Market study paints and coatings in Europe
Architectural paints are the largest application area of paints and coatings. Residential construction has a rising demand for facade and interior wall paints, yet, large commercial construction and infrastructure projects provide for a positive development of revenues. The market researchers of Ceresana forecast that about 58% of all paints and coatings will be utilised in the construction industry in 2025. Application for industrial goods is decisively affected by the economic situation of individual countries. In this segment, Ceresana expects a growth of European demand for paints and coatings by, on average, 1.4% per year.
Several innovations in transportation segment
Another important application is the transportation segment. This industry is characterised by several innovations such as finishes offering thermal insulation or self-healing effects. Production and upstream manufacturing processes are being relocated from Western European to Eastern European countries, due to more favorable general conditions; research and development, on the other hand, remain in Western European countries.
Product Diversity on the Market for Paints and Coatings
Besides the division by various application areas, the market report also analyses the demand per product type: ranging from paints and coatings based on acrylics, vinyl, alkyd, epoxy, polyurethane (PUR), and polyester up to products based on other materials. Paints and coatings based on acrylics and vinyl account for the largest share of the European market: the share amounts to about 53%. Not included in this study are coating materials, such as mortar, plaster, diluter, printing ink, textile dyes, and food coloring.
Waterborne Products Gain Shares
The increased focus on sustainability and environmental protection in Europe supports consumption of waterborne paints and coatings as well as other environmentally friendly alternatives. Waterborne paints and coatings are currently already accounting for a share of about 58% of the total European market.
The study is available via the website of Ceresana.