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By Barbara Bierach
Continuing supply chain problems, worsened by COVID-19 and price hikes for raw materials have depressed the outlook for sales faced by the German paint business in 2021. Germany’s Verband der deutschen Lack- und Druckfarbenindustrie (VdL), the industry association for coatings, paints and ink production, predicts that overall sales will have fallen 4% in 2021 compared to 2020, partly because 2020’s DIY boom, fuelled by pandemic lockdown orders, has run out of steam. The second half of 2020 saw a significant rise in demand for architectural colour paints and coatings. Sales volumes grew 6.7% in the third quarter and 14.1% in the fourth yr-on-yr, leading to an overall 3% annual increase in sales volumes compared to 2019. By contrast, with those DIY projects completed, in 2021 demand did not keep up with “turnover in hardware stores and in general retail diminishing notably”, said Christoph Maier, VdL Chief Economist. “Continuous distortions in the supply chain, problems with logistics and price hikes for raw materials add to the stress,” Maier added.
Read the full report here: Germany 2022
