Ceresana Publishes Market Study “Paints and Coatings – Global Report”
Global consumption of paints and coatings continues to rise. According to a recent market study by Ceresana, demand is expected to grow by 2.9 percent annually through 2035. Powder coatings and water-based coatings, in particular, are gaining in importance.
Worldwide, approximately 48 million metric tons of paints and coatings are currently sold each year—about six million metric tons more than at the beginning of the decade. The market research firm Ceresana has analyzed the global market for architectural paints, wood coatings, and industrial coatings for the seventh time. The new market study forecasts further demand growth averaging 2.9 percent per year through 2035. Among the fastest-growing application areas are industrial coil coating and the construction sector. Nearly half of all coating products sold worldwide are purchased by the construction industry. The Asia-Pacific region accounts for approximately 46 percent of global consumption.
Powder Coatings Showing Particularly Strong Growth
Consumption of paints and coatings based on conventional synthetic resins such as acrylic, vinyl, alkyd, epoxy, polyurethane, and polyester continues to rise. Among the various coating technologies, powder coatings are currently recording the strongest sales growth at around 4.5 percent per year. Market researchers also expect dynamic growth for water-based paints and coatings. Due to their low emissions of volatile organic compounds (VOCs), these are considered a more environmentally friendly alternative to solvent-based products. They are used, among other things, in machinery and automotive painting, as well as for coating wood, plastics, leather, and textiles. Bio-based paints and coatings are also gaining importance and are increasingly able to compete with conventional products in demanding applications. The seventh edition of the market study “Paints and Coatings – Global” analyzes consumption, production, and sales by region, application area, product type, and coating technology.
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