Kusumgar, Nerlfi & Growney Releases Global Paint & Coatings Study
ELMWOOD PARK, NJ – According to a new study by the consulting firm Kusumgar, Nerlfi & Growney, global consumption of paint and coatings was 44.4 million tons (98 billion pounds) in 2019 worth $132 billion. Volume is up 66% since the 2009 global recession with 62% of the increase coming from the Asia-Pacific region. Coating volume has grown modestly in recent years but slowed in 2019. Owing to the economic effects of the coronavirus, little to no growth is currently expected for this year with some end uses declining significantly. A recovery is anticipated for next year with long-term growth placed at 4% per year.
Architectural paint consumption was 26 million tons worth $53 billion in 2019, and industrial coatings consumption was 18.4 million tons valued at $79 billion. Architectural paint volume is up 72% since 2009, and industrial coating volume is up 59%. A 4% annual rate of growth is forecast for both segments through 2024.