The report "European Paints and Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyester, PU, Fluoropolymer, Vinyl), Technology (Waterborne, Solvent borne, Powder), End-use (Architectural and Industrial), and Country - Global Forecast to 2028", is projected to grow from USD 37.2 billion in 2023 to USD 41.6 billion by 2028, at a CAGR of 2.3%. Crucial information accessible in this research report includes european paints and coatings market growth drivers, restraints, current trends, economic and financial structures, and other pertinent market details.

Increasing demand for premium paints to boost the European Paints and Coatings market. The architectural paints produced and consumed in Europe are exclusively medium to premium products, as the consumer interest in home decoration is high. These coatings offer better coverage than domestic formulations.

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296 – Tables
44 – Figures
319 – Pages

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European Paints and Coatings Market Dynamics

Driver: Technological Advancements in Powder-Based Coatings
Innovations in curing techniques and powder coating materials have broadened the scope of powder coatings, particularly for heat-sensitive substrates. Medium-density fibreboard (MDF), which is made by combining synthetic resin with wood particles, stands out as a significant development. Due to its low porosity and uniform surface, MDF is highly suitable for powder coating applications. Powder coatings are now widely applied to MDF products like doors, kitchen and bath cabinets, office furniture, store fixtures, and ready-to-assemble furniture. Moreover, advancements in powder coatings have addressed issues related to coating durability, extending the lifespan of coated items. Recently, hyper-durable powder coating technology has emerged, offering potential for use in high-performance architectural projects, including skyscrapers and monumental buildings.

Restraint: Extended Curing Time for Waterborne Paints and Coatings
Waterborne paints and coatings, increasingly adopted across industrial and automotive sectors for their reduced environmental impact, often require longer curing times than solvent-borne alternatives. The curing time can be especially critical with larger volumes. The flow properties of waterborne coatings can also vary with humidity, affecting application. High humidity can trap water on the substrate surface, resulting in poor curing and decreased performance. To speed up curing, heat is sometimes applied, but this can impact the substrate’s surface quality. Furthermore, waterborne coatings are vulnerable to freezing conditions, which can render them unusable after exposure to freezing temperatures.

Opportunities: Expanding Applications for Powder Coatings in the Electric Vehicle (EV) Sector
Powder coatings, recognized for being eco-friendly with zero VOCs and hazardous components, present a promising opportunity in the coatings market, particularly within the EV industry. Currently, powder coatings in automotive applications are utilized on wheels (25%), exterior trim parts (15%), and under-the-hood components (40%), with 20% for other uses. The shift toward EVs will likely see powder coatings playing a larger role in protecting electric powertrain components, replacing traditional uses in internal combustion engine (ICE) components. This transition creates significant opportunities for powder coating manufacturers to cater to the evolving needs of the automotive sector.

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Challenge: Compliance with Stringent Environmental Regulations
Environmental regulations focusing on VOC concentrations in exhaust gases continue to pose challenges for the coatings industry. Legislation that limits VOC emissions based on concentration can disproportionately affect processes that require high airflow, disregarding overall reduced emissions when low-VOC coatings are utilized. In Europe, the Paint Product Directive (Directive 2004/42/CE), enforced in the UK by the Volatile Organic Compounds in Paints, Varnishes, and Vehicle Refinishing Products Regulations 2012, and the Industrial Emissions Directive (IED – Directive 2010/75/EU), enacted through the Environmental Permitting Regulations 2010, impose VOC limits on certain industrial activities, affecting coating industry compliance requirements.

Acrylic is the largest segment of the overall European Paints and Coatings market.

Acrylic resins are clear thermoplastics made from acrylic acid, methacrylic acid, cyano acrylic acid, acrylonitrile, and acrylamide. Acrylic resins are available as solids, solutions in organic or inorganic solvents, or emulsions. Acrylic resin characteristics can be adjusted for specific applications by using different types or numbers of monomers during manufacture. Using thermoplastic acrylics as corrosion-resistant coatings is less common than thermosets because thermoplastic coatings have a higher corrosion degree than thermoset coatings.

The demand for acrylic paints & coatings is owed to the growing renovation and new housebuilding sector in the European region. The sector provides 18 million direct jobs and contributes to about 9% of the EU's GDP. High sales of better-quality coatings for interior use, have been heavily promoted to the general public by mass merchandisers due to which the consumption of acrylic surface coatings in the region's construction market has increased. There have also been higher sales of gloss coatings based on acrylic emulsions, which have replaced solvent-borne alkyd enamels.

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Powder-based technology is the fastest-growing segment in the market during the forecast period.

The major application of powder coatings is in the architectural sector for aluminum extrusions and cladding. There is a growing requirement for robust mechanical properties such as improved flexibility and durable paints & coatings with better weathering performance. Additionally, from the architectural perspective, there is a growing interest in wood effects, which are achieved through sublimation print transfer. Powder coatings have the ability to replace liquid coatings. There is increasing demand for powder coatings in the transportation, construction, and manufacturing industries in the countries such as Germany, France, and Italy.

Germany is the largest market for paints and coatings in the European region during the forecast period

The residential market in Germany has been growing due to the increasing population in large cities of Germany, such as Cologne, Frankfurt, Hamburg, Berlin, and Munich. For instance, a project value of USD 235 million is granted for building East Side Cubes Office Building, on which construction started in Q4 2022 and will get completed in Q4 2023. The BLB NRW – Hueffer Campus Theology Research Center – North Rhine – Westphalia was the second-largest project with a project value of USD 196 million, on which the construction work started in Q4 2022 with an estimated completion in Q4 2024. The other ongoing construction projects in the country include The Sigmaringen – Sigmaringen Bertha Benz School – Baden-Wuerttemberg project (costs around USD 160 million), the Bauwo Grundstucks/ Kanada Bau – Elsdorf Bauka Logistics Park Development – Lower Saxony (costs around USD 130 million), and the BPD Immobilienentwicklung – Telekom-Areal Residential Complex – Baden-Wuerttemberg (costs around USD 116 million). The favorable economic environment for the construction sector will catalyze the demand for decorative paints and coatings across the country.

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European Paints & Coatings Market Trending key Players

The global European Paints and Coatings major players have made several research developments across the value chain to focus on changing customer preferences. The companies have gone under mergers and acquisitions, partnerships and agreements, along with new product launches. Akzo Nobel NV (Netherlands), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), Jotun A/S (Norway), and Axalta Coating Systems LLC (US) are some of the key market players.

PPG Industries, Inc. is a US-based supplier of coatings, paints, optical products, specialty materials, glass, and fiberglass. The company operates through three business segments: performance coatings, industrial coatings, and glass. It caters to the needs of several end-use industries, such as consumer products construction, transportation, and industrial. The company also offers automotive coatings under its industrial coatings segment.