In 2023, the European paint market is estimated at around 4.5 billion litres and EUR 21.1 billion. Germany remains the largest decorative paint market in Europe but has weakened due to a sharper decline in the local construction market compared to other countries. The five largest markets – Germany, France, Italy, the UK, and Spain – still account for more than 50% of the European decorative coatings market. New builds are not the only factor affecting the decorative paint market. Assuming further interest rate cuts, average annual volume growth of around 0.8% is projected for the European decorative paint market through 2029.