Market Trends of France Protective Coatings Industry
The Infrastructure Segment to Dominate the Market
- Protective coatings applied to steel, which is commonly used for civil structures such as stadiums, transportation hubs, and public buildings, are the backbone of modern cities. Corrosion protection of steel bridges is essential to maintain both structural performance and aesthetics over time, with protective coatings being the most common form of corrosion protection.
- France has the second-largest construction industry in the European region. The construction index in the country has been witnessing slow growth, with a gradual increase in the industry turnover index over the past few years. According to Eurostat, in 2022, the construction revenue in the country is registered at USD 488.5 billion, which is expected to reach USD 537 billion by 2024.
- The infrastructural construction activities have been increasing in the country in recent years. For instance, in Q1, 2022, the Nantes New CHU Hospital Development project started with an investment of USD 1,424 million. This project involves the construction of a new hospital complex with medical facilities on 10.1 hectares of land in Nantes, Pays de la Loire region, France. The construction work is expected to be completed in Q4 2027.
- Similarly, in Q1, 2022, the Paris Tour Triangle High-Rise Building project started with an investment of USD 755 million. The project involves the construction of a 42-story triangular office building on an 80,000 sq. meter area at Porte de Versailles, Paris, France. The project is expected to be completed by Q1, 2026.
- Furthurmore, the French government's initiatives to develop the city for hosting the 2024 Olympics are likely to drive the market. For instance, the French government sanctioned approximately USD 3.3 billion for the construction of the Hermitage towers (two 320-meter-1050-foot towers), which are due to be completed by 2024. The essential infrastructure for the Olympic event requires building 4,500 new dwellings for local people, 100,000 square meters for business activities, and 20,000 new hotel rooms for tourists. The increasing infrastructural activities are excepted to drive the demand for protective coatings in the country.
- Thus, the infrastructure end-user segment will likely dominate the market during the forecast period.
Understand The Key Trends Shaping This Market
Download PDF
The Power Generation Industry to Register Significant Growth rate
- Protective coatings are also extensively used in the power sector for mainly corrosion and heat resistance. Power generation can take any form, from wind, hydroelectric, and nuclear to fossil fuel facilities, each of which presents its challenges for protective coatings systems.
- In fossil fuel power systems like coal and natural gas, Protective coatings are extensively used for plant assets, including feed systems to the turbine, recovery, and water handling systems. Similarly, in hydroelectric power plants, corrosion protection coatings are used for critical parts, including conduits, penstocks, and metal water gates.
- Protective coatings are also extensively used in the wind sector, where they are used to protect and extend the operational life of onshore and offshore wind turbine installations, including towers and foundations, turbine component blades, and other equipment.
- France is the largest producer of zero-emission power in Europe. The country is increasing the wind electricity generation capacity with the installation of new onshore wind turbines. In 2022 the wind electricity capacity in France is registered at 21.1 GW (gigawatts). Furthurmore, According to the National Climate and Energy Plan, the country aims to install up to 35 GW (gigawatts) of onshore wind by 2028.
- In March 2022, the French Prime Minister announced the launch of two floating wind farm projects on the Mediterranean coast of metropolitan France. These two floating wind farms have a capacity of approximately 500 MW. These projects are expected to be completed by 2030. Thus, the increasing onshore wind turbine installation is expected to drive the demand for protective coatings in the country.
- Thus, the power end-user segment will likely register significant market growth during the forecast period.
