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September 17, 2009 12:00 AM

Buoyant use sectors spur demand for protective coatings in Europe

Utech Staff
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    London -- In Europe's mature protective coatings market, growth in coating sales hinges on the success of individual end-user application markets, according to market research experts Frost & Sullivan. As a result. energy sectors including power generation, oil and gas, as well as the bridges and highways markets are growing faster than segments such as water and wastewater, commercial architecture or the manufacturing industries, the company said in an 8 Sept announcement of its European Protective Coatings Market study

    New analysis from F&S (www.chemicals.frost.com) indicates that the market earned revenues of Euro 876.2 million ($1290 million) in 2008 and the group estimates that this will reach Euro 944.6 million by 2015.

    The research covers coatings for: oil and gas, power generation, infrastructure, commercial architecture, water and wastewater and the manufacturing industries.

    More than 360 major players jostle currently for a stake in the protective coatings market in Europe, says F&S. In 2008, unit shipments for this market stood at 118.4 million litres. By 2015, shipments may well reach 121.1 million litres, growing at a rate (CAGR) of 1.1 percent.

    "The protective coatings market will be buoyed by investments in energy facilities, power generation plants, and infrastructure projects," notes Frost & Sullivan research analyst Gaurav Meshram. "Although the current economic downturn is restraining the market, with limited growth projected for several quarters in some applications, growth prospects are set to improve in the near term."

    As a highly mature market, Western Europe is experiencing limited growth in comparison with its rapidly growing Eastern European counterpart, said F&S. Volumes in Western Europe fell by 5 - 7 percent in January 2009, resulting in intensifying competition as coating companies vied for declining market share.

    "Western European protective coating manufacturers should focus on promoting global sales to maintain momentum," advises Meshram, adding that they must also meet customer needs on a continuous basis.

    In the Eastern European sphere, the protective coatings market shows more growth potential, both in volume and revenue, and suppliers there will see revenue growth thanks to robust market growth, said F&S.

    Other influential factors discussed by F&S include environmental legislation and R&D, reliable and sustainable sourcing of raw materials for resin production, and rising raw material costs.

    "

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