Market Size of Japan Automotive OEM Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Automotive OEM Coatings Market Analysis
The Japan Automotive OEM Coatings Market was valued at USD 900 million by the end of this year. The market is projected to register a CAGR of 4.5% 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.
- On the flip side, shortages of semiconductors and other components are likely to negatively affect the demand for Auto OEM coatings consumption in the country.
- The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.
