MAINZ, Germany — Market research and consulting firm CHEM Research GmbH released results from its most recent analysis of coatings production in Europe. According to the firm, paint and coatings production in Europe during October 2020 was 1.2% above the previous year’s level. The firm reports that production volume for paints and coatings in Europe continues to increase, but growth is losing momentum. In October 2020, data indicated a production rise of +1.0% over the previous month and a level that is +1.2% higher than in October 2019. Output in Germany for this product group is recovering more slowly than other European countries.
In the EU economic area excluding Germany, the index rose by 0.6 % from the previous month. This represents an increase of +3% in a year-over-year comparison. However, cumulated data from January to October 2020 show a production level drop of -5.7% due to the dramatic slump between March and May.
According to CHEM Research, the German production index for paints and coatings rose by +2.1% in October from the previous month. Compared to 2019, this represents a decline of 5%. The cumulated January-October production index reveals a decrease of -7.4% year-over-year. The firm points out that this information illustrates the different rate of recovery among the leading European paint and coatings producing countries. Since August 2020, many countries have returned to at least the previous year’s production levels. In comparison, German production has remained at a lower level of about -5%, strongly influenced by the lower industrial coating demand, especially auto OEM production.
CHEM Research is a long-standing partner of the Association of the German Paint and Printing Ink Industry (VdL) and issues reports on the development of the paint and coatings market at regular intervals.