The paint market - Spain

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.

Inforamtion

• Number of pages : ~ 40 pages
• Format : Digital and PDF versions
• Last update : 27/05/2023

Summary and extracts

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
• New buildings in Spain
• Number of building rehabilitation permits issued in Spain
• Number of companies CNAE code 2030
• Change in number of employees
• Change in EBITDA CNAE code 2030
• Number of companies CNAE code: 43.3
• Change in number of employees, cnae code 43.3
• Spaniards' opinion of the importance of having a DIY store
• DIY retailer market share
• Breakdown of Leroy Merlin sales in Spain
• Average price/m2 of the main paints used in home renovation
• Average painting prices by property size
• Painting prices by m2
• Sales growth CNAE code: 43.3
• Spanish HS foreign trade: 3208
• Spanish trade balance: Code HS 3209
• Origins of Spanish imports
• Spanish export destinations
• Origins of Spanish imports code: 3209
• Spanish export destinations code: 3209