The turbulence of the coronavirus era seems to be over for now: as shown by the latest, sixth study on these products by Ceresana, the global market for paints and coatings has stabilized again. In 2020, global demand for paints and coatings fell to a total of 41.8 million tonnes, mainly due to the slump in the automotive industry. This was followed by a strong countermovement. Growth has now leveled out again at lower figures: Around 44.5 million tonnes of paints and coatings were sold worldwide in 2022. Ceresana forecasts that demand will increase by around 3.1% per year until 2032. There are significant regional differences: In some countries, a recovery is not expected until 2025.
Sustainable waterborne coatings
Powder coatings are currently experiencing particularly dynamic growth, although they still form a small market segment. Ceresana’s market researchers expect the greatest growth for waterborne paints and coatings, which continue to gain market share compared to products containing solvents. Waterborne paints are more difficult to process, but are considered more environmentally friendly as they hardly emit any volatile organic compounds (VOCs). They are not only used for buildings, but also for painting machinery and cars, as well as for coating wood, plastics, leather and textiles. The consumption of paints and coatings based on plastics such as acrylic, vinyl, alkyd, epoxy, polyurethane or polyester continues to rise. However, biobased paints are also increasingly being used, especially as they can easily be combined with biobased insulating materials, biobased adhesives and other sustainable building materials.
Construction industry is the main customer
Most paints and coatings are consumed in the Asia-Pacific region. In terms of application areas, wood processing and the construction industry are experiencing the greatest growth. The construction sector accounts for almost half of all paints and coatings sold worldwide. Although residential construction is currently somewhat weaker, new infrastructure and commercial buildings are still being built in many countries. Acrylic resin-based paints in particular are used as wall and façade paints. For exterior facades, acrylic paints are often used in combination with water-repellent silicone resins. Biobased paints and coatings, which are made entirely or at least partially from renewable raw materials or minerals, can be an alternative to synthetic resins, particularly for interiors. These ecological coatings promise to be less toxic and more environmentally friendly than petrochemical products based purely on crude oil or natural gas. However, the prices and properties of biobased paints cannot yet keep up with the fossil-based competition in all applications.
Current market study “Paints and Coatings – World” (6th edition):
Chapter 1 comprehensively analyzes the global market for paints and coatings. Forecasts up to 2023 are provided for the entire world and its various regions. The development of revenues, demand, and production of paints and coatings is outlined for each world region. The market data is broken down into five sectors for eight application areas: Construction, Industry (Coil coatings, other industry products), Transportation (OEM coatings, refinish, marine paints), Wood processing, other application areas. Demand for paints and varnishes is analyzed for the individual product types: Acrylics, Vinyls, Alkyd, Epoxy, Polyurethane, Polyester, other polymers, other products. A differentiation is further made according to technology: Waterborne, Solvent-borne, Powder coatings, other paints and coatings.
Chapter 2 analyzes the 16 most important countries for the paint market in detail: Demand for paints and coatings, exports, imports, production and revenues. Demand (in tonnes) and revenues are provided for the various application areas. The data regarding demand is further broken down by product type and technology for each country.
Chapter 3 provides a useful directory of the 106 most important manufacturers of paints and coatings, clearly arranged according to contact details, revenues, profit, product range, production sites, and profile summary. The manufacturers presented with company profiles include, for example, 3M Company, AkzoNobel N.V., Axalta Coating Systems Ltd, BASF Coatings, Knauf Gips KG, Masco Corporation, Nippon Paint Co, Ltd, PPG Industries, RPM International Inc. and The Sherwin-Williams Company.
Further information about the market study “Paints and Coatings – World” (6th edition): https://ceresana.com/en/produkt/paints-coatings-market-report-world
About Ceresana
As one of the world’s leading market research institutes, Ceresana specializes in the chemicals, plastics, packaging, and industrial goods sectors. Special focus areas are bio-economy and automotive / mobility. Since 2002, companies have benefited from high-quality industry analyses and forecasts. Over 250 market studies provide more than 10,000 clients around the world with the knowledge base for sustainable success.
More about Ceresana at www.ceresana.com
Ceresana
Mainaustrasse 34
78464 Konstanz
Germany
Press Contact: Martin Ebner, m.ebner@ceresana.com