Paints and coatings do not only make our lives more colorful and beautiful; they also protect materials and significantly increase the durability of many objects. Regarding vehicles, coatings serve as corrosion protection. Furthermore, they can be self-cleaning and antibacterial. Ceresana analyzed the European market for paints and coatings already for the third time: In 2017, almost 9 million tonnes of these products were utilized.
Rising Demand on the Part of the Construction Industry
Architectural paints are the largest application area of paints and coatings. Residential construction has a rising demand for facade and interior wall paints, yet, large commercial construction and infrastructure projects provide for a positive development of revenues. The market researchers of Ceresana forecast that about 58% of all paints and coatings will be utilized in the construction industry in 2025. Application for industrial goods is decisively affected by the economic situation of individual countries. In this segment, Ceresana expects a growth of European demand for paints and coatings by, on average, 1.4% per year. Another important application is the transportation segment. This industry is characterized by several innovations such as finishes offering thermal insulation or self-healing effects. Production and upstream manufacturing processes are being relocated from Western European to Eastern European countries, due to more favorable general conditions; research and development, on the other hand, remain in Western European countries.
Waterborne Products Gaining Shares
Besides the division by various application areas, the market report also analyzes the demand per product type: ranging from paints and coatings based on acrylics, vinyl, alkyd, epoxy, polyurethane (PUR), and polyester up to products based on other materials. Paints and coatings based on acrylics and vinyl account for the largest share of the European market: the share amounts to about 53%. The increased focus on sustainability and environmental protection in Europe supports consumption of environmentally friendly alternatives: Waterborne paints and coatings are currently already accounting for a share of about 58% of the total European market.