Ceresana Publishes Report on The World Market For Paints and Varnishes
CONSTANCE, Germany - According to a new study by the market research institute Ceresana, worldwide demand for paints and varnishes accounted for almost 40 million tonnes in 2014. The report gives an analysis up to the year 2022.
According to the report, half of all paints and varnishes are consumed by the construction industry. In many countries, major projects in commercial construction and infrastructure provide for increasing revenues. Besides traditional interior and exterior house paints, which are mainly used for constructions of residential units, more and more innovative products with multiple uses, such as paints with lotus effect, are increasingly processed. Market researchers at Ceresana expect demand for paints and varnishes used for industrial products to increase by 2.1 percent per year. Currently, 40 percent of global revenues are generated in the Asia-Pacific region. Ceresana expects this region to further increase its leading position in the upcoming years.