Europe Decorative Paints Market is expected to reach US$ 36,702.64 Mn by 2028


PRESS RELEASE BY The Insight Partners 06 Jul 2021

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Residential segment to dominate the Europe Decorative Paints Market during 2020–2028

 According to The Insight Partners market research study on “Europe Decorative Paints Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Deployment and Application,” is expected to reach 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 report provides trends prevailing in the Europe decorative paints market along with the drivers and restraints pertaining to the market growth. Heavy demand of water based paints, surge in the construction industry, and technological progress along with new product development are the major factor driving the growth of the decorative paints market. However, injurious effects of lead in paints along with expensive cost of raw material hinder the growth of decorative paints market.

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 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.

Akzo Nobel N.V.; BASF SE; Dow Inc.; Axalta Coating Systems; PPG Industries Inc.; RPM International Inc.; and Kansai are among some of the leading companies in the Europe decorative paints market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive decorative paints market.

The report segments the Europe Decorative Paints Market as follows:

Europe Decorative Paints Market – By 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

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