CHICAGO, Dec. 8, 2020 /PRNewswire/ -- According to the new market research report "European Paints & Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural, Industrial), and Country - Global Forecast to 2025", published by MarketsandMarkets™, the European Paints & Coatings Market size will grow to USD 34.3 billion by 2025 from USD 30.6 billion in 2020, at a CAGR of 2.3% during the 2020-2025 period.
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Browse in-depth TOC on "European Paints & Coatings Market"
120 – Tables
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The resurgence in the growth of the housing and construction sector, increasing gross domestic product (GDP), growing urbanization, and increasing disposable income are driving the paints & coatings market.
Polyurethane resin segment is projected to be the largest segment of the European paints & coatings market.
Polyurethane resin paints possess properties such as high durability, toughness, high gloss, and are easy to clean. Polyurethane paints are also used where high performance is expected, such as oil-rig towers, warehouses, industrial plants, heat-resistant coatings, and bridges. Polyurethane paints are used in wood coatings, aircraft coatings, and construction. Other applications where polyurethane resin paints and coatings can be used are heavy-duty exterior and interior structural coating, clean rooms, paper mills, power plants, offshore structures, oil field machinery, exterior surfaces of steel tanks, handrails, conveyors, and chemical processing equipment.
Industrial is the fastest-growing end-use industry segment of the European paints & coatings market.
Industrial is projected to be the fastest-growing end-use industry of European paints & coatings. An industrial coating or paint is typically defined by its protective rather than its aesthetic properties, although it often provides both. They are used for corrosion control of steel or concrete in numerous applications. Industrial application is segmented into general industrial, automotive OEM, automotive refinish, wood, protective, marine, coil, packaging, aerospace, and others.
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Germany is the largest European paints & coatings country in Europe.
Germany is the most technologically advanced industrial coatings market both in Europe and globally. It is dominating the industrial coatings market in Europe owing to the strong domestic demand, growing demand from the developed automotive industry, increasing uses of corrosion coatings, and growing environmental awareness. Germany is a highly industrialized country and is one of the key industrial coatings markets. The country has been leading the chemical industry in Europe as well as in the world. It is home to several industrial coating manufacturers. Owing to the presence of major manufacturers such as BASF and PPG, it is currently the largest producer of industrial coatings in Europe.
The key players profiled in the European paints & coatings market report are AkzoNobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams Company (US), BASF Coatings GmbH (Germany), and Axalta Coating System LLC (US).
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1. PAINTS & COATINGS MARKET- GLOBAL FORECASTS TO 2025
By Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Waterborne, Solventborne, Powder), Application (Architectural [Residential, Non-residential], Industrial), and Region
2. INDUSTRIAL COATINGS MARKET - GLOBAL FORECASTS TO 2025
By Resin (Polyurethane, Epoxy, Acrylic, Alkyd), Technology (Solvent-based, Water-based, Powder), End-Use Industry (General Industrial, Protective, Automotive, Aerospace, Wood, Packaging), and Region
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