car sales increased by nearly 70% in 2021 to 2.3 million, about half of which were plug-in hybrids. The surge in EV sales in Europe last year was partially driven by new CO2 emissions standards. Moreover, purchase subsidies for EVs were increased and expanded in most major European markets.
The Passenger Cars Application Segment to Dominate the Market
- Passenger cars are vehicles designed for the carriage of passengers and comprising no more than eight seats in addition to the driver's seat. The passenger car can carry a maximum mass of 3.5 tons.
- The automotive coatings are used for coating various interiors and exteriors of cars, such as center clusters, instrument panels, armrests, meter clusters, speaker grills, armrest bezels, steering wheels, door trim, and handles, and to coat the surface of automobiles for both protection of the vehicle's surface as well as to enhance its aesthetic appearance.
- In 2021, the United Kingdom produced a total of 859,575 units of passenger vehicles at a 7% production decline rate as compared to 920,928 units produced in 2020. The fallout due to Brexit and the tensions between the United States and China have also significantly affected vehicle production in the country.
- However, the electric vehicle production volumes in the United Kingdom have increased with the availability of new EV models, ongoing government support, and the continued expansion of the public charging infrastructure. The country's electric vehicles industry has registered growth for eight consecutive years.
- The United Kingdom is planning to phase out gasoline and diesel vehicles to promote the transition to more eco-friendly transportation by 2030. The country has also planned an investment of over USD 2.1 billion in infrastructure and grants to expand access to zero-emission vehicles and support a green economic recovery, thereby increasing the demand for passenger electric vehicles market in the country.
UK Automotive OEM Coatings Industry Overview
The United Kingdom automotive OEM coatings market is consolidated. Some major players in the market include (not in a particular order) Akzo Noble N.V., Axalta Coating Systems, BASF SE, PPG Industries, Inc, and The Sherwin-Williams Company.
UK Automotive OEM Coatings Market Leaders
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Akzo Nobel N.V.
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Axalta Coating Systems
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BASF SE
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PPG Industries, Inc
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
UK Automotive OEM Coatings Market News
The recent developments pertaining to the major players in the market are being covered in the complete study.
UK Automotive OEM Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Mobility Preference for Personal Transport
4.1.2 Growing Demand for Better Interiors in Vehicles
4.2 Restraints
4.2.1 Fluctuating Automotive Industry
4.2.2 Harmful environmental impact of conventional coatings
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Value in USD Million)
5.1 Application
5.1.1 Passenger Vehicles
5.1.2 Commercial Vehicles
5.1.3 ACE
5.2 Technology
5.2.1 Waterborne
5.2.2 Solventborne
5.2.3 Powder
5.2.4 UV-Cured
5.3 Resin Type
5.3.1 Acrylic
5.3.2 Alkyd
5.3.3 Epoxy
5.3.4 Polyurethane
5.3.5 Polyester
5.3.6 Other Resin Types
5.4 Layer
5.4.1 Basecoat
5.4.2 Clearcoat
5.4.3 Electrocoat
5.4.4 Primer
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.2 Axalta Coating Systems
6.4.3 BASF SE
6.4.4 Beckers Group
6.4.5 Hemple A/S
6.4.6 HMG Paints Limited
6.4.7 Jotun
6.4.8 Mankiewicz Gebr. & Co.
6.4.9 MIPA SE
6.4.10 PPG Industries
6.4.11 RPM International Inc.
6.4.12 The Sherwin-Williams Company
6.4.13 Thermaset Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The rising demand for electric and hybrid passenger vehicles
7.2 Increasing demand for eco-friendly coatings
UK Automotive OEM Coatings Industry Segmentation
Automotive OEM coatings are used to protect the vehicle body from corrosion. The coating applications include the steps of electro-coat, primer, basecoat, and clear coat. Automotive OEM coatings will help to improve the appearance and performance of vehicles. The automotive OEM coatings market is segmented by application, technology, resin type, and layer type. By application, the market is segmented into passenger vehicles, commercial vehicles, and ACE. By technology, the market is segmented into waterborne, solvent-borne, powder, and UV-cured. By resin type, the market is segmented into acrylic, alkyd, epoxy, polyurethane, polyester, and others. By layer type, the market is segmented into base coat, clear coat, electro coat, and primer. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Application | |
| Passenger Vehicles | |
| Commercial Vehicles | |
| ACE |
| Technology | |
| Waterborne | |
| Solventborne | |
| Powder | |
| UV-Cured |
| Resin Type | |
| Acrylic | |
| Alkyd | |
| Epoxy | |
| Polyurethane | |
| Polyester | |
| Other Resin Types |
| Layer | |
| Basecoat | |
| Clearcoat | |
| Electrocoat | |
| Primer |
UK Automotive OEM Coatings Market Research FAQs
What is the current United Kingdom Automotive OEM Coatings Market size?
The United Kingdom Automotive OEM Coatings Market is projected to register a CAGR of greater than 3.40% during the forecast period (2024-2029)
Who are the key players in United Kingdom Automotive OEM Coatings Market?
Akzo Nobel N.V., Axalta Coating Systems, BASF SE, PPG Industries, Inc and The Sherwin-Williams Company are the major companies operating in the United Kingdom Automotive OEM Coatings Market.
What years does this United Kingdom Automotive OEM Coatings Market cover?
The report covers the United Kingdom Automotive OEM Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Automotive OEM Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United Kingdom Automotive OEM Coatings Industry Report
Statistics for the 2024 United Kingdom Automotive OEM Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United Kingdom Automotive OEM Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
