Dublin, Dec. 31, 2020 (GLOBE NEWSWIRE) -- The "Europe Paints and Coatings Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The European paints and coatings market is estimated to witness a significant growth, at an estimated CAGR of over 4%, over the forecast period. An increase in the use of protective coatings in the booming offshore wind turbine industry is expected to drive the market during the forecast period. The unavailability of adequate substitutes for banned lead chromate used in industrial coatings and increasing prices of raw materials are expected to hinder the growth of the market studied.
Key Market Trends
Increasing demand for architectural coatings is one of the major factors driving the growth of the market.
Use of nanotechnology in paints & coatings is likely to act as an opportunity in the future.
Germany dominated the market across Europe due to the increasing demand in the construction and automotive industry.
Germany to Dominate the Market
The economic growth of the country is affected by the factors, such as trade tensions leading to reduced exports, and tariff disputes triggered by the US government. However, the country is expected to rise from such fluctuations in economic performance over the forecast period.
Germany leads Europe's automotive market with 41 assembly and engine production plants that contribute to one third of the total automobile production in Europe. The new car market in the country, overall, exceeded three million vehicles, but there was a small contraction in the new car market, due to the introduction of new WLTP emission control regulations, as numerous manufacturers were unable to register new cars.
The sales/registrations of new vehicles are increasing steadily in the country with improvement in the economy reflecting consumer confidence. This is expected to provide stable contribution to the paints & coatings from the automotive sector.
Also, Germany has the largest construction industry in Europe. The residential construction segment is expected to have a moderately high growth. According to industry experts, the recent positive migration to the country is stimulating the demand for new residential construction. It is estimated that 3.6 million migrants are expected to arrive in Germany until 2020, requiring at least 350,000 new dwellings per year, which is expected to boost the construction sector.
However, new housing demand will decrease to around 260,000 per year by 2025 and to 246,000 by 2030. Still, in 2018, the German government made an announcement regarding its plan to construct around 1.5 million housing units by 2021.
Thus, owing to the growth in the various end-user industries in the country, the consumption of paints and coatings is expected to drive the demand during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Importance of Retro-fitting and Improving Efficiency of the Existing Housing Stock Built Before 1970
4.1.2 Rise in the Use of Protective Coatings in the Booming Offshore Wind Turbine Industry
4.2.1 Unavailability of Substitutes for Banned Lead Chromate Used in Industrial Coatings
4.2.2 Rise in the Prices of Raw Materials
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Force Analysis
4.5 Regulatory Policy Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
Akzo Nobel N.V.
Axalta Coating Systems
Berger Paints India Limited
Brillux GmbH & Co. KG
FUJIKURA KASEI CO.,LTD.
Henkel AG & Co. KGaA
Kansai Paints Co., Ltd.
Mankiewicz Gebr. & Co.
National Paints Factories Co. Ltd
PPG Industries, Inc.
RPM International Inc..
Sto SE & Co. KGaA
The Sherwin-Williams Company
TIGER Coatings GmbH & Co. KG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of Nano Technology in Paints & Coatings
7.2 Increase in the Demand for Bio-based and Eco-friendly Paints & Coatings
For more information about this report visit https://www.researchandmarkets.com/r/srsket
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