Key Market Indicators
The consumption of paint and coatings is projected to decline significantly over the next five years. By 2028, the industry is expected to reach approximately 1.18 billion kilograms, a drop from the estimated 1.39 billion kilograms in 2023. This represents a compound annual growth rate (CAGR) decline of 2.6% year on year. The downward trend has already begun, with demand decreasing by 1.6% year on year. In the European market, Italy, Germany, and the United Kingdom are notable players, occupying the second, third, and fourth spots, respectively, in the ranking of paint and coating consumption.
