Market Size of Europe Paints And Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Paints And Coatings Market Analysis
The Europe Paints And Coatings Market is expected to register a CAGR of greater than 3% during the forecast period.
The market was negatively affected by COVID-19 in 2020. Several countries in the region went into lockdown, which halted all manufacturing and construction activities. However, the market is projected to grow steadily, owing to increased building and construction activities in 2021.
- Over the short term, the consistent growth registered by the European construction industry and the rising demand from the wind turbine industry with the growth in the packaging industry is expected to drive the market during the forecast period.
- On the flip side, the rise in the prices of raw materials and the unavailability of substitutes for banned lead chromate used in industrial coatings are expected to hinder the growth of the market studied.
- The use of nanotechnology in paints and coatings and the increase in the demand for bio-based and eco-friendly paints and coatings are likely to act as opportunities in the future.
- Germany dominates the market across Europe due to increasing demand in the construction industry.
