European Paints and Coatings Market Report 2023: High Demand for Sustainable Coatings from Professional and DIY Industries Bolsters Growth

DUBLIN, May 31, 2023 /PRNewswire/ -- The "European Paints and Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyester, PU, Fluoropolymer, Vinyl), Technology (Waterborne, Solvent borne, Powder), End-use (Architectural and Industrial), and Country - Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering.

The European Paints and Coatings market is projected to grow from USD 37.2 Billion in 2023 to USD 41.6 Billion by 2028, at a CAGR of 2.3% between 2023-2028.

The challenges related to the European Paints and Coatings market are stringent environmental regulations. With the increasing number of regulatory policies adopted by various governments, paints & coatings producers in the region have to improve their processes to comply with the new policies constantly.

Acrylic resin is estimated to be the largest growing segment in the architectural end-use industry

Acrylics are available in various forms, such as emulsions (latex), lacquers, enamels, and powders, out of which the most common form is acrylic latex. The chief acrylic polymers are acrylic and methacrylic acid, which provide a polymer structure with little tendency to absorb UV light and increase their resistance to weathering and oxidation compared to oil-based paints, alkyds, or epoxies. Acrylics possess good colors and gloss retention.

Acrylic in powder coatings ranges from thin-film clear coats to very smooth coats and provides a high-performance finish with outstanding weather resistance and high-gloss colors, making them ideal for outdoor applications with excellent exterior durability. Acrylic coatings are waterborne, easy to handle, moderately priced, and perform well in various applications such as roof and wall coating. They are cured by water evaporation, exhibiting a reasonable degree of cohesive strength, and provide good adhesion to most roof surfaces. These resin-based coatings are used in numerous architectural applications.

Polyurethane resin to gain the maximum market share of Industrial End-use industry during the forecast period

Polyurethane resins are created by combining polyalcohol with organic di-isocyanate. Polyurethane resin paints have exceptional durability, toughness, and gloss and are easy to clean. Polyurethane resin paints are employed in a variety of applications around the world because of their qualities. Polyurethane paints are also employed in applications requiring great performance, such as oil-rig towers, warehouses, industrial plants, heat-resistant coatings, and bridges. Heavy-duty exterior and interior structural coating, clean rooms, paper mills, power plants, offshore structures, oil field machinery, outside surfaces of steel tanks, handrails, conveyors, and chemical processing equipment are some further applications for polyurethane resin paints and coatings.

Germany is estimated to be the largest and fastest-growing segment of the European Paints and Coatings market

The automotive industry raised the demand for paints and coatings in the country. According to OICA, it has produced 212,527 light commercial vehicles and 3,096,165 passenger cars. The German automotive sector creates +60% R&D growth in Europe. The automotive industry generates 24% of total domestic industry revenue. 77% of cars manufactured in Germany in 2021 were destined for export markets. The industry is bouncing back from the pandemic as well as the economic recession, with the largest concentration of OEM plants in Europe. There are currently 44 OEM sites located in Germany. German OEM market share in the EU was more than 55 percent in 2021. German passenger car and light commercial vehicle OEM generated foreign market revenue of almost EUR 274 billion (USD 302.11 billion) in 2021 - a ten percent increase over 2020.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and sub-segments.

Market Dynamics

Drivers

• Increasing Demand for Premium Paints
• High Demand for Sustainable Coatings from Professional and DIY Industries
• Rising Demand for Durable Coatings with Better Performance and Aesthetics
• Technological Evolution in Powder-Based Coatings

Restraints

• Requirement of More Curing Time for Waterborne Paints and Coatings
• Trouble Attaining Thin Films with Powder Coating

Opportunities

• Increased Utilization of Fluoropolymers in Building and Construction Industry
• Attractive Prospects for Powder Coatings in Ev Industry

Challenges

• Stringent Environmental Regulations
• Challenges Concerning Wastewater Disposal

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 European Paints & Coatings Market, by Resin Type
6.1 Introduction
6.2 Acrylic Resin
6.2.1 Extensive Application of Acrylic Paints and Coatings to Drive Acrylic Resin Market
6.3 Alkyd Resin
6.3.1 Outstanding Mechanical Qualities and Superior Dyeing Speed of Alkyd Resin to Boost Alkyd Resin Market
6.4 Epoxy Resin
6.4.1 Growing Demand for High-Performance Thermosetting Resins to Drive Market for Epoxy Paints and Coatings
6.5 Polyester Resin
6.5.1 Rising Demand for Coatings with Outstanding Mechanical Properties to Boost Market for Polyester Resin
6.6 Polyurethane Resin
6.6.1 Growing Demand for Effective Coating Materials from Textile Sector to Drive Market for Polyurethane Resin
6.7 Fluoropolymer Resin
6.7.1 Increasing Adoption of Non-Stick Surface Coating Materials to Propel Market for Fluoropolymer Resin
6.8 Vinyl Resin
6.8.1 Growing Adoption of Water-Based Coatings in Architecture Sector to Drive Market for Vinyl Resin
6.9 Other Resin Types

7 European Paints & Coatings Market, by Technology
7.1 Introduction
7.2 Waterborne
7.2.1 Adoption of Environmental-Friendly Raw Materials to Drive Market for Waterborne Coatings
7.3 Solventborne
7.3.1 Growing Need for High-Performance Coating Applications to Drive Demand for Solventborne Coatings
7.4 Powder
7.4.1 Preference for Superior-Quality and Cost-Efficient Coatings to Boost Growth of Powder Coatings Market
7.5 Other Technologies

8 European Paints & Coatings Market, by End-Use Industry
8.1 Introduction
8.2 Architectural
8.2.1 Rising Popularity of Architectural Aesthetics to Boost Demand for Architectural Coatings
8.2.2 Residential
8.2.3 Non-Residential
8.2.4 Infrastructure
8.3 Industrial
8.3.1 Rising Adoption of Corrosion-Free Coatings to Drive Growth of Industrial Coatings Market
8.3.2 General Industrial
8.3.2.1 Rising Demand for Powder-Coated Products by Homeowners to Drive Usage of Coatings for General Industrial Purposes
8.3.3 OEM
8.3.3.1 Growing Sales of Passenger and Commercial Vehicles to Boost Adoption of Automotive Oem Coatings
8.3.3.2 Passenger Cars
8.3.3.3 Commercial Vehicles
8.3.3.4 Heavy-Duty Equipment
8.3.3.5 Rail
8.3.3.6 Aerospace
8.3.3.7 Marine
8.3.4 Wood
8.3.4.1 Increase in Construction and Infrastructure Activities to Drive Demand for Coatings in Wood Industry
8.3.5 Other End-Use Industries

9 European Paints & Coatings Market, by Country

10 Competitive Landscape

11 Company Profiles

12 Adjacent/Related Markets

13 Appendix

Companies Mentioned

• Akzo Nobel N.V.
• Axalta Coating Systems LLC
• Basf Coatings GmbH
• Beckers Group
• Brillux GmbH & Co. Kg
• Corcorporacao Industrial Do Norte
• Cromology (Nippon Paint Holdings Co., Ltd.)
• DAW Se
• Flugger Group A/S
• Freilacke
• Hempel A/S
• IVM Chemicals
• Jotun A/S
• Kansai Paint Co., Ltd
• Mankiewicz Gebr. & Co.
• Meffert AG Farbwerke
• Mipa Se
• PPM Industries, Inc.
• Remmers
• RPM International Inc.
• STO Corp.
• Teknos Group
• The Sherwin-Williams Company
• Tiger Coatings GmbH & Co. Kg
• Weilburger Coatings GmbH

For more information about this report visit https://www.researchandmarkets.com/r/i06gs3

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

21%

more press release views with 

Request a Demo