Europe Paints And Coatings Market Forecast 2017-2024
KEY FINDINGS The Europe paints and coatings market is expected to value at $38,241 million in 2017 and is projected to reach $51,750 million by 2024, growing at a CAGR of 4.42%, during the forecast period 2017-2024. The forecast period for the market is from 2016 to 2025 and the base year deliberated for the market study is 2016. The flourishing automobile industry and growing demand for eco-friendly paints and coatings from automotive industry are the key drivers of automotive paints and coatings market in the Asia Pacific region.
MARKET INSIGHTS The Automotive paints and coatings market is segmented by technology on the basis of Solvent borne, water borne and others. The market is also segmented by coat type on the basis of base coat, Electro coat, Clear coat and primer. The market is further segmented by vehicle on the basis of Passenger cars, light commercial vehicles and heavy commercial vehicles. The markets shift towards Nano paints and increasing demand for custom made paints and contemporary automotive paints and coatings may widen the scope of automotive paints and coatings market.
COMPETITIVE INSIGHTS The key players in the automotive paints and coatings market are Akzo Nobel, BASF Coatings, Nippon Paints, Axalta Coating Systems and Kansai Paints, PPG Industries.