According to the research report titled ‘Europe Automotive Paints & Coatings Market Forecast 2026 By Texture, By Vehicle Type, By Coating Type, By Technology, By Distribution Channel, By Raw Material, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe automotive paints & coatings market is anticipated to be worth USD 2.72 billion by the year 2026.
 

The growth of Europe automotive paints & coatings market is attributed to shifting preference of customers towards improving vehicle appearance, and growing interest towards pre-owned cars due to cheaper cost & easy finance options.
 

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On the basis of basis of vehicle type, the industry is divided into HCV, LCV, and PCV. In terms of coating type, the market is classified into electrocoat, clearcoat, basecoat, and primer. Based on distribution channel, the marketplace is bifurcated into OEM, and aftermarket.
 

By technology, powder coating segment is expected to grow with a 5.6% CAGR through 2026, due to features like outstanding quality, cost-effectiveness, environmental friendliness, rapid paint applicability, and ease of use, along with refinement of paint application processes.
 

With respect to texture, the matte segment of Europe automotive paints & coatings market accounted for USD 75 million in 2019. This texture is gaining popularity for its non-reflective and flat look as well as sandy & rough feels.
 

In regards with raw material, the polyurethane segment share is projected to record a y-o-y growth rate of 6.5% through 2026, because of its superior solvent resistance, weatherability, and mechanical properties.
 

Regionally speaking, German automotive paints & coatings industry is anticipated to be worth USD 480 million by the year 2026. The country is an automobile hub, with substantial production facilities and some of the world's leading automakers. Collective consciences for environment sustainability, in consort with subsidies for electric car and hybrid vehicle purchases are stimulating the industry growth.
 

The key industry players profiled in the report are Sherwin-Williams Company, PPG Industries, Inc., KCC Corporation, Kansai Paint Co. Ltd., Eastman Chemical Company, DuPont de Nemours, Inc., Covestro AG, Clariant AG, Cabot Corporation, 3M Company, Axalta Coating Systems Ltd., Akzo Nobel N.V., and BASF SE.