European Automotive Coatings Market size is estimated to surpass USD 5 billion by 2026, according to a latest forecast report by Graphical Research.
Consumer focus on enhancing vehicle aesthetic appeal and appearance and maintenance of existing vehicles is likely to boost the automotive coatings market growth. Growing trend of vehicles renovation and use of custom-made paints and coatings should create market demand.
The basecoat segment was worth approximately USD 1.5 billion in 2019. There are three types of basecoat that can be applies on a vehicle: solid, metallic, and pearlescent. Solid basecoats are color and don’t have glossy effects and such types of basecoats are mainly used for commercial vehicles. Metallic basecoats offer glossy and shiny effect that solid basecoats do not offer.
Metallic and pearlescent coatings are applied on vehicle for providing a better finish to vehicle surface. It is applied after the primer coat and offer color and effects to a vehicle. Consumer focus on overall vehicle appearance should be a key growth driving factor for the automotive basecoat market.
Solvent based automotive coatings contain a solvent base such as enamel or lacquer and a significant amount of volatile organic compounds. Presence of solvent in automotive paint helps in formation of durable and regular paint film, applications, and drying of paint.
Browse detailed statistical insights from the report, “Europe Automotive Coatings Market Size By Product (Primer, Electrocoat, Basecoat, Clearcoat), By Technology (Solvent borne, Waterborne, UV – Cured), By Application (Metals, Plastic), By End-Use (Light Vehicle OEM, Commercial OEM, Automotive Refinish), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
Solvent based paints also have better appearance and flowing ability that other automotive paint counterparts. However, solvent based automotive paints contain large amount of toxin that may harm environment and have strong odor. Stringent regulations regarding use of environmentally friendly coatings for avoiding the exposure of harmful chemicals should affect the solvent borne automotive coatings segment growth.
Automotive coatings are applied on cars and light vehicles for preventing rusting of vehicle body and better appearance to a vehicle. Consumer focus on vehicle appearance and regular maintenance has increased over the years owing to changing perception and rise in the spending on vehicle maintenance. Moreover, availability of low cost and highly efficient automotive coatings in the market has also attracted new customers in trying new paints on vehicle body. This has been a crucial factor for triggering the demand for automotive coatings for cars and light weight vehicles.
Car modification has gained high traction in recent years owing to increase in the number of car enthusiasts in Europe and rising spending on car modification. One of the key trends in the car modification industry is the increase in spending on making their car more attractive, which has resulted in an increase in the demand for paints and coatings in the aftermarket. Further, easy and low-cost way of personalization of vehicle is also expected to boost the demand for automotive coatings in the automotive aftermarket.
Major players in the market include BASF SE, Bayer AG, Axalta Coatings Systems LLC, PPG Industries, Inc., AkzoNobel N.V., Arkema SA, Clariant, Solvay S.A., Lord Corporation, The Sherwin-Williams Company, and Eastman Chemical Company.
The European automotive coatings market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:
Europe Market, By Technology
- Solvent borne
- UV – Cured
Europe Market, By Product
Europe Market, By Application
Europe Market, By End-Use
- Light vehicle OEM
- Commercial OEM
- Automotive Refinish
The above information has been provided for the following countries: