Asian coatings consumption continues its rapid rise owing to robust growth in the region’s developing economies, such as those of China and India.
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. Coatings 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.
China, with a population of 1.3 billion, uses 3.6 pounds per capita of architectural coatings and 4 pounds per capita of industrial coatings. India, with a population of 1.1 billion, has a per capita consumption of architectural coatings of 1.9 pounds and a per capita consumption of industrial coatings of .5 pounds, the lowest consumption of industrial coatings in the region. In comparison, Japan, with a population of 128 million, consumes 6.4 pounds of architectural coatings per capita and 16.4 pounds of industrial coatings per capita. Singapore leads the way in per capita consumption of both architectural and industrial coatings with 17.4 pounds and 40.9 pounds respectively. Indonesia has the lowest per capita consumption of architectural paints with 1.4 pounds.
Further information on the Asian coatings industry is available in Kusumgar, Nerlfi & Growney’s recently completed multi-client study, Asian Paint & Coatings. Visit www.kusumgar-nerlfi-growney.com for more information.
Asian Coatings Consumption Continues to Rise
November 1, 2008