UAE Automotive Coatings Market to be dominated by Water-Borne Technology till 2027
The rising sales of motor vehicles and high demand for power
coatings are expected to drive the demand of UAE automotive coatings market in
the forecast period, 2023-2027.
According
to TechSci Research report, “UAE Automotive Coatings Market By Region, Competition
Forecast & Opportunities, 2027”,
the UAE automotive coatings market is expected to witness steady growth in the
forecast period, 2023-2027. There is high demand for automotive coatings as
they are easy to apply and have low maintenance. They enhance the shine and
aesthetic appeal of vehicles which is expected to boost the automotive coatings
market share. Automotive coatings protect the vehicle from getting damaged by
harsh environmental factors such as rust, snow, moisture, etc. Consumers are
fueling the demand for automotive coatings to ensure the proper maintenance of
vehicles even after rough use of vehicles.
However,
the application of waterborne coatings is difficult and time-consuming. Also,
the volatile price of raw materials used in automotive coatings may restrain
the growth of the UAE automotive coatings market in the forecast period.
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The
UAE automotive coatings market is segmented into vehicle type,
technology, resin type, application, demand category, regional distribution,
and competitive landscape.
Based
on vehicle type, the market is divided into two-wheeler, passenger car, LCV,
M&HCV, and OTR. The passenger car segment is dominating the market and is
expected to maintain its dominance throughout the forecast period. The growing
demand for private vehicle ownership and the improved lifestyle of consumers
are driving the market demand. Passenger car manufacturers actively use automotive
coatings to protect the metal of vehicles from rust and degradation. The
growing sales and production of passenger cars are expected to bolster the
market demand over the next five years.
Based
on technology, the market is divided into water-borne, solvent-borne, powder
coating, and others. Water-borne technology is expected to witness the fastest
incremental growth in the forecast period. This is due to low toxicity, low HAP
emissions, which help to reduce the air pollution level. The changing environmental
standards are increasing the demand for water-based automotive coatings.
Based
on resin type, the market is divided into acrylic, alkyd, polyurethane, epoxy,
polyester, and others. The polyurethane segment is anticipated to capture the
largest market share over the forecast period. They are used widely for
clearcoats and basecoats due to their high corrosion, heat, and impact
resistance.
Based
on application, the market is divided into primer, clearcoat, basecoat, and
others. The basecoat segment is expected to be the fastest-growing segment
during the forecast period due to continuous advancements in technology. The
development of a new integrated system having two layers of basecoat by the
automotive coating producers to garner customer attraction is expected to
influence the market demand. One layer of basecoat absorbs UV radiation and
other advanced basecoats.
Based
on the demand category, the market is bifurcated into OEM and aftermarket. The
OEM segment is expected to account for a significant market share in the next
five years. OEMs are making efforts to optimize the automotive coating process
and maintain the quality of automotive coating, which is deemed the most energy
and cost-intensive process.
Major
market players operating in the UAE automotive coatings market are :
·
Delta
Gulf Paints.
·
Shaji
Auto Paints Trading LLC
·
Wellcoat
Paints
·
Al
Danawi Stores Llc
·
Mega
Paints Trading Llc
·
Al
Mayar Coatings
·
Kansai
Paint Middle East
·
Al
Alwan Al Sehriah Auto Paint Trdg
·
Abdul
Rahman Car Paints Co
·
KCC
Corporation
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“The key players are expected to invest
in technological advancements in automotive coatings to meet the changing
consumer requirements and enhance the vehicle's appearance. The use of digital
technology and data analytics to improve the effectiveness and efficiency of
automotive coatings and virtual technology to give the customer the feel of
color and texture of automotive coatings on the vehicle is expected to create
lucrative growth opportunities for the UAE automotive coatings market in the
forecast period. Also, the advent of self-driving cars and autonomous vehicles
is making manufacturers innovate and develop automotive coatings that can work
with sensors and radars installed in automobiles. The growing focus on
innovation and development of the automotive coating manufacturers and the high
production and sales of passenger cars are anticipated to propel the UAE
automotive coatings market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“UAE Automotive Coatings Market By Vehicle Type
(Two-Wheeler, Passenger Car, LCV, M&HCV, OTR), By Technology (Water-Borne,
Solvent-Borne, Powder Coating, Others), By Resin Type (Acrylic, Alkyd,
Polyurethane, Epoxy, Polyester, Others), By Application (Primer, Clearcoat,
Basecoat, Others), By Demand Category (OEM, Aftermarket), By Region, Competition
Forecast & Opportunities, 2027”, has evaluated the future
growth potential of UAE automotive coatings market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in UAE automotive coatings market.
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