Press Release - January 2026

• After growing 0.9% in 2024, provisional data for year-end 2025 point to a slight decline in the value of paints and varnishes sales in the Spanish market, of around 0.6%, standing at about €1.815 billion.

• The trend of a gradual increase in sector concentration continues. The top five companies account for 35% of market value, rising to 48% when considering the top ten.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Paints and Varnishes' Sectoral Report.

Madrid, 15 January 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory—a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal—the Spanish paints and varnishes market posted a slight increase in 2024, albeit below that recorded in the previous year, reaching €1.826 billion (+0.9%).

The industrial paints segment slowed, with growth of 0.8% in 2024 to €1.091 billion (+1.5% in 2023), driven by weak demand in some of the main client sectors. Meanwhile, the value of decorative paints sales reached €735 million, with growth of 1.0%.

Forecasts for 2025 as a whole point to a slight downward trend in market value, amid unfavourable demand trends in some of the main industrial client sectors, such as the car industry or the wood sector, despite moderate growth in sales of paints for construction and decoration. Thus, at year-end 2025 the market value is estimated to stand at €1.815 billion, down 0.6%.

The value of exports rose 7.3% in 2024 to reach €897 million, while imports increased 2.4%, standing at €679 million. The European Union accounted for 62.8% of Spanish exports. Portugal and France stood out, absorbing 14.6% and 12.7% of total exports, respectively. France, with 23.5% of total imports, Italy (20.8%) and Germany (20.7%) were the main countries of origin for imports.

The number of companies engaged in the manufacture of paints, varnishes and similar coatings, printing inks and mastics stood at 359 in January 2024, considering companies with employees, slightly below the figure recorded in the previous year.

Despite the fragmentation of the supply structure, the sector is seeing a growing concentration of activity around the main operators. Thus, the combined market share of the top five stood at 35% in 2024, rising to 48% when considering the top ten. The industrial paints segment shows a higher degree of concentration, with the top five jointly accounting for 50% of sales value, compared with the combined 37% share held by the top five in the paints segment for construction, professional decoration and DIY.

Data Synthesis

(a) data as at 1 January 2024. Refers to manufacturers of paints, varnishes and similar coatings, printing inks and mastics. Companies with employees. (b) 2024. (c) construction, professional decoration and DIY.