Analyst Viewpoint
Growth in automotive sector and surge in investment in infrastructure development are expected to propel the market size during the forecast period. Antibacterial and high-performance protective coatings are gaining traction in the healthcare sector due to growth in cases of viral and bacterial infections. Demand for bio-based coatings is growing in the automotive sector with rise in emphasis on sustainability and circular economy.
Vendors in the sector are investing heavily in the R&D of bio-based coatings to cater to environmentally conscious customers and adhere to stringent regulations. They are also developing graphene-based and specialty coatings for the automotive industry.
Coatings are used to cover any surface or object against various environmental elements such as corrosion, wear and tear, heat, rain, and Ultraviolet (UV) radiation. Some coatings are also employed to limit cross-contamination, especially in the healthcare sector. Epoxy, alkyd, acrylic, and polyurethane are various types of coatings available in the market.
Epoxy coatings are known for their durable and protective characteristics. These coatings are widely utilized to protect metals, composites, and electronics & electrical components. Alkyd, a polyester resin, is water-resistant, environmentally friendly, and less toxic. It is modified by the addition of fatty acids and other components. Acrylic coatings are water-soluble and are mainly used in the construction sector. They are applied to various materials, including wood, fabric, paper mache, and leather.
Coatings are employed in the automotive sector to improve the rolling resistance of tires. They can also reduce the weight of vehicles. Rise in demand for fuel-efficient vehicles is expected to propel the Europe coatings market for performance OEM. According to the European Automobile Producers Association (ACEA), in 2022, Europe recorded the production of 10.9 million passenger cars, registering a 8.3% growth compared to that in 2021.
The construction sector heavily relies on various types of paints & coatings for the decoration and protection of buildings, appliances, and equipment. There are various types of architectural coatings such as organic and inorganic coatings. Some coatings are a mix of organic and inorganic composites.
Surge in investment in infrastructure development is boosting demand for architectural coatings, thereby driving the market revenue. In June 2023, The European Union (EU) announced plans to invest €6.2 Bn in sustainable, safe, and efficient transport infrastructure. Moreover, architectural coatings are gaining traction in several European countries. According to The Observatory of Economic Complexity (OEC), in 2022, paints, varnishes, printing inks, mastics, and similar coatings were France's 65th most traded product, with a total trade of €2.16 Bn.
Implementation of stringent environmental regulations in various end-used industries is boosting demand for eco-friendly paints and coatings in Europe. The EU demands that all polymers and coatings must be biodegradable. At least 90% of the materials present in polymers and coatings have to be broken down to CO2 by biological action within six months. Manufacturers in the Europe coatings industry for performance OEM are investing significantly in the R&D of bio-based coatings to adhere to such regulations and to cater to environmentally conscious customers. In November 2023, AkzoNobel provided KIA Motors with its newly developed bio-based paint for the interiors of KIA Motors’ EV9 electric SUV. Hence, development of bio-based coatings is augmenting the market expansion.
Antibacterial coatings are widely utilized in the healthcare sector to mitigate implant-associated infection. The emergence of the COVID-19 pandemic has led to rise in adoption of innovative methods and technologies to suppress the spread of bacteria and viruses. IN May 2023, a study from the University of Illinois Urbana-Champaign reported the development of smart antimicrobial coatings for surgical orthopedic implants. These coatings can detect strain on the devices to provide early warning of implant failures while destroying infection-causing bacteria. Hence, increase in adoption of antibacterial coatings in the healthcare sector is fueling the market development.
According to the latest Europe coatings market for Performance OEM forecast, Germany is expected to hold largest share from 2023 to 2031. Growth in automotive sector is fueling the market dynamics of the country. The automotive sector in Germany recorded a total revenue volume of €410.9 Bn in 2021, recording a 8% increase on 2020 revenue.
The industry in France is anticipated to grow at a significant pace in the near future. Surge in export of paints & coatings is driving the market statistics in the country. As per the OEC, the exports of paints, varnishes, printing inks, and mastics, and similar coatings in France grew from €1.74 Bn in 2021 to €2.16 Bn in 2022.
Most companies are adopting M&A strategies to expand their market presence. They are also launching new products to increase their market share. Vendors are developing graphene-based coatings that offer scratch-resistant and protection against UV radiation.
Hempel A/S, BASF SE, Helios Coatings, Inc., Altana AG, Beckers Group, PPG Industries, Inc., Axalta Coating Systems, Jotun A/S, Yasar Holding A.S., ALLNEX Netherlands B.V., SilcoTek, Continental Coatings Inc., Sherwin-Williams Company, Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd. are key players operating in this market.
Each of these companies has been profiled in the Europe coatings market for performance OEM report based on parameters such as company overview, business strategies, financial overview, business segments, product portfolio, and recent developments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 | US$ 12.9 Bn |
| Market Forecast Value in 2031 | US$ 17.6 Bn |
| Growth Rate (CAGR) | 3.9% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value and Million Liters for Volume |
| Market Analysis | It includes segment analysis as well as country level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
|
| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 12.9 Bn in 2022
It is anticipated to grow at a CAGR of 3.9% from 2023 to 2031
It is projected to reach US$ 17.6 Bn by the end of 2031
Growth in automotive sector and surge in investment in infrastructure development
Germany recorded the highest demand in 2022
Hempel A/S, BASF SE, Helios Coatings, Inc., Altana AG, Beckers Group, PPG Industries, Inc., Axalta Coating Systems, Jotun A/S, Yasar Holding A.S., ALLNEX Netherlands B.V., SilcoTek, Continental Coatings Inc., Sherwin-Williams Company, Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.4. Porter’s Five Forces Analysis
5.5. Value Chain Analysis
5.6. Material Analysis
5.7. Industry SWOT Analysis
5.8. Europe Coatings Market for Performance OEM Analysis and Forecast, 2023 - 2031
5.8.1. Market Value Projection (US$ Bn)
5.8.2. Market Volume Projection (Million Liters)
6. Europe Coatings Market for Performance OEM Analysis and Forecast, by Type
6.1. Europe Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
6.1.1. Rental Epoxy
6.1.2. Alkyd
6.1.3. Acrylic
6.1.4. Polyurethane
6.1.5. Others
6.2. Incremental Opportunity, by Type
7. Europe Coatings Market for Performance OEM Analysis and Forecast, by Application
7.1. Europe Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
7.1.1. Mining Equipment
7.1.2. Industrial Machines
7.1.3. Trucks & Trailers
7.1.4. Rail
7.1.5. Port Equipment & Cranes
7.1.6. Functional Products
7.2. Incremental Opportunity, by Application
8. Europe Coatings Market for Performance OEM Analysis and Forecast, by Country
8.1. Europe Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Country, 2023- 2031
8.1.1. U.K.
8.1.2. Germany
8.1.3. France
8.1.4. Spain
8.1.5. Italy
8.2. Incremental Opportunity, by Country
9. U.K. Coatings Market for Performance OEM Analysis and Forecast
9.1. Country Snapshot
9.2. Key Brand Analysis
9.3. Consumer Buying Behavior Analysis
9.4. Key Trends Analysis
9.4.1. Supply Side
9.4.2. Demand Side
9.5. Price Trend Analysis
9.5.1. Weighted Average Selling Price (US$)
9.6. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
9.6.1. Rental Epoxy
9.6.2. Alkyd
9.6.3. Acrylic
9.6.4. Polyurethane
9.6.5. Others
9.7. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
9.7.1. Mining Equipment
9.7.2. Industrial Machines
9.7.3. Trucks & Trailers
9.7.4. Rail
9.7.5. Port Equipment & Cranes
9.7.6. Functional Products
9.8. Incremental Opportunity Analysis
10. Germany Coatings Market for Performance OEM Analysis and Forecast
10.1. Country Snapshot
10.2. Key Brand Analysis
10.3. Consumer Buying Behavior Analysis
10.4. Key Trends Analysis
10.4.1. Supply Side
10.4.2. Demand Side
10.5. Price Trend Analysis
10.5.1. Weighted Average Selling Price (US$)
10.6. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
10.6.1. Rental Epoxy
10.6.2. Alkyd
10.6.3. Acrylic
10.6.4. Polyurethane
10.6.5. Others
10.7. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
10.7.1. Mining Equipment
10.7.2. Industrial Machines
10.7.3. Trucks & Trailers
10.7.4. Rail
10.7.5. Port Equipment & Cranes
10.7.6. Functional Products
10.8. Incremental Opportunity Analysis
11. France Coatings Market for Performance OEM Analysis and Forecast
11.1. Country Snapshot
11.2. Key Brand Analysis
11.3. Consumer Buying Behavior Analysis
11.4. Key Trends Analysis
11.4.1. Supply Side
11.4.2. Demand Side
11.5. Price Trend Analysis
11.5.1. Weighted Average Selling Price (US$)
11.6. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
11.6.1. Rental Epoxy
11.6.2. Alkyd
11.6.3. Acrylic
11.6.4. Polyurethane
11.6.5. Others
11.7. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
11.7.1. Mining Equipment
11.7.2. Industrial Machines
11.7.3. Trucks & Trailers
11.7.4. Rail
11.7.5. Port Equipment & Cranes
11.7.6. Functional Products
11.8. Incremental Opportunity Analysis
12. Spain Coatings Market for Performance OEM Analysis and Forecast
12.1. Country Snapshot
12.2. Key Brand Analysis
12.3. Consumer Buying Behavior Analysis
12.4. Key Trends Analysis
12.4.1. Supply Side
12.4.2. Demand Side
12.5. Price Trend Analysis
12.5.1. Weighted Average Selling Price (US$)
12.6. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
12.6.1. Rental Epoxy
12.6.2. Alkyd
12.6.3. Acrylic
12.6.4. Polyurethane
12.6.5. Others
12.7. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
12.7.1. Mining Equipment
12.7.2. Industrial Machines
12.7.3. Trucks & Trailers
12.7.4. Rail
12.7.5. Port Equipment & Cranes
12.7.6. Functional Products
12.8. Incremental Opportunity Analysis
13. Italy Coatings Market for Performance OEM Analysis and Forecast
13.1. Country Snapshot
13.2. Key Brand Analysis
13.3. Consumer Buying Behavior Analysis
13.4. Key Trends Analysis
13.4.1. Supply Side
13.4.2. Demand Side
13.5. Price Trend Analysis
13.5.1. Weighted Average Selling Price (US$)
13.6. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Type, 2023- 2031
13.6.1. Rental Epoxy
13.6.2. Alkyd
13.6.3. Acrylic
13.6.4. Polyurethane
13.6.5. Others
13.7. Coatings Market for Performance OEM Size (US$ Bn) (Million Liters), by Application, 2023- 2031
13.7.1. Mining Equipment
13.7.2. Industrial Machines
13.7.3. Trucks & Trailers
13.7.4. Rail
13.7.5. Port Equipment & Cranes
13.7.6. Functional Products
13.8. Incremental Opportunity Analysis
14. Competition Landscape
14.1. Competition Dashboard
14.2. Market Share Analysis % (2022)
14.3. Company Profiles [Company Overview, Product Portfolio, Financial Information, (Subject to Data Availability), Business Strategies / Recent Developments]
14.3.1. Hempel A/S
14.3.1.1. Company Overview
14.3.1.2. Product Portfolio
14.3.1.3. Financial Information
14.3.1.4. (Subject to Data Availability)
14.3.1.5. Business Strategies / Recent Developments
14.3.2. BASF SE
14.3.2.1. Company Overview
14.3.2.2. Product Portfolio
14.3.2.3. Financial Information
14.3.2.4. (Subject to Data Availability)
14.3.2.5. Business Strategies / Recent Developments
14.3.3. Helios Coatings, Inc.
14.3.3.1. Company Overview
14.3.3.2. Product Portfolio
14.3.3.3. Financial Information
14.3.3.4. (Subject to Data Availability)
14.3.3.5. Business Strategies / Recent Developments
14.3.4. Altana AG
14.3.4.1. Company Overview
14.3.4.2. Product Portfolio
14.3.4.3. Financial Information
14.3.4.4. (Subject to Data Availability)
14.3.4.5. Business Strategies / Recent Developments
14.3.5. Beckers Group
14.3.5.1. Company Overview
14.3.5.2. Product Portfolio
14.3.5.3. Financial Information
14.3.5.4. (Subject to Data Availability)
14.3.5.5. Business Strategies / Recent Developments
14.3.6. PPG Industries, Inc.
14.3.6.1. Company Overview
14.3.6.2. Product Portfolio
14.3.6.3. Financial Information
14.3.6.4. (Subject to Data Availability)
14.3.6.5. Business Strategies / Recent Developments
14.3.7. Axalta Coating Systems
14.3.7.1. Company Overview
14.3.7.2. Product Portfolio
14.3.7.3. Financial Information
14.3.7.4. (Subject to Data Availability)
14.3.7.5. Business Strategies / Recent Developments
14.3.8. Jotun A/S
14.3.8.1. Company Overview
14.3.8.2. Product Portfolio
14.3.8.3. Financial Information
14.3.8.4. (Subject to Data Availability)
14.3.8.5. Business Strategies / Recent Developments
14.3.9. Yasar Holding A.S.
14.3.9.1. Company Overview
14.3.9.2. Product Portfolio
14.3.9.3. Financial Information
14.3.9.4. (Subject to Data Availability)
14.3.9.5. Business Strategies / Recent Developments
14.3.10. ALLNEX Netherlands B.V.
14.3.10.1. Company Overview
14.3.10.2. Product Portfolio
14.3.10.3. Financial Information
14.3.10.4. (Subject to Data Availability)
14.3.10.5. Business Strategies / Recent Developments
14.3.11. SilcoTek
14.3.11.1. Company Overview
14.3.11.2. Product Portfolio
14.3.11.3. Financial Information
14.3.11.4. (Subject to Data Availability)
14.3.11.5. Business Strategies / Recent Developments
14.3.12. Continental Coatings Inc.
14.3.12.1. Company Overview
14.3.12.2. Product Portfolio
14.3.12.3. Financial Information
14.3.12.4. (Subject to Data Availability)
14.3.12.5. Business Strategies / Recent Developments
14.3.13. Sherwin-Williams Company
14.3.13.1. Company Overview
14.3.13.2. Product Portfolio
14.3.13.3. Financial Information
14.3.13.4. (Subject to Data Availability)
14.3.13.5. Business Strategies / Recent Developments
14.3.14. Akzo Nobel N.V.
14.3.14.1. Company Overview
14.3.14.2. Product Portfolio
14.3.14.3. Financial Information
14.3.14.4. (Subject to Data Availability)
14.3.14.5. Business Strategies / Recent Developments
14.3.15. Nippon Paint Holdings Co., Ltd.
14.3.15.1. Company Overview
14.3.15.2. Product Portfolio
14.3.15.3. Financial Information
14.3.15.4. (Subject to Data Availability)
14.3.15.5. Business Strategies / Recent Developments
14.3.16. Kansai Paint Co., Ltd.
14.3.16.1. Company Overview
14.3.16.2. Product Portfolio
14.3.16.3. Financial Information
14.3.16.4. (Subject to Data Availability)
14.3.16.5. Business Strategies / Recent Developments
15. Go to Market Strategy
15.1. Identification of Potential Market Spaces
15.2. Understanding Buying Process of Customers
15.3. Preferred Sales & Marketing Strategy
List of Tables
Table 1: Europe Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 2: Europe Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 3: Europe Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 4: Europe Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Table 5: Europe Coatings Market for Performance OEM Value (US$ Bn), by Country, 2023-2031
Table 6: Europe Coatings Market for Performance OEM Volume (Million Liters), by Country, 2023-2031
Table 7: U.K. Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 8: U.K. Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 9: U.K. Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 10: U.K. Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Table 11: Germany Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 12: Germany Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 13: Germany Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 14: Germany Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Table 15: France Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 16: France Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 17: France Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 18: France Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Table 19: Spain Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 20: Spain Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 21: Spain Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 22: Spain Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Table 23: Italy Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Table 24: Italy Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Table 25: Italy Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Table 26: Italy Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
List of Figures
Figure 1: Europe Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 2: Europe Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 3: Europe Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 4: Europe Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 5: Europe Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 6: Europe Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
Figure 7: Europe Coatings Market for Performance OEM Value (US$ Bn), by Country, 2023-2031
Figure 8: Europe Coatings Market for Performance OEM Volume (Million Liters), by Country, 2023-2031
Figure 9: Europe Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Country, 2023-2031
Figure 10: U.K. Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 11: U.K. Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 12: U.K. Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 13: U.K. Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 14: U.K. Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 15: U.K. Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
Figure 16: Germany Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 17: Germany Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 18: Germany Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 19: Germany Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 20: Germany Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 21: Germany Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
Figure 22: France Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 23: France Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 24: France Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 25: France Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 26: France Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 27: France Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
Figure 28: Spain Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 29: Spain Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 30: Spain Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 31: Spain Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 32: Spain Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 33: Spain Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
Figure 34: Italy Coatings Market for Performance OEM Value (US$ Bn), by Type, 2023-2031
Figure 35: Italy Coatings Market for Performance OEM Volume (Million Liters), by Type, 2023-2031
Figure 36: Italy Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Type, 2023-2031
Figure 37: Italy Coatings Market for Performance OEM Value (US$ Bn), by Application, 2023-2031
Figure 38: Italy Coatings Market for Performance OEM Volume (Million Liters), by Application, 2023-2031
Figure 39: Italy Coatings Market for Performance OEM Incremental Opportunity (US$ Bn), by Application, 2023-2031
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Europe Coatings Market for Performance OEM
*86 figures and 60 tables includes