COATING Insights Releases Two Global Paint and Coatings Market Reports
Courtesy of COATING Insights.
COATING Insights has released two reports for the paint and coatings markets. The first – titled, Top 11 Global Paints & Coatings Companies – details the growth of the top performing paint and coatings companies. The second – titled, World Market Paints & Coatings – details the global performance of the industry. According to COATING Insights, the global market for paints and coatings grew by 1.3% in volume in the third quarter of 2022. The Top 11 companies grew by 3.8%, which the agency says is due to intensive acquisition activities.
According to the second report, the world market for architectural coatings grew by 0.9% in volume. That growth was somewhat weaker than the industrial coatings market, which grew by 1.7%. The report says the reason for this is the weak demand for architectural coatings in Europe and North America.
The TOP 11 Global Players, which include PPG, Sherwin-Williams, AkzoNobel, Nippon Paint, Axalta, Asian Paints, Kansai Paint, BASF Coatings, Jotun, RPM, and Masco, grew organically (1.6%) and through acquisitions (2.2%). The individual companies showed different developments. According to the report, this is due not only to the regional focus of the companies, but also to the mix of the architectural coatings and industrial coatings business segments. The Japanese company Nippon Paint reported the highest growth in the sum of both growth components, with 15%. The report says this is primarily due to the intensive acquisition activities with 11%.
For more information, visit: www.coating-insights.com.
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