Information Research (IRL) has published the fourth edition of A Profile of the Western European Paint Industry, providing a measure of the coatings markets in 2009.
According to IRL, the industrial coatings markets have been hit by the downturn in construction and a weakening demand for consumer and exported goods. Future demand will be impacted by the decline of the automotive sector, reduced consumer expenditure on finished goods, and a drop in the construction sector.
Protective coatings demand will be determined by state spending, which is tight in many countries, according to the report. However, one of the best opportunities for growth in protective coatings will be in wind energy. In the UK, civil projects leading up to the 2012 Olympics will likely create strong demand for protective coatings, IRL says.
The marine paint demand is static because it is related to investment and leisure expenditure.
According to the report, no appreciable growth is expected until 2011. IRL has forecast that paint demand will rise from 6.05 million tonnes in 2009 to about 6.28 million tonnes in 2014.
For more information on the report, visit www.informationresearch.co.uk.