Market Trends of Europe Protective Coatings Industry
This section covers the major market trends shaping the Europe Protective Coatings Market according to our research experts:
Rising Demand from Infrastructure Segment
- Infrastructure accounts for the largest share of the market and is also estimated to be the fastest growing. Rails, bridges, and roads constitute major segments of the infrastructure. With the increase in population, expansions in infrastructure have become an inevitable part of socio-economic development.
- Protective coatings are used in overhead structures, like flyovers and bridges, particularly in refurbishment situations, in order to improve the durability and to delay the replacement in structures. They are used to reduce the damage on the concrete surfaces and to stop or significantly reduce the rate of steel reinforcement corrosion.
- The need to invest more in Europe's infrastructure has been heavily discussed in the context of the EU's post 2020 Multiannual Financial Framework. The European Commission, today, is proposing to invest EUR 1 billion in 39 transport projects, which will unlock a total of EUR 4.5 billion of public and private co-financing by 2030.
- Under the Connecting Europe Facility (CEF), EUR 24.05 billion will be made available from the EU's 2014-2020 budget to co-fund TEN-T projects of common interest in the EU Member States. Of these, EUR19.3 billion have so far been legally committed.
- The aforementioned factors have been boosting the demand for protective coatings, in the recent times.
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Germany to Dominate the Market
- Germany is the leading market for protective coatings in the European market share, in terms of revenue.
- Germany's highway system has one of the greatest kilometer density levels in Europe and the 37,900 km of railway tracks is the sixth largest in the world. With over 250 inland ports, Germany's port infrastructure is also one of the largest in the world.
- Apart from the growth of the infrastructure industry, increasing installation of wind power plants is also expected to boost the protective coatings market In Germany. Germany, currently, has around 26,000 wind turbines and has plans of plans for further expansion.
- It is also expected that Germany may spend more on the public infrastructure, and an increase in investments through public-private partnerships at the municipal level.
- Thus, all the aforementioned factors are expected to drive the demand for protective coatings in the region during the forecast period.
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