High Demand from the Automotive Industry
In the automotive sector, paints and coatings impart protection to both interior and exterior surfaces, against various aggressive environmental agents, such as sunlight, corrosive materials, and environmental effects. Additionally, these coatings are used by the automotive body shops and repair centers for vehicle refinishing. The European Automotive Commission has doubled the funds available for cooperative research and innovation in the automotive sector for the period 2014-2020 with the aim to preserve the technological leadership in the automotive sector. The funding focused on green vehicles, decarburization of conventional engines, safety, and information technology infrastructure.
The architectural segment is expected to dominate the market with the highest CAGR during the forecast period. Paints and coatings are used in the exterior and the interior of houses, offices and buildings to give them an aesthetic look, and also to protect the walls and the fundamental structures. They are applied on ceilings, cabinets, windows, and doors. Paints and coatings are applied on the exterior of the house not only to give them a new look but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away and cracking..
Germany Dominates the Market
Germany has the highest share in the market, accounting for nearly 17.6% of the European market share in 2017. The increasing investments in growing automotive industry have highly driven the market for paints and coatings in Germany. Additionally, the German high-speed rail network line is likely to open many opportunities for implementing state-of-the-art transport concepts – the beginning of a new era of rail travel and increase in paints & coatings market.
Key Developments in the Market
• April 2017: Teknos completed the acquisition of Feyco Treffert, a company specializing in wood coatings, and Schekolin AG. The acquisition will provide Teknos with access to new markets in Switzerland, Malaysia, and the United States, and strengthen its position in the global wood segment.
• January 2017 : Sika acquired Bitbau Dörr, a leading Austrian manufacturer of waterproofing systems
Major Key Players are PPG, AKZO NOBEL, CROMOLOGY, DAW, BRILLUX, AXALTA, and BASF, and Other Players Include BECKERS GROUP, BERGER PAINTS INDIA LTD, UJIKURA KASAI, HEMPEL, HENKEL AG & CO. KGAA, JOTUN, J.W.OSTENDORF, KANSAI PAINTS CO. LTD, MANKIEWICZ HAMBURG, NATIONAL PAINTS FACTORIES CO. LTD, RING INTERNATIONAL HOLDING AG, RPM INTERNATIONAL INC., ŚNIEŻKA SA, SHAWCOR LTD, SIKA AG, STO GROUP, TIKKURILA OYJ, TEKNOS GROUP, THE SHERWIN-WILLIAMS COMPANY, and TIGER COATINGS GMBH & CO. KG.
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