ELMWOOD PARK, NJ - According to a new study by the consulting firm Kusumgar, Nerlfi & Growney, the global consumption of coatings was 80 billion pounds in 2013 and valued at $120 billion. The study reports that the industry has recovered from the 2008-2009 global recession, and a 5% average annual rate of growth is forecast through 2018. This modest rate of advance is being propelled largely by the strong growth in the emerging economies of the Asia-Pacific region. Consumption in Asia-Pacific, particularly China and India, has surged and is up by about 50% in pounds from 2008.
The Asia-Pacific region is the leading coating consumer with 45% of the volume and 40% of the value in 2013. Growth is placed at 8% per year, and its share is projected to rise to 51% of the pounds and 46% of the dollars in 2018. China accounts for 58% of the region’s volume, and India accounts for 13%.
Europe is the second-largest coatings consumer taking 24% of the volume and 28% of the value in 2013. A mature 2% annual rate is forecast, with growth in Russia, Turkey and other Eastern European countries expanding faster. North America took 17% of the global poundage and 21% of the dollars. Like Europe, growth is mature, and a 1% annual rate is forecast through 2018.
South and Central American coatings usage in 2013 represented 8% of the total poundage and 6% of global value. Here, growth is expected to be 5% per year over the next five years. Coatings usage in this region is being driven principally by a 6% per year increase in Brazil, which accounted for two-thirds of the region's volume in 2013.
Throughout the world, regulations and consumer demands continue to augment the growth of cleaner coatings technologies such as water-based, powder and radcure. Water-based technology leads in volume in 2013 with a 52% share of the pounds and is second in value with 40% of the dollars. Some 85% of the water-based coatings pounds were architectural paints where the technology continues to capture share from solvent-based types. Solvent-based paints were 41% of the worldwide volume and 48% of the value in 2013. Industrial applications were 68% of the solvent-based coatings pounds and 80% of the dollars. Powder, radcure and other 100% solid liquid coatings are found in industrial applications and combined for 7% of the pounds and 12% of the value in 2013.
The top-25 suppliers of coatings combined for 54% of the sales in 2013, and the top-100 accounted for two-thirds. The top-100 suppliers of architectural paints held three-quarters of the sales in 2013, and the top-100 suppliers of industrial coatings held 65%. There were 14 companies with coating sales in excess of $1 billion in 2013; two companies had sales over $10 billion.
The above information is contained in Kusumgar, Nerlfi & Growney’s study, Global Paint & Coatings, 2013-2018, which is available through subscription. Interested parties are invited to contact the company by calling 201/773.0785 or e-mailing nerlfikng@cs.com.