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    Europe Automotive Paints & Coatings Market Forecast 2026 By Texture (Solid, Metallic, Matte), By Vehicle Type (PCV, LCV, HCV), By Coating Type (Primer, Basecoat, Clearcoat, Electrocoat), By Technology (Waterborne, Solvent-borne, Powder, UV Cured), By Distribution Channel (OEM, Aftermarket), By Raw Material (Polyurethane, Epoxy, Acrylic), Research Report, Country Outlook (Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: August 2021   |   Report ID: GR1940   |   Delivery: PDF  Request Free Sample

    Europe Automotive Paints & Coatings Market size crossed USD 2.31 billion in 2019 and is predicted to register 5.8% growth rate between 2020 and 2026.

    The market demand is majorly driven by the shifting consumer preferences toward enhancing vehicle aesthetics along with growing automotive sales. Several benefits offered by paints & coatings including protection to vehicles from adverse environmental factors & corrosion coupled with improved vehicle surface finishes will support product penetration. In addition, the rising demand for caramelization alternatives in vehicles based on graphic & color schemes will boost market expansion.


    Europe Automotive Paints & Coatings Market Size, By Country

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    Growing demand for restoration, maintenance, and repair of vehicles are the other key factors driving product consumption. Rising inclination toward the purchase of pre-owned cars owing to high depreciation rate of new cars, favorable financing options, and considerably lower prices of used cars are further providing new opportunities for refinishing paint & coating applications. Additionally, coating manufacturers are entering into strategic agreements & partnerships with other industry participants to develop advanced automotive coatings.

    Europe Market, By Technology

    Waterborne technology segment in the Europe automotive paints & coatings market generated around USD 1,107 million revenue in 2019, attributed to substantial cost savings achieved by this technology. The utilization of waterborne products offers high chemical resistance and solvent-free preparation of coatings, thereby lowering the hazardous effects on employees working in the paint & coating divisions of vehicles. Further, it protects vehicles against severe weather conditions along with lower temperature processing.

    Europe Market, By Texture

    The metallic texture segment dominated 67% Europe automotive paints & coatings market share in 2019 and will expand at 3.9% CAGR during the forecast period. Metallic texture products have aluminum flake pigments in it, providing appearance changes with viewing angles and illumination direction along with distinctive finishing features. Additionally, special effect pigments in these products offer a high degree of flake orientation and viscoelastic properties, providing superior texture finish to vehicles. Rising consumer preference to customize sports vehicles with metallic basecoats will further fuel the segment growth.

    Europe Market, By Coating Type

    Europe Automotive Paints & Coatings Market Size, By Coating Type

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    Electrocoat type coating held nearly 55% volumetric market share in 2019, due to a wide range of benefits offered by electrocoat coatings such as uniform film thickness, highly efficient coating process, and greater corrosion resistance. Further, the development of new electrocoat products with energy-saving & cost-effective solutions will support the segment growth. For instance, in December 2020, Axalta launched AquaEC 3500 Edge Protection Electrocoat, catering to automotive parts & accessories and industrial customers. The new solution required low curing temperature, leading to energy-saving and cost-effectiveness of the coating process.

    Europe Market, By Distribution Channel

    The OEM segment accounted for USD 1,587 million revenue in the Europe automotive paints & coatings market during 2019. Surging passenger vehicle sales owing to rising consumer spending on aesthetic appearance, functionality, and comfort are supporting OEM the segment demand. Development and availability of corrosion resistive & long-lasting paints with optimum energy saving spraying technologies will further impel the segment value.

    Europe Market, By Raw Material

    Polyurethane-based coating is expected to showcase a significant growth of 6.5% through 2026. The polyurethane-based coatings are used by several automotive manufacturers owing to excellent solvent resistance, weatherability, and good mechanical properties along with acceptable cure rates at ambient temperatures. Moreover, shifting preferences of coating & paint service providers toward this material owing to the availability of a wide color palette and texture will propel the segment size.

    Europe Market, By Country

    The Germany automotive paints & coatings market size is anticipated to reach USD 480 million by 2026. The country is a major hub of automotive manufacturers with wide production facilities. Further, the regional government is strongly committed toward environmental sustainability, supporting electric vehicle sales with large subsidies on electric vehicles and plug-in hybrid vehicles sales, leading to a strong growth rate.

    Competitive Industry Landscape

    Prominent companies operating in the Europe automotive paints & coatings market include 3M, BASF SE, Axalta Coating Systems, AkzoNobel N.V., PPG Industries Inc., Sherwin-Williams Company, and Eastman Chemical Company. Product development, mergers & acquisitions, partnerships, and establishment of new labs & production facilities are the key initiatives adopted by manufacturers to enhance their market shares.


    Frequently Asked Question(FAQ) :

    What factors will drive Europe automotive paints & coatings market forecast?
    The industry size for automotive paints & coatings in Europe will observe a growth rate of more than 5.8% up to 2026 owing to the rising automotive sales and higher consumer preference for enhancing the vehicle aesthetics.
    What parameters are boosting the adoption of automotive paints & coatings through waterborne technology in Europe?
    The market size for automotive paints & coatings in Europe from the waterborne technology segment amassed more than USD 1,107 million in 2019 and will expand with the growing need for cost-savings.
    How are OEMs influencing the Europe automotive paints & coatings industry trends?
    The regional market share from OEM distribution channels surpassed USD 1,587 million in 2019 and will grow with the increasing passenger vehicle sales and the higher consumer spending on aesthetic appearance, functionality, and comfort.
    Why is the demand for polyurethane-based automotive paints & coatings rising substantially across Europe?
    Annual revenue of polyurethane-based automotive paints & coatings in Europe will witness a growth rate of 6.5% through 2026 due to higher adoption by several automotive manufacturers.
    How big is the Germany automotive paints & coatings sector?
    The industry for automotive paints & coatings in Germany will record a valuation of over USD 480 million by 2026 with the robust presence of automotive manufacturers with wide production facilities in the region.

    Get this research report on Europe Automotive Paints & Coatings Market customized according to your business requirements.

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