Over the coming years, the European building paints market will experience medium growth rates. Both the do-it-yourself (DIY) and professional channels will grow, though the trends affecting these, and consequently their growth rates, will differ across countries. Producers of building paints will face the key challenge of meeting the strict volatile organic carbons (VOC) regulations enforced in 2010. Companies that invest sufficiently in research & development (R&D) to develop innovative high-quality products that meet legislative requirements will experience steady organic growth.
New research from Frost & Sullivan (chemicals.frost.com), A Strategic Assessment of the European Building Paints Market, finds that the market earned revenues of over €6.0 billion in 2006.
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“The European building paints market will experience medium growth in the coming years,” notes Frost & Sullivan Research Analyst Dr. Elizabeth Duplock. “This is due to the rising popularity of DIY and the increasing number of new domestic buildings being constructed.”
In many European countries, DIY is becoming progressively more popular. The trend for coloured paints continues, encouraging people to recoat substrates regularly. In addition, the professional market is also experiencing significant growth rates due to the high level of house building across the continent.
However, changes in European legislation pose a challenge for producers. It is essential that market participants create products that meet the new legislation and are of top quality. Producers that are first to market with such offerings will gain considerable advantage.
“Producers who do not invest in R&D to create products meeting the 2010 VOC legislation face significant problems,” explains Dr. Duplock. “Small local participants, in particular, face a difficult future.”
Companies need to ensure they offer high quality products that meet customer expectations, guarantee the performance of their products and have a marketing strategy ensuring product visibility to end users to gain and retain customer loyalty.
A Strategic Assessment of the European Building Paints Market is part of the Chemical and Materials Growth Partnership Services, which also includes research in the following markets: Plastics & Polymers, Coatings, Adhesives & Sealants, Packaging and Personal Protective Equipment (PPE). All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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