3rd Paints and coatings market report
Market research company Ceresana analysed the global paints and coatings market for the third time. About 42 million tonnes were sold in 2017.
They are more than their appearance: Paints and coatings are more and more often equipped with anti-bacterial properties when they are used in hospitals and doctor’s surgeries; they help to inhibit the spread of dangerous germs. Facade coatings can also be more than just colorful: Some of them use the lotus effect and clean themselves. Other coatings protect materials, for example, against rust or provide thermal insulation.
Construction industry as major consumer of paints and coatings
Almost 50% of all paints and coatings consumed in 2017 were utilised in the construction industry. This downstream market is mainly supported by the rising demand for living space in densely populated countries but also by major projects in infrastructure and commercial construction. In addition to traditional interior and house paints, the construction sector is increasingly processing innovative products that have various uses. In the case of paints and coatings for industrial products, such as vehicles, sales are strongly dependent on macroeconomic developments. The market researchers expect demand for paints and coatings in this segment to continue to increase in the upcoming eight years. The region Asia-Pacific holds the leading position on the world market. Already today, more than 50% of revenues are generated in this region and the paints and coatings market size is likely to continue to grow. The second largest consumer of paints and coatings in 2017 was North America.
Acrylic paints are the largest submarket
The current paints and coatings market report also analyses demand for individual product types: ranging from paints and coatings based on acrylics, vinyls, alkyd, epoxy, and polyurethane up to polyester and paints and coatings based on other products. Not included in this study are coating materials such as mortar, gypsum, thinner, printing inks, textile dyes, and food colorants. Acrylic paints were by far the most used type in 2017. Vinyl paints followed. Demand for acrylic paints was highest in Asia-Pacific and North America, followed by Western Europe and South America. Due to their properties, coatings based on acrylic resins are very often used in the construction industry: As wall or facade paints, acrylic resins are highly resistant to light and weather and remain breathable. In combination with water-repellent silicone resins, they are used for exterior facades. Further applications include wood, plastic or metal coatings.
Environmentally friendly water-based paints market gains momentum
Water-based and solvent-based paints and coatings dominate the market. Powder coatings only account for a small share of the paints and coatings market. Water-based coatings are used for wood, plastics, leather, and textile coatings. Moreover, environmentally friendly water coatings are frequently used as machine and automotive paints. The lower VOC levels of water-based coating systems and, in some applications, the possibility to be recycled are a great advantage. These and other advantages will help water-based paints and coatings to account for the highest average growth rate of the upcoming eight years.
The complete study is available via Ceresana’s website.
