European Paints & Coatings Market worth $34.3 billion by 2025 - Exclusive Report by MarketsandMarkets™

The key players profiled in the European paints & coatings market report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), and Axalta Coating System LLC (US).

(EMAILWIRE.COM, October 06, 2021 ) The report "European Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural, Industrial), and Country - Global Forecast to 2025" The European paints & coatings market size will grow to USD 34.3 billion by 2025 from USD 30.6 billion in 2020, at a CAGR of 2.3% during the 2020-2025 period. The resurgence in the growth of the housing and construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income are driving the paints & coatings market.

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Polyurethane resin segment is projected to be the largest segment of the European paints & coatings market.
Polyurethane resin paints possess properties such as high durability, toughness, high gloss, and are easy to clean. Polyurethane paints are also used where high performance is expected, such as oil-rig towers, warehouses, industrial plants, heat-resistant coatings, and bridges. Polyurethane paints are used in wood coatings, aircraft coatings, and construction. Other applications where polyurethane resin paints and coatings can be used are heavy-duty exterior and interior structural coating, clean rooms, paper mills, power plants, offshore structures, oil field machinery, exterior surfaces of steel tanks, handrails, conveyors, and chemical processing equipment.

Industrial is the fastest-growing end-use industry segment of the European paints & coatings market.
Industrial is projected to be the fastest-growing end-use industry of European paints & coatings. An industrial coating or paint is typically defined by its protective rather than its aesthetic properties, although it often provides both. They are used for corrosion control of steel or concrete in numerous applications. Industrial application is segmented into general industrial, automotive OEM, automotive refinish, wood, protective, marine, coil, packaging, aerospace, and others.

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Germany is the largest European paints & coatings country in Europe.
Germany is the most technologically advanced industrial coatings market both in Europe and globally. It is dominating the industrial coatings market in Europe owing to the strong domestic demand, growing demand from the developed automotive industry, increasing uses of corrosion coatings, and growing environmental awareness. Germany is a highly industrialized country and is one of the key industrial coatings markets. The country has been leading the chemical industry in Europe as well as in the world. It is home to several industrial coating manufacturers. Owing to the presence of major manufacturers such as BASF and PPG, it is currently the largest producer of industrial coatings in Europe.

The key players profiled in the European paints & coatings market report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), and Axalta Coating System LLC (US).

COVID-19 Impact on the European Paints & Coatings Market
The outbreak of COVID-19 has disrupted the production of raw materials used in paints and coatings manufacturing. Countries such as Germany, Russia, France, the UK, and Italy are the hubs for paints and coatings manufacturing and major suppliers of these raw materials. The outbreak of coronavirus in Europe has affected the supplies of these raw materials. The break in the supplies of raw materials has reduced the production of paints and coatings products.

Automotive is among the worst-hit industry due to the closure of showrooms and the global economic crises. The demand for personal cars and commercial vehicles has been drastically down due to economic turmoil. Consumers are also canceling already placed pre-orders. All these factors have negative impacts on the paints & coatings business.

The building & construction industry has been significantly impacted by the pandemic, which is likely to continue till 2021. COVID-19 is impacting the global building & construction industry with projects facing labor shortages, supply chain issues, and financing pressures. Commercial builders, due to the scarce availability of raw materials, must bear higher material costs and slower project completion. In countries such as Spain, France, and Germany, the guidelines from the Union Ministry of Home Affairs (MHA) allowed construction activities to continue, provided social distancing norms were followed by all personnel on-site.

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