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Global coatings market: $141 billion industry forecast by 2018
Global Markets and Advanced Technologies for Paints and Coatings - a new market research report on 2014-03-14 21:27:01
The global coatings market and paints industry was valued at $111.2 billion in 2012 and should reach $116.9 billion in 2013. Total market valued is expected to reach $141 billion in 2018 after increasing at a five-year compound annual growth rate of 3.8 %.The market for paints and coatings can be broken down into four segments: solvent-borne technologies, waterborne coating technologies, high solids/radiation cure technologies, and powder/emerging coating technologies:- The segment made up of solvent-borne technologies should reach $35.2 billion in 2013 and decrease to $32.1 billion in 2018, a CAGR of -1.8%.
- The segment made up of waterborne coatings technologies is expected to reach $31.1 billion in 2013 and nearly $40.1 billion in 2018, a CAGR of 5.2%.
- As a segment, high solids/radiation cure technologies is expected to total $25 billion in 2013 and nearly $33 billion in 2018, a CAGR of 5.7%.
- The powder/emerging coating technologies segment should reach a value of nearly $25.6 billion in 2013 and $35.9 billion in 2018, a CAGR of 7%.There is a major shift in the global paints and coatings production, which is moving away from the developed regions, such as Europe and the U.S., to the developing economies, such as Asia, comprising China and India. Continued increasing demand from the developed countries, in addition to the demand from the developing countries, is contributing to the overall expansion of the worldwide coatings market. Industrial growth in developing economies is a major driver for growth in the coatings industry. In most regions of the world, the coatings industry is mature and the growth of coatings industry is dependent on a number of factors, including the level of economic activity and the state of the construction industry, which remains a major consumer of paints and coatings.Paint is the term normally used to identify surface coating products, including solvent-borne formulations, varnishes, enamels, lacquers and water-based systems. In the painting process, a liquid consisting of several components is applied to a surface and dries to a thin plastic film. Normally major constituents of paints are solvents.Additionally, powder coatings and high solids paints, which are non-liquid paints, have been developed. Such newly developed materials have led to the use of the term "coating" instead of the term "paint." Functionally paints and coatings provide an aesthetically pleasing colored and/or glossy surface, as well as to help metal and other substrates withstand exposure to both their environment and everyday wear and tear. The term "coating" in this report excludes inks, thinners and raw materials such as pigments and solvents.

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