Summary of our market study

The global paint and coatings market is showing significant growth, valued at $168.7 billion in 2022 and projected to reach $228.7 billion by 2028, growing at a CAGR of 5.2%. Demand is driven by construction spending in emerging countries and urbanization boosting the need for decorative paints. Innovations are also propelling growth, with manufacturers focusing on environmentally-friendly products that can adapt to various climatic conditions. In Spain, the paint market exhibited a downturn with a -6.16% sales decrease within the CNAE "2030" category.

However, Spain maintains a competitive stance in paint manufacturing, evidenced by consistent trade surpluses. Despite a decline in new building permits by 2.38% from 2021 to 2022, the rise in building rehabilitation could spark increased paint demand. In terms of consumer behavior, 26% of Spaniards plan to reduce DIY spending due to 2022's inflation impact, yet 24% expect to spend more and 50% anticipate maintaining their current expenditure levels.

Analysis of Spain's Paint Market Demand Trends

Spain's paint market shows a dynamic interplay between the building industry and consumer-decorative paint segments. Nationally tailored to preferences and industrial demands, the market is shaped by varied factors, including construction dynamics, consumer preferences, and regulatory changes. In the realm of individual consumer demand, Spaniards particularly favor white paint. An examination of the top-selling paints reveals a consistent choice for this color, suggesting a cultural predilection or a choice for its versatile application across various environments, both interior, and exterior. However, consumer spending trends are complex and influenced by broader economic contexts. The inflation rate, which hit 8.4% in 2022, has affected consumption habits, including DIY activities. While approximately one-quarter of the population plans to cut back on DIY spending, an equal proportion expects to increase expenditures. This indicates a diverse consumer base where different segments may react uniquely to economic pressures.

The construction sector remains a significant consumer of painting services. Interestingly, while there was a slight decline in building permits by about 2.38% from 2021 to 2022, a previous surge was observed with a 66.88% increase between 2019 and 2021. This suggests a previously expanding construction market that could have long-term implications on paint demand, especially as building renovations and thermal rehabilitation become more prominent due to Spain's energy efficiency efforts. Spain's ambitious targets for building insulation hint at a potential ripple effect on the demand for paint, as insulation work often necessitates subsequent painting. Since only 6% of Spanish homes were considered energy-efficient as of 2020, the drive towards improving thermal insulation could represent an opportunity for the paint market. Overall, the Spanish paint market exhibits characteristics of a growing, yet variable demand shaped by household preferences, economic factors, and the evolving needs of the construction industry.

Prominent Players Shaping the Spanish Paint Industry Landscape

The Spanish paint industry is characterized by a diverse ecosystem of players, ranging from homegrown manufacturers to major global conglomerates with specialized paint-related divisions. These companies not only compete but also complement each other, catering to various segments within the industry, including the building and consumer decorative paint market.

Local Titans in Paint Production:

  • Ibersa Pinturas: Operating since 1967, Ibersa stands out as a key Spanish manufacturer, specializing in the production of industrial coatings and paints. Dedication to quality and innovation has enabled them to cater to various sectors including automotive, industrial, and decorative markets.
  • Pinturas Colom: Serving the industry for over half a century, this family-owned enterprise has been crafting a range of paint products, prioritizing sustainability and customer satisfaction in their operations.
  • Jallut: With a strong presence in the market, Jallut paints are recognized for their wide range of colors and high-quality finishes, catering to both professionals and individual consumers.
  • Pinturas Ecu: This company's commitment to excellence is evident in their competitive offerings, which include a selection of paints for interiors, exteriors, and industrial purposes.
  • Galpi: An established player known for providing a variety of paint products suitable for diverse applications, from household DIY projects to professional construction tasks.
  • PintyPlus: Famous for their spray paints, PintyPlus has carved out a niche, offering quick and convenient painting solutions for a range of surfaces and materials.

Global Powerhouses with Paint Operations:

  • AkzoNobel: As a global giant, AkzoNobel's prolific portfolio includes renowned brands such as Dulux, providing innovative and sustainable paint solutions on a worldwide scale.
  • PPG: Another international behemoth, PPG Industries’ paint and coatings division stands out for its comprehensive offerings, serving industries from aerospace to automotive to consumer markets.
  • Henkel: Although widely recognized for its adhesive products, Henkel also plays a significant role in the paint sector with its industrial coatings and chemical solutions.
  • Sherwin-Williams: With a significant global presence, Sherwin-Williams contributes a vast array of paint products, catering to the needs of various consumers and professional painters alike.
  • Axalta: With a focus on the performance and transportation sectors, Axalta delivers innovative and high-quality paint products aimed at enhancing functionality and aesthetics.
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  • Number of pages : ~ 40 pages
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  • Last update : 27/05/2023
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Summary and extracts

1 Market overview

1.1 Definition and presentation

Paint is a liquid and often colored substance that is applied to a surface to achieve a specific coloration. The market study below covers two types of segment in the Spanish paint market.

-Paint for the building industry

-Consumer and decorative paint

Worldwide, the paint market is benefiting from the very rapid development of the Asian region. Rising construction spending in emerging countries is driving the building paint segment, while rapid urbanization is stimulating demand for decorative paints.

In Spain, the paint manufacturing market is highly concentrated , with only 427 companies manufacturing paint, and sales and employment levels have risen in recent years. Spain is thus a competitive country in paint manufacturing, with trade surpluses since 2017. Lastly, the construction of new buildings over this period and the challenge of thermal rehabilitation of buildings should boost this market in the future.

1.2 A growing global market

The global paint and coatings market is growing worldwide. In ****, the market was valued at $***.* billion, and is expected to grow at a CAGR of *.*%, reaching $***.* billion in ****, a total increase of **.*% in * years.

Sales trends for the global paint market World, **** - ****, in billions of USD Source: ****

The market is ...

1.3 The national paint market

The paint production activity is implemented within the Spanish CNAE code "**** ", issued by theInstituto Nacional de Estadísticas - INE. This code covers activities linked to the production of paints, varnishes and similar coatings, as well as printing inks and fillers.

Analysis of this code enables us to estimate the paint ...

1.4 National market for paint service companies

As far as building painters are concerned, an analysis of the Spanish CNAE code **.* "Acabado de Edificios" gives an idea of how the sector is evolving.

CNAE code **.* "Finishes on buildings" includes the following activities:

Wood and metal framework installations Floor and wall covering Glazing and painting Other building finishing ...

1.5 Paint imports and exports

In order to analyze Spanish foreign trade in paints, we need to understand which types of paint are of interest to us. Here, two "HS" codes - from the United Nations trade classification - are of interest. The following two codes relate solely to paints for DIY and building cladding, the ...

2 Demand analysis

2.1 Demand by product type: white paints top the list

When it comes to the types of paint most in demand by households, white paint is the favorite among Spaniards. In the top ** best-selling paints according to the websiteMás Vendido, which lists the best-selling products on the Spanish market, only white paints are present.

2.2 The outlook for household DIY spending in an inflationary context.

With regard to household DIY spending, a survey carried out by PWC for the year **** in relation to Spanish consumption trends, taking into account the impact of inflation - of *.*% during the yeare **** in Spain - on consumption habits, reveals that DIY is likely to be a spending item on which ...

2.3 Demand in the construction market

The construction market is a demanding sector for painting services, particularly those provided by painting service companies. Indeed, painting is an integral part of the finishing of a building, which is why this sector is the driving force behind this service.

In ****, a total of **,*** building permits were issued in Spain, ...

3 Market structure

3.1 Value chain

Source: ****

3.2 Paint market structure

The Spanish CNAE code "****" - activities related to the production of paints, varnishes and similar coatings, as well as printing inks and fillers - tells us more about the structure of the paint production market in Spain. There is a slight downward trend in the number of companies between **** and **** , with ...

3.3 Painters' market structure

For the building painters market, we can estimate the market structure using the Spanish CNAE code **.*, although it includes categories other than building painters.

As a result, the number of companies in this sector is expected to grow steadily between **** and ****. Despite the anomaly represented by ****, the number of companies in ...

3.4 Paint distribution

Paint distribution is carried out either in dedicated stores for professionals, or in DIY stores for BtoC. In the BtoC sector, paint is distributed through hardware stores or DIY superstores. A survey carried out by Euro Press shows that Spaniards are very attached to these local stores. In ****, **% of Spaniards said ...

4 Offer analysis

4.1 Paint types

The five components of paint

Building and decorative paints are always made up of the same components:

The binder, a polymer that enables the paint to become solid as it dries, Solvent, to make the paint fluid enough to facilitate application, Pigments, natural or synthetic, give the paint its tint and ...

4.2 Average prices

The average prices charged by paint manufacturers are shown below by the VIP Reforma website. This chart shows the average price per square metre of the main paints used in home decoration.

Average price/m* of the main paints used in home renovation Spain, ****, €/m* Source: ****

4.3 Average prices charged by paint companies

The average price charged by painters throughout Spain is between €* and €** per square meter. These prices are calculated by the Cronoshare website, a platform that supports private individuals in their renovation projects. The platform currently boasts over ***,*** completed budgets and more than **,*** professionals offering quotes on the platform.

Paint prices by ...

4.4 New ranges and innovations

A need for perpetual innovation: Paint, especially decorative paint, like clothing or kitchenware for example, is subject to the fashions of the moment. Paint must therefore constantly renew itself and offer new ranges in order to become the paint of the moment for a given year. In the second half of ...

5 Regulations

5.1 Regulations

Spanish paint legislation is governed by Real Decreto ***/****, de * de febrero. This law lays down the conditions for marketing in terms of toxicity, packaging and the classification of paints according to their hazardous nature (***).

European legislation covers the following points in particular:

Environmental and health considerations

The Reach regulation was introduced ...

6 Positioning the players

6.1 Segmentation

Main Spanish distributors Group types Names Sales (***) Groupe ADEO(***)French international group. Leroy Merlin (***) * *** *** *** € (***) Bricomart (***) *** *** *** € (***) German multinational Bauhaus (***) *** *** *** € (***) Spanish player Bricor (***) *,***,***,*** € (***) Subsidiary of English multinational Kingfisher Brico dépôt *** *** *** € (***) Spanish player Habitacle (***) ***,***,*** € (***) Paint manufacturers Group types Names Sales figures Spanish producers Ibersa pinturas ** million euros (***) Pinturas colom Between * and * million ...

  • Leroy Merlin Espagne
  • Brico Dépôt
  • Akzo Nobel
  • PPG Industries
  • Henkel Ibérica
  • Sherwin Williams
  • Axalta Coating Systems
  • Jallut
  • Jotun
  • Pinturas colom
  • Ibersa pinturas
  • PintyPlus
  • galpi
  • Pinturas ecu

List of charts presented in this market study

  • Sales trends in the global paint market
  • CNAE 2030 sales trend
  • Consumer survey 2022: How do you plan to increase your DIY spending?
  • Percentage of Spaniards who plan to reduce their spending by expenditure item
  • Habitat rehabilitation targets by 2030 in Spain
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Latest news

Paints: AkzoNobel invests 20 million euros in France - 12/07/2022
  • AkzoNobel invests 20 million euros in two of its seven sites in France, at Pamiers (09) and Montataire (60)
Axalta commits to new sustainability goals - 27/04/2022
  • Achieving carbon neutrality by 2040
  • Assess internal and external ESG risks
  • 80% of Axalta's new product developments offer sustainability benefits
AkzoNobel Paints set for strong growth in 2021 - 09/02/2022
  • AkzoNobel sales up 6.9% in 2019 to €20.4 billion
  • Integration of US company PPG
  • redeployment of paint business to higher-growth markets
  • Net income 1.5 billion euros

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Leroy Merlin Espagne
Brico Dépôt
Akzo Nobel
PPG Industries
Henkel Ibérica
Sherwin Williams
Axalta Coating Systems
Jallut
Jotun
Pinturas colom
Ibersa pinturas
PintyPlus

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