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Asia to Anchor Global Coatings Surge

Friday, February 21, 2014

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Riding a 50 percent increase in coatings consumption in the last five years, the Asia-Pacific region will remain the main engine for that growing global market in the next five, a new report forecasts.

Global coatings consumption reached 80 billion pounds and $120 billion in value in 2013, according to "Global Paint & Coatings, 2013-2018," by polymer and chemical market researchers Kusumgar, Nerlfi & Growney.

Asia-Pacific accounted for a whopping 45 percent of that volume and 40 percent of that value in 2013, the report said.

coatings market report
©iStock / BanksPhotos

A new report predicts an average growth rate of 5 percent for the coatings market through 2018.

Continuing demand in that region is expected to drive an overall 5 percent annual growth rate worldwide through 2018.

Asia-Pacific Boom

The Asia-Pacific region is the world's leading coating consumer; coatings consumption there climbed by 50 percent between 2008 and 2013.

The region has seen particularly strong growth in China, which now accounts for 58 percent of the region's volume; and in India, which accounts for 13 percent, according to the report. 

Asia-Pacific will see larger-than-average growth of 8 percent per year through 2018, accounting for 51 percent of the world's coating volume and 46 percent of the value in that year.

Europe, Americas Maturing

The second-largest regional coatings market for coatings consumption is Europe, with 24 percent of the volume and 28 percent of the value, according to the report. The mature area of that region is looking at a 2 percent annual growth rate; but Russia, Turkey and other Eastern European countries will expand faster, the report said.

In 2013, North America saw 17 percent of the global poundage and 21 percent of the value. Growth here is also mature, and a 1 percent annual rate is forecast through 2018. 

global coatings consumption
Kusumgar, Nerlfi & Growney

The Asia-Pacific region was the largest coating consumer in 2013 and is poised to see larger-than-average growth over the next few years, the report suggested.

In South and Central America, coating consumption accounted for 8 percent of the volume and 6 percent of the value, according to the report. The region is expected to see 5 percent annual growth over the next five years. Brazil, which accounted for two-thirds of the region's volume in 2013, will continue to drive consumption with an expected growth rate of 6 percent per year.

Water vs. Solvent

Regulations and consumer demands continue to accelerate the growth of cleaner coating technologies, such as water-based, powder and radcure, according to the report. 

Water-based technology accounted for 52 percent of 2013's volume and 40 percent of the value. Solvent-based coatings were 41 percent of the global volume and 48 percent of the value.

About 85 percent of the water-based pounds were architectural paints. Industrial applications accounted for 68 percent of solvent-based pounds and 80 percent of the value. 

coatings forecast
©iStock / shime02

Water-based coatings slightly outpaced solvent-based in volume for 2013, but solvent-based coatings saw higher sales, according to the report.

In industrial applications, powder, radcure and other 100 percent solids liquid coatings made up a combined 7 percent of volume and 12 percent of value in 2013, according to the report. 

Top Suppliers

The top 25 coatings suppliers captured a combined 54 percent of the sales; the top 100 suppliers made up two-thirds of sales.

The top 100 architectural paint suppliers held 75 percent of the sales, while the top 100 industrial paint suppliers held 65 percent. 

Fourteen companies had 2013 coating sales top $1 billion; two had sales over $10 billion, the report said. 

   

Tagged categories: Architectural coatings; Market forecasts; Solventborne coatings; Water-borne

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