According to a new study by kusumgar, nerlfi & growney consulting, the global consumption of paints and coatings in 2019 is 44.4 million tons, worth about 132 billion euros. Since the global recession in 2009, the figure has grown 66%, of which 62% is from the Asia Pacific region.
Little growth in 2020
Paint consumption has increased slightly in recent years, but slowed down in 2019. Due to the impact of coronavirus on the economy, the current growth is expected to be very small or no growth this year, and some terminal applications have declined significantly. Recovery is expected in 2021, with a long-term growth rate of 4% per year. In 2019, the consumption of architectural coatings will be 26 million tons, worth about 49 billion euros, while the consumption of industrial coatings will be 18.4 million tons, worth about 73 billion euros. The consumption of building coatings has increased by 72% since 2009, and the consumption of industrial coatings has increased by 59%. It is expected that the annual growth rate of these two segments will reach 4% by 2024. In 2019, water-based technology accounted for 56% of the total global coatings, of which 85% were building coatings, and the rest were industrial coatings. Ten years ago, water-based coating technology was half of the total, of which the construction part accounted for 88%. Solvent based technology accounts for 37% of the total coatings in 2019, 71% of which are used in the field of industrial coatings, and the rest are in the field of construction. In the field of architectural coatings in 2019, water-based technology accounts for about 81%, while solvent-based technology accounts for only 19%. It can be seen that the advancement of water-based technology in the field of architectural coatings is the fastest. In the field of powder coatings, since 2009, the output has almost doubled, among which powder coatings account for about 7% of the total industrial coatings in 2019. In addition, the production of radiation curing coatings has increased by 80% in the past decade.
ranking
In 2019, the top five paint suppliers are PPG, Xuanwei, Akzo Nobel, Nippon and Ashtar, which account for 35% of global sales. This ranking does not include sales of auxiliary materials, such as construction products, adhesives, sealants, construction tools, etc.
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