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 – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the coatings market for performance OEM in Europe to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for the growth of the coatings market for performance OEM in Europe. The study also identifies growth avenues for market stakeholders. The report provides insightful information about how the coatings market for performance OEM in Europe is likely to expand during the forecast period of 2020 to 2030.

The report offers intricate dynamics about different aspects of the coatings market for performance OEM in Europe that can aid companies operating in the market in making strategic business decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the chemical mining industry with respect to the coatings market for performance OEM in Europe during the forecast period. It also includes a key indicator assessment that highlights growth prospects for the coatings market for performance OEM in Europe and estimates statistics related to growth of the market in terms of volume (million liters) and value (€ Mn).

This study covers a detailed segmentation of the coatings market for performance OEM in Europe, along with key information and a competition landscape. The report mentions company profiles of key players operating in the coatings market for performance OEM in Europe, wherein various market developments and growth strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Europe Coatings Market for Performance OEM

The report provides detailed information about the coatings market for performance OEM in Europe on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the coatings market for performance OEM in Europe, which would help them design successful strategies and make target-driven decisions.

  • Which type segment of the coatings market for performance OEM in Europe would emerge as a leading revenue generator during the forecast period?
  • What would be the Y-o-Y growth rate of the coatings market for performance OEM in Europe between 2020 and 2030?
  • What are winning imperatives of leading players operating in the coatings market for performance OEM in Europe?
  • Which application segment is expected to generate maximum revenue in the coatings market for performance OEM in Europe during the forecast period?

Research Methodology – Europe Coatings Market for Performance OEM

The research methodology adopted by analysts for compiling the report on the coatings market for performance OEM in Europe is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the coatings market for performance OEM in Europe.

For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the coatings market for performance OEM in Europe.

For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the coatings market for performance OEM in Europe.

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

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Europe Performance Oem Coatings Market

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