Europe Automotive Coatings Market Size to Cross $5 Bn by 2026

According to a recent study from market research firm Graphical Research, the Europe automotive coatings market size is poised to expand at substantial CAGR during the forecast period. With the focus on improving vehicle aesthetic appeal rising by leaps and bounds, Europe automotive coatings market value is expected to surge. Considering the trend for vehicle renovation and custom-made paints and coatings, leading companies are likely to further their investments in the sector.

While water-based coatings have set the trend among auto makers, primer coating and clear coating have brought a paradigm shift by improving chemical stability and abrasion resistance of the paint. In terms of revenue, Europe automotive coatings market is forecast to surpass USD 5 billion by 2026.

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The trend for electrocoat is likely to be apparent among auto manufacturers to paint complex-shaped parts. Demand for electrocoat will continue to gain ground in Europe automotive coatings market to provide effective and faster coating abilities. The market revenue from the electrocoat segment was pegged at over USD 870 million in 2019 and will expand notably, partly owing to the increasing production of passenger vehicles and commercial vehicles.

End-users are likely to use basecoat that can be applied on metallic, solid and pearlescent vehicles. It is worth noting that solid basecoats don’t have glossy effects and have set the fueled the trend in commercial vehicles. In terms of value, the basecoat segment was pegged at more than USD 1.5 billion in 2019.

Water based coatings are likely to boost the revenue stream as car manufacturers continue to emphasize reduction of volatile organic compounds. Water based automotive coatings have become highly desirable in boosting the air quality and reducing health hazards. The market share from the water based coatings in Europe will expand at a robust CAGR of 5% through 2026.

Solvent based paints are likely to be trendier owing to flowing ability and better appearance. That said, rigorous regulations pertaining to the use of environmentally friendly coatings will potentially impede the growth of solvent borne coatings.

Europe automotive coatings market will be sought-after among commercial OEM suppliers on the heels of soaring production of commercial vehicles, preferably light weight commercial vehicles. The commercial OEM segment was valued at more than USD 1 billion in 2019 and will expand at a CAGR of 4.5% through 2026.

Light weight commercial vehicles are likely to bring the paradigm shift in Europe automotive coatings market. The number of light weight commercial vehicles was pegged at 2,201 thousand units in 2019, up from 2,199 thousand units in 2018. Moreover, the use of new coatings with crosslinking attributes has prompted leading companies to propel resistance to UV, durability, scratch, rust and appearance.

Leading companies are likely to cash in on the soaring trend for car modification to make car more attractive. Use of paints and coatings in the aftermarket will continue to surge, with low cost way of personalization of vehicles fueling the demand for automotive coatings.

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Some of the companies in the market are AkzoNobel N.V., BASF SE, Axalta Coatings Systems LLC, Arkema SA, PPG Industries, Eastman Chemical Company, Lord Corporation, Solvay S.A., Clariant and Bayer AG, among others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1   Market definitions

1.2   Market assumptions & forecast parameters

1.3   Appendix

1.4   Data Sources

1.4.1   Primary

1.4.2   Secondary

Chapter 2   Executive Summary

2.1   Europe Automotive Coatings industry summary, 2015 - 2026

2.1.1   Business trends

2.1.2   Technology trends

2.1.3   Product trends

2.1.4   Application trends

2.1.5   End Use trends

2.1.6 Country trends

Chapter 3   Europe Automotive Coatings Industry Insights

3.1   Industry segmentation

3.2   Industry outlook, 2015 - 2026

3.3   Value Chain

3.4   Regulatory overview

3.5   Market factor analysis

3.5.1   Growth drivers

3.5.2   Growth restraints

3.6   Competition review

3.7   Porter’s analysis

3.8   PESTEL analysis

3.9   Impact of COVID-19 on automotive coatings demand by application

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1693/europe-automotive-coatings-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Us:

Parikhit B.

Corporate Sales,

Graphical Research

Phone: 1-800-986-6917

Email: sales@graphicalresearch.com

Web: https://www.graphicalresearch.com

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