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Europe Automotive Paints And Coatings Market Size (2024 - 2029)

The Europe automotive paints and coatings market is projected to experience growth over the forecast period, driven by a recovery in the automotive industry and an increase in automotive production. The demand for environmentally-friendly paints and coatings is also contributing to the market's expansion. Despite challenges such as volatile raw material prices, opportunities for growth are anticipated, particularly with the rising demand for lightweight electric vehicles and the shift towards powder coatings. Germany is expected to maintain its position as the leading consumer in this market.

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Market Size of Europe Automotive Paints And Coatings Industry

Europe Automotive Paints and Coatings Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 4.96 Billion
Market Size (2029) USD 5.76 Billion
CAGR (2024 - 2029) 3.00 %
Market Concentration Low

Major Players

Europe Automotive Paints And Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Automotive Paints & Coatings Market Analysis

The Europe Automotive Paints And Coatings Market size is estimated at USD 4.96 billion in 2024, and is expected to reach USD 5.76 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).

In 2020, COVID-19 had a negative impact on the European market for automotive paints and coatings. However, post-COVID-19 pandemic, the automotive industry is recovering fast and is estimated to rise in the coming years, stimulating demand for the automotive paints and coatings market.

  • The major factors driving the market's growth are significant growth in automotive production and growing demand for environmentally-friendly paints and coatings.
  • Volatile raw material prices act as a restraint for the European automotive paints and coatings market. The rate of rise in demand for lightweight electric vehicles and the inclination of automobile manufacturers toward powder coatings is forecast to offer various opportunities for market growth over the forecast period.
  • Germany is the leading country in the consumption of automotive paints and coatings, and it is expected to dominate the market during the forecast period.

Europe Automotive Paints & Coatings Industry Segmentation

Automotive paints and coatings are extensively used for decorative and protective purposes in automotive applications. These coatings help automotive manufacturers produce fuel-efficient vehicles by improving the rolling resistance of the tires. Europe's automotive paints and coatings market is segmented by resin type, technology, layer, application, and geography (Germany, the United Kingdom, France, Italy, Spain, Russia, and the rest of Europe). The market is segmented by resin type into polyurethane, epoxy, acrylic, and others. By technology, the market is segmented into solvent-borne, water-borne, powder, and others. The market is segmented by layer into e-coat, primer, base coat, and clear coat. By application, the market is segmented into automotive OEM and automotive refinish. The report also covers the market size and forecasts for the European automotive paints and coatings market in 6 regional countries. Market sizing and forecasts have been done for each segment based on revenue (USD).

Resin Type
Polyurethane
Epoxy
Acrylic
Other Resin Types
Technology
Solvent-Borne
Water-Borne
Powder
Other Technologies
Layer
E-Coat
Primer
Base Coat
Clear Coat
Application
Automotive OEM
Automotive Refinish
Geography
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Rest of Europe
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Europe Automotive Paints And Coatings Market Size Summary

The European automotive paints and coatings market is poised for growth, driven by a resurgence in the automotive industry following the challenges posed by the COVID-19 pandemic. The market is experiencing an uptick in demand due to increased automotive production and a growing preference for environmentally-friendly solutions. The shift towards lightweight electric vehicles and the adoption of powder coatings by automobile manufacturers present significant opportunities for market expansion. Germany stands out as the leading consumer of automotive paints and coatings in Europe, with its robust automotive production facilities and increasing vehicle registrations contributing to the market's dominance. The market is characterized by a partial fragmentation, with major players like Akzo Nobel N.V., PPG Industries, Inc., Beckers Group, Jotun, and BASF SE playing pivotal roles.

The demand for automotive paints and coatings is further bolstered by the need for refinishing coatings used in aftermarket applications for various vehicles, including light vehicles, buses, and heavy-duty trucks. The increase in vehicle production and the subsequent rise in aftermarket applications are key factors driving market growth. Partnerships and collaborations among major companies, such as Axalta's alliance with Steer Automotive Group and BASF's engagement with the European Association of Peugeot Car Dealers, are enhancing market dynamics and strengthening ties within the industry. As the automotive sector continues to recover and expand, the European automotive paints and coatings market is expected to witness steady growth over the forecast period.

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Europe Automotive Paints And Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Significant Growth in Automotive Production

      2. 1.1.2 Growing Demand for Environmentally-Friendly Paints and Coatings

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Volatile Raw Material Prices

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumer

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Polyurethane

      2. 2.1.2 Epoxy

      3. 2.1.3 Acrylic

      4. 2.1.4 Other Resin Types

    2. 2.2 Technology

      1. 2.2.1 Solvent-Borne

      2. 2.2.2 Water-Borne

      3. 2.2.3 Powder

      4. 2.2.4 Other Technologies

    3. 2.3 Layer

      1. 2.3.1 E-Coat

      2. 2.3.2 Primer

      3. 2.3.3 Base Coat

      4. 2.3.4 Clear Coat

    4. 2.4 Application

      1. 2.4.1 Automotive OEM

      2. 2.4.2 Automotive Refinish

    5. 2.5 Geography

      1. 2.5.1 Germany

      2. 2.5.2 United Kingdom

      3. 2.5.3 France

      4. 2.5.4 Italy

      5. 2.5.5 Spain

      6. 2.5.6 NORDIC Countries

      7. 2.5.7 Rest of Europe

Europe Automotive Paints And Coatings Market Size FAQs

The Europe Automotive Paints And Coatings Market size is expected to reach USD 4.96 billion in 2024 and grow at a CAGR of 3% to reach USD 5.76 billion by 2029.

In 2024, the Europe Automotive Paints And Coatings Market size is expected to reach USD 4.96 billion.

Europe Automotive Paints and Coatings Market Report Snapshots

Europe Automotive Paints and Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)