ELMWOOD PARK, NJ - Kusumgar, Nerlfi & Growney announced the publication of its third Global Paint & Coatings study. According to the firm, global consumption of coatings was 90.4 billion pounds valued at $121 billion in 2016, and a 4% annual rate of growth is forecast through 2021. Volume is up 54% from the low of the 2009 global recession and 44% from the pre-recession level.
The Asia-Pacific region is the leading coatings consumer with 47% of the volume and 45% of the value in 2016, and growth there is placed at 6% per year. The emerging economies of the region have been the engine of growth for the industry. The rocket growth of the recent past is now slowing as increases in China, 59% of the volume, have fallen to a more modest mid-single-digit rate. India is now among the leaders in growth in the region at just over 10% per year.
The global coating industry continues its move to water-based and other more environmentally friendly technologies, particularly in emerging economies. Many developed economies now employ a significant percentage of these technologies. Water-based technology has increased its share from one-half of the volume in 2008 to 55% in 2016, and it is projected to garner a 57% share in 2021.
The above information is based upon Kusumgar, Nerlfi & Growney’s multi-client study, Global Paint & Coatings, 2016-2021, which is available through subscription. Interested parties are invited to contact the company by calling 973/439.0030 or by e-mail at firstname.lastname@example.org. Further information can be obtained at www.kusumgar-nerlfi-growney.com.