The hottest global demand for coatings is expected

The global demand for coatings is expected to reach 54.7 million tons in 2020

the global demand for coatings is expected to reach 54.7 million tons in 2020

June 23, 2016

[China paint information] the American Market Research Institute Freedonia group recently released an analysis report, predicting that the global demand for coatings will grow at an annual rate of 3.7%, and will reach 54.7 million tons in 2020, when the market value will reach $193 billion

affected by the strong economic growth in developing regions, especially in the Asia Pacific region, the good situation in the construction field will stimulate the sales of architectural coatings. At the same time, the increased investment in manufacturing and infrastructure in this region will further promote the application of industrial coatings in vehicles, furniture, ships, highways, bridges and other fields, and paint manufacturers will gain business opportunities from it

however, analyst Carolyn zulandt believes that due to the increased demand for high-quality coatings in developed and developing regions, higher requirements for construction technology have affected the overall income of the coating industry, and reducing coating output is a necessary measure to realize the structural adjustment of coating products. It is worth noting that China's economic growth has slowed significantly and construction investment has shrunk, which will also curb the overall growth momentum

India is the fastest-growing country. The local rapid expansion of investment to build or because the vast majority of mechanical parts work under cyclic loads, fatigue damage has become the main damage situation of mechanical parts, renovating residential, commercial and industrial facilities, thereby stimulating the demand for paint. China, which accounts for almost half of the global coating market, will continue to stimulate the demand for architectural coatings due to the gradual expansion of the proportion of the middle class. In addition, the good situation of the manufacturing industry will also boost the demand for industrial coatings

for developed countries, the United States is outstanding in construction and fixed investment expenditure, while Western Europe will also see a turnaround in paint sales due to the economic boost of Japan and the recovery of the construction sector

under the pressure of increasingly stringent regulations, coating manufacturers around the world will continue to work to reduce the VOC content of their products. Therefore, water-based coatings and powder coatings will gradually replace solvent based coatings, especially in China, where environmental protection regulations are increasingly stringent. However, solvent based coatings will still take the lead in some special application fields, such as marine coatings, automotive coatings, anti introduction wafer/chip production lines, advanced photoresist, electronic wet chemicals and other integrated circuits, as well as supporting industrial projects such as corrosion coatings