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Paint & Coatings remain largest market, exhibit fastest gains | Just PR News

Monday April 21st 2014

Paint & Coatings remain largest market, exhibit fastest gains

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World Paint & Coatings to 2015

World demand to rise 5.4% annually through 2015

Global demand for paint and coatings is forecast to rise 5.4 percent per year to 45.6 million metric tons in 2015, valued at $142 billion. Advances will be driven by a strong acceleration in world building construction spending, particularly residential construction, which is expected to rebound in North America and Western Europe. Healthy growth in global manufacturing activity will also fuel increased demand for coatings used in the production of motor vehicles and other durable goods, as well as industrial maintenance applications. Solvent-based paint and coatings will continue to see their share of the market decline in both developed and developing markets, as ongoing efforts to reduce the emission of volatile organic compounds (VOCs) are favoring alternative formulations. http://www.bharatbook.com/market-research-reports/materials-market-research-report/world-paint-coatings-to-2015.html

The Asia/Pacific region will remain the leading consumer of paints and coatings through 2015, and will also see the most rapid gains. Regional demand will be fueled by China and India, the two largest markets in Asia and two of the fastest growing coatings markets in the world. Above-average gains are also forecast for North America, rebounding strongly from the declining demand of the 2005-2010 period. Coatings demand in the region will benefit from a greatly improved outlook for building construction and manufacturing activity in the US. While paint and coatings demand in Western Europe will see a similar recovery from recent declines, the region will remain the world’s slowest-growing market. Among the other areas of the world, best opportunities are expected in the Africa/Mideast region, where paint demand per capita is the lowest in the world.

Architectural markets to continue claiming most demand

Architectural markets will continue to account for a majority of global paint and coatings demand in 2015. Demand for architectural paint will be fueled by healthy growth in residential construction spending, particularly in the US, Western Europe and Japan. Coatings demand in manufacturing applications will benefit from a pickup in world motor vehicle production, as well as an improvement in building construction activity, which will drive demand for furniture coatings.

Maintenance and specialty coatings markets will see moderately slower gains, restrained by a downturn in marine applications, as well as a more negative outlook for vehicle refinish coatings in the developed countries of the world.

Water-based and high-solids coatings to continue gaining market share

For more information kindly visit :  http://www.bharatbook.com/market-research-reports/materials-market-research-report/world-paint-coatings-to-2015.html

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