BCC Research Predicts Evolving Technologies, Steady Growth in Coatings Market
WELLESLEY, MA - The coatings market remains healthy, and growth appears sustainable over the long term. BCC Research reveals in its new report that legislation is forcing the market to evolve technologically, and products and formulations could change dramatically during the forecast period.
The global market for paints and coatings is forecast to reach nearly $132.2 billion and $164.1 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 4.4%. As a segment, waterborne technology is expected to grow from $37.2 billion in 2016 to nearly $48.7 billion in 2021, demonstrating a five-year CAGR of 5.5%. Powder/emerging coating technologies as a segment should total nearly $32.7 billion and $46.8 billion in 2016 and 2021, respectively, at a five-year CAGR of 7.5%.