Paint and coatings industry records losses worldwide in the first quarter of 2020

The COVID-19 crisis has affected the paint and coatings industry. The 10 largest paint and coatings manufacturers in the world have lost around 3.0% of their sales turnover on EUR basis in the first quarter of 2020. Sales of architectural coatings remained at the previous year’s level in the first quarter while sales of industrial coatings were just under 5% down on last year.
For the second quarter, a sharp sales drop of up to 30% is expected, particularly in the segment of industrial coatings, as production volumes in the key sectors of automotive and metal processing have fallen drastically. The companies with a high proportion of automotive series and industrial coatings in their production range show a more negative development.