Europe Paints and Coatings Market Share, Revenue, Trends, Scope, Key Players, CAGR Status, Business Challenges and Growth Opportunities Till 2033


Europe Paints and Coatings Market Share, Revenue, Trends, Scope, Key Players, CAGR Status, Business Challenges and Growth Opportunities Till 2033: SPER Market Research

 Category : Chemical & Materials

 Published: Jan-2024
 Author: SPER Analyst

Europe Paints and Coatings Market is projected to be worth USD 50.39 Billion by 2033 with a CAGR of 3.7%.

The terms "paint" and "coating" describe a class of materials that are frequently applied to the exterior of specific items in order to shield them from oxidation and solar exposure. In addition to serving utilitarian and aesthetic functions, this covering also helps to prolong the object's lifespan.

Europe Paints and Coatings Market Driving Factors and Challenges

Technological developments in paint and coating processes, especially with regard to powder coatings, have made it easier to use these materials on substrates that are heat-sensitive, improving sustainability and safety. Particularly in high-performance architectural projects, these improvements extend the lifespan of coated buildings by addressing coating failure issues. The expansion of the building sector in Europe is fueled by government incentives and EU financing, which raises the need for paints and coatings in the region. The European coatings industry has been compelled to embrace low-solvent and solventless technology by strict legislation. Complicating matters after Brexit is the UK's importance in the paint and coatings industry. Furthermore, the growing acceptance of powder coatings due to its acknowledged environmental advantages and the economic expansion of countries such as Germany is driving demand for these materials in applications such as roofing, wall finishing, and flooring. The European paints and coatings business is further supported by rising automotive sales in Germany.

CHALLENGES: Waterborne coatings require a longer drying and curing time than solvent-borne coatings. Aqueous coatings also have good flow characteristics that change with humidity, which affects how the coating is applied. High humidity prevents water from evaporating easily, which results in a poor cure and decreased effectiveness. Paints that are applied with water are also vulnerable to low temperatures. Many aqueous coatings become useless after freezing. The market for paints and coatings will face obstacles due to this aspect.

Manufacturers of paints and coatings need to continuously improve their procedures to comply with the increasing number of government-imposed regulatory requirements. Products that do not meet the legal requirements are prohibited because of the strict environmental regulations. The paints and coatings market growth rate is challenged by these strict standards, which also lead to longer approval times.

Impact of COVID-19 on Europe Paints and Coatings Market
Because of the decreased demand from around the world, the coronavirus outbreak had a major effect on the paint and coatings sector, especially on the Chinese economy. Growth rates fell precipitously as a result of the epidemic, which also raised credit stress and market uncertainty. Restrictions on movement throughout Europe seriously disrupted a number of sectors. Lockdowns affected labour and slowed down industries like electronics, automotive, and construction by stopping business and industrial operations. Nonetheless, the sector is anticipated to recover as regulatory agencies progressively ease restrictive regulations. By the end of the forecast period, several segments, like antimicrobial coatings in food and healthcare, will have experienced rapid market expansion due to the support of worldwide investments.

Europe Paints and Coatings Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Akzo Nobel NV, BASF Coatings GmbH, Beckers Group, Hempel A/S, Henkel AG & Co. KGaA, J.W. Ostendorf, Jotun, Jotun A/S, Kansai Paints Co. Ltd., PPG Industries, Inc., RPM International Inc., Shawcor, Sherwin-Williams, Sika Ag, Teknos Group, Others.

Europe Paints and Coatings Market Segmentation:

By Resin Type: Based on the Resin Type, Europe Paints and Coatings Market is segmented as; Acrylic, Alkyd, Epoxy, Fluoropolymer, Polyester, Polyurethane, Vinyl, Others.

By Technology: Based on the Technology, Europe Paints and Coatings Market is segmented as; Powder, Solvent Borne, UV-cured Coating, Waterborne.

By Industry Verticals: Based on the Industry Verticals, Europe Paints and Coatings Market is segmented as; Architectural, Commercial, Industrial, Residential, Others.

By Region: This research also includes data for France, Germany, Italy, Spain, Sweden, UK and rest of Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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