Market Size of South Africa Automotive OEM Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Automotive OEM Coatings Market Analysis
The South Africa Automotive OEM Coatings Market is expected to reach USD 64.116 Million by the end of this year and is projected to register a CAGR of over 6% during the forecast period.
The South Africa Automotive OEM coatings market has seen a slight increase in 2021 as there was an increase in the production of vehicles compared to 2020. The country maintained a 12% growth in 2021 compared to last year.
- The driving factors that tend to the market growth include an increase in the production of Auto OEM vehicles in 2021, and according to OICA, there was a total of 4,99,087 units of vehicles produced, including passenger cars, commercial vehicles, busses, and trucks.
- The stringent regulations regarding the VOC limits and other toxic substances in paints and coatings are creating hindrances in the market.
- There has been an increase in the R&D for developing various bio-based OEM coatings in the market in view of stringent VOC regulations set by the governing bodies.
