ELMWOOD PARK, NJ - According the consulting firm Kusumgar, Nerlfi & Growney, coating consumption in the Asia-Pacific region is projected to be 16.45 million tons in 2013, worth $48.3 billion. Volume is more than double that of 10 years ago. Consumption in China is three times that of 2003, and Indian volume is about two-and-one-half times greater. Many of the smaller coating consumers in the region have also undergone significant growth. In contrast, coating consumption in Japan has declined, and South Korean volume is about the same.
China accounts for 58 percent of the region’s consumption in volume and 55 percent of the value. India is now the second-largest consumer in tons, with a 13 percent share, and is third in dollars with 10 percent. Japan is second in value with 12 percent of the total but will be displaced by India within the next two years. Korea is the fourth-largest consumer in both volume and value. The above four countries took 84 percent of the region’s tons and 85 percent of the dollars. Indonesia, Thailand and Vietnam each consumes about 2-3 percent of the regional volume and are expanding markets. Australia, Taiwan and Singapore are mature outlets for coatings.