German Industrial Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.06 Billion |
| Market Size (2029) | USD 1.25 Billion |
| CAGR (2024 - 2029) | 3.22 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
German Industrial Coatings Market Analysis
The Germany Industrial Coatings Market size is estimated at USD 1.06 billion in 2024, and is expected to reach USD 1.25 billion by 2029, growing at a CAGR of 3.22% during the forecast period (2024-2029).
Due to the outbreak of COVID-19, the industrial coatings sector was negatively impacted. Sales were affected due to GDP movement. Most production units were shut down due to the lockdowns and shortage of human resources. This resulted in uncertainty among various producers. Furthermore, supply chain constraints significantly obstructed the expansion of the industry. The automotive industry showed sluggish sales, a structural slowdown, and a sputtering economy in 2019-2020. However, the easing of lockdowns, along with incentive packages to support economic revival, benefited the regional automotive industry. The market recovered in 2021 and is expected to grow at a significant rate in the coming years.
- Over the short term, the increasing construction of industrial infrastructure and the growing demand from oil and gas and petrochemical industries are expected to boost the market growth.
- However, the stringent regulations for volatile organic compound (VOC) emissions are expected to hinder the market's growth.
- Nevertheless, the rising demand for eco-friendly coating products is likely to create lucrative growth opportunities for the studied market.
German Industrial Coatings Market Trends
This section covers the major market trends shaping the Germany Industrial Coatings Market according to our research experts:
Flourishing Oil and Gas Sector to Rise the Demand for Protective Coatings
- The oil and gas sector is one of the major end users of protective coatings. The industry requires heat-resistant coatings due to the high-temperature environment of its business operations. The coatings are also used to protect metal and steel structures from corrosion when exposed to moist and damp conditions. They are used in the oil and gas industry for tanks, pipes, valves, pumps, etc.
- The oil and gas industry uses protective coatings for both upstream and downstream segments to prevent corrosion during oil and gas transportation toward refineries. The industry has been trying to find ways to cut capital charges. Along with the need to adhere to strict environmental regulations, this has led to the demand for a coating system with a long life, which may be effective in protecting assets.
- Offshore oil and gas production has some of the most demanding conditions. Therefore, the coating systems used must be equipped for these conditions. Prolonged exposure to penetrating UV rays and constant contact with rough seawater increases the need for industrial coatings.
- However, with the Russia-Ukraine war, Germany has taken steps to halt the process of certifying the Nord Stream Two gas pipeline from Russia, besides other sanctions, in support of Ukraine. The temporary halts on the imports of petroleum and allied products from Russia are likely to affect the market studied in the country.
- According to BP Stats, the total oil consumption in Germany was 2,045 thousand barrels per day in 2021, registering a decline rate of 0.2% compared to 2,049 thousand barrels per day in 2020.
- As per the same source, the total natural gas consumption in the country was 90.5 billion cubic meters in 2021, registering a growth rate of 4.2% from 87.1 billion cubic meters in 2020.
- All the above-motioned factors are expected to augment the demand for protective coatings for the oil and gas industry during the forecast period.
Rising Usage of Epoxy Resins
- Epoxy resins are reinforced polymer composites derived from petroleum sources. They are the result of a reactive process involving epoxide units. These resins are used as binders for coating applications to enhance the durability of coatings for floor and metal applications.
- Epoxy coatings are suitable for steel applications in harsh operating environments because of their resistance to corrosion, abrasion, and weathering. These coatings are also resistant to extremely high temperatures, making them suitable for use on tanks that store hot products and are exposed to extreme heat.
- Industrial epoxy coatings are commonly used in three layers. Firstly, a primer, such as zinc primer, is applied. The epoxy is then sprayed on. An epoxy binder or polyurethane topcoat is applied to complete the coating process.
- Epoxy polyamide coatings are ideal for moisture resistance, epoxy mastic coatings are used for film thickness, and phenolic epoxy coatings are excellent for chemical resistance. Depending on the application, epoxies can be used as a priming, intermediate coat, or even a topcoat.
- Epoxy resins are frequently used as binders in industrial coatings. Those coatings provide high adhesion and high chemical (corrosion) and physical resistance for use on ships and chemical storage tanks.
- Due to their availability, epoxy coatings find numerous industrial applications. Epoxy powder coatings are used on washers, dryers, white goods, steel pipes, and fittings used in the oil and gas industry, water transmission pipelines, and concrete reinforcing rebar due to their flexible applicability.
- Several advantages of epoxy coatings are:
- Epoxy coatings are long-lasting, cost-effective, waterproof, and shock-resistant.
- They are used to improve operational safety since they are not slippery like polished concrete.
- Epoxy increases visibility with its high sheen, reflecting light sources and improving visibility making for a safer working environment.
- All the above-mentioned factors may augment the demand for epoxy resins for the market studied during the forecast period.
German Industrial Coatings Industry Overview
The Germany industrial coatings market is partially consolidated in nature. Some of the major key playersin the market include PPG Industries Inc., The Sherwin-Williams Company, AkzoNobel NV, Axalta Coating Systems and Jotun.
German Industrial Coatings Market Leaders
-
PPG Industries Inc.
-
The Sherwin-Williams Company
-
AkzoNobel N.V
-
Axalta Coating Systems
-
Jotun
*Disclaimer: Major Players sorted in no particular order
German Industrial Coatings Market News
- In July 2022, The Mipa SE took over the business of Süddeutsches Lackwerk. The products will be manufactured at Mipa Group production sites in the future. Süddeutsches Lackwerk has produced classic industrial coatings, and high-temperature paints and functional coatings under the "Wetterwart" brand in Feldkirchen near Munich.
- In April 2022, The Sherwin-Williams Company announced the completion of its acquisition of Sika AG's European industrial coatings business. The purchased company would be integrated into the company's performance coatings group operating unit.
German Industrial Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Industrial Infrastructure Construction
- 4.1.2 Growing Demand from Oil and Gas and Petrochemical Industries
-
4.2 Restraints
- 4.2.1 Stringent Regulations for VOC Emissions
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Value)
-
5.1 Resin Type
- 5.1.1 Epoxy
- 5.1.2 Acrylic
- 5.1.3 Alkyd
- 5.1.4 Polyurethane
- 5.1.5 Other Resin Types
-
5.2 Technology
- 5.2.1 Water-borne Coatings
- 5.2.2 Solvent-borne Coatings
- 5.2.3 Radiation-cured Coatings
- 5.2.4 Powder Coatings
-
5.3 Type
- 5.3.1 General Industrial
- 5.3.2 Protective
- 5.3.2.1 Oil and Gas
- 5.3.2.2 Mining
- 5.3.2.3 Power
- 5.3.2.4 Infrastructure
- 5.3.2.5 Other Protectives
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 AkzoNobel NV
- 6.4.2 Axalta Coating Systems
- 6.4.3 Beckers group
- 6.4.4 Hempel AS
- 6.4.5 Jotun
- 6.4.6 MIPA SE
- 6.4.7 PPG Industries Inc.
- 6.4.8 RPM International Inc.
- 6.4.9 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Rising Demand for Eco-friendly Coatings
German Industrial Coatings Industry Segmentation
Industrial coatings can be classified as water-based, solvent-based, and powder coatings based on the drying technique employed. The raw materials for producing industrial coatings include base chemicals, such as additives, resins, pigments, and solvents. Water-based coatings contain water as a volatile compound, and solvent-based coatings contain volatile compounds like benzene. Powder coatings are applied to the surface using appropriate techniques and equipment.
The German industrial coatings market holds the potential for backward integration. By resin type, the market is segmented into epoxy, acrylic, alkyd, polyurethane, and other resin types. By technology, the market is segmented into water-borne coatings, solvent-borne coatings, radiation-cured coatings, and powder coatings. By type, the market is segmented into general industrial and protective (oil and gas, mining, power, infrastructure, and other protectives). The report offers the market size and forecasts in terms of revenue (USD million) for all the above segments.
| Resin Type | Epoxy | |
| Acrylic | ||
| Alkyd | ||
| Polyurethane | ||
| Other Resin Types | ||
| Technology | Water-borne Coatings | |
| Solvent-borne Coatings | ||
| Radiation-cured Coatings | ||
| Powder Coatings | ||
| Type | General Industrial | |
| Protective | Oil and Gas | |
| Mining | ||
| Power | ||
| Infrastructure | ||
| Other Protectives |
German Industrial Coatings Market Research FAQs
How big is the Germany Industrial Coatings Market?
The Germany Industrial Coatings Market size is expected to reach USD 1.06 billion in 2024 and grow at a CAGR of 3.22% to reach USD 1.25 billion by 2029.
What is the current Germany Industrial Coatings Market size?
In 2024, the Germany Industrial Coatings Market size is expected to reach USD 1.06 billion.
Who are the key players in Germany Industrial Coatings Market?
PPG Industries Inc., The Sherwin-Williams Company , AkzoNobel N.V , Axalta Coating Systems and Jotun are the major companies operating in the Germany Industrial Coatings Market.
What years does this Germany Industrial Coatings Market cover, and what was the market size in 2023?
In 2023, the Germany Industrial Coatings Market size was estimated at USD 1.03 billion. The report covers the Germany Industrial Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Industrial Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Coating in German Industry Report
Statistics for the 2024 Industrial Coating in German market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Coating in German analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
