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Wednesday, 18 September 2019
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Markets & companies, Coatings market

The global coatings market to reach USD 107 billion by the year 2017

Thursday, 15 March 2012

Architectural coatings dominate the global coatings market, accounting for the single largest share in value terms.

Asia-Pacific represents the largest regional market for coatings worldwide, as stated by the new research report on coatings by Global Industry Analysts, Inc. Source: Nerlich Images – Fotolia.com
Asia-Pacific represents the largest regional market for coatings worldwide, as stated by the new research report on coatings by Global Industry Ana...

The global coatings market is expected to reach 8.7 billion gallons (239.65 US gallons = 1 ton) and USD 107 billion by the year 2017, according to the new report "Coatings: A Global Strategic Business Report” by Global Industry Analysts, Inc. (GIA). The global paints and coatings production is witnessing a major shift away from the developed regions, such as Europe and the US, to the developing economies, such as Asia, comprising Korea, India, and China. Sustained demand from the developed countries, in addition to the burgeoning demand from the developing countries, is contributing to the overall expansion of the coatings market worldwide. However, industrial growth in developing economies is a major growth driver for the coatings industry. Asia-Pacific represents the largest regional market for coatings worldwide, as stated by the new research report on coatings. Major markets driving growth in the Asia-Pacific coatings market include China, India, and Indonesia. Europe represents the second largest regional market for coatings worldwide, followed by the US in the third position. The Asia-Pacific market also represents the fastest growing regional market worldwide, trailing at a compounded annual growth rate of 5.1 % during the analysis period. Product wise, architectural coatings dominate the global coatings market, accounting for the single largest share in value terms. However, growth in the market would be spearheaded by special purpose coatings, which is projected to record a CAGR of 5.3 % over the analysis period.

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