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Sales development of the top 5 companies in the European coatings industry 2024
Europe’s five largest paint and coatings manufacturers continue to defend their leading positions – but their growth trajectories vary significantly. While some companies managed to increase their sales, others saw declines. The figures below provide insights into the industry’s long-term development.
Akzo Nobel remains number one
With sales of EUR 10,711 million, Akzo Nobel continues to lead the European market by a wide margin. Compared to the previous year, the company posted only a slight increase of 0.4%. After strong growth through 2022, sales now appear to have stabilised at a high level. Since 2020, Akzo Nobel has increased its paint and coatings sales by over 25%, up from EUR 8,530 million.
BASF: Slight decline despite strong level
BASF Coatings saw a sales decline of 2.05%, from EUR 4,390 million in 2023 to EUR 4,300 million. Despite this, it remains the clear number two in the market. The company showed strong growth up to 2022, followed by a modest correction in the past two years. Over a five-year period, the increase remains impressive at nearly 40%.
Jotun posts robust growth
Jotun once again delivered a strong performance: with sales rising by 6.85% year on year, the Norwegian company reached EUR 2,980 million. Since 2020, this translates to an overall growth of over 50%. Jotun thus ranks third but stands out as one of the most dynamic players in the European market.
Hempel slightly down
Hempel experienced a 7.06% decline in sales, dropping from EUR 2,351 million to EUR 2,185 million. Nevertheless, the company remains firmly in fourth place. Compared to 2020, its sales are still more than 40% higher, which puts the recent dip in perspective.
DAW – steady in the middle
Deutsche Amphibolin-Werke (DAW) generated sales of EUR 1,276 million in 2024 – an increase of 3.07% over the previous year. Since 2020, total growth amounts to around 16%. DAW thus holds its position in fifth place and continues to be one of the leading privately owned paint companies in Europe.
Development at a glance (2020–2024)
| Company | Sales 2020 (EUR million) | Sales 2024 (EUR million) | Change 2020–2024 |
|---|---|---|---|
| Akzo Nobel | 8,530 | 10,711 | +25.6% |
| BASF | 3,089 | 4,300 | +39.3% |
| Jotun | 1,962 | 2,980 | +51.9% |
| Hempel | 1,542 | 2,185 | +41.6% |
| DAW | 1,101 | 1,276 | +15.9% |
These figures demonstrate that Europe’s top 5 coatings manufacturers continue to grow at a high level, albeit at varying speeds. Jotun and BASF in particular have seen strong expansion since 2020, while Akzo Nobel is showing signs of stabilisation. Hempel remains somewhat volatile, and DAW stands out for its steady and consistent performance.
Further insights into Europe’s coatings market:
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Top 25 Coatings Manufacturers in Europe: A detailed overview of the leading players in the European industry, including revenue development and market positioning.
Top 25: Europe’s leading coatings manufacturers 2025 -
Top 10 companies with the strongest sales changes: This analysis highlights the manufacturers with the most significant year-on-year fluctuations – a valuable look at businesses undergoing major transformations.
Top 10 companies with the strongest changes in sales
