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According to an upcoming study by the consulting firm Kusumgar, Nerlfi & Growney, global consumption of coatings in 2012 is projected to come in at £67bn (US$120bn). Volume has bounced back from the recession year of 2009 with the Asia Pacific region leading the way. However, growth in 2012 slowed owing to global and local economic uncertainties. Coating volume in 2012 is up 15% since the 2009 global recession but coating value is up by about one-third largely because of the escalation in raw material prices.
The Asia Pacific region is the largest consumer of coatings taking 42% of the volume in 2012, with Europe second taking 27%. North America was an outlet for one-fifth of the global coating volume and has mature growth prospects. The South and Central America region was 8% of the global demand in 2012. Although growth in the region slowed in 2012, it is forecast to grow modestly in the future.