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Kusumgar, Nerlfi & Growney is pleased to announce the commencement of its third Global Paint & Coatings study. According to the firm, global consumption of coatings in 2016 is a projected 88bn lbs (40Mt) worth some US$130bn. Growth has slowed in recent years following the modest bounce back from the recession year of 2009. The Asia Pacific region continues to lead the way in growth. However, growth in Asia Pacific has also slowed owing to global and local economic uncertainties. The recent decline in raw material prices has contributed to downward pressure on coating prices.
The Asia Pacific Region remains the largest consumer of coatings with an estimated 47% of the volume in 2016. China accounts for more than one-half of the region’s consumption with growth moderating the last 2-3 years following the rocket rise in prior years. India is now about 15% of the regional volume and continues to increase its share.
Europe is the second largest market for coatings taking a projected 23% of the global volume in 2016. Growth remains low in most EU countries with the decline in the Russian economy a drag on consumption. The prospect of waning growth in Turkey is a headwind for the near future. North America was an outlet for 17% of the global coating volume in 2016 and has mature growth prospects. The South and Central America region represents 7% of the global demand in 2016. Growth in the region has slowed significantly with the recession in Brazil the leading cause.
The above information is based upon Kusumgar, Nerlfi & Growney’s upcoming multiclient study, Global Paint & Coatings, 2016-2021, which is available through subscription. Interested parties are invited to e-mail at [email protected] Further information can be obtained at www.kusumgar-nerlfi-growney.com