The Corona crisis has also affected the paint and coatings industry. The 10 largest paint and coatings manufacturers in the world lost 3.0 % of their sales turnover on a EUR basis in the first quarter of 2020.
According to Chem Research, the B2B market research and consulting institute specialising in paints and coatings, adhesives and sealants, sales of architectural coatings remained at the previous year's level in the first quarter of 2020, while sales of industrial coatings were just under 5% down on the previous year.
Sales drop in the industrial coatings segment
For the coming quarter, a sharp sales drop of up to 30 % is expected, particularly in the industrial coatings segment, as production volumes in the key sectors of automotive production and metal processing have fallen drastically. The individual companies are showing different trends, which is due to their segment and regional mix or acquisition activities. The companies with a high proportion of automotive series and industrial coatings in their product portfolio show a much more negative development.
With sales of approximately EUR 52 bn in 2019, the TOP 10 companies have a share of around 45% of the global market for paints and coatings.
The Corona crisis has also affected the paint and coatings industry.