Market Size of Europe Automotive Paints And Coatings Industry
| 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.
