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The total consumption of global coatings market in 2016 is expected to reach 40 million tons

Time:2018-03-27 Clicks:

According to the latest report of Market Research Institute kusumgar, nerlfi & growney, the total consumption of global paint market in 2016 will reach 88 billion pounds (about 40 million tons), with a total value of US $130 billion.

The report points out that the global paint consumption demand has declined since 2009 affected by the economic crisis. Although the industry has recovered in recent years, the growth rate is slow. On the other hand, although the Asia Pacific market continues to lead the industry growth, the growth of coating market in the region is also slowing down due to the uncertainty of global and regional economy. However, the continuous operation of raw material prices at a relatively low level brought by the fall in oil prices has contributed to easing the pressure of the coating industry.

In 2016, the Asia Pacific region remained the world's largest consumer market for coatings, accounting for about 47% of the total. China's coatings market accounted for more than half of the total in the Asia Pacific region, but after years of rapid development, it has only grown at a low speed in the past two to three years. India now accounts for about 15% of the Asia Pacific paint market and is still growing.

Europe is the second largest paint market in the world, accounting for about 23% of global consumption in 2016. The growth of paint market in EU countries is still weak, while the decline of Russian economy will further restrict the growth of paint consumption in this region. Turkey is expected to become an important driver of future European paint market growth.

The North American paint market accounted for only 17% of the global market in 2016, and its development is in a mature stage. South America and Central America account for about 7% of the global paint market. The economic recession in Brazil and other countries has a significant negative impact on the demand for paint consumption.

Key:The total consumption of global coatings market in 2016 is expected to reach 40 million tons