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Paint and Coatings Market Research: Latest Industry Statistics & Trends

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Global Paint & Coatings Industry

Part of the specialty chemicals sector, the world paint and coatings market expansion will be fuelled by increased activity in the global building construction sector, with residential construction, in particular, witnessing strong recovery in Western Europe and North America. Increased manufacturing activity will equally lead to greater demand for coatings necessary for the production of motor vehicles and other industrial maintenance applications.

The architectural coating segment dominates the world paint and coatings market, reports Koncept Analytics. Apart from the construction and automotive sectors, other end-use industries relying on the paints and coatings sector include marine, wooden furniture, and steel. Sales of solvent-based paint and coatings are expected to continue falling in developed and emerging regions due to efforts to limit the emission of volatile organic compounds and use alternative formulations instead. Demand for green-based chemicals continues to rise. For example, zero volatile organic component (VOC) coatings have become very popular as solvent-based products become increasingly replaced with water-based products.

Paint & Coatings Market Segments

Global demand for paint and coatings will continue to come mainly from architectural markets. Strong recovery in the construction sector and growth in residential building spending, led by the US but also in Japan and Western Europe, will fuel demand for architectural paint and furniture coatings. Similarly, recovery in the automotive sector and increased demand for new vehicles will drive demand for coatings in manufacturing applications. There will be slower gains in other segments such as the maintenance and specialty coatings markets, which will be slowed by declining marine applications and a poor outlook in the vehicle refinish coatings segment in developed nations.

High–performance ceramic coatings have a myriad of uses and require special preparation techniques. Ceramic coatings are commonly used applications that need to resist high temperatures, wear and corrosion. High–performance ceramic coatings have revolutionized internal specification patterns. This is the case with cutting tool inserts, whose useful life is far superior to that of uncoated inserts, which has reduced the cost of cutting tool inserts and boosted productivity, reports BCC Research. Ceramic–coated components used in the manufacture of aircraft turbine engines similarly benefit the aviation industry. In addition, consumers are taking advantage of these products, coating auto engine components to lengthen engine life and improve performance.

Growth in the original equipment manufacturer (OEM) global automotive coating market is fuelled by an increasing number of car owners. Automotive coatings generally refer to cationic electrocoat and primer surface, which are both present in the OEM automotive coating. Automotive refinishing coating meanwhile only refers to primer surface. There are less than 10 manufacturers across the globe able to manufacture cationic electrocoat as it requires high technological threshold. Leading players include KCC, Dupont, BASF, Kansai Paints, PPG and Nippon Paints.

Regional Paint & Coatings Market Share

The Asia-Pacific region will continue to dominate the paint and coatings industry in terms of consumption. The region is also set to record the fastest growth, according to research from Freedonia. China and India will lead regional demand as Asia’s two largest markets, and exhibit the highest growth in the global coatings market. North America, similarly, is expected to record above-average gains, recovering from the market dip witnessed between 2005 and 2010. Increasing levels of building construction and manufacturing activity will drive growth in the US coating market over coming years. Though Western Europe will also see recovery in these sectors drive demand for paints and coatings, it will continue to lag behind in terms of growth.

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