WEST CALDWELL, NJ - Asian coatings consumption continues its rapid rise owing to robust growth in the region’s developing economies, such as those of China and India. Coating demand in Asia totaled 21.4 billion pounds, worth $29.5 billion in 2007. Growth is forecast at eight percent per year through 2012 with the emerging economies leading the way.
Asia had a combined population of over 3.6 billion inhabitants and a gross domestic product (GDP) of nearly $12 trillion in 2007. Coating consumption in the region was nearly six pounds per capita. In comparison, the U.S. per-capita consumption of coatings was over 50 pounds per person.
Further information on the Asian coatings industry is available in Kusumgar, Nerlfi & Growney’s recently completed multi-client study, Asian Paint & Coatings, which is available through subscription. Visit www.kusumgar-nerlfi-growney.com for more information.