Paint, Coatings & Printing Ink Manufacturing in the UK - Market Size, Industry Analysis, Trends and Forecasts (2024-2028)

Paint, Coatings & Printing Ink Manufacturing in the UK industry analysis

The European Paint, Coatings and Printing Ink Manufacturing industry is forecast to fall at a compound annual rate of 4.6% to reach €60.2 billion over the five years through 2024, including a dip of 3.5% in 2024. The industry has contended with vast fluctuations in demand, with the long-term decline in printing and a stalling of automobile production during COVID-19, which led to declining in revenue in 2021 and 2022. As sales of paints, inks and coatings typically follow the broader economy, sales were boosted by the post-pandemic recovery, although this was short-lived, with strong economic headwinds hitting key downstream markets and raw material suppliers following the Russian invasion of Ukraine. While some of the industry’s most prominent manufacturers are international operators boasting strong regional and global name brand names, supply chains across the board have been hit by a string of raw material price spikes. High inflation and interest rates have curbed consumer and commercial spending, limiting paint sales.

Trends and Insights

• Automotive production sales drive coatings demand. Strong vehicle output in 2023 boosted revenue as vehicle manufacturers are primary buyers of coatings with scratch and corrosion-resistant properties.
• Less toxic paints soar in popularity. Paints with fewer VOCs and made from bio-based materials are growing in popularity as downstream users look to minimise their environmental footprint.
• There’s some diversity in paint and ink offerings. While a handful of large multinational manufacturers dominate the industry, some regional and niche operators are gaining market share.