Significant contraction of the global paints and coatings market in 2020
The market research company CHEM Research has issued an executive report on the development of the global coatings market in 2020 with a projection for 2021. In this context, the results of the TOP 11 global producers, which hold a share of about 50 % of this market, are analysed and presented in a compact report of less than 20 slides.
In 2020 the global market for paints and coatings recorded a decline of nearly – 6 % in EUR value, while the collective sales of the TOP 11 companies show a slightly stronger decrease. To some extent the stabilising effect of the sustained demand for decorative paints compensated for the dramatic volume losses in the industrial coating segment.
Industrial coatings market experienced a steady contraction
The divergent growth of the decorative paint and industrial coating demand led to a shift in market shares and portfolio compositions. In terms of sales, the decorative paints expanded their share by about + 3 % in 2020 compared to 2019 at the expense of industrial coatings. This development shows a continuing trend over the past 3 years during which the industrial coatings market experienced a steady contraction.
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