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Thursday, 04 June 2020
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Markets & companies, Coatings market

Global coatings demand to grow at 5 % annually until 2018

Wednesday, 19 February 2014

The Asia-Pacific region is the leading coating consumer; growth is projected at 8 % per year, according to market researchers of Kusumgar, Nerlfi & Growney.

Global coating consumption by region in 2013; Total: 80 billion pounds. Source: Kusumgar, Nerlfi & Growney

Global coating consumption by region in 2013; Total: 80 billion pounds. Source: Kusumgar, Nerlfi & Growney

According to the just completed study "Global Paint & Coatings, 2013-2018” by the consulting firm Kusumgar, Nerlfi & Growney, the global consumption of coatings was 80 billion pounds in 2013 valued at USD 120 billion. The industry has recovered from the 2008-2009 global recession and a 5 % average annual rate of growth is forecast through 2018. This modest rate of advance is being propelled largely by the strong growth in the emerging economies of the Asia-Pacific region. Consumption in Asia-Pacific, particularly China and India, has surged and is up by about 50 % in pounds from 2008.

Asia-Pacific ranks first, followed by Europe and North America

The Asia-Pacific region is the leading coating consumer with 45 % of the volume and 40 % of the value in 2013. Growth is placed at 8 % per year and its share is projected to rise to 51 % of the pounds and 46 % of the dollars in 2018. China is 58 % of the region’s volume and India 13 %. Europe is the second largest coating outlet taking 24 % of the volume and 28 % of the value in 2013. A mature 2 % annual rate is forecast with growth in Russia, Turkey and other Eastern European countries expanding faster. North America took 17 % of the global poundage and 21 % of the dollars. Like Europe growth is mature and a 1 % annual rate is forecast through 2018. South and Central American coating usage in 2013 represented 8 % of the total coating poundage and 6 % of global value. Here growth is expected to be 5 % per annum over the next five years. Coating usage in this region is being driven principally by an annual 6 % increase in Brazil which accounted for two-thirds of the region's volume in 2013.

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