Report Description

Forecast Period

2024-2028

Market Size (2022)

USD2.76 billion

CAGR (2023-2028)

3.84%

Fastest Growing Segment

Acrylic

Largest Market

London

 

Market Overview

United Kingdom Paints & Coatings Market has valued at USD2.76 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 3.84% through 2028. The government's stringent Volatile Organic Compounds (VOC) regulations have not only forced manufacturers to innovate, but also compelled them to produce environmentally friendly products that align with the growing global focus on sustainability. This has led to an increased awareness and popularity of Leadership in Energy and Environmental Design (LEED)-certified products, as consumers are becoming more conscious of the impact their choices have on the environment.

Another key area of growth within the UK paints and coatings market is the paint, wallpaper, and supplies sector. With a wide range of colors, textures, and finishes available, consumers have more options than ever to express their personal style and make their living spaces unique. This has contributed to the market's growth and the increased demand for high-quality decorative coatings.

Despite the impressive growth, the market has not been without its challenges. Fluctuating raw material prices and the impact of Brexit on trade and regulations are some of the hurdles the industry has had to overcome. However, the paints and coatings market in the UK has shown resilience and adaptability, with manufacturers finding innovative solutions to navigate these obstacles.

Additionally, the UK's focus on decorative and industrial coatings is noteworthy. Decorative coatings not only enhance the aesthetic appeal of buildings and structures, but also provide crucial protection against weathering, UV radiation, and other environmental factors. On the other hand, industrial coatings play a vital role in safeguarding machinery and equipment from corrosion, abrasion, and wear, ensuring their longevity and optimal performance.

In conclusion, the UK paints and coatings market is a dynamic and continuously evolving industry, spurred by factors such as stringent environmental regulations, increasing demand for architectural coatings, and the rising popularity of decorative and industrial coatings. Despite facing challenges, the market continues to thrive and shows promising potential for future growth as manufacturers and consumers alike prioritize sustainability, functionality, and aesthetics in their choices.

Key Market Drivers

Growth in Construction Industry

A thriving construction sector directly impacts the demand for paints and coatings. These products are essential in construction for both aesthetic and protective purposes. As more buildings, both residential and commercial, are erected, the need for paints and coatings also escalates.

The increase in construction activities in the UK has been driven by various factors. Infrastructure projects, such as road and rail networks, have received significant investments, leading to extensive construction work. Additionally, housing developments to address the growing population and commercial construction projects to support business expansion have contributed to the upward trajectory of the construction industry.

This resurgence in the construction sector has triggered an increased demand for paints and coatings, providing a significant boost to the market. Architectural coatings, a segment of the paints and coatings market, has particularly benefited from the construction boom. In 2021, it accounted for a substantial 68.25% share of the UK paints and coatings market.

The growth in the construction sector has led to a higher demand for architectural coatings, which are extensively used in both interior and exterior applications in buildings. These coatings not only enhance the visual appeal of structures but also provide protection against weathering, moisture, and other environmental factors.

Furthermore, the growing focus on sustainability in the construction sector has also influenced the paints and coatings market. There is an increasing demand for eco-friendly, low-VOC (volatile organic compounds) paints and coatings. This shift towards sustainable construction practices is encouraging manufacturers to innovate and develop greener products that meet the environmental standards while still delivering high performance.

In conclusion, the growth in the construction industry is a key driver of the UK paints and coatings market. As the construction sector continues to expand, fueled by infrastructure projects, housing developments, and commercial construction, it is expected to further propel the paints and coatings market. The architectural coatings segment, in particular, is set to benefit from this growth, along with the increasing demand for sustainable and environmentally-friendly product offerings in the construction sector.

Surge in Technological Advancements

In the world of paints and coatings, technology plays a pivotal role in enhancing product performance, versatility, and overall customer satisfaction. Technological advancements have revolutionized the industry, leading to the development of superior quality paints and coatings that offer enhanced durability, impeccable finish, and exceptional application properties.

The influence of technology on the UK paints and coatings market is profound and far-reaching. It has not only brought about significant improvements in product performance but has also opened up new avenues for growth and innovation. These advancements have empowered manufacturers to produce high-performance products that effectively cater to the evolving needs of various sectors, including construction, automotive, and industrial applications.

One of the most notable and exciting technological breakthroughs in the paints and coatings industry is the advent of smart coatings. These cutting-edge coatings have the ability to respond to environmental stimuli, providing self-healing capabilities, superior corrosion resistance, and even antimicrobial properties. The increasing adoption of smart coatings across various industries is expected to drive substantial growth in the paints and coatings market in the UK.

Furthermore, with the growing emphasis on sustainability and environmental consciousness, technology has played a crucial role in the development of eco-friendly paints and coatings. Advanced technologies have facilitated the production of low-VOC (Volatile Organic Compounds) and water-based paints and coatings, which not only offer superior performance but also have a significantly lower environmental impact. This shift towards sustainability and eco-friendliness is likely to further fuel the growth of the paints and coatings market in the UK.

In conclusion, technology continues to shape and elevate the paints and coatings industry, providing innovative solutions that meet the increasing demands of customers while also promoting sustainability and environmental responsibility. The ongoing advancements and investments in technology are expected to drive continuous growth and transformation in this dynamic sector.


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Key Market Challenges

Volatility in Price of Raw Materials

The paints and coatings industry heavily relies on various raw materials such as resins, pigments, solvents, and additives. These materials are essential for achieving the desired properties, performance, and aesthetics of the final products. However, the volatile prices of these raw materials can significantly impact the cost of production, thereby affecting the overall profitability of businesses in this sector.

The volatility in raw material prices poses a considerable challenge for the UK paints and coatings market. Rising and fluctuating raw material and commodity prices are not limited to this industry but are affecting various sectors, including supermarkets, white goods, electronics, and automotive. The unpredictable nature of these price fluctuations makes it difficult for businesses to plan and budget effectively. Moreover, this volatility can lead to increased production costs, which in turn can result in higher product prices, potentially dampening consumer demand.

In conclusion, the volatility in the price of raw materials is an ongoing and complex challenge faced by the UK paints and coatings market. As this issue continues to unfold, it will be crucial for companies in this sector to adopt effective strategies to mitigate its impact and ensure their continued growth and profitability. These strategies may include diversifying suppliers, exploring alternative raw materials, and implementing efficient inventory management systems. By proactively addressing the challenges posed by raw material price volatility, businesses can position themselves for long-term success in this competitive industry.

Key Market Trends

Increasing Demand for Sustainable Products

Driven by growing environmental awareness and strict regulations, both consumers and businesses are increasingly gravitating towards sustainable products in the paints and coatings sector. This notable trend is particularly evident in the significant demand for products manufactured with waterborne technology, which are widely regarded as more environmentally friendly compared to solvent-based or powder coatings.

One of the leading players in this sustainability movement is the rise of low-Volatile Organic Compounds (VOC) paints and coatings. These innovative products are specifically designed to minimize the release of harmful emissions into the atmosphere, gaining considerable traction due to the industry's surging demand for environmentally friendly and sustainable solutions.

The increasing demand for sustainable products is significantly influencing the UK paints and coatings market, not only driving innovation and technological advancement but also fueling market growth. Manufacturers are increasingly focusing on sustainability and innovation in their product offerings, aligning with stringent VOC regulations and the growing awareness of LEED-certified products. This underscores the significance of this trend and further emphasizes the positive trajectory of the UK Architectural Coatings Market, which is poised for growth.

As the demand for sustainable products continues to rise, the UK paints and coatings market is expected to witness continued growth and transformation, driven by the pursuit of a more environmentally conscious and sustainable future.

Segmental Insights

Resin Type Insights

Based on the category of resin type, the acrylic segment emerged as the dominant player in the United Kingdom market for paints & coatings in 2022. Acrylic is renowned for its remarkable versatility and exceptional high performance. With its wide range of applications, it has gained recognition in various industries. Its outstanding color and gloss retention properties make it an excellent choice for both interior and exterior projects, ensuring a long-lasting and visually appealing finish.

When it comes to durability, acrylic paints and coatings truly excel. They possess exceptional resistance to environmental factors, enabling them to withstand even the harshest weather conditions. Additionally, they offer superior water resistance and are highly resistant to chalking, guaranteeing their longevity and reliability. This makes them the ideal choice for sectors such as construction and automotive, where enduring performance is of utmost importance.

In line with the growing emphasis on sustainability, acrylic paints and coatings have gained significant traction due to their lower environmental impact compared to other resin options. Notably, acrylic coatings are typically low in Volatile Organic Compounds (VOCs), aligning perfectly with the increasing demand for environmentally friendly products. By choosing acrylic, industries can not only achieve exceptional performance but also contribute to a greener future.

Application Insights

The architectural segment is projected to experience rapid growth during the forecast period. The growing environmental awareness among consumers has significantly influenced the dominance of architectural applications. With the increasing emphasis on sustainability, water-based architectural coatings have emerged as a preferred choice. Not only are they compliant with environmental regulations, but they also offer the advantage of easy application and quick-drying properties. These features make water-based coatings highly appealing to environmentally conscious consumers who value both performance and eco-friendliness.

Moreover, the continuous technological advancements in the field of architectural coatings have led to the development of high-quality products that surpass traditional options. These innovative coatings not only provide superior durability but also offer enhanced aesthetic appeal, meeting the evolving demands of modern architecture. As a result, their demand in the market has witnessed a significant boost, as architects and consumers alike seek coatings that combine functionality with visual appeal, ensuring long-lasting protection and stunning finishes.


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Regional Insights

London emerged as the dominant player in the United Kingdom Paints & Coatings market in 2022, holding the largest market share in terms of value. London's leading position in the UK paints and coatings market can be largely attributed to the city's extensive construction and infrastructure development activities. The UK government, recognizing the importance of affordable housing, has allocated a substantial budget of USD 7.13 billion to build up to 130,000 affordable homes outside of London by March 2026.

This significant investment in infrastructure development not only addresses the housing needs but also directly contributes to the demand for paints and coatings, propelling London to the forefront of the market.

Moreover, London is not only a hub for construction but also home to a high concentration of various industries, including automotive, aerospace, marine, and others. These industries, with their diverse requirements for paints and coatings, further strengthen London's dominance in the market.

The city's vibrant industrial landscape creates a constant and growing demand for specialized coatings, ranging from protective coatings for automotive applications to corrosion-resistant coatings for marine vessels. This synergy between diverse industries and the paints and coatings market solidifies London's position as a key player in the industry, attracting global manufacturers and driving innovation in the sector.

Recent Developments

  • In 2022, AkzoNobel, a Dutch multinational company known for its excellence in producing paints and coatings, proudly announced a groundbreaking joint venture with Valspar, a renowned American multinational company that shares a similar reputation in the industry. This strategic collaboration aims to leverage the combined expertise, resources, and innovative capabilities of both companies to develop an extensive range of high-quality paints and coatings.
  • With a shared commitment to pushing the boundaries of technology and meeting diverse application needs, this collaboration promises to deliver exceptional solutions that will transform the way we perceive and experience paints and coatings.

Key Market Players

  • AkzoNobel UK Ltd.
  • Sherwin-Williams UK Coatings Ltd
  • PPG UK Ltd.
  • Axalta Coating Systems Ltd
  • Crown Paints Ltd.

 By Resin Type

By Application

By Region

  • Acrylic
  • Alkyd
  • Epoxy
  • Polyurethane
  • Polyester
  • Others
  • Architectural
  • Industrial
  • Others
  • Scotland
  • South-East
  • London
  • South-West
  • East-Anglia
  • Yorkshire & Humberside
  • East Midlands

 

Report Scope:

In this report, the United Kingdom Paints & Coatings Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United Kingdom Paints & Coatings Market, By Resin Type:

o   Acrylic

o   Alkyd

o   Epoxy

o   Polyurethane

o   Polyester

o   Others

  • United Kingdom Paints & Coatings Market, By Application:

o   Architectural

o   Industrial

o   Others

  • United Kingdom Paints & Coatings Market, By Region:

o   Scotland

o   South-East

o   London

o   South-West

o   East-Anglia

o   Yorkshire & Humberside

o   East Midlands

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United Kingdom Paints & Coatings Market.

Available Customizations:

United Kingdom Paints & Coatings Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

United Kingdom Paints & Coatings Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]               

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Applications

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    United Kingdom Paints & Coatings Market Outlook

4.1.  Market Size & Forecast

4.1.1. By Value

4.2.  Market Share & Forecast

4.2.1. By Resin Type (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, Others)

4.2.2. By Application (Architectural, Industrial, Others)

4.2.3. By Region

4.2.4. By Company

4.3.  Market Map

4.3.1. By Resin Type

4.3.2. By Application

4.3.3. By Region

5.    Scotland Paints & Coatings Market Outlook

5.1.  Market Size & Forecast          

5.1.1. By Value

5.2.  Market Share & Forecast

5.2.1. By Resin Type

5.2.2. By Application

6.    South-East Paints & Coatings Market Outlook

6.1.  Market Size & Forecast          

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Resin Type

6.2.2. By Application

7.    London Paints & Coatings Market Outlook

7.1.  Market Size & Forecast          

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Resin Type

7.2.2. By Application

8.    South-West Paints & Coatings Market Outlook

8.1.  Market Size & Forecast          

8.1.1. By Value

8.2.