Jan 13, 2021   SOURCE: BusinessWire

Paints & Coatings Market by Resin, Technology, Application and Country - European Forecast to 2025 - ResearchAndMarkets.com

The "European Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solvent-borne, Powder), Application (Architectural, Industrial), and Country - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The European paints & coatings market is projected to grow from USD 30.6 billion in 2020 to USD 34.3 billion by 2025, at a CAGR of 2.3% between 2020 and 2025.

Economic & demographic growth, increasing residential building activities, growing urbanization, and increase in housing construction expenditure are the important drivers of the European paints & coatings market.

Architectural is projected to be the largest end-use industry, in terms of volume for European paints & coatings. The architectural paints & coatings market is estimated to witness growth due to increasing disposable income and growing demand for interior decoration & beautification in both residential as well as commercial segments. The growing urban population in most of the developing regions is driving the construction industry. Growth in the non-residential sector is mainly due to the growing demand for commercial spaces, such as office space, shopping malls, retail stores, and multiplexes.

Waterborne is projected to be the largest technology segment of European paints & coatings

Waterborne is the largest technology segment, in terms of both value and volume, between 2020 and 2025. Waterborne coatings use water as a solvent, which makes them environmentally friendly and easy to apply. In most cases, waterborne coatings contain up to 80% water with small quantities of other solvents, such as glycol ethers. They are used for many applications such as wood coatings, furniture coatings, plastic coatings, and printing inks. Binders used in waterborne coatings are polyacrylate, polyvinyl ethers, polyurethane, epoxy, and alkyd resins.

Acrylic resin is the fastest-growing segment of the European paints & coatings market

Acrylic is the fastest-growing resin in architectural paint & coating, in terms of volume, between 2020 and 2025. Acrylic is an extensively used resin in architectural coatings as it is a low-cost material that provides water resistance, good stain protection, and good water resistance. Acrylic resins are available as solvents and in water-reducible form and as emulsions. Acrylic paints and coatings are used in a wide range of applications owing to their chemical characteristics and unique esthetic properties. The demand for acrylic paints and coatings is high in automotive, medical device, paints & coatings, and construction industries. These factors are driving the demand for acrylic architectural coatings, globally.

Norway is the fastest market for European paints & coatings during the forecast period

Norway is projected to be the fastest-growing market for European paints & coatings during the forecast period. The number of public investments in the country is expected to increase over the next few years owing to the aging population. Hospitals and nursing homes are expected to become a priority, and various large hospitals are being planned. Furthermore, maintenance of roadways and railways, including metros and new construction, are expected to be major growth drivers for paints and coatings in the country over the next few years. The alignment of various political goals with the overall improvement of infrastructure and transportation facilities to enhance regional connectivity will also boost the demand for paints and coatings in Norway.

Market Dynamics

Drivers

  • Green Environmental Regulations
  • Increasing Demand for Premium Paints
  • High Demand for DIY Paint During the Lockdown Period
  • Availability of Durable Coatings with Better Performance and Esthetics
  • Technological Advancements in Powder Coatings

Restraints

  • Economic Slowdown and Impact of COVID-19 on European Industrial Sectors
  • Decrease in Number of Commercial Aircraft Deliveries
  • Disruption in Supply Chain and Lower Production Utilization due to COVID-19 Pandemic

Opportunities

  • Increasing Demand for Technologically-Advanced Coatings in Automotive and Aerospace Industries
  • Rising Usage of Antimicrobial Coatings in Novel Applications
  • Increasing Paint Consumption Per Capita in Developing Countries in Europe

Challenges

  • Environmental Challenges and Stringent Regulatory Policies

Companies Mentioned

  • AkzoNobel N.V.
  • Axalta Coating System LLC
  • BASF Coatings GmbH
  • Beckers Group
  • Brillux GmbH & Co. KG
  • Corporacao Industrial Do Norte
  • Cromology (Formerly Materis Paints)
  • DAW SE
  • Flugger Group A/S
  • Hempel A/S
  • IVM Chemicals
  • Jotun A/S
  • Kansai Paints Co. Ltd.
  • Mankiewicz Gebr. & Co.
  • Meffert AG Farbwerke
  • PPG Industries
  • Remmers
  • RPM International Inc.
  • Sherwin-Williams Company
  • STO Corp.
  • Teknos Group
  • Tiger Coatings GmbH & Co. KG
  • Tikkurila Oyj
  • Weilburger
  • Worwag

For more information about this report visit https://www.researchandmarkets.com/r/459s6l