Europe Automotive Paints & Coatings Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
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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 Market Trends
Automotive Refinish to Witness the Rapid Growth during the Forecast Period
- Automotive refinishing coatings are used to enhance the appearance and repair the damages caused by external factors, such as temperature and damage from accidents, stones, and other debris.
- The refinishing coatings are considered for aftermarket applications of light vehicles, buses, heavy-duty trucks, and specialty OEMs. Automotive body shops and repair centers also use them for refinishing vehicles. Thus, an increase in vehicle production and a surge in aftermarket applications are boosting the demand for automotive paints and coatings.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the total vehicle production in Europe was at 16.21 million units in 2022, with an increase in automotive production by 5% compared to the previous year.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), the total vehicle production in France in 2022 was at 1.38 million units, with an increase in total vehicle production by 2% compared to the previous year. Automotive production in the region is also expected to increase during the forecast period, which is forecasted to boost the demand for automotive paints and coatings.
- Owing to the factors mentioned above, the demand for automotive paints and coatings in Europe is expected to increase during the forecast period.
Germany to Dominate the Market
- Germany leads Europe's automotive market, with 41 assembly and engine production plants contributing to one-third of Europe's total automobile production. The new car market in the country has grown significantly during the past few years.
- The sales and registrations of new vehicles are increasing steadily in the country, with improvements in the economy reflecting consumer confidence. This is expected to provide a stable contribution to paints and coatings from the automotive sector.
- According to the International Organization of Motor Vehicle Manufacturers (OICA), car and light commercial vehicle (LCV) production in Germany was at 3.67 million units in 2022 and had increased from 3.30 million units in 2021.
- The factors mentioned above are expected to boost demand for automotive paints and coatings in Germany.
Europe Automotive Paints & Coatings Industry Overview
Europe's automotive paints and coatings market is partially fragmented in nature, with only a few major players dominating the market. Some of the major companies (not in any particular order) inculde Akzo Nobel N.V., PPG Industries, Inc., Beckers Group, Jotun, and BASF SE.
Europe Automotive Paints & Coatings Market Leaders
Akzo Nobel N.V.
Jotun
BASF SE
PPG Industries, Inc
Beckers Group
*Disclaimer: Major Players sorted in no particular order
Europe Automotive Paints & Coatings Market News
- December 2022: Axalta signed a partnership with Steer Automotive Group, an accident Repair Organization in the United Kingdom. Under this, Axalta as its paint partner supplies its refinish brand Standox to Steer Automotive Group's 57 UK sites for automotive uses.
- July 2022: BASF's coatings division - BASF Global Automotive Refinish Coatings Solutions, entered into a partnership with the European Association of Peugeot Car Dealers (AECP). It helped the company to strengthen its long-lasting ties with the European Peugeot car dealer networks.
Europe Automotive Paints & Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Significant Growth in Automotive Production
4.1.2 Growing Demand for Environmentally-Friendly Paints and Coatings
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Volatile Raw Material Prices
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumer
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Polyurethane
5.1.2 Epoxy
5.1.3 Acrylic
5.1.4 Other Resin Types
5.2 Technology
5.2.1 Solvent-Borne
5.2.2 Water-Borne
5.2.3 Powder
5.2.4 Other Technologies
5.3 Layer
5.3.1 E-Coat
5.3.2 Primer
5.3.3 Base Coat
5.3.4 Clear Coat
5.4 Application
5.4.1 Automotive OEM
5.4.2 Automotive Refinish
5.5 Geography
5.5.1 Germany
5.5.2 United Kingdom
5.5.3 France
5.5.4 Italy
5.5.5 Spain
5.5.6 NORDIC Countries
5.5.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.2 Axalta Coating Systems
6.4.3 BASF SE
6.4.4 Beckers Group
6.4.5 Jotun
6.4.6 Kansai Paints Co., Ltd.
6.4.7 National Paints Factories Co. Ltd
6.4.8 PPG Industries, Inc.
6.4.9 RPM International Inc.
6.4.10 SIKA AG
6.4.11 Teknos Group
6.4.12 The Sherwin-Williams Company
6.4.13 TIGER Coatings GmbH & Co. KG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rise in Demand for Light Weight Electric Vehicles
7.2 Increase in Inclination of Automotive Manufacturers Towards Powder Coatings
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 |
Europe Automotive Paints & Coatings Market Research FAQs
How big is the Europe Automotive Paints And Coatings Market?
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.
What is the current Europe Automotive Paints And Coatings Market size?
In 2024, the Europe Automotive Paints And Coatings Market size is expected to reach USD 4.96 billion.
Who are the key players in Europe Automotive Paints And Coatings Market?
Akzo Nobel N.V., Jotun, BASF SE, PPG Industries, Inc and Beckers Group are the major companies operating in the Europe Automotive Paints And Coatings Market.
Europe Automotive Paints and Coatings Industry Report
Statistics for the 2024 Europe Automotive Paints And Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Automotive Paints And Coatings analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
