The European Paints and Coatings market is projected to grow to USD 41.6 Billion by 2028 from USD 37.2 Billion in 2023, at a CAGR of 2.3% between 2023-2028. Rising demand for durable coatings with better performance and aesthetics in the construction industry boosts the European paints and coatings market.
The global European Paints and Coatings major players have made several research developments across the value chain to focus on changing customer preferences. The companies have gone under mergers and acquisitions, partnerships and agreements, along with new product launches. Akzo Nobel NV (Netherlands), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), Jotun A/S (Norway), and Axalta Coating Systems LLC (US) are some of the key market players.
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PPG Industries, Inc. is a US-based supplier of coatings, paints, optical products, specialty materials, glass, and fiberglass. The company operates through three business segments: performance coatings, industrial coatings, and glass. It caters to the needs of several end-use industries, such as consumer products construction, transportation, and industrial. The company also offers automotive coatings under its industrial coatings segment. The company has made several acquisitions in the year 2019-2023. In April 2022, PPG acquired the powder coatings manufacturing business of Arsonsisi, an industrial coatings company based in Milan, Italy.
The Sherwin-Williams Company is a leading supplier of advanced technology liquid and powder coatings and a diversified coatings company through 79 facility locations across the US, Canada, Mexico, and China and 15 manufacturing locations for the global OEM market. The company's wide product portfolio includes brands such as Sherwin-Williams, Acrydur, Acrolon, Duraplate, and others. The company has a strong customer base and operates in various countries in Europe, North America, Asia Pacific, and other regions. The company comprises three business segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. Protective coatings are manufactured under the Performance Coatings Group segment. The Sherwin-Williams Company has launched new products and acquired several well-settled players in the European region.
In March 2022, the company launched a new high-speed curing range of decorative flooring coating systems in Europe for industrial and commercial projects. In November 2022, the company acquired Oskar Nolte GmbH and Klumpp Coatings GmbH, creating market opportunities to boost their profitable growth in the global industrial wood market and fitting the company strategy of acquiring complementary, high-quality, and differentiated businesses.
European Paints and Coatings Market by Resin Type (Acrylic, Alkyd, Epoxy, Polyester, PU, Fluoropolymer, Vinyl), Technology (Waterborne, Solvent borne, Powder), End-use (Architectural and Industrial), and Country - Global Forecast to 2028
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