LONDON, Dec. 8, 2016 /PRNewswire/ -- Emerging markets boost worldwide demand
As discussed in new study World Paints & Coatings, a bright outlook is forecast for the paint and coatings market worldwide through 2020, buoyed by strong economic growth in developing regions. Heightened income levels in emerging markets will continue to boost the ranks of the working and middle classes, driving new demand for housing, as well as fueling higher frequencies of paint use. Expanding manufacturing sectors and infrastructure investment will spur sales of industrial coatings utilized in the production and upkeep of motor vehicles, furniture, marine vessels, and roads and bridges.
India to post fastest gains, while demand in China remains strong
Freedonia Group projects that of the major paint and coatings markets worldwide, the best opportunities are forecast for India, where paint use will be fueled by rapidly expanding investment to build or update homes, businesses, and industrial facilities. In China, which alone accounts for nearly one-third of the global market, a growing middle class will continue to boost demand for higher quality products, while solid gains in manufacturing output are expected to drive industrial coatings sales. Among developed nations, the US will post the best performance as building construction activity and fixed investment spending advance at a solid pace. Western Europe is expected to see a turnaround in paint sales, spurred by improved economic output and a recovering construction sector.
Emissions regulations continue to shape industry
Coatings suppliers worldwide will continue to reduce the volatile organic compound (VOC) content of their products due to intensifying regulatory pressure. As a result, water-based paints and powder coatings will gain market share at the expense of solvent-based products, especially in countries such as China, where environmental legislation is becoming increasingly strict. Nonetheless, solventborne formulations will continue to dominate a number of specialty applications, including marine coatings, automotive refinishes, and corrosion protection coating.
World Paint & Coatings presents historical data (2005, 2010, 2015) plus forecasts (2020, 2025) for supply and demand, as well as demand by market and formulation, for six regions and 23 countries. The study also considers market environment factors, assesses the industry structure, evaluates company market share and profiles 38 industry players worldwide including Akzo Nobel, Axalta Coating Systems, BASF, Nippon Paint, PPG, Sherwin-Williams and Valspar.
Freedonia's market research studies provide timely access to reliable, unbiased analysis from which to benchmark performance and answer critical questions: Is your business growing faster or slower than the overall market? Is your organization gaining or losing market share? Which products and markets are the most desirable to explore for expansion? Are there industry trends or competitor activities that present a threat or opportunity to your business?
Studies offer a great ROI and can help business leaders make informed, analytically driven decisions. When considering the time, effort, and expertise that goes into it, our off-the-shelf research saves our clients time and money.
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