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. 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.
Source: The Freedonia Group, Inc.
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.