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Global demand for paint and coatings is forecast to rise 5.2%/yr to 51.6Mt in 2017, valued at US$186bn. According to analyst Kent Furst, "Advances will be driven by a strong rebound in global building construction, particularly in North America, Europe and Japan, which will fuel increased demand for architectural paint.”
Manufacturing and speciality coatings demand will also grow at a more rapid pace compared to recent historical trends, benefiting from an improved outlook for automotive production and overall industrial output. However, gains will be limited by the increased use of higher quality coatings in both the developed and developing world, reducing the volumes necessary to complete a given paint job. These and other trends are presented in ‘World Paint & Coatings’, a study from The Freedonia Group, Inc.
The Asia Pacific region will continue to be the largest and fastest growing coatings market through 2017, rising to account for half of global demand. Gains will be led by robust growth in China, although advances will slow somewhat from the double-digit annual pace of the 2002-2012 period.
Even faster growth is forecast for the large Indian market, while other countries in Asia such as Indonesia, Thailand and Vietnam will see strong gains.
