Study: Paint, Coatings Demand to Hit 46M Metric Tons in 2015

News Item From: Products Finishing

Posted on: 3/29/2012

According to a study by The Freedonia Group Inc., global demand for paint and coatings is forecast to rise 5.4 percent per year to 45.6 million metric tons in 2015.

According to a study by The Freedonia Group Inc., global demand for paint and coatings is forecast to rise 5.4 percent per year to 45.6 million metric tons in 2015. Advances will be driven by a strong acceleration in world building construction spending, particularly residential construction, which is expected to rebound in North America and Western Europe. Healthy growth in global manufacturing activity also will fuel increased demand for coatings used in the production of motor vehicles and other durable goods, as well as industrial maintenance applications. Solvent-based paint and coatings will continue to see their share of the market decline in both developed and developing markets, as ongoing efforts to reduce the emission of volatile organic compounds (VOCs) are spurring the rise of alternative formulations.

The study by the Cleveland, Ohio, based industry market research firm also says that the Asia/Pacific region will remain the leading consumer of paint and coatings through 2015, and also will see the most rapid gains. Regional demand will be fueled by China and India, the two largest markets in Asia and two of the fastest-growing coatings markets in the world. Additionally, an improved outlook for coatings demand in Japan will bolster gains in the Asia/Pacific region. Above-average advances are also forecast for North America, rebounding strongly from the declining demand of the 2005-2010 period. Coatings demand in the region will benefit from a greatly improved outlook for building construction and manufacturing activity in the U.S. While paint and coatings demand in Western Europe will see a similar recovery from recent declines, the region will be the world’s slowest-growing regional market.

Architectural markets will continue to account for a majority of paint and coatings demand in 2015. Demand for architectural paint will be fueled by healthy growth in residential construction spending, particularly in the U.S., Western Europe and Japan. Coatings demand in manufacturing applications will benefit from a pickup in world motor vehicle production, as well as an improvement in building construction activity, which will drive demand for furniture coatings. Maintenance and specialty coatings markets will see moderately slower gains, restrained by a downturn in marine applications, as well as a more negative outlook for vehicle refinish coatings in the developed countries of the world.

                                                                    

WORLD PAINT & COATINGS DEMAND

(thousand metric tons)

 

% Annual Growth

Item     

2005

2010

2015

    2005-

2010

    2010-

2015

 

 

 

 

 

 

Paint & Coatings Demand

29480

35060

45550

3.5

5.4

North America

7915

6810

8950

-3.0

5.6

Western Europe

6115

5570

6235

-1.8

2.3

Asia/Pacific

9300

15230

21250

10.4

6.9

Other

6150

7450

9115

3.9

4.1

 

 

 

 

 

 

© 2012 by The Freedonia Group, Inc.

To purchase a copy of the World Paint & Coatings study or for more information, contact The Freedonia Group at 440-684-9600 or pr@freedoniagroup.com, or visit freedoniagroup.com.
 



Suppliers | Products | Experts | News | Articles | Calendar | Process Zones

The Voice of the Finishing Industry Since 1936 Copyright © Gardner Business Media, Inc. 2014

Subscribe | Advertise | Contact Us | All Rights Reserved