CHEM Research12.31.20
The production volume for paints and coatings in Europe continues to increase, but growth is losing momentum.
In October 2020 the index showed a production rise of + 1% over the previous month and a + 1.2% higher level than in October 2019. However, Germany’s output for this product group is recovering more slowly than other European countries’.
In the EU economic area excluding Germany (EU26) the index rose by 0.6% from the previous month.
This represents an increase of + 3% in a year-over-year comparison.
However, cumulated January-October 2020 shows a production level drop of - 5.7% due to the dramatic slump between March and May.
On the other hand, 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.
This illustrates the different rates of recovery among the leading European paint and coating producing countries.
Since August 2020 many countries but Germany 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).
