Building demand drives paint growth

Because of the great demand of the construction industry, the global market of paint and coatings is still increasing. In 2014, global paint and coatings increased by 3.9%, and sales reached 43 million 380 thousand tons, with total sales of 85 billion pounds, or about 132 billion 300 million U. S. dollars. Sales in 2014, architectural coatings sales of 21 million 690 thousand tons, the industry accounted for 50% of total sales, annual sales of $63 billion 504 million, accounting for 48% of total sales volume of 12 million 580 thousand and 200 tons; industrial coatings industry, accounting for 29% of total sales, annual sales of $33 billion 75 million, accounting for 25% of total sales. In 2014, a total of 14 companies sold more than $1 billion in paint, and three companies sold more than $10 billion.
The main reason why the paint and coatings market is maturing and growing rapidly is that the paint and coatings industry has recovered from the global recession of 2008-2009 years, with an average annual increase of 5%, until 2018. This modest growth rate has contributed greatly to the strong growth of emerging economies in the Asia Pacific region. Consumption in China and India, particularly in the Asia Pacific region, has continued to soar since 2008, up to about 50%.
The paint and coating industry can be divided into three markets: construction \/ decoration, industrial OEM and special coatings. Building coating is the largest part, followed by industrial coatings and special coatings, while industrial coatings are mainly promoted by industrial production and the increase of automobile OEM.
Geographically, the Asia Pacific region remains the largest consumer of paint and paint, followed by Europe, North America and Latin america. In 2014, the Asia Pacific region with 47% leading paint sales, which accounted for 58% of the Asia Pacific Chinese coatings market, India accounted for 13%; Europe is the second largest paint consumption area, accounted for 24% of total global sales, along with the rapid growth of Russia, Turkey and other Eastern European countries, expected annual growth will reach 2%; North America and Latin America paint sales accounted for 18% and 6% of total sales in 2014.
Paint manufacturers continue to introduce new and advanced technology products in the market, and to develop application specific products for customers, to meet the requirements of customer delivery, and provide technical support to customers, and new product technology and price. Leading companies, including diamond coatings, PPG, SACAL and Xuanwei, focus on “zero VOC” (VOC), as well as green coatings of exceptionally high customer demand.
The largest demand for paints and coatings is residential buildings, which accounted for about 33.1% of global demand in 2014. In 2014, the growing range of green paint and nano coatings, coupled with the growing market for paints and coatings in the Middle East and North Africa, is expected to open the market in the next few years.
Waterborne coatings are currently the main consumption of paint coatings on the market, accounting for about 40% of global demand in 2014. Solvent based technology is the second largest consumer of paint and coatings on the market. In the prediction period of environmental regulations, both solvent based technology and volatile organic compounds will decline. With the growing demand for automotive, electronic and architectural coatings, powder coatings are expected to be the fastest growing coatings in the forecast period. In the near future, because of the higher demand of other paints and coatings, other paints and coatings, such as special coatings, may continue to grow steadily.

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