Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The worldwide market for in-mold coatings was worth a whopping USD 10,125.1 million in 2017 and is predicted to grow at a rate of 7.07%. This growth is expected to push the market value to around USD 16,224.2 million by the close of 2023. In-mold coating, a process that's both economical and environmentally friendly, is used to coat molded plastic surfaces. To keep costs down, this coating is applied during the molding process. The rising demand for in-mold coatings is primarily fueled by its increased application in making cars, where it efficiently and sustainably coats plastic surfaces. The automotive industry's heightened focus on reducing volatile organic compound (VOC) content and improving vehicle efficiency is another factor boosting the demand for in-mold coatings. Furthermore, the global market for in-mold coatings is expected to benefit from the growing need for affordable coating systems and the rising use of plastics in the automotive sector to lighten the weight of vehicles. This trend is anticipated to present profitable opportunities for market players during the assessment period. The market is divided based on the type of coating, substrate, application, and region.
The global in-mold coatings market can be categorized into sheet molding compounds (SMC), thermoplastic, bulk molding compounds (BMC), and others. Among these, the SMC segment dominated the market and was valued at USD 3,989.3 million in 2017. By the end of 2023, it is projected to reach USD 6,702.1 million. The preference for SMC substrates is on the rise due to the remarkable advantages offered by in-mold coatings. These benefits include creating a barrier against moisture, improving the clarity of images (DOI), and enhancing adhesion.
The in-mold coatings market globally is like a giant money pool, and in 2017, it had around USD 10,125.1 million in it. Now, experts think this pool will grow by about 7.07%, making it reach a staggering USD 16,224.2 million by the end of 2023. But what's in this pool, you ask? Well, it's a special coating technique called in-mold coating, and it's quite cool because it's both cheap and good for the environment. This technique is used to coat plastic things when they're being made. Think of it like adding a protective layer to your phone case while it's still being molded. Cool, right?
This in-mold coating thing getting so much attention? Well, it turns out, cars love it. Yes, cars! They use it to coat their plastic parts, and it's not just because it's cool but also because it's good for the planet. See, cars want to be efficient and not put out harmful stuff into the air, and in-mold coatings help them do just that. Also, people are looking at cars and thinking, "Hey, let's make them lighter!" So, they're using more plastic, and in-mold coatings are coming to the rescue, making sure everything stays coated and protected.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 0.21billion Billion |
| Market Size Value In 2023 | USD 0.224847billion Billion |
| Growth Rate | 7.07%(2023-2032) |
In-Mold Coatings Market Highlights:
Global In-Mold Coatings Market Overview
In-Mold Coatings Market Size was valued at USD 0.22 billion in 2023. The In-Mold Coatings market industry is projected to grow from USD 0.24 Billion in 2024 to USD 0.39 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.16% during the forecast period (2024 - 2032). Increased demand for in-mold coatings. Furthermore, governments worldwide are imposing stricter regulations on volatile organic compounds (V.O.C.s) and their usage in coatings. These regulations aim to reduce harmful emissions and promote environmentally-friendly practices within the automotive industry are the key factors in market growth 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
In-Mold Coatings Market Trends
-
Increasing demand for in-mold coatings from the automotive industry is driving the market growth
The automotive industry seeks to enhance the longevity and resilience of its products, making in-mold coatings an attractive choice. In-mold coatings provide cost advantages by eliminating additional coating steps in the manufacturing process. Since the coating is applied directly to the mold, there is no need for post-processing or secondary coating operations. This streamlined approach reduces production time and costs associated with traditional coating methods, making in-mold coatings economically beneficial for automotive manufacturers. Furthermore, automotive manufacturers face stringent emissions, safety, and product quality regulations. In-mold coatings help meet these regulatory requirements by providing consistent and uniform coating thickness, ensuring compliance with industry standards. Additionally, using environmentally friendly coating materials supports regulatory objectives related to sustainability and environmental protection. This factor drives the market CAGR.
Additionally, to comprehend the shifting demands, manufacturers never stop offering consumers custom solutions. Research and development efforts are looking toward creating more effective products requiring less upkeep. In-mold coatings may benefit greatly from increased public awareness of the application of various functional coatings. Over the projection period, the development of such products might expand the market for in-mold coatings significantly. Furthermore, the industrial sector is expanding steadily due to numerous government measures encouraging industrialization in countries such as China, Mexico, India, and others. Industrialization is advancing quickly because skilled labor is affordable and readily available in countries like India and China. population growth and an increase in per capita disposable income are fuelling vehicle sales and advancing the development of the automotive sector. For the automotive and other industries, emerging economies' high development potential is projected to generate many opportunities over the forecast period. Thus, driving the In-Mold Coatings market revenue.
In-Mold Coatings MarketSegment Insights
In-Mold Coatings Substrate Insights
The InMold Coatings market segmentation, based on substrate, includes sheet molding compounds (S.M.C.), thermoplastic, bulk molding compounds (B.M.C.), and others. The sheet molding compounds (S.M.C.) segment dominated the market; the sheet molding segment has emerged as the dominant player in the market, with sheet molding compounds (S.M.C.s) holding the largest market share among all substrates. In 2022, the total market value of S.M.C.s reached USD 4,269.8 million. The projected compound annual growth rate (CAGR) for S.M.C.s is expected to be the highest among all substrates until at least 2030. This surge in demand for S.M.C.s can be attributed to their ability to effectively seal out moisture from the surface of cars, thereby preventing rusting and significantly extending the lifespan of the vehicles. As a result, S.M.C.s have become highly sought-after in the automotive industry for their superior protective qualities.
In-Mold Coatings Type Insights
The In-Mold Coatings market segmentation, based on type, includes water-based I.M.C., powder, solvent-based I.M.C., and others. The water-based I.M.C. segment dominated the market; Water-based solvents have exhibited the highest compound annual growth rate (CAGR) and hold the largest market share. By the end of 2030, their CAGR is projected to exceed 7.07%. This growth can be attributed to the increasing implementation of stringent regulations and guidelines by governments and regulatory bodies worldwide, which aim to restrict the amount of volatile organic compounds (V.O.C.s) allowed in vehicles. In-mold coatings, known for their low V.O.C. content, are emerging as the preferred choice due to these regulations.
Figure1: In-Mold Coatings Market, by Type, 2022 & 2032 (USD billion) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
In-Mold Coatings End-Use Industry Insights
The In-Mold Coatings market is segmented based on the End-Use Industry, which includes automotive and transportation, building and construction, furniture and sanitary, electronics, medical, and others. Among these, the automotive and transportation segment dominates the market, holding the largest market share for in-mold coatings, accounting for 39% of the total market. In both developed and developing nations, the automotive industry is experiencing a significant increase in demand for used cars and new two- and four-wheel vehicles. This surge in demand is driving the growth of in-mold coatings as manufacturers seek lightweight, efficient, and cost-effective materials. They aim to minimize manufacturing costs while delivering affordable vehicles to the end customer.
In-Mold Coatings Regional Insights
The market study offers valuable insights into the In-Mold Coatings industry across North America, Europe, Asia-Pacific, and the Rest of the World. The North American in-mold coatings market, will dominate this market, owing to the demand for eco-friendly products developing rapidly as people become more aware of the importance of using eco-friendly products to safeguard the environment and human health, which will boost the market growth in this region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: IN-MOLD COATINGS MARKET SHARE BY REGION 2022 (%) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Europe In-Mold Coatings market accounts for the second-largest market share owing to substantial growth from end-use industries, including automotive, building and construction, transportation, and others. Further, the German In-Mold Coatings market held the largest market share, and the UK In-Mold Coatings market was the highest-growing market in the European region.
The Asia-Pacific In-Mold Coatings Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due tothe high demand for in-mold coatings in the automotive sector in the region. Moreover, China’s In-Mold Coatings market held the largest market share, and the Indian In-Mold Coatings market was the highest-growing market in the Asia-Pacific region.
In-Mold Coatings Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the In-Mold Coatings market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the In-Mold Coatings industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the In-Mold Coatings industry to benefit clients and increase the market sector. The In-Mold Coatings industry has offered some of the most significant advantages in recent years. Major players in the In-Mold Coatings market, includingBomixChemie GmbH - Germany, Omnova Solutions, Inc - America, Akzo Nobel NV - America, Sherwin-Williams Company - America, Stahl Holdings B.V. -Netherlands, Red Spot Paint & Varnish Company, Inc - America, Emil Frei Gmbh & Co. K.G. - German, Protech Powder Coatings Inc - America, Adapta Color, SL, - Spain, Plasti Dip International., and others, are attempting to increase market demand by investing in research and development operations.
Akzo Nobel N.V., a renowned Dutch multinational company specializing in paints and performance coatings, operates ly, serving both industrial and consumer markets. With its headquarters in Amsterdam, the company has a presence in over 150 countries worldwide. Recently, Akzo Nobel N.V. successfully acquired Industrias Titan S.A.U. (Titan Paints) by purchasing all of its shares. This strategic move aims to bolster Akzo Nobel's paints business and strengthen its market position in Spain, positioning the company as a leading player in the region.
Grupo Orbis is a Colombia-based chemical company that manufactures paint and coating products. Grupo Orbis, a Colombian paints and coatings firm acquired by AkzoNobel, to strengthen its long-term position in South and Central America. Completion is planned by the end of this year or early in 2022, subject to regulatory clearances.
Key Companies In The In-Mold Coatings Market Include
- BomixChemie GmbH - Germany
- Omnova Solutions, Inc - America
- Akzo Nobel NV - America
- Sherwin-Williams Company - America
- Stahl Holdings B.V. - Netherlands
- Red Spot Paint & Varnish Company, Inc - America
- Emil Frei Gmbh & Co. KG - German
- Protech Powder Coatings Inc - America
- Adapta Color, SL, - Spain
- Plasti Dip International - America
In-Mold Coatings Industry Developments
March 2021: Akzo Nobel N.V. (AKZA; AKZOY) completed purchasing 100 percent of the shares of Industrias Titan S.A.U. (Titan Paints), expanding its paints business and footprint in Spain to become a regional market leader.
June 2021: AkzoNobel agreed to buy Grupo Orbis, a Colombian paints and coatings firm, to strengthen its long-term position in South and Central America. Completion is planned by the end of this year or early in 2022, subject to regulatory clearances.
In-Mold Coatings Market Segmentation
In-Mold Coatings Substrate Outlook
- Sheet Molding Compounds (S.M.C.)
- Thermoplastic
- Bulk Molding Compounds (B.M.C.)
- others
In-Mold Coatings Type Outlook
- Water-Based I.M.C.
- Powder
- Solvent-Based I.M.C.
- Others
In-Mold Coatings End-Use Industry Outlook
- Automotive and Transportation
- Building and Construction
- Furniture and Sanitary
- Electronics
- Medical
- others
In-Mold Coatings Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
