Published Date: 2021-09-06
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European Automotive Paints and Coatings Market size is estimated to cross USD 2.72 billion by 2026, according to a latest forecast report by Graphical Research.
The surging demand for passenger cars in Europe is a major factor for industry expansion. Several regional economies including Russia, France, etc., are showcasing considerable growth in the sales of new passenger cars. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), in FY2018, Russia and France passenger car production grew by around 13.9% and 2% respectively as compared to FY2017. Additionally, several car manufacturers shifted from conventional fuel to electric-powered car production and high investments in this initiative are the key future trends in the vehicle industry. For instance, in February 2021, Ford announced to invest around USD 1 billion to target electric passenger car production by 2030.
Proliferating demand for non-reflective & corrosion-resistant paints is significantly contributing toward driving the regional share over the study timeframe. Moreover, paint manufacturers are offering eco-friendly paints with improved appearance and superior finish for enhancing the overall aesthetics & feel of the vehicle. Further, the growing pre-owned vehicles sales along with a considerable demand for sport vehicles are supporting industry expansion.
Based on coating type, clear coat is expected to generate around USD 550 million revenue by 2026, showcasing a considerable growth rate. Clear coats are offering several benefits such as protection to the base coat and primer from adverse weather conditions. It is non-pigmented and offers superior mirror finish to the vehicles. Additionally, the clear coat is also mixed with UV blockers to enhance base coat protection from harmful sun rays that fade the paint.
Based on technology, powder coating technology is expected to showcase a considerable growth of around 5.6% CAGR by 2026. Powder coatings enable simplified rectification of inappropriately coated areas owing to precise film thickness of products. This makes them a preferred choice for various end-use applications of automotive parts. Further, several benefits offer by this technology including high quality, cost-effectiveness, environment-friendliness, swift paint applicability, and easy usability, and improvement of paint application processes are supporting the segment growth.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1940/europe-automotive-paints-coatings-market
Matte texture segment generates around USD 75 million revenue in 2019. This texture is popular owing to non-reflective & flat appearance along with sandy & rough textures. Several vehicle manufacturers such as Lexus, Hyundai, etc., are offering matte texture to their newly launched vehicles including special edition 2019 GS F and RC F of Lexus. However, difficulties in cleaning of this vehicles may affect product demand in the long run.
The aftermarket segment is expected to generate around USD 879 million revenue by 2026. The segment is showing a considerable growth owing to the growing consumer preferences toward cost-effective products with enhanced durability & quality. Rising presence for auto servicing centers and independent auto body shops in the region along with the adoption of numerous refinishing services for vehicle repair is driving market growth.
Epoxy paints & coatings materials for automotive applications generated around USD 380 million- revenue in 2019. Several advantages of epoxy including excellent adhesion with metals and improved wear resistance capabilities are prominently increasing the applications in complicated cavities, underhood components, rims, and door handles. Industry players are strengthening their distribution networks for curing agents for increasing their revenue generation opportunities. For instance, in August 2018, Gustav Grolman GmbH & Co. KG and BASF SE extended their regional partnerships for marketing amine-based curing agents in epoxy resins.
The Spain automotive paints and coatings industry is expected to showcase a significant growth with around 8.7% CAGR by 2026. The development of a new simulation process in paint shops and the integration of new digital services & technologies are the key trends in the country. For instance, in April 2021, researchers form Volkswagen Spain integrated several simulation technologies in paint shop which enabled them to reduce cycle time of process by 16% along with other benefits. Further, in July 2021, the country announced an investment of around USD 5 billion for the production of electric vehicles and batteries.
The Europe automotive paints and coatings market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million liters and revenue in USD million from 2015 to 2026 for the following segments:
Europe Market, By Coating Type
Europe Market, By Texture Type
Europe Market, By Technology
Europe Market, By Distribution Channel
Europe Market, By Raw Material
Europe Market, By Vehicle Type
The above information is available for the following countries:
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