Europe Powder Coatings Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.8 Billion |
| Market Size (2029) | USD 2.18 Billion |
| CAGR (2024 - 2029) | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Powder Coatings Market Analysis
The Europe Powder Coatings Market size is estimated at USD 1.8 billion in 2024, and is expected to reach USD 2.18 billion by 2029, growing at a CAGR of greater than 3% during the forecast period (2024-2029).
Europe's powder coatings market was negatively affected by the COVID-19 pandemic. In Europe, countries like Italy and the United Kingdom were worst hit by the COVID-19 pandemic, which negatively affected the market. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of powder coatings for automotive, architectural, and decorative applications in the region.
Over the short term, the increasing usage of powder coatings in the automotive industry, the favorable government initiatives promoting the use of powder coatings, and the recycling property of powder coatings are expected to drive the market.
The difficulty in obtaining a thin film powder coating hinders market growth.
The growing investments in the infrastructure in the emerging economies of Europe, and the emergence of new application methods of powder coatings are expected to create opportunities for the market during the forecast period.
Germany is expected to dominate the market due to the rising demand for powder coatings in the construction and automotive end-user industries. It is also expected to register the highest CAGR during the forecast period.
Europe Powder Coatings Market Trends
Growing Demand from Automotive Segment
- The powder coatings are used in automotive applications to provide a smooth flow for high-gloss and matte surfaces. Due to their crosslinking properties, they are ideally suited as primers.
- In the automotive industry, epoxy resin-based powder coatings are used for metal bodies. In Europe, the increase in the production of automotive vehicles in Germany and France is driving the market for powder coatings in the region.
- The automobile manufacturing industry in Germany is a prominent shareholder of the overall automotive production in the European region. The country hosts major car-making brands, including Volkswagen, Mercedes-Benz, Audi, BMW, Porsche, etc. According to OICA, the total production volume of cars and light commercial vehicles reached 3.67 million units in 2022, compared to 3.30 million units manufactured in 2021, at a growth rate of 11%. Therefore, such growth in the automotive industry has also been driving the region's demand for paints and coatings.
- Similarly, in France, the automotive industry registered a significant growth rate. According to OICA, the total production of vehicles in the country amounted to 1.38 million units in 2022, registering a growth of 2% from the previous year. Passenger cars, light commercial vehicles, heavy commercial vehicles, buses, and coaches witnessed a decline in 2022 sales in the country owing to the growing cost of vehicles.
- Thus, the automotive end-user industry growth is expected to drive the market for powder coatings in the region.
Germany to Dominate the Market
- Germany is one of the significant markets for powder coatings in the region. Powder Coatings are used in various applications such as automotive, architectural and decorative, Industrial, furniture, and appliances. In Germany, the automotive and construction sectors registered significant market growth, thereby driving the market for powder coatings in the country.
- Germany has the largest construction industry in Europe. The construction industry in the country has been growing at a slow pace, majorly driven by increasing new residential construction activities. The non-residential and commercial buildings in the country are expected to witness significant growth prospects during the forecast period. Lower interest rates, an increase in real disposable incomes, and numerous investments by the European Union and the German government will likely support the growth.
- The country's construction industry has been growing slowly, driven by increasing new residential construction activities. For instance, according to Eurostat, the building construction revenue was registered at USD 114 billion in 2022 and is expected to reach USD 125.4 billion by 2024.
- Germany approved the construction of 25,399 dwellings for October 2022. According to the Federal Statistical Office (Destatis), this represented a 14.2% decrease from October 2021. From January to October 2022, a total of 297,453 dwelling building permits were issued, representing a 4.7% or a 14,564 decrease from the same period the previous year.
- According to Eurostat, residential construction alone contributed 7.1% to Germany’s GDP, the highest share reached in the past decade. The remarkable rise in the residential sector is attributed to the growing public expenditure on housing and the government’s increased focus on speeding up the construction of residential units as per the new standards set by building codes of the country.
- Overall, the growth of industries such as automotive and construction are likely to drive the market for powder coatings in the country during the forecast period.
Europe Powder Coatings Industry Overview
Europe's powder coatings market is fragmented in nature. Some of the major players in the market include (not in any particular order) Akzo Nobel N.V., DSM, Jotun, PPG Industries, Inc., and The Sherwin-Williams Company.
Europe Powder Coatings Market Leaders
Akzo Nobel N.V.
DSM
Jotun
PPG Industries, Inc
The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Europe Powder Coatings Market News
- November 2023: AkzoNobel launched low energy powder coating. Architectural powder coating, which can be cured at temperatures as low as -150◦C while still being Qualicoat class one certified. It can help customers cut energy consumption by as much as 20%.
- December 2022: AkzoNobel N.V. completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. The acquisition will help to strengthen AkzoNobel’s existing powder coatings business across the globe.
- June 2022: The Sherwin-Williams Company announced the agreement to acquire Gross & Perthun GmbH, a Mannheim, Germany-based developer, manufacturer, and distributor of coatings.
- April 2022: PPG Industries Inc completed the acquisition of the powder coatings manufacturing business of Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition was expected to provide PPG with a highly automated powder production factory in Italy capable of producing small and big batches.
Europe Powder Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 The Increasing Usage of Powder Coatings in Automotive Industry
4.1.2 The Favorable Government Initiatives Promoting the Use of Powder Coatings
4.1.3 Recycling Property of Powder Coatings
4.2 Restraints
4.2.1 Difficulty in Obtaining Thin Film of Powder Coating
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Acrylic
5.1.2 Epoxy
5.1.3 Polyester
5.1.4 Polyurethane
5.1.5 Epoxy-Polyester
5.1.6 Other Resin Types (Polyvinyl Chloride, Polyolefins,etc.)
5.2 End-user Industry
5.2.1 Architecture and Decorative
5.2.2 Automotive
5.2.3 Industrial
5.2.4 Other End-user Industries (Furniture, Appliances, etc.)
5.3 Geography
5.3.1 Germany
5.3.2 United Kinfdom
5.3.3 France
5.3.4 Italy
5.3.5 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.2 Asian Paints
6.4.3 Axalta Coating Systems LLC
6.4.4 BASF SE
6.4.5 DSM
6.4.6 Jotun
6.4.7 Kansai Paint Co.,Ltd.
6.4.8 Nippon Paint Holdings Co., Ltd.
6.4.9 PPG Industries, Inc.
6.4.10 Primatek Coatings
6.4.11 RPM International Inc
6.4.12 Sika AG
6.4.13 The Sherwin-Williams Company
6.4.14 TIGER Coatings GmbH & Co. KG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Investments in the Infrastructure in the Emerging Economies of Europe
7.2 The Emergence of New Application Methods of Powder Coatings
Europe Powder Coatings Industry Segmentation
Powder Coatings are used to provide color/texture for various objects. Apart from aesthetic applications, coatings are also used to protect/increase the shelf life of metals and other materials. Owing to the factors above, they are increasingly used in various end-user sectors, including construction and infrastructure, automotive and transportation, oil & gas, and other industries.
Europe's powder coatings market is segmented by resin type, end-user industry, and geography. The market is segmented by resin type the market is segmented into acrylic, epoxy, polyester, polyurethane, epoxy-polyester, and other resin types (polyvinyl chloride, polyolefins, etc.).By end-user industry, the market is segmented into architecture and decorative, automotive, industrial, and other end-user industries (furniture, appliances, etc.). By geography, the market is segmented into Germany, the United Kingdom, France, Italy, and Rest of Europe. The report also covers the market size and forecasts for the Europe Powder Coatings market for 4 major countries.
For each segment, the market sizing and forecasts are provided in terms of value (USD).
| Resin Type | |
| Acrylic | |
| Epoxy | |
| Polyester | |
| Polyurethane | |
| Epoxy-Polyester | |
| Other Resin Types (Polyvinyl Chloride, Polyolefins,etc.) |
| End-user Industry | |
| Architecture and Decorative | |
| Automotive | |
| Industrial | |
| Other End-user Industries (Furniture, Appliances, etc.) |
| Geography | |
| Germany | |
| United Kinfdom | |
| France | |
| Italy | |
| Rest of Europe |
Europe Powder Coatings Market Research FAQs
How big is the Europe Powder Coatings Market?
The Europe Powder Coatings Market size is expected to reach USD 1.8 billion in 2024 and grow at a CAGR of greater than 3% to reach USD 2.18 billion by 2029.
What is the current Europe Powder Coatings Market size?
In 2024, the Europe Powder Coatings Market size is expected to reach USD 1.8 billion.
Who are the key players in Europe Powder Coatings Market?
Akzo Nobel N.V., DSM, Jotun, PPG Industries, Inc and The Sherwin-Williams Company are the major companies operating in the Europe Powder Coatings Market.
What years does this Europe Powder Coatings Market cover, and what was the market size in 2023?
In 2023, the Europe Powder Coatings Market size was estimated at USD 1.75 billion. The report covers the Europe Powder Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Powder Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Powder Coatings Industry Report
Statistics for the 2024 Europe Powder Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Powder Coatings analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
