Market Size of Germany Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Protective Coatings Market Analysis
Germany's Protective Coatings Market was valued at USD 390 million by the end of this year, and the market is projected to register a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.
- The driving factors that tend to the market growth include initiatives and policies from the government for the development of infrastructure, increasing revenue generation from various industries such as plastics, pulp, and paper, among others, and a rising trend of a shift in focus towards bio-based coatings are the key market trends that are driving the market.
- The infrastructure sector dominated the market and is likely to continue its dominance during the forecast period.
- Moreover, with the increasing natural gas consumption in the country, companies and organizations are increasing production activities. They are finding more areas of exploration, driving the demand for protective coatings in the oil and gas sector of the country.
- The Russia-Ukraine war has impacted the supply chain, causing a hike in raw materials prices and creating a hindrance in the market.
- The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.
