Wiki / Global demand for paint and coatings to increase

Tuesday, 14 February 2012

Global demand for paint and coatings is forecast to rise 5.4 % per year to 45.6 million metric tons in 2015.

Global demand for paint and coatings is forecast to rise 5.4 % 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, according to "World Paint & Coatings”, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Healthy growth in global manufacturing activity will also 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.

The Asia/Pacific region will remain the leading consumer of paint and coatings through 2015, and will also see the most rapid gains. Above-average advances are also forecast for North America, rebounding strongly from the declining demand of the 2005-2010 period. 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.

---