Market share for the global paint and coatings industry is going through a phase of acquisitions, shifting from large U.S. and Europe-based manufacturers to those based in Japan, Korea, China and India and other Asian countries. Although North America remains the leading region in the global coating industry, Asia and Eastern Europe markets are showing growth potential for industrial coatings.
China is the largest consumer of coating additives in Asia, accounting for about one-third of the market. India’s market is dominated by the decorative paint and coatings segment.
Those are among the key conclusions contained in a new market research report by Koncept Analytics, an India-based research firm.
Growth in the marine coatings market can be attributed to a surge in new building in the Asia-Pacific region, as well as high demand for exported goods from the region, the report said. The automotive coatings market is growing on the back of increasing new car sales in Europe and growth in car manufacturing in China.
One of the major challenges facing the industrial coatings industry is the unprecedented escalation in the price of oil, natural gas and raw materials, which is having a significant impact on the marine coating industry.
The report analyzes worldwide coatings market with an overview of the major markets (North America and Asia-Pacific) and market segments (architectural, industrial and special purpose coatings).
It also focuses on major factors driving growth and key issues affecting the market, including environmental considerations, changes in the automotive industry, and rising energy prices.
It discusses the current industry trends, including paint makers’ investment in China and sustainable powder coating technology. The report also profiles the major competitors in the market (Akzo Nobel, Sherwin-Williams and PPG Industries) and the outlook for various segments of the paint and coating industry.
For more information, visit www.konceptanalytics.com.