Europe accounts for 24% of global paints and coatings market, having achieved a CAGR of 4% in the paints and coatings industry. In 2008, Europe had lost its position as the largest region in the global paints and coating market, to the Asia-Pacific region. The reasons for the overall decline in market size of paints and coatings in Europe were due to the regions of low residential construction activity, postponements of new building projects and a lack of funding options for buyers.
Construction Paints and Coatings market are driven by the factors such as advances in civil construction and high demand for efficient paints. These paints act as protective layers for buildings and prevent the building from corrosion, dampness and damages due to extreme weather conditions.
The Global paints and coatings market is segmented by product type (acrylic, alkyd, polyurethane, epoxy, polyesters and others), by applications (Automotive sector, marine paints, consumer durables, other OEMs, Industrial wood coatings), by decorative applications (interior and exterior wall paints, Wood finishes; Enamel, putty and other applications) and by region (France, Germany, Italy, Russia, United Kingdom and Rest of Europe).
With a value of US $xx.xx billion and a market share of xx.xx% in 2015, acrylic-based paints and coatings was the largest category within the European paints and coatings market. Meanwhile, the solvent-based paints and coatings valued US $ xx.xx billion in 2015, accounting for xx.xx% of the market size.
There is a lot of research and development going on, in the Paints and Coatings industry. This is mainly because of the emergence of green buildings and Nano coatings, those, which are making the world become a healthier and safer place to live in. Research is being done to reduce the environmental impact of marine coatings during the ship life cycle.
There is a development of near-infrared (NIR) coatings and tiles to reduce heating of dark-colored surfaces on roofs and facades. The sun-reflective building materials help to achieve a reduction of cooling loads and improve thermal comfort. They are often seen on roofing, but there are also tentative applications for facades.
Eco-friendly paints are being preferred over normal paints as normal paints are toxic and cause health hazards like Cancer, Tuberculosis and respiratory illnesses. The volatile organic compounds (VOC) used to hold the ingredients of the liquid state of the paint in a blended state, escape into the atmosphere and cause gene mutation when the paint is applied to buildings. Thus, in the recent years compounds like lead and chromium is banned from household paints as they cause lots of health hazards to the human beings.
The market for coatings and paints includes liquid- and powder-based paints, varnishes and related products used in architectural and decorative, industrial and specialty product segments. Interior and exterior paints, primers, sealers and varnishes are part of the architectural and decorative segment, which are used in homes and buildings. Products that are a part of the production process form part of the industrial products segment. Aerosol paints, marine paints, high-performance maintenance coatings, and automotive refinish paints, all constitute the specialty products segment.
The practice of green buildings and products such as Nano-coatings, green coatings offers a lot of opportunities for the growth of the paints and coatings market.
Various factors like the increasing global population, the increasing demand for new houses due to the growing number of nuclear families, the increasing market for consumer goods and automobiles, and many more; propel the growth of this market. Additionally, the development of new industries being set up every now and then is, further, helping this industry of paints and coatings to attain prosperity in Asia-Pacific.
Stringent regulations of environmental protection due to, which, there are less number of approved chemicals present in the market, seem to resist the growth of Asia-Pacific Paints and coatings market.
WHAT THE REPORT OFFERS?
1) Market Definition for the Europe paints and coatings along with identification of key drivers and restraints for the market
2) Market analysis of the Europe paints and coatings market with region specific assessments and competitive analysis on the global and regional scales
3) Identification of factors instrumental in changing the market scenarios and offering prospective opportunities
4) In addition, the identification of key companies which can influence the market on both the global and regional fronts
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
5) Identification and analysis of the macro and micro factors that affect the European paints and coatings market on both the global and regional scales
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information