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 Type6.1 Introduction6.2 Acrylic Resin6.2.1 Extensive Application of Acrylic Paints and Coatings to Drive Acrylic Resin Market6.3 Alkyd Resin6.3.1 Outstanding Mechanical Qualities and Superior Dyeing Speed of Alkyd Resin to Boost Alkyd Resin Market6.4 Epoxy Resin6.4.1 Growing Demand for High-Performance Thermosetting Resins to Drive Market for Epoxy Paints and Coatings6.5 Polyester Resin6.5.1 Rising Demand for Coatings with Outstanding Mechanical Properties to Boost Market for Polyester Resin6.6 Polyurethane Resin6.6.1 Growing Demand for Effective Coating Materials from Textile Sector to Drive Market for Polyurethane Resin6.7 Fluoropolymer Resin6.7.1 Increasing Adoption of Non-Stick Surface Coating Materials to Propel Market for Fluoropolymer Resin6.8 Vinyl Resin6.8.1 Growing Adoption of Water-Based Coatings in Architecture Sector to Drive Market for Vinyl Resin6.9 Other Resin Types

7 European Paints & Coatings Market, by Technology7.1 Introduction7.2 Waterborne7.2.1 Adoption of Environmental-Friendly Raw Materials to Drive Market for Waterborne Coatings7.3 Solventborne7.3.1 Growing Need for High-Performance Coating Applications to Drive Demand for Solventborne Coatings7.4 Powder7.4.1 Preference for Superior-Quality and Cost-Efficient Coatings to Boost Growth of Powder Coatings Market7.5 Other Technologies

8 European Paints & Coatings Market, by End-Use Industry8.1 Introduction8.2 Architectural8.2.1 Rising Popularity of Architectural Aesthetics to Boost Demand for Architectural Coatings8.2.2 Residential8.2.3 Non-Residential8.2.4 Infrastructure8.3 Industrial8.3.1 Rising Adoption of Corrosion-Free Coatings to Drive Growth of Industrial Coatings Market8.3.2 General Industrial8.3.2.1 Rising Demand for Powder-Coated Products by Homeowners to Drive Usage of Coatings for General Industrial Purposes8.3.3 OEM8.3.3.1 Growing Sales of Passenger and Commercial Vehicles to Boost Adoption of Automotive Oem Coatings8.3.3.2 Passenger Cars8.3.3.3 Commercial Vehicles8.3.3.4 Heavy-Duty Equipment8.3.3.5 Rail8.3.3.6 Aerospace8.3.3.7 Marine8.3.4 Wood8.3.4.1 Increase in Construction and Infrastructure Activities to Drive Demand for Coatings in Wood Industry8.3.5 Other End-Use Industries

9 European Paints & Coatings Market, by Country

10 Competitive Landscape

11 Company Profiles

12 Adjacent/Related Markets

13 AppendixCompanies 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

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