New global paint and coatings study launched
Kusumgar, Nerlfi & Growney has published its third global paint & coatings study. According to the firm, global consumption of coatings was 90.4 billion pounds valued at US-$121 billion (EUR103 billion) in 2016 and a 4% annual rate of growth is forecast through 2021.
Volume is up 54% from the low of the 2009 global recession and 44% from the pre-recession level.
Leading coating consumer Asia-Pacific
The Asia-Pacific region is the leading coating consumer with 47% of the volume and 45% of the value in 2016 and growth there is placed at 6% per year. The emerging economies of the region have been the engine of growth for the industry. The rocket growth of the recent past is now slowing as increases in China, 59% of the volume, have fallen to a more modest mid-single digit rate. India is now among the leaders in growth in the region at just over 10% per year.
Move to water-based technologies
The global coating industry continues its move to water-based and other more environmentally friendly technologies, particularly in emerging economies. Many developed economies now employ a significant percentage of these technologies. Figure 1 shows recent year consumption of coatings by technology. Water-based technology has increased its share from one-half of the volume in 2008 to 55% in 2016 and it is projected to garner a 57% share in 2021.
Further information about the study “Global Paint & Coatings, 2016-2021” can be obtained at www.kusumgar-nerlfi-growney.com.
