In 2023, the downturn in the market for paints and coatings in Austria continued unabated. Many people still lacked the motivation to renovate their homes, according to current data from a market study by the Austrian market research institute BRANCHENRADAR.com. At the same time, paints and coatings manufacturers' revenues fell moderately last year for the third year in a row by around one percent year-on-year to just under 201-million Euro, although sales prices rose by an average of 3.6 percent.
The market continued to suffer from early purchases during the pandemic and changes in consumer behaviour after the pandemic. Consumers continued to visit more restaurants or cultural events, travel at home and abroad, or engage in sporting activities. As a result, there was a lack of time – and motivation – for renovation work in homes and homes in many places. As a result of inflation, outsourcing activities to commercial providers was not an alternative for many. Prices for painting work have risen by a total of 18 percent in the last three years.
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At the same time, the usage of wood preservatives and glazes continued to fall dramatically. Compared to 2022, sales fell by 8.9 percent to 31.7 million Euro. In the case of architectural coatings, the decline in sales was just under two percent compared to the previous year. Revenues fell to 23.0-million Euro. With only the market for wall paints developing slightly positively. In a year-on-year comparison, revenue increased by almost one percent, to a total of 146.1 million Euro. However, the price of wall paints also rose faster than in the other two product groups, specifically by an average of 5.2 percent compared to the previous year.
More information:
BRANCHENRADAR.com
www.branchenradar.com