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European Coatings Show Preview December 2014 www european coatings show com 27 Market Emma Burton and Yana Charushkina The paints and coatings mar ket in the majority of Europe has been well established for many years The mature West European market is domi nated by some of the largest international players in the world while Eastern and Cen tral Europe have a growing middle class of consumers helping the demand for paint in all segments to grow The largest paints and coat ings market in Western Europe continues to be Ger many Its market accounts for around one quarter of Western Europe s total paints and coat ings market in terms of volume demand The smallest markets in Western Europe Ireland and Norway are among those that are growing the fastest Ireland and Norway s markets are ex pected to grow by 2 9 and 3 3 over the forecast period to 2018 respectively Although it suffered profusely during the fi nancial crisis Ireland has since exited its bailout programme and its industrial activity is ex pected to grow steadily Nor way increased the amount of licences permitted to drill for oil in the North Sea in 2013 in order to find new supplies The rise in activity from this industry has had a ripple effect positively impacting other sectors in Nor way This country s protective coatings segment for example is expected to increase annually by around 3 3 over the fore cast period Demand volumes UK to overtake France The UK remains among the top five largest markets in Western Europe Furthermore it is also one of the fastest grow ing markets in the region pre dicted to grow by around 2 8 over the next five years among all technology types Further more waterbased products continue to dominate West ern Europe in the architectural segment It is estimated that waterbased products have a 65 market share in this region However in industrial seg ments such as the protec tive coatings segment the split between waterbased and solventbased products in Western Europe is heav ily weighted towards solvent based coatings with the latter having a nearly 90 market share However it is reported that increasingly low VOC products with the same performance quali ties are substituting their solvent based counterparts For example solvent based products for the protective segment in Switzerland France and Belgium now hold a market share of around 80 as water based coatings slowly displace solventbased coatings in these countries The trend of waterbased paints increasing their mar ket share has also become more pronounced in the in dustrial wood coatings seg ment with solventbased and water based coatings both having a market share of ap proximately 40 in Western Europe The industrial wood coatings segment experienc es the most variation from country to country in terms of demand for waterbased vs solventbased coatings The market share of solventbased or waterbased products can nearly double or halve from one country to another de pending on the specific coun try s preferences and eco nomic situation Mixed picture in CEE The growth and prosperity of the Central and East Euro p a over the forecast period By the end of 2013 UK sales of architectural coatings had increased for seven months in a row A rise in consumer confi dence has partially contributed to this the UK has seen faster economic growth than previ ously predicted Additionally it is predicted that the UK paints and coatings market will over take France in terms of demand volume by 2018 North and South a different picture Countries in Western Europe that are expected to experi ence the slowest growth rates over the whole forecast period namely Italy 1 4 Spain 1 6 and Greece 1 4 are also those on which the global fi nancial crisis has had the most dramatic effect However Italy is still also one of the largest national markets in Western Europe Globally it is a front runner in the industrial wood coatings market as a conse quence of its world renowned furniture industry The Nordic countries continue to be characterised by their de mand for eco friendly technol ogies In this area waterbased coatings have an exceptionally high market share compared to the rest of Europe Highest shares architectural coatings In terms of market segmenta tion by end use application the architectural decorative sector holds the highest mar ket share with 62 of the total market in this region As a consequence of the techno logical improvements to their performance the increase in the number of substrates they are compatible with and their environmentally friendly cre dentials powder coatings are predicted to grow the fastest The European coatings market The market research company IRL provides an outlook on the market development until 2018 pean paint market depends on the local economic condi tions as well as on the state of its primary export markets in Western Europe Over the past two decades the Cen tral European countries have made progress in their trans formation from socialism and centralised systems to market oriented democratic economies The regions have been also shattered by the effects of the economic recession Automotive and metal most promising The market for architectural paints although it maintains a solid share in comparison to other coating materials is predicted to show slow growth rates underpinned by the evolution of the construc tion industry in the region Fuelled by recent foreign di rect investments FDIs into the Central European region the most remarkable growth is predicted for the automo tive and metal industries The machinery and transport equipment sectors are also well supported by interna tional trade being the most important export category Therefore the suppliers of coatings can actively ex ploit opportunities for expand ing their product offerings of general industrial protective automotive OEM and plastic coatings in the region Poland highest per per capita consumption Poland is by far the biggest paint consumer among the Central European countries It also has one of the highest paint per capita consumption indicators equal to 14 4 kg per person The market has expe rienced the impact of low VOC and REACH legislation and has followed the West European trend of growth and saturation in the waterbased segment of the architectural and industrial coatings market Among other positive developments of the market are a growth in demand for higher quality and more ex pensive materials xz Architectural coatings are the largest segment in the European paints and coatings market Source IRL