Europe Paints and Coatings Market Insights Forecasts to 2032

• The Europe Paints and Coatings Market Size was valued at USD 33.65 Billion in 2022.
• The Market is growing at a CAGR of 3.7% from 2022 to 2032.
• The Europe Paints and Coatings Market Size is expected to reach USD 48.59 Billion by 2032.
• Europe is expected to grow the fastest during the forecast period.

The Europe Paints and Coatings Market Size is expected to reach USD 48.59 Billion by 2032, at a CAGR of 3.7% during the forecast period 2022 to 2032.

Market Overview

Paint is described as a dispersion or mixture of invisible colors or granules in a liquid or medium. Coatings, on the other hand, comprise various compounds that can be called paint-like in their application, such as varnishes and artificial adhesives. Furthermore, paints are chemicals used for enhancing the aesthetics of the surface to which they are applied, whereas coatings are primarily employed as safeguards against surface deterioration or corrosion-related damage. Paints and coatings offer specialized features such as anti-fouling, flame retardancy, and anti-microbial capabilities in architectural, industrial, transportation, aviation, and various other industries. Recent Developments in production methods and chemical research have culminated in a virtually limitless number of paint and coating possibilities, which presents both benefits and challenges. The increased need for environmentally friendly coatings from the professional painting and do-it-yourself industries will drive up the demand for the Europe paints and coatings market.

Report Coverage

This research report categorizes the market for Europe Paints and Coatings Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe Paints and Coatings Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Europe Paints and Coatings Market.

Driving Factors

Sophisticated curing procedures, powder coating materials, and their particular applications have increased the usage of powder coatings on heat-sensitive substrates due to technological improvements in paint and coating to improve its attributes by making it safe and sustainable. Furthermore, powder coatings have solved the coating failure problem, extending the life of a coated property. Hyper-durable powder coating technology is now well-equipped to compete in the high-performance architectural market for skyscrapers and other massive construction goods.

Additionally, the expansion of the construction industry across different countries, in conjunction with increased EU funding, as well as supportive measures such as funding, tax reductions, and incentives implemented by multiple governments, is expected to boost the region's construction industry's development. As a result, further increasing the demand for paints and coatings in Europe is expanding.

The producers have been forced to utilize low-solvent and solventless technology since the coatings sector is one of the most closely regulated in Europe due to various industrial sectors. Coating producers abound, although the vast majority are tiny regional firms, with approximately ten or more major corporations. Furthermore, the European market has been extremely active post-Brexit, and the paints and coatings market is expected to be impacted because the UK is a big market for paints and coatings.

In addition, growing awareness of powder coatings as an environmentally benign option with low-VOC and zero hazardous components creates an appealing opportunity in the commercial coating market. likewise, rising populations, combined with accelerated urbanization, have fueled the explosive development of the architecture and construction sectors in both developed and developing economies such as Germany, the United Kingdom, France, Italy, Spain, Sweden, and others where paints and coatings have been utilized for flooring, wall finishing, and roofing applications. Furthermore, Germany has the highest economic growth in Europe and the fourth-biggest in the world. It is Europe's most industrially advanced and urbanized nation. The number of consumers purchasing new automobiles is steadily increasing as the economy improves, demonstrating buyer trust, which is projected to benefit Europe paints and coatings market over the projection period.

Market Segment

• In 2022, the acrylic segment is expected to hold the largest share of Europe paints and coatings market during the forecast period.

Based on the resin type, the Europe Paints and Coatings Market is classified into acrylic, alkyd, epoxy, polyester, polyurethane, fluoropolymer, vinyl, and others. Among these, the acrylic segment is expected to hold the largest share of the Europe paints and coatings market during the forecast period. Acrylics are available in many different forms, which include latex emulsions, lacquers, enamels, and powders. The most widely used kind of acrylic paint is latex acrylic paint. The major components of acrylic polymer, acrylic, and methacrylic acid, offer a polymer architecture with a reduced capacity to be susceptible to UV radiation, allowing acrylics more immune to weathering and deterioration than oil-based paints, alkyds, or epoxies. Acrylics are well-known for their vivid hues and long-lasting luster.

• In 2022, the powder coating segment is witnessing a higher growth rate over the forecast period.

On the basis of technology, the Europe Paints and Coatings Market is segmented UV-cured coating, waterborne, solvent borne, and powder. Among these, the powder coating segment is witnessing a higher growth rate over the forecast period. Powder-based coatings are classified into two different categories, which include thermosets and thermoplastics. Being that no petroleum-based solvents are utilized in the coating formulation, powder coatings present an appealing potential for pollution avoidance. These have excellent transfer efficiency and produce no toxic waste.

• In 2022, the architectural segment accounted for the largest revenue share of more than 42.3% over the forecast period.

On the basis of industry verticals, the Europe Paints and Coatings Market is segmented into commercial, residential, architectural, industrial, and others. Among these, the architectural segment dominates the market with the highest revenue share of 42.3% over the forecast period. Architectural coatings are utilized in a variety of applications, including production facilities, corporate headquarters, storage facilities, convenience stores, retail establishments, and shopping malls, as well as residential properties. These coatings, which include sealers or specialist materials, can be applied to both the outside and inside surfaces. The sustained economic growth and its good consequences for company earnings, household income, and the status of public finances are driving developments in the building sector. Construction activity in nations such as Germany, France, the United Kingdom, and others is likely to boost market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe Paints and Coatings Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BASF Coatings GmbH
• The Sherwin-Williams
• Axalta Coating Systems LLC
• Akzo Nobel NV
• Jotun A/S
• PPG Industries, Inc.
• Hempel A/S
• Beckers Group
• RPM International Inc.
• Shawcor
• Sika Ag
• Teknos Group
• Henkel AG & Co. KGaA
• Jotun
• J.W. Ostendorf
• Kansai Paints Co. Ltd.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• On April 2023, Akzo Nobel is strengthening its China foothold by acquiring Sherwin-Williams' Chinese Decorative Paints division. Sherwin-Williams refers to this as the Chinese Architectural Paint business.

• On February 2023, Kansai Helios Coatings GmbH, a Kansai Paint Co., Ltd. European consolidated subsidiary completed its acquisition of CWS Lackfabrik GmbH. This acquisition for KANSAI HELIOS is an excellent complement and extension of the company's expertise in powder coatings and synthetic resins, and it will further boost the Kansai Paint Group's competitiveness.

• In November 2022, Ankush Enterprise formed a relationship with Hexigone Inhibitors to promote the company's technology throughout the Indian Paint & Coatings Market. Ankush Enterprise is one of the region's major exporters of specialized chemicals, with 25 years of experience delivering technological solutions to a variety of industries.

• In July 2022, Akzo Nobel announced a EUR 20 million investment to expand and boost production at two of its French plants. A total of EUR 15 million will be invested in the company's aerospace coatings facility in Pamiers, which was acquired by Mapaero in 2019. The remaining EUR 5 million will be used to improve production flexibility at the decorative paints site in Montataire, which is one of the company's most important wall paint manufacturing facilities in Europe.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the Europe Paints and Coatings Market based on the below-mentioned segments:

Europe Paints and Coatings Market, By Resin Type

• Acrylic
• Alkyd
• Epoxy
• Polyester
• Polyurethane
• Fluoropolymer
• Vinyl
• Others

Europe Paints and Coatings Market, By Technology

• UV-cured Coating
• Waterborne
• Solvent Borne
• Powder  

Europe Paints and Coatings Market, By Industry Verticals

• Commercial
• Residential
• Architectural
• Industrial
• Others

Europe Paints and Coatings Market, By Country

• Germany
• Uk
• France
• Italy
• Spain
• Sweden
• Rest of Europe