| Study Period | 2024 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | |
| CAGR | 8.61 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
ASEAN Automotive OEM Coatings Market Analysis
The ASEAN Automotive OEM Coatings Market is expected to register a CAGR of greater than 8.61% during the forecast period.
- The Increasing Demand for Passenger Cars is anticipated to be one of the major factors driving the growth of the Automotive OEM coatings market.
- On the flip side, shortages of semiconductors and other components are likely to negatively affect the demand for Auto OEM coatings consumption in the region.
- The Market expansion is anticipated to be supported by Increasing Demand for Electronic Vehicles
- In the End-User segment, the Passenger Cars segment is expected to dominate the country's automotive OEM coatings market.
- In ASEAN, Indonesia is one of Southeast Asia's largest passenger car manufacturing nations.
ASEAN Automotive OEM Coatings Market Trends
Indonesia to Dominate the Market
- The automobile industry in Indonesia has a considerable impact on the country's economic progress.
- Indonesia is one of the largest passenger car manufacturing nations in Southeast Asia. However, for the establishment of onshore car manufacturing facilities, Indonesia is primarily reliant on foreign direct investment, particularly from Japan. Attracted by low per capita-car ownership, low labor costs, and a rapidly expanding middle class, various global passenger carmakers have decided to expand car production capacity in Indonesia.
- Passenger car production in the country has declined by more than 47% in 2020. However, post-COVID-19 the production of passenger cars in the country reached 8,89,756 units in 2021, which shows a recovery of 61% compared to 2020.
- Furthermore, A growing number of automotive manufacturers, including Toyota, Nissan, and General Motors have decided to expand car production capacity in Indonesia.
- For Example, Passenger car production in the country has declined by more than 47% in 2020. However, post-COVID-19 the production of passenger cars in the country reached 8,89,756 units in 2021, which shows a recovery of 61% compared to 2020.
- Additionally, Light commercial vehicle production in the country increased after 2020 as a result of modifications and regulations enacted by the Indonesian government to attract market investment. While in 2020, light commercial vehicle production in Indonesia declined by 34.9%. The industry production has recovered by large extent in the country and reached 1,57,890 units in 2021, which shows a massive recovery of 66% compared to 2020. This is expected to increase the consumption of Auto OEM coatings from the country's LCV market.
- Also In July 2022, Mitsubishi annouced the plans to build a new plant in Indonesia to manufacture hybrid and electric vehicles.
- All the aforementioned factors are expected to act as driving factors for the Automotive OEM coatings market during the forecast period.
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Water-borne Coating Dominate the Market
- Although solvent-borne technology accounts for most of the market, it is predicted to grow slowly over the forecast period.
- Regulations governing VOC emissions from hazardous air pollutants contained in solvent-borne automotive OEM coatings such as toluene, xylene, ethylbenzene, and methyl ethyl ketone are one of the major factors limiting the expansion of solvent-borne automotive OEM coatings.
- Water-based automotive OEM coatings are becoming increasingly popular due to the continuously changing environmental regulations. Water-based coatings are constantly developing to provide the same performance as solvent-based coatings. For example, mild co-solvent reducers and additives are being developed to improve water-based coatings' performance and drying times.
- The increasing adoption of waterborne automotive coatings is due to their physical and chemical qualities, such as high chemical resistance, low processing temperature, and solvent-free formulations.
- Owing to above mentioned factor, waterborne technology is expected to grow significantly during the forecast period.
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ASEAN Automotive OEM Coatings Industry Overview
The ASEAN Automotive OEM Coatings Market is consolidated, as most of the market share is divided among a few companies. Some of the key players in the market include (not in any particular order) Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., PPG Industries Inc., and Kansai Paint CO. Ltd, among others.
ASEAN Automotive OEM Coatings Market Leaders
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Axalta Coating Systems
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BASF SE
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Nippon Paint Holdings Co., Ltd.
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PPG Industries Inc.
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Kansai Paint CO. Ltd
- *Disclaimer: Major Players sorted in no particular order
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ASEAN Automotive OEM Coatings Market News
The recent development pertaining to the major players in the market are being covered in the complete study.
ASEAN Automotive OEM Coatings Industry Segmentation
The ASEAN 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. Technology segments the market into water-borne, solvent-borne, and other coating technologies. End-User Industry segments the market into Passenger Cars, Commercial Vehicles, and ACE. By Geography (Indonesia, Malaysia, Thailand, Philippines, Singapore, and the Rest of ASEAN). 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 | |
| End-user Industry | Passenger Cars |
| Commercial Vehicles | |
| ACE | |
| Geography | Indonesia |
| Malaysia | |
| Thailand | |
| Philippines | |
| Singapore | |
| Rest of ASEAN |
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ASEAN Automotive OEM Coatings Market Research FAQs
What is the current ASEAN Automotive OEM Coatings Market size?
The ASEAN Automotive OEM Coatings Market is projected to register a CAGR of greater than 8.61% during the forecast period (2025-2030)
Who are the key players in ASEAN Automotive OEM Coatings Market?
Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., PPG Industries Inc. and Kansai Paint CO. Ltd are the major companies operating in the ASEAN Automotive OEM Coatings Market.
What years does this ASEAN Automotive OEM Coatings Market cover?
The report covers the ASEAN Automotive OEM Coatings Market historical market size for years: 2024. The report also forecasts the ASEAN Automotive OEM Coatings Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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ASEAN Automotive OEM Coatings Industry Report
Statistics for the 2025 ASEAN Automotive OEM Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Automotive OEM Coatings analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
