According to a recent study from market research firm Graphical Research, the Europe automotive paints & coatings Market size is set to register a significant growth during the forecast timeframe. Europe automotive paints & coatings market forecast is primarily driven by changing customer tastes toward improving vehicle appearances. Because of the high depreciation rate of new vehicles, easy financing options, and much cheaper costs of used cars, there is a growing predisposition toward the acquisition of pre-owned cars, which is opening up new prospects from refinishing paint & coating applications.

In order to create brand awareness and set a foothold in the industry, key industry players are focusing on various marketing strategies, including product development, mergers and acquisitions, and collaborations. PPG, for example, announced the acquisition of Cetelon Lackfabrik GmbH, a maker of automotive coatings and light truck wheels, in April 2021. The acquired firm develops and manufactures a wide range of wheel coating solutions, including proprietary technology. It has production and sales headquarters in Germany, from where it serves several of the world's top wheel suppliers.

BASF SE, 3M, Axalta Coating Systems, PPG Industries Inc., AkzoNobel N.V., Sherwin-Williams Company, and Eastman Chemical Company are among the leading automotive paints & coatings companies in Europe.
Germany automotive paints and coatings industry size is expected to reach USD 480 million by 2026. With significant manufacturing facilities, the nation is an automobile hub comprising of some leading automakers worldwide. The regional government is fully committed to environmental sustainability, with significant subsidies on electric car and plug-in hybrid vehicle sales, which are driving the automotive paints and coatings industry trends. According to the 2030 Climate Action Programme, the government intends to have up to 10 million EVs and 1 million charging stations on German roadways by 2030. Several EV incentives have been extended or introduced in order to meet this goal.

The market share from the polyurethane-based coating is anticipated to expand at a rate of 6.5% CAGR through 2026 in Europe. Several automobile manufacturers employ polyurethane-based coatings because of their outstanding solvent resistance, weather ability, and mechanical characteristics.

The matte texture accounted for $75 million share of Europe automotive paints & coatings market in terms of sales during 2019. This texture is popular due to its non-reflective and flat look, as well as sandy and rough textures. Several automobile manufacturers, including Lexus, Hyundai, and others, are providing matte textures on recently released vehicles, including Lexus' special edition GS F and RCF. The preference for this texture is increasing amongst consumers in the automotive aftermarket, where several participants are offering custom matte-paint jobs.
Europe automotive paints & coatings industry share from the powder coating technology is anticipated to expand at a significant rate of about 5.6% CAGR up to 2026. Because of its excellent quality, cost-effectiveness, environmental friendliness, rapid paint applicability, convenience of use, as well as the refinement of paint application methods, powder coating technology is a preferred choice for a range of automotive part end-use applications.

The customer inclination toward sustainable powder coating technologies and products is growing. In 2020, PPG released a number of ecologically friendly new products, such as the PPG ENVIROCRON HTE Max severe corrosion polyester powder topcoat, which protects large truck wheels as well as agricultural, heavy-duty, and industrial equipment.

Several regional economies like Russia, France, and others, are experiencing a significant rise in new passenger car sales. Automobile manufacturers have transitioned from conventional gasoline to electric-powered car production, and significant expenditures in this endeavor are major future developments in the automotive sector. Ford stated in February 2021 that it will invest around USD 1 billion to achieve electrified passenger car manufacturing by 2030. Owing to the growing number of car registrations, the passenger car segment is expected to account for a substantial share of the automotive paints and coatings industry in Europe through 2026.

Source: https://www.graphicalresearch.com/industry-insights/1940/europe-automotive-paints-coatings-market