Performance coatings can be classified on the basis of product type: alkyd, acrylic, enamel, epoxy and primer.
Asia Pacific is the largest market for performance coatings. Fast-paced urbanisation in China and Brazil are strong drivers for the market in these countries. Brazil leads the South American market as it is gearing up to host the Olympic Games in 2016. Brazil holds more than half of the total South American paint and coatings market and will witness growth due to developments in the marine, protective coatings, oil and gas, automotive refinishes and plastic coating sectors. Coatings consumption in China was valued between 4.5 and 5M tons in 2013. In India, performance coatings hold more than a quarter of the paint and coatings market share. The Russian coatings market is expected to slow down in 2014 and witness moderate growth in 2015 and onwards. The performance coatings market is flourishing in BRIC countrie.
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