Europe Decorative Paints Market

Market Introduction

The European continent comprises several developing economies, including Germany, France, Italy, UK, and Russia, among others. The rise in the number of infrastructure projects which is due to the increasing investments and economic recovery will drive the European decorative paints market demand. The construction practices and pavement design mostly require high-quality materials to fulfill various infrastructure standards. Increasing demand for better living quarters from a new middle class has a positive effect on decorative paints. Architectural paints consumed and produced in Western Europe are nearly exclusively medium to premium products, as the consumer interest in home decoration remains high. Also, economical products have traditionally been popular in Russia and Central Eastern Europe. The preferences regarding the paint's quality will change towards premium products in the long-term as the standard of living improves in the European region. The increase in paint consumption has historically correlated with the rise in the standard of living. Currently, the decorative paints market in Western Europe is relatively mature, and sales are anticipated to increase moderately. In addition, in Central Eastern Europe and the CIS countries, the current decorative paint consumption per capita is notably lower than in Western Europe. However, the consumption is anticipated to pick up in Central Eastern Europe and the CIS area as the standard of living increases.

In Europe, as per the recent data, France has recorded the highest number of COVID cases. Other than this, Russia, UK, Italy, Germany and Spain have also been hit hard and are expected to suffer an economic hit due to a lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. In February 2021, the construction production decreased by 1.6% in the EU compared with January 2020 due to the impact of COVID. The restrictions on public transport as well as international movements across Europe will impact the architectural and automotive market in Europe and in turn affecting the decorative paints market.

Europe Decorative Paints Strategic Insights

Strategic insights for the Europe Decorative Paints provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Decorative Paints Report Scope

Europe Decorative Paints Regional Insights

The geographic scope of the Europe Decorative Paints refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The decorative paints market in Europe is expected to grow to US$ 36,702.64 million by 2028 from US$ 21,546.26 million in 2020. The market is estimated to grow at a CAGR of 6.9% from 2020 to 2028.  The use of materials paired with advanced technology and product formulations has always been significant criteria in rapidly growing economy. In paints business, the use of advanced and functional decorative paints is considered as rapidly growing trend. The use of intelligent architectural paints to regulate temperature and heat transfer in different climatic conditions is considered to be one of the major evolving trend in the decorative paints market. Additionally, the use of solar reflective emulsion in such paints helps to reduce the impact of heat and helps to keep the surface up to five degrees cooler. Such paints are furnished with distinct color-lock technology which aims to preserve color for years and avoids film deterioration from infra-red rays. Further, the use of high quality paints with better polymers offering high aesthetic appeal and appearance is another significant trend accepted in the economy. Manufacturers such as Akzo Nobel offers such types of decorative paints under its brand, Dulux Velvet Touch Pearl Glow. Such type of paint consists of a glow of pearls along with touch of velvet, which helps to impart unique rich paint providing a rich and aesthetic feel. Other than this, significant innovation in architectural paints are aimed to prevent the growth of mould and algae on wall paints applied in interior applications in humid environments. The companies are looking forward to innovate and design paints which promotes energy conservation. Additionally, several architectural paints incorporate light reflecting interior emulsion which helps to brighten up the living and working space area, thus, enhancing its overall appeal. Thus, all such advancement backed by strong research and new product development activities to create functional paints to promote growing demand from customers are expected to promote the demand for decorative paints in the economy.

Key Market Segments

Europe decorative paints market is segmented based on type and application. The Europe decorative paints market based on type is segmented into water based and solvent based. Water based segment accounted for the highest share in the market in 2019 and is expected to be fastest growing during forecast period. Based on application, is segmented into residential and non-residential. Residential segment accounted for the highest share in 2019 and non-residential segment is expected to be the fastest growing during forecast period.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on decorative paints market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Akzo Nobel N.V.; BASF SE; Dow Inc.; Axalta Coating Systems; PPG Industries Inc.; RPM International Inc.; and Kansai among others. 

Reasons to buy report

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe decorative paints market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in Europe decorative paints market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the decorative paints market as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution  

EUROPE DECORATIVE PAINTS MARKET SEGMENTATION

Europe Decorative Paints Market – Type

• Water based
• Solvent based

Europe Decorative Paints Market – By Application

• Residential
• Non-Residential

Europe Decorative Paints Market – By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe