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Europe Coatings Market

Europe Coatings Market for Performance OEM (Type: Epoxy, Alkyd, Acrylic, Polyurethane, and Others; and Application: Trucks & Trailers, Rail, Port Equipment & Cranes, Mining Equipment, Industrial Machines, and Functional Products) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Evolving Regulatory Landscape Coupled with Growing Focus on Personalization to Aid Market Growth

Coatings for performance OEM are increasingly being used across a host of industrial domains for numerous applications, including mining equipment, rail, port equipment & cranes, industrial machines, and functional products. The automotive sector is another prominent sector wherein the demand for coatings for performance OEM has witnessed a consistent surge over the past few years. The Europe coatings market for performance OEM is primarily influenced by a range of factors, including evolving regulatory landscape, research & development, organic & inorganic strategies deployed by market participants, and entry of multiple new technologies and innovative concepts.

Over the past decade, waterborne coatings have gained immense popularity, particularly to manufacture interior and exterior architectural paints. Leading participants in the Europe coatings market for performance OEM are increasingly focusing on offering customized coating solutions to their customers to gain advantage. In addition, market players are also expected to emphasize on addressing the challenges across the supply chain as well as the pricing structure of their products to gain a competitive edge. While improving the quality of coatings for performance OEM is likely to remain imperative, market players are also expected to explore the potential of different types of coatings.

At the back of these factors, along the consistent growth of the various end-use industrial domains, the demand for coatings for performance OEM has witnessed a noteworthy surge over the past few years– a trend that is expected to continue over the forecast period. The Europe coatings market for performance OEM is expected to reach a market value of € 9.1 Bn by the end of 2030.

europe performance oem coatings market infographic

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High Demand for Wear Resistant Coatings Expected to Aid Market Growth

Among various end-use industries, mining and automotive sectors are likely to remain at the forefront in terms of market share and value. The demand for wear resistant coatings for performance OEM across the European region has witnessed a remarkable growth, owing to the growth of the automotive and the mining sector in the region. Moreover, over the past few years, the demand from the cement and the concrete manufacturing industry has increased at a consistent rate due to which, market players are increasingly capitalizing on the opportunities in various sectors. The growing demand for wear resistant coatings made from epoxy and polyurethane can be primarily attributed to the required anti-abrasion properties and exceptional resistance to high stress grinding.

europe performance oem coatings markets segmentation

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Due to consistent research and development, polymer coatings have emerged as a popular coating choice among players operating in the Europe coatings market for performance OEM. The functional properties of polymer coatings including optimum adhesion, corrosion resistance, wettability, and wear resistance are expected to drive the demand for coatings for performance OEM during the assessment period. Coatings for performance OEM are increasingly being used for a broad spectrum of applications, such as construction tools, consumer packaged goods, walking surfaces, building materials, due to which, the Europe coatings market for performance OEM is poised to grow at a significant rate during the assessment period.

Demand to Decline amid COVID-19 Pandemic, Market Players Likely to Focus on Inorganic Growth Strategies

The COVID-19 pandemic is expected to have a negative impact on the growth of the Europe coatings market for performance OEM due to the dwindling demand from various end-use industries, including automotive, building & construction, and industrial machinery. While governments across Europe imposed stringent lockdown measures to contain the transmission of the novel coronavirus, operations across the industrial sector are largely affected. Delays and complete shutdown of several construction projects across the European Union coupled with restriction on transportation and trade are likely to create several barriers across the supply chain.

Market players should focus on opportunities in various nations wherein industries remain unaffected by collaborating or forging strategic partnerships with regional market players to gain an advantage. In addition, companies operating in the Europe coatings market for performance OEM are also expected to expand their product portfolio in line with industrial requirements in the post COVID-19 era.

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Analysts’ Viewpoint

The Europe coatings market for performance OEM is expected to grow at a moderate CAGR of ~4% during the forecast period. The market growth can be primarily driven by the soaring demand from different end-use industries, positive growth of mining and automotive sectors in the region, and entry of highly efficient coatings. In addition, research and development activities will play an imperative role in the discovery of improved coating types in the upcoming years. Market players should focus on expanding their product portfolio to tap into potential opportunities in various industrial domains.

Europe Coatings Market for Performance OEM: Overview

  • Coatings for performance OEM are used in various industrial, transportation, & mining segments for protection against environmental factors such as weather and corrosion

Key Growth Drivers of Europe Coatings Market for Performance OEM

  • Demand for mining equipment has been rising in Europe. This can be primarily ascribed to the rise in metal prices and increase in metal mining output. According to the information published by a government source, demand for underground mining equipment is estimated to rise by 4% per year in Europe from 2018 to 2022.
  • Germany made the largest contribution in mining equipment manufacturing activities (36.6%) among all European Union (EU) countries in 2006. Italy holds 16.6% share of mining equipment manufacturing activities.
  • In July 2020, JCB (Joseph Cyril Bamford Excavators Ltd.), one of the largest mining equipment manufacturers in Europe, bagged a contract to supply the U.S. military with specialized high speed excavators for the next eight years in a deal worth up to US$ 269 Mn
  • In surface and underground mining, the mining equipment being used for industrial purposes such as drilling, crushing, milling and loading is susceptible to dust, dirt, and moisture. This can lead to corrosion in metal parts.
  • Industrial coatings are primarily used in the mining and ore processing industry for wear protection of metal equipment. Abrasion and corrosion are the common wear issues in the mining industry.
  • Polyurea and polyurethane-based coatings provide maximum protection against friction and corrosion of mining operations that extends the life of mining equipment. These coatings help companies save significantly in terms of replacement costs and downtime.
  • Increase in demand for mining equipment, even in the ongoing situation of the COVID-19 pandemic, is expected to positively impact the coatings market for performance OEM

Key Challenges for Europe Coatings Market for Performance OEM

  • Coatings are likely to present a difficulty in the surface prep stage of a project. Water is a preferred substitute for solvents in some situations; however, it is also a key component of corrosion.
  • Humidity and temperature have negative effect on film formation and quality of coatings. Waterborne films remain wet and soupy at high humidity, while these films are too dry and have poor appearance at low humidity. Therefore, waterborne basecoats for automotive are sprayed in booths with temperature and humidity control. This proves expensive for most industrial paint users.
  • Coatings are susceptible to environmental conditions such as temperature and humidity during the curing phase. This makes them impractical in certain climates.

Lucrative Opportunities for Europe Coatings Market for Performance OEM

  • Epoxy coatings are the most commonly used type of coatings that can be applied on metal equipment. As per the research conducted by Transparency Market Research, epoxy coatings held major share of 46.4% in 2019. Demand for epoxy coatings is anticipated to rise at an annual rate of 4.36% during the forecast period.
  • Epoxy coatings become a hard finished surface once they dry completely. Most of original equipment manufacturers use a white enamel paint and rust prevention oil, as it is economical. However, in this case, manufacturers have to repaint tanks more often due to corrosion as compared to epoxy and polyurethane coatings.
  • Epoxy coatings can last up to five years even if the metal equipment is susceptible to high humid climate
  • Epoxy coating is an environmentally friendly alternative as compared to its alternatives. Fumes of this coating does not erode or dissolve into the surrounding environment owing to the high cohesion of epoxy. Furthermore, recoating metal equipment more frequently with white enamel paints or rust prevention oil increases the maintenance cost.
  • Polyurethane coating is another type of industrial coatings that held 26.8% share of the coatings market for performance OEM in 2019. Its production is expected to reach 452.47 million liters in 2030.
  • Polyurethane coatings are the preferred type of coatings that can be used to coat rail locomotives, freight cars, and passenger wagons. Polyurethane coatings possess high water & oil resistance and can remain stable to use with minimal swelling on surface.
  • Epoxy coatings and polyurethane coatings possess excellent properties of abrasion & impact resistance and strong bonding capacity. This is expected to boost the demand for these coatings in industrial applications.

Germany Dominates Europe Coatings Market for Performance OEM

  • Germany accounted for 19.3% share of the coatings market for performance OEM in Europe in 2019. According to Germany’s Mechanical Engineering Industry Association, mining equipment manufacturers based in Germany expected sales to rise by 38% to around € 5 Bn (US$ 5.5 Bn) in 2019. This is expected to boost Germany’s share in the coatings market for performance OEM in Europe during the forecast period.
  • Rest of Europe held 42.3% share of the coatings market for performance OEM in Europe in 2019. The sub-region’s share is anticipated to rise marginally to 42.4% by the end of the forecast period. Rest of Europe comprises Russia & CIS, the U.K., and Poland, which are the major contributors in terms of consumption of OEM coatings in the sub-region. OEM performance coatings provide more than just an esthetic finish to industrial equipment or base materials. OEM performance coatings are engineered barriers that protect parts from damage and extreme environments.

Leading Players in Europe Coatings Market for Performance OEM

  • Major manufacturers operating in the coatings market for performance OEM in Europe include 
    • PPG Industries, Inc.
    • Sherwin-Williams Company
    • Akzo Nobel N.V.
    • Nippon Paint Holdings Co., Ltd.
    • Axalta Coating Systems
    • Kansai Paint Co., Ltd.

Europe Coatings Market for Performance OEM – Segmentation

TMR’s research study segments the coatings market for performance OEM in Europe in terms of type, application, and country/sub-region. This report presents extensive market dynamics and growth trends associated with different market segments and explains how they are influencing the coatings market for performance OEM in Europe.

Type
  • Epoxy
  • Alkyd
  • Acrylic
  • Polyurethane
  • Others (including PTFE, PVDF, PVDC, Chlorinated Rubber, Inorganic Zinc, and Fluorinated Polymers)

Application
  • Mining Equipment
  • Industrial Machines
  • Trucks & Trailers
  • Rail
  • Port Equipment & Cranes
  • Functional Products

Country/Sub-region
  • Germany
  • France
  • Italy
  • Spain
  • Turkey
  • Rest of Europe

    1. Preface

        1.1. Report Scope and Market Segmentation

        1.2. Research Highlights

    2. Assumptions and Research Methodology

        2.1.  Assumptions and Acronyms Used

        2.2. Research Methodology

    3. Executive Summary: Europe Coatings Market for Performance OEM

        3.1. Market Value, Indicative (€ Mn)

        3.2. Top Three Trends

    4. Market Overview

        4.1. Product Overview

        4.2. Key Market Developments

        4.3. Market Indicators

    5. Market Dynamics

        5.1. Drivers and Restraints Snapshot Analysis

                5.1.1.1. Drivers

                5.1.1.2. Restraints

                5.1.1.3. Opportunities

        5.2. Porter’s Five Forces Analysis

            5.2.1. Threat of Substitutes

            5.2.2. Bargaining Power of Buyers

            5.2.3. Bargaining Power of Suppliers

            5.2.4. Threat of New Entrants

            5.2.5. Degree of Competition

        5.3. Value Chain Analysis

        5.4. List of Potential Customers

    6. Europe Coatings Market for Performance OEM: Covid-19 Impact Analysis 

    7. Europe Coatings Market for Performance OEM: Price Trend Analysis, by Type, 2019-2030

    8. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Analysis, by Type

        8.1. Key Findings and Introduction

        8.2. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            8.2.1. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Epoxy, 2019–2030

            8.2.2. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Alkyd, 2019–2030

            8.2.3. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Acrylic, 2019–2030

            8.2.4. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Polyurethane, 2019–2030

            8.2.5. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Others, 2019–2030

        8.3. Europe Coatings Market for Performance OEM Attractiveness Analysis, by Type

    9. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Analysis, by Application

        9.1. Key Findings and Introduction

        9.2. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            9.2.1. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Mining Equipment, 2019–2030

            9.2.2. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Industrial Machines, 2019–2030

            9.2.3. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Trucks & Trailers, 2019–2030

            9.2.4. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Rail, 2019–2030

            9.2.5. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Port Equipment & Cranes, 2019–2030

            9.2.6. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Functional Products, 2019–2030

        9.3. Europe Coatings Market for Performance OEM Attractiveness Analysis, by Application

    10. Europe Coatings Market for Performance OEM Analysis, by Country and Sub-region

        10.1. Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Country and Sub-region

            10.1.1. Germany Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.2. Germany Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            10.1.3. France Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.4. France Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            10.1.5. Italy Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.6. Italy Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            10.1.7. Spain Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.8. Spain Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            10.1.9. Turkey Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.10. Turkey Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

            10.1.11. Rest of Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Type, 2019–2030

            10.1.12. Rest of Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn) Forecast, by Application, 2019–2030

    11. Competition Landscape

        11.1. Europe Coatings Market for Performance OEM Share Analysis, by Company (2019)

        11.2. Competition Matrix 

        11.3. Company Profiles

            11.3.1. Hempel A/S

                11.3.1.1. Company Description

                11.3.1.2. Business Overview

                11.3.1.3. Financial Details

                11.3.1.4. Business Strategy

                11.3.1.5. Product Portfolio

            11.3.2. BASF SE

                11.3.2.1. Company Description

                11.3.2.2. Business Overview

                11.3.2.3. Business Strategy

                11.3.2.4. Financial Details

                11.3.2.5. Product Portfolio

            11.3.3. Helios Coatings, Inc.

                11.3.3.1. Company Description

                11.3.3.2. Business Overview

                11.3.3.3. Business Strategy

                11.3.3.4. Product Portfolio

            11.3.4. Altana AG

                11.3.4.1. Company Description

                11.3.4.2. Business Overview

                11.3.4.3. Business Strategy

                11.3.4.4. Product Portfolio

            11.3.5. Beckers Group

                11.3.5.1. Company Description

                11.3.5.2. Business Overview

                11.3.5.3. Business Strategy

                11.3.5.4. Product Portfolio

            11.3.6. PPG Industries, Inc.

                11.3.6.1. Company Description

                11.3.6.2. Business Overview

                11.3.6.3. Business Strategy

                11.3.6.4. Financial Details

                11.3.6.5. Product Portfolio

            11.3.7. Axalta Coating Systems Ltd.

                11.3.7.1. Company Description

                11.3.7.2. Business Overview

                11.3.7.3. Product Portfolio

                11.3.7.4. Strategic Overview

            11.3.8. Jotun A/S

                11.3.8.1. Company Description

                11.3.8.2. Business Overview

                11.3.8.3. Product Portfolio

                11.3.8.4. Strategic Overview

            11.3.9. Yasar Holding A.S.

                11.3.9.1. Company Description

                11.3.9.2. Business Overview

                11.3.9.3. Product Portfolio

                11.3.9.4. Strategic Overview

            11.3.10. ALLNEX Netherlands B.V.

                11.3.10.1. Company Description

                11.3.10.2. Business Overview

                11.3.10.3. Product Portfolio

                11.3.10.4. Strategic Overview

            11.3.11. SilcoTek

                11.3.11.1. Company Description

                11.3.11.2. Business Overview

                11.3.11.3. Product Portfolio

                11.3.11.4. Strategic Overview

            11.3.12. Continental Coatings Inc.

                11.3.12.1. Company Description

                11.3.12.2. Business Overview

                11.3.12.3. Product Portfolio

                11.3.12.4. Strategic Overview

            11.3.13. The Sherwin-Williams Company

                11.3.13.1. Company Description

                11.3.13.2. Business Overview

                11.3.13.3. Product Portfolio

                11.3.13.4. Strategic Overview

            11.3.14. Akzo Nobel N.V.

                11.3.14.1. Company Description

                11.3.14.2. Business Overview

                11.3.14.3. Product Portfolio

                11.3.14.4. Strategic Overview

            11.3.15. Nippon Paint Holdings Co., Ltd.

                11.3.15.1. Company Description

                11.3.15.2. Business Overview

                11.3.15.3. Product Portfolio

                11.3.15.4. Strategic Overview

    12. Primary Research: Key Insights

    List of Tables

    Table 01: Europe Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 02: Europe Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 03: Europe Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 04: Europe Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 05: Europe Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Country and Sub-region, 2019–2030

    Table 06: Europe Coatings Market for Performance OEM Value (€ Mn) Forecast, by Country and Sub-region, 2019–2030

    Table 07: Germany Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 08: Germany Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 09: Germany Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 10: Germany Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 11: France Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 12: France Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 13: France Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 14: France Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 15: Italy Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 16: Italy Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 17: Italy Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 18: Italy Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 19: Spain Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 20: Spain Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 21: Spain Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 22: Spain Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 23: Turkey Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 24: Turkey Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 25: Turkey Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 26: Turkey Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    Table 27: Rest of Europe Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Type, 2019–2030

    Table 28: Rest of Europe Coatings Market for Performance OEM Value (€ Mn) Forecast, by Type, 2019–2030

    Table 29: Rest of Europe Coatings Market for Performance OEM Volume (Million Liters) Forecast, by Application, 2019?2030 

    Table 30: Rest of Europe Coatings Market for Performance OEM Value (€ Mn) Forecast, by Application, 2019?2030 

    List of Figures

    Figure 01: Europe Coatings Market for Performance OEM Pricing Analysis (US$/Ton), by Type, 2019-2030

    Figure 02: Europe Coatings Market for Performance OEM Volume (Million Liters) and Value (€ Mn), 2019–2030

    Figure 03: Europe Coatings Market for Performance OEM Absolute € Opportunity (€ Mn), 2019–2030

    Figure 04: Europe Coatings Market for Performance OEM Volume Share Analysis, by Type, 2019, 2025, and 2030

    Figure 05: Europe Coatings Market for Performance OEM Attractiveness Analysis, by Type

    Figure 06: Europe Coatings Market for Performance OEM Volume Share Analysis, by Application, 2019, 2025, and 2030

    Figure 07: Europe Coatings Market for Performance OEM Attractiveness Analysis, by Application

    Figure 08: Europe Waterborne Coatings Share Analysis, by Country and Sub-region, 2019, 2025, and 2030

    Figure 09: Europe Coatings Market for Performance OEM Attractiveness Analysis, by Country and Sub-region

    Figure 10: Europe Coatings Market for Performance OEMs Market Share Analysis, by Company, 2019

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