Europe Coatings Market for Performance OEM: Introduction

The coatings market for performance OEM in Europe was valued at € 1 Bn in 2019 and is anticipated to expand at a CAGR of ~4% during the forecast period. The coatings market for performance OEM in Europe is driven by the increase in demand for coatings in the mining equipment industry in the region. Germany accounts for a major share of the coatings market for performance OEM in Europe, led by high demand for OEM coatings for rail locomotives, freight, and passenger cars segments in the region.

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Key Drivers of Europe Coatings Market for Performance OEM

The growth in infrastructure of rail network, locomotives, freight, and passenger carriage is driving the coatings market for performance OEM. Rail transport is considered safer and more economical than other means of transportation. Alstom SA, Bombardier, CAF, Talgo, Siemens, and Skoda are major Europe-based rail manufacturers. In May 2020, Alstom SA, a France-based rail locomotive manufacturer, delivered the first of the 12,000-horsepower, Prima T8 electric locomotives for Indian Railways.

Rail locomotives and passenger wagons are more vulnerable to corrosion due to the moisture present in air. Many companies such as PPG, Akzonobel NV, and Nippon Paint Holdings Co., Ltd. manufacture epoxy and polyurethane coatings, especially for rail locomotives. Increase in demand for rail transport and rise in export of rail locomotives from Europe to other parts of the world are estimated to boost the demand for coating solutions in the rail industry.

Rise in Demand for Passenger and Commercial Vehicles to Offer Lucrative Opportunities

According to the data published by the European Automobile Manufacturers' Association (ACEA), 91.5 million vehicles were produced in Europe in 2015. Europe accounted for the largest growth in terms of market share (3.8%) in 2015. Germany is the largest vehicle manufacturer in Europe, while the Czech Republic and Poland have high growth rates in the auto sector. As per the new passenger vehicle registration data released by the European Automobile Manufacturers' Association (ACEA), total number of automotive vehicles rose by 1.2% from 15,624,948 units of cars sold in 2018 to 15,805,752 units of cars sold in 2019. The volume of vehicles sold by Europe-based companies is estimated to increase in the near future, owing to the rise in demand for electric vehicles in the region.

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Major companies such as Volkswagen, PSA Group, Renault Group, and BMW are shifting toward the production of electric vehicles. Increase in demand for automotive vehicles is expected to propel the sales of automotive coatings, as these coatings help safeguard metal body parts from corrosion. Majority of coatings used by OEM manufacturers are purchased from key players such as PPG, BASF SE, and DuPont.

According to the information published by the Russian Federal Customs Service, Russia imports coatings for the automotive industry, primarily from Europe and Southeast Asia. Major importers are PPG, BASF SE, and DuPont. These companies jointly supply 90% of coatings used in the finished vehicle assembly plants in Russia and 80% of coatings used by repair workshops.

High Production Cost of Calcium Hydride to Hamper Europe Coatings Market for Performance OEM

Coatings are susceptible to environmental conditions such as temperature and humidity during the curing phase. This makes them impractical in certain climates. Changing from solvent-borne coatings to waterborne coatings requires significant amount of investment, as most of the industrial production lines are already set up for solvent-based coatings. This is another key challenge for the coatings market for performance OEM in Europe.

Germany Dominates Europe Coatings Market for Performance OEM

Germany held 19.3% share of the coatings market for performance OEM in Europe in 2019. Its share is anticipated to reach 20.0% by the end of the forecast period. Together, Italy and France accounted for 27.3% share of the coatings market for performance OEM in Europe in 2019. Their cumulative share is anticipated to decline marginally to reach 27.2% by the end of the forecast period.

Consolidated Nature of Europe Coatings Market for Performance OEM

The coatings market for performance OEM in Europe is fragmented. Currently, the coatings market for performance OEM is expanding. Key players are focusing on research and development activities. Companies operating in the coatings market for performance OEM in Europe are investing to expand their product portfolios as well as distribution networks. They have adopted strategies such as mergers acquisitions, development of new products, joint ventures, and expansions to meet the increasing demand for coatings from different countries in Europe.

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Other companies operating in the coatings market for performance OEM in Europe are Akzonobel NV and Sherwin-Williams Company. Majority of the market is covered by small manufacturing companies whose lower price impacts the sales of multinational corporations such as Akzonobel NV, PPG Industries, and Nippon Paint.

Europe Coatings Market for Performance OEM: Segmentation

Europe Coatings Market for Performance OEM, by Type

• Epoxy
• Alkyd
• Acrylic
• Polyurethane
• Others (including PTFE, PVDF, PVDC, Chlorinated Rubber, Inorganic Zinc, and Fluorinated Polymers)

 Europe Coatings Market for Performance OEM, by Application

• Trucks Trailers
  • Trucks Body Builders
  • Trailers
  • Agriculture Trailers

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High Demand for Wear Resistant Coatings Expected to Aid Market Growth

Among various end-use industries, mining and automotive sectors are likely to remain at the forefront in terms of market share and value. The demand for wear resistant coatings for performance OEM across the European region has witnessed a remarkable growth, owing to the growth of the automotive and the mining sector in the region.

Moreover, over the past few years, the demand from the cement and the concrete manufacturing industry has increased at a consistent rate due to which, market players are increasingly capitalizing on the opportunities in various sectors. The growing demand for wear resistant coatings made from epoxy and polyurethane can be primarily attributed to the required anti-abrasion properties and exceptional resistance to high stress grinding.

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