KONSTANZ, Germany – According to a new study published by Ceresana Research, the European paint and varnish market is expected to generate €27.7 billion by 2018. Germany is the largest market in Europe, with a 15-percent share, followed by Italy and Russia.

The transport industry is of special significance. Although this sector accounts for less than eight percent of the entire paint and varnish market, its share in terms of value totals almost 15 percent. Demand for industrial varnishes, the second-largest field of application behind the construction industry, is especially increasing in Russia, Poland and Turkey.

Paint and varnishes for wood applications represented the third-largest market in 2010. Italy accounts for almost one-quarter of European demand for wood paints.

The construction industry’s influence on the paint and varnish market continues to decline. While the construction industry accounted for approximately 59 percent of European demand in 2002, its share is anticipated to drop to 56 percent by 2018. However, this trend is weakened by rising sales of dispersion paints in Eastern Europe.

Visit www.ceresana.com for additional information.