World Paints and Coatings Demand to Reach 28.8 Million Tons in 2007
Volume gains in global paints and coatings demand will register a marked improvement over the 1997 to 2002 period due to a healthy and sustained expansion in GDP and fixed investment. Rapid growth in the world's urban population will also continue to put a strain on the existing housing stock, prompting spending at both the public and private levels. These and other trends are presented in the Cleveland-based Freedonia Group's World Paints & Coatings study.
The most rapid gains will arise in the world's emerging markets, most prominently the Asia/Pacific region (excluding Japan), although Latin America and Eastern Europe are also forecast to experience growth significantly above the global average. Gains in Asia are based primarily on continued expansion in the Chinese market, already the largest in Asia after overtaking Japan in the early part of the new century. India, South Korea and Taiwan also hold strong prospects, particularly in construction-related markets.