CHEM Research Reports Increase in Coatings Production in Europe
MAINZ, Germany — Market research and consulting firm CHEM Research GmbH released results from its most recent analysis of coatings production in Europe. According to the firm, paint and coatings production in Europe during October 2020 was 1.2% above the previous year’s level. The firm reports that production volume for paints and coatings in Europe continues to increase, but growth is losing momentum. In October 2020, data indicated a production rise of +1.0% over the previous month and a level that is +1.2% higher than in October 2019. Output in Germany for this product group is recovering more slowly than other European countries.
In the EU economic area excluding Germany, the index rose by 0.6 % from the previous month. This represents an increase of +3% in a year-over-year comparison. However, cumulated data from January to October 2020 show a production level drop of -5.7% due to the dramatic slump between March and May.