Annual survey: Basically Satisfied
Challenging. This would probably best describe 2019 when it comes to the perception of the participants in the European Coatings Journal’s Annual Survey. A total of 19 managers of paint and coatings producing companies in Europe and the Middle East explained how their businesses have performed during the last twelve months.
Although the picture is mixed, the overall rating comes to a positive result. Most of the surveyed companies have met their targets and speak of a satisfactory business performance. Nevertheless, the past year has been a challenging one for the enterprises in the coatings industry. Especially the second half in 2019 showed a weaker business performance.
Bundle of challenges to have an impact in 2020
This development leads to an uncertain outlook for the global economy in 2020 by the managers of the paint and coatings producers. Geopolitical tensions are expected to further impact the companies’ businesses: the customs dispute between the USA and Europe, the trade conflict between USA and China, as well as the ongoing uncertainities and challenges linked to Brexit.
Additionally, the paint and coatings producers are facing a lot of pressure from the regulatory side, which has developed into a huge burden for the enterprises over the last years. Another challenge will be the so-called battle for talents and skilled workers. This topic is a recurring theme, such as regulatory pressures.
By Damir Gagro