Building demand drives growing paint, up an average of 5% a year

HC
.
: Due to the huge demand in the construction industry, the global
paint
coating
market is still growing. Global paint coatings grew by 3.9% in 2014 to 43.38 million tons, with total sales of 85 billion pounds, or about $132.3 billion. In 2014, the sales volume of
Building Coatings
was 21.69 million tons, accounting for 50% of the total sales volume of the industry, with annual sales of US$63.504 billion, accounting for 48% of the total sales;
sales of
coatings were 12.5802 million tons, accounting for 29% of the industry's total sales, with annual sales of $33,075 million, accounting for 25% of total sales. In 2014, 14 companies sold more than $1 billion in paints and three companies sold more than $10 billion.
's growing maturity and rapid growth is largely due to the fact that the paint and coatings industry has recovered from the global recession of 2008-2009, rising by an average of 5% a year until 2018. This modest growth rate has contributed significantly to strong growth in the emerging economies of the Asia-Pacific region. In particular, consumption in China and India in the Asia-Pacific region has continued to surge since 2008, reaching about 50 per cent.
paint coatings industry can be divided into construction / decoration, industrial OEM and specialty coatings three markets. Architectural coatings are the largest part, followed by industrial coatings and specialty coatings, while industrial coatings are mainly driven by industrial production and the increase in automotive OEMs.
, the Asia-Pacific region remains the largest consumer of paint and coatings, followed by Europe, North America and Latin America. In 2014, Asia Pacific led the paint sales with 47%, of which China accounted for 58% of the Asia-Pacific paint market and India for 13%; Europe is the second largest consumer of paints, accounting for 24% of global sales, and is expected to grow by 2% a year as Russia, Turkey and other Eastern European countries grow rapidly. Paint sales in North America and Latin America accounted for 18% and 6% of total sales in 2014, respectively.
coating manufacturers continue to introduce new and technologically advanced products on the market, and develop specific application products for customers to meet customer delivery requirements, and provide customers with technical assistance, as well as new product technologies and prices. Leading companies include Diamond Coatings, PPG, SACAL and Xuanwei, with a focus on zero VOC (volatile organic compounds) and green coatings with particularly high customer demand.
, the largest demand for paints and coatings was for residential buildings, which accounted for about 33.1% of global demand in 2014. The growing range of green coatings and nanopassics in 2014, coupled with the growing paint coatings market in the Middle East and North Africa, is expected to open up in the coming years.
water-based
are currently the main consumption of paint coatings on the market, accounting for about 40% of global demand in 2014. Solvent-based technology is the second most consumed paint and coating on the market. Solvent-based technologies and volatile organic compounds will decline during the forecast period of environmental regulations. Due to the growing demand for coatings in automotive, electronics and construction,
powder coatings are
to be the fastest growing coatings during the forecast period. In the near future, due to the higher demand for other paints and coatings, other paints and coatings, such as specialty coatings, may continue to grow steadily.