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Compiled by Xilin Li, Douglas Bohn and Osamu Kirihara of Orr & Boss Consulting Incorporated
The Asia Pacific coatings market is the largest coatings market of any region in the world. In 2019, Orr & Boss estimates that the Asia Pacific coatings market comprised US$70.4bn and 22.4bn litres. As such, it accounts for 54% of the volume and 45% of the value of the global coatings market. Asia Pacific is still the fastest growing paint and coatings markets globally, although its growth rate was lower this year than in years past. In 2019, Orr & Boss estimates that the market grew at a 2.4% volume rate and 3.3% value rate. This compares to 2018, where volume grew at 3.4% and value at 6.6%. The reason for the slower growth rate of the coatings industry was that the economies in the region grew at a slower rate, partially due to the slowing global economy and the trade and tariff issues between the USA and China.
Read the full report here: Top 25 Paint Manufacturers in Asia Pacific 2020