Europe’s top 10 companies with the biggest changes in turnover
The year 2023 brought significant changes to the European paint and coatings industry, as shown by the current data of the Top 25 companies. An analysis of the revenues from 2018 to 2023 highlights the percentage changes among the leading companies.
The Successful Companies:
Hempel recorded an impressive increase of +74.69%. Revenue rose from EUR 1,346 million in 2018 to EUR 2,351 million in 2023. CIN (Corporacao Industrial do Norte) saw its revenue grow by +70.26%. From EUR 232 million in 2018, the revenue grew to EUR 395.1 million in 2023. Jotun experienced a rise of +51.68%. Revenue increased from EUR 1,839 million in 2018 to EUR 2,789 million in 2023. Mipa achieved a notable growth of +47.73%. Revenue rose from EUR 176 million in 2018 to EUR 260 million in 2023. Meffert AG Farbwerke saw an increase of +44.93%. Revenue climbed from EUR 227 million in 2018 to EUR 329 million in 2023. Flügger Group recorded an increase of +40.33%. Revenue grew from EUR 243 million in 2018 to EUR 341 million in 2023. Mankiewicz achieved a growth of +35.41%. Revenue rose from EUR 353 million in 2018 to EUR 478 million in 2023. Dold Gruppe experienced a rise of +31.39%. Revenue increased from EUR 137 million in 2018 to EUR 180 million in 2023.
The Challenged Companies
Teknos experienced a decline of -12.99%, with revenue falling from EUR 408 million in 2018 to EUR 355 million in 2023. Deutsche Amphibolin-Werke (DAW) faced a decrease of -4.77%. Revenue dropped from EUR 1,300 million in 2018 to EUR 1,238 million in 2023.
| Company | Revenue 2018 (Mio. EUR) | Revenue 2023 (Mio. EUR) | Percentage Change |
|---|---|---|---|
| Hempel | 1346 | 2351 | +74.69% |
| CIN | 232 | 395.1 | +70.26% |
| Jotun | 1839 | 2789 | +51.68% |
| Mipa | 176 | 260 | +47.73% |
| Meffert AG Farbwerke | 227 | 329 | +44.93% |
| Flügger Group | 243 | 341 | +40.33% |
| Mankiewicz | 353 | 478 | +35.41% |
| Dold Gruppe | 137 | 180 | +31.39% |
| Teknos | 408 | 355 | -12.99% |
| DAW | 1300 | 1238 | -4.77% |
Outlook
The European paint and coatings industry demonstrated resilience and adaptability in 2023, with many companies successfully growing and addressing new challenges. While market volatility and structural adjustments continue to play a role, the trend towards innovation and sustainability is evident. More companies within the top 25 overall have generated positive revenue growth, indicating a robust sector performance. Overall, 18 companies within the Top 25 experienced positive revenue growth, while only 2 companies saw a decline in revenue. (Since only 20 companies were among the Top 25 in both 2019 and 2024, only these 20 revenues could be compared.)
The coming years will be crucial to observe how the dynamics within the top 25 evolve and which companies can further expand their market presence. The industry remains dynamic and will be shaped by technological innovations and regulatory developments, bringing new opportunities and challenges.
