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.
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.
Breakdown of Primary Interviews: • By Company Type: Tier 3 – 33%, Tier 2 – 24%, and Tier 1 – 43% • By Designation: C Level Executives – 26%, Directors – 36%, and Others – 38% • By Region: Western Europe – 57%, Eastern Europe – 29%, and Central Europe – 14%
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).
Research Coverage: 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.
Reasons to Buy the Report From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on European paints & coatings offered by top players in the market • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market • Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for European paints & coatings across regions • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the market.
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