Industrial coatings market to grow by 2020
March 8, 2012
Solventborne coatings are still the most common technology, although they are losing share and are expected to lose share to other coatings types in many markets.
Source: sxc/Simon Cataudo
According to a new study by PRA, entitled "Global Industrial Coatings Markets 2010–2020”, the global industrial coatings market was estimated to be worth over EUR 40 billion in 2009. The most important region of industrial coatings demand is the Asia Pacific, which accounted for around 48.5 % of global coatings consumption. The region is also expected to be the main driver of future coatings demand to 2020, with a CAGR of between 8 % and 9.5 % expected for the period 2010 to 2015. Within this region, China and India are expected to be the largest contributors to future coatings demand. Solventborne coatings are still the most common technology, although they are losing share and are expected to lose share to other coatings types in many markets. Waterborne is expected to be the fastest-growing coatings technology. Construction and infrastructure
markets accounted for over 37 % of the world market for industrial coatings in volume terms. These two segments combined for approximately EUR 13.3 billion, representing around 32 % of global market value.