Industrial Coatings Market Worth Over EUR 40 Billion
HAMPTON, UK – According to a new study by PRA, the global industrial coatings market was estimated to be worth over EUR 40 billion in 2009. The global economic downturn caused a decline of 8 percent (in terms of tonnage), which resulted in estimated coatings demand falling back to 2006 levels. As a result, industrial coatings exhibited a 0.1 percent compound annual growth rate (CAGR) for the period 2006 to 2009.
The most important region of industrial coatings demand is the Asia Pacific, which accounted for around 48.5 percent of global coatings consumption. The region is also expected to be the main driver of future coatings demand to 2020, with a CAGR of between 8 percent and 9.5 percent expected for the period 2010 to 2015. Within this region, China and India are expected to be the largest contributors to future coatings demand.