VAISHALI, India - A market research firm, Koncept Analytics, has published a new report that studies the global paint and coatings industry. According to the report, the paint and coatings industry is going through a phase of acquisitions, with market share shifting from large U.S.- and Europe-based manufacturers to those based in Asian countries including Japan, Korea, China and India. The Asia and Eastern Europe markets are showing growth potential for industrial coatings, and North America continues to lead in the global coatings industry. China is the largest consumer of coating additives in Asia, with approximately one-third of the market. India’s market is dominated by the decorative paint and coatings segment.
Growth in the marine coatings market can be attributed to a surge in new building in the Asia-Pacific region, as well as high demand for exported goods from the region. The automotive coatings market is growing, due to increasing new car sales in Europe and growth in car manufacturing in China.
One of the major challenges facing the industrial coatings industry is the unprecedented escalation in the price of oil, natural gas and raw materials, which is having a significant impact on the marine coatings industry.
The report, Global Coatings Market Report: 2008 Edition, analyzes the worldwide coatings market with an overview of the major markets and market segments. It also focuses on major factors driving growth and key issues affecting the market, discussing current industry trends. The report also profiles the major competitors in the market as well as the outlook for the paint and coating industry.