PUBLISHER: Inkwood Research | PRODUCT CODE: 1284971
PUBLISHER: Inkwood Research | PRODUCT CODE: 1284971
The Europe paints & coatings market is expected to grow with a CAGR of 3.95% during the forecast years of 2023 to 2032. The region's key market growth drivers include the surging investments across Europe's wind energy sector, the increasing usage of protective coatings within the offshore wind turbine industry, and the rapidly augmenting automotive sector.
The Europe paints & coatings market growth analysis covers an in-depth assessment of the United Kingdom, Spain, Italy, Belgium, Germany, France, Poland, and Rest of Europe. In France, the market for paints & coatings is rapidly increasing, primarily due to its application across the automotive industry. Over recent years, leading international players, like General Motors and Toyota, have raised their investments in France. As a result, this factor is likely to increase the demand for paints & coatings, particularly from the nation's automotive industry. The federal government of France is also planning to propose the introduction of new policies in order to aid domestic automobile manufacturers, such as Renault SA, PSA, and Peugeot Citroen.
Conversely, the demand for paints & coatings in Italy is primarily derived from the country's sectors, such as aerospace, construction, and automotive. Italy's automotive industry is also increasing at a substantial rate, owing to the new production lines and growing investments. Hence, the aforementioned factors are expected to drive the paints & coatings market growth in Europe during the forecast period.
Some of the leading players operating in the market include: Akzo Nobel, Jotun Group, etc.