The European paints & coatings market is projected to grow from USD 30.6 billion in 2020 to USD 34.3 billion by 2025, at a CAGR of 2.3% between 2020 and 2025.
Economic & demographic growth, increasing residential building activities, growing urbanization, and increase in housing construction expenditure are the important drivers of the European paints & coatings market.
Architectural is projected to be the largest end-use industry, in terms of volume for European paints & coatings. The architectural paints & coatings market is estimated to witness growth due to increasing disposable income and growing demand for interior decoration & beautification in both residential as well as commercial segments. The growing urban population in most of the developing regions is driving the construction industry. Growth in the non-residential sector is mainly due to the growing demand for commercial spaces, such as office space, shopping malls, retail stores, and multiplexes.
Waterborne is projected to be the largest technology segment of European paints & coatings
Waterborne is the largest technology segment, in terms of both value and volume, between 2020 and 2025. Waterborne coatings use water as a solvent, which makes them environmentally friendly and easy to apply. In most cases, waterborne coatings contain up to 80% water with small quantities of other solvents, such as glycol ethers. They are used for many applications such as wood coatings, furniture coatings, plastic coatings, and printing inks. Binders used in waterborne coatings are polyacrylate, polyvinyl ethers, polyurethane, epoxy, and alkyd resins.
Acrylic resin is the fastest-growing segment of the European paints & coatings market
Acrylic is the fastest-growing resin in architectural paint & coating, in terms of volume, between 2020 and 2025. Acrylic is an extensively used resin in architectural coatings as it is a low-cost material that provides water resistance, good stain protection, and good water resistance. Acrylic resins are available as solvents and in water-reducible form and as emulsions. Acrylic paints and coatings are used in a wide range of applications owing to their chemical characteristics and unique esthetic properties. The demand for acrylic paints and coatings is high in automotive, medical device, paints & coatings, and construction industries. These factors are driving the demand for acrylic architectural coatings, globally.
Norway is the fastest market for European paints & coatings during the forecast period
Norway is projected to be the fastest-growing market for European paints & coatings during the forecast period. The number of public investments in the country is expected to increase over the next few years owing to the aging population. Hospitals and nursing homes are expected to become a priority, and various large hospitals are being planned. Furthermore, maintenance of roadways and railways, including metros and new construction, are expected to be major growth drivers for paints and coatings in the country over the next few years. The alignment of various political goals with the overall improvement of infrastructure and transportation facilities to enhance regional connectivity will also boost the demand for paints and coatings in Norway.
The European paints & coatings market has been segmented based on resin type (acrylic, alkyd, epoxy, polyester, polyurethane, fluoropolymer, vinyl, and others), technology (waterborne, solventborne, and powder coating), end-use industry (architectural, industrial), and country. The end-use industry segments are further analyzed for each country. The key companies profiled in this report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), and Axalta Coating System LLC (US).
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.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Paints & Coatings Market 4.2 Europe Paints & Coatings Market, by Resin Type 4.3 Paints & Coatings Market, by End-use Industry and Country 4.4 Paints & Coatings Market Attractiveness, by Key Countries
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Green Environmental Regulations 22.214.171.124 Increasing Demand for Premium Paints 126.96.36.199 High Demand for DIY Paint During the Lockdown Period 188.8.131.52 Availability of Durable Coatings with Better Performance and Esthetics 184.108.40.206 Technological Advancements in Powder Coatings 5.2.2 Restraints 220.127.116.11 Economic Slowdown and Impact of COVID-19 on European Industrial Sectors 18.104.22.168 Decrease in Number of Commercial Aircraft Deliveries 22.214.171.124 Disruption in Supply Chain and Lower Production Utilization due to COVID-19 Pandemic 5.2.3 Opportunities 126.96.36.199 Increasing Demand for Technologically-Advanced Coatings in Automotive and Aerospace Industries 188.8.131.52 Rising Usage of Antimicrobial Coatings in Novel Applications 184.108.40.206 Increasing Paint Consumption Per Capita in Developing Countries in Europe 5.2.4 Challenges 220.127.116.11 Environmental Challenges and Stringent Regulatory Policies 5.3 Porter's Five Forces Analysis 5.4 Regulations 5.5 Pricing Analysis 5.6 Paints & Coatings Ecosystem 5.7 Trade Analysis 5.7.1 Import-Export Scenario of Paints & Coatings in European Market 5.8 Patent Analysis 5.8.1 Methodology 5.8.2 Publication Trends 5.8.3 Top Applicants 5.9 Case Study Analysis 5.1 Technology Analysis
6 Macroeconomic Trends and Impact of COVID-19 6.1 Macroeconomic Overview and Key Trends 6.1.1 Introduction 6.1.2 Trends and Forecast of GDP 6.1.3 Trends and Forecast of Global Automotive Industry 6.2 COVID-19 Impact 6.3 COVID-19 Economic Assessment 6.3.1 COVID-19 Economic Impact - Scenario Assessment
7 COVID-19 Impact on Paints & Coatings Market 7.1 Value Chain of the Paints & Coatings Industry 7.2 Impact on Value Chain 7.2.1 Raw Materials/Suppliers 18.104.22.168 Impact of COVID-19 on Raw Materials and Suppliers 22.214.171.124.1 Resins 126.96.36.199.2 Pigments 188.8.131.52.3 Solvents 184.108.40.206.4 Additives 7.2.2 Paints and Coatings Formulators 220.127.116.11 Impact of COVID-19 on Formulators 7.2.3 Applicators 18.104.22.168 Impact of COVID-19 on Applicators 7.2.4 Distributors 22.214.171.124 Impact of COVID-19 on Distributors 7.2.5 End-use Industries 126.96.36.199 Impact of COVID-19 on End-use Industries 7.3 Customer Analysis 7.3.1 Shift in Automotive Industry 188.8.131.52 Disruption in the Industry 7.3.2 Impact on Customers' Output & Strategies to Resume/Improve Production 184.108.40.206 Impact on Customers' Revenues 220.127.116.11 Most Impacted Countries 18.104.22.168.1 Short-Term Strategies to Manage Cost Structure and Supply Chains 22.214.171.124 New Market Opportunities/Growth Opportunities 126.96.36.199.1 Measures Taken by Customers 188.8.131.52 Customers' Perspective on Growth Outlook 7.4 Shift in Aerospace Industry 7.4.1 Disruption in the Industry 7.4.2 Impact on Customers' Output & Strategies to Resume/Improve Production 7.4.3 Impact on Customers' Revenues 184.108.40.206 Most Impacted Regions 220.127.116.11 Short-Term Strategies to Manage Cost Structure and Supply Chains 7.4.4 New Market Opportunities/Growth Opportunities 18.104.22.168 Customers' Perspective on Growth Outlook 7.5 Shift in Construction Industry
8 Paints & Coatings Market, by Resin Type 8.1 Introduction 8.2 Acrylic 8.2.1 Acrylics Widely Used due to Their Good Appearance, Weatherability, and Electrostatic Characteristics 8.3 Alkyd 8.3.1 Alkyds are Low Cost, Low Toxicity, and Low Surface Tension Resins That Permits Wetting of Most Surfaces 8.4 Epoxy 8.4.1 Epoxy Paints & Coatings are Capable of Curing at Ambient or High Temperatures and Minimal Pressure 8.5 Polyester 8.5.1 Polyester Offers Low Cost, Dimensional Stability, Good Mechanical Strength, and High Chemical Resistance 8.6 Polyurethane 8.6.1 Polyurethane Resin Paints Possess High Durability, Toughness, High Gloss, and are Easy to Clean 8.7 Fluoropolymer 8.7.1 PTFE Coatings Widely Used in Cookware, Scratch-Free Windshield Wiper, Fabric Protectors, and PCB 8.8 Vinyl 8.8.1 Air-Drying Coatings with Vinyl Copolymers Provide Toughness and Good Resistance to Water and Chemicals 8.9 Others
9 Europe Paints & Coatings Market Analysis, by Technology 9.1 Introduction 9.2 Waterborne Technology 9.2.1 Quality and Strength of Waterborne Coatings Dependent on Resin, Additives, and Pigments 9.3 Solventborne Technology 9.3.1 Solventborne Resins Segment Declining as Innovations in this Technology are Limited 9.4 Powder Coating 9.4.1 Growing Requirement for Durable, Better Weathering, and Robust Mechanical Properties Fueling Demand for Powder Coatings 9.5 Others
10 Europe Paints & Coatings Market, by End-use Industry 10.1 Introduction 10.2 Architectural End-use Industry 10.2.1 Economic Growth and Higher Incomes Boosting the Demand for Architectural Coatings 10.2.2 Residential 10.2.3 Non-Residential 10.2.4 Infrastructure 10.3 Industrial 10.3.1 Paints & Coatings Used for Corrosion Control of Steel or Concrete in Numerous Applications 10.3.2 General Industrial 10.3.3 OEM 10.3.3.1 Passenger Cars 10.3.3.2 Commercial Vehicles 10.3.3.3 Heavy-Duty Equipment 10.3.3.4 Rail 10.3.3.5 Aerospace 10.3.3.6 Marine 10.3.4 Wood Coating 10.3.5 Others 10.3.5.1 Protective Coatings 10.3.5.2 Coil Coating 10.3.5.3 Packaging
11 Europe Paints & Coatings Market, by Country 11.1 Introduction 11.2 Germany 11.3 Russia 11.4 France 11.5 UK 11.6 Italy 11.7 Poland 11.8 Turkey 11.9 Spain 11.10 Sweden 11.11 Denmark 11.12 Norway 11.13 Finland 11.14 Lithuania 11.15 Latvia 11.16 Estonia 11.17 Rest of Europe