The European protective coatings market is expected to be valued at USD 2,575.89 million in 2018 and reach USD 2,887.36 million in 2023, registering an estimated CAGR of 2.31%, during 2018-2023 (the forecast period). The demand for protective coatings is driven by the recovering construction industry in Europe, accompanied by the rising usage of eco-friendly coatings.
The European protective coatings market is segmented by technology, resin type, and end-user industry. In 2017, among the technology-based segments, high-performance alloys dominated the global market.
Among the end-user segments, the infrastructure industry dominated the protective coatings market in 2017. Rising population, along with increasing purchasing power, are boosting the need for infrastructural projects, such as recreational centers, shopping malls, sophisticated healthcare centers, high-rise buildings, residential complexes, and many others, which, in turn, is augmenting the usage and demand for protective coatings. The power industry end-user segment is expected to register the fastest growth during the forecast period.
AREAS WITH SCOPE FOR THE EUROPE PROTECTIVE COATINGS MARKET
In 2017, the rest of Europe accounted for the largest market for protective coatings, followed by Germany, which, in the years ahead, is expected to maintain its position. The reason for the high demand for protective coatings are the consistently increasing infrastructure activities in these countries.
Source: Mordor Intelligence Analysis
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o Akzo Nobel
o Sherwin Williams (including Valspar Corporation)