The global paints and coatings market reached an estimated $99.7 billion by the end of 2010. This global market figure is expected to increase with a modest compound annual growth rate (CAGR) of 3.2% for the 5-year period of 2010 to 2015 and reach $116.6 billion by the end of 2015.
The powder coating and emerging technologies segment will experience the highest growth, a compound annual growth rate (CAGR) of 5.9% over the forecast period. This sector is valued at nearly $18 billion in 2010 and is expected to reach more than $23 billion by 2015.
Waterborne technology coatings are by far the largest type of environmentally friendly coatings. The market for waterborne coatings is an estimated $62.6 billion in 2010, and is expected to grow to $68.0 billion in 2015, a compound annual growth rate (CAGR) of 1.7%.
GLOBAL MARKET FOR PAINTS AND COATINGS, 2008-2015
Source: BCC Research
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Paint is a generic term typically used to identify a wide range of surface coating products, including conventional solvent-borne formulations, varnishes, enamels, lacquers and water-based systems. Normally, painting is a process in which a liquid consisting of several components, when applied, dries to a thin plastic film. Traditionally, major constituents of these paints are solvents. However, nonliquid paints such as powder coatings and high-solids paints have also been developed. These newer materials have led to the use of the term coating instead of the term paint. In general, the function of all paints and coatings is to provide an aesthetically pleasing colored and/or glossy surface, as well as to help metal and other substrates withstand exposure to both their environment and everyday wear and tear. The term coating in this report, excludes inks, thinners and raw materials such as pigments and solvents.
The coatings and paints market consists of liquid- and powder-based paints, varnishes, and related products used for protective and decorative, industrial and automotive, specialty, or other purposes. The architectural and decorative segment consists of products used in homes and buildings, such as interior and exterior paints, primers, sealers, and varnishes. The industrial segment comprises products that are factory-applied to manufactured goods as part of the production process. The specialty segment consists of aerosol paints, marine paints, high-performance maintenance coatings, and automotive refinish paints.
STUDY GOALS AND OBJECTIVES
This report studies and highlights the role of paints and coatings in providing color and protection. It explains the technology and innovation behind coatings development and production, and gives a market overview, analyzing major market trends both in terms of region and application sector. In addition, the report studies in detail the new developments taking place in the paints and coatings industry with respect to continuous improvements in environmental performance. The report analyzes the market for various coating products as well as for the technologies involved. The market for various emerging technologies in coating as well as the new products produced using these technologies has been delved into in the report.
The report also analyzes the various applications of coatings in detail and the markets of such applications, with special emphasis on the new products being developed and markets for such products. Along with the development of new products, research and development is taking the coating technology to new heights, and a closer look into such technologies has been made in the report. New applications coming out of emerging technologies are also discussed. Customers are driving the increased demand for coatings with huge expectations in diverse areas such as performance, ease of application, sustainability, quality, functionality, and environmental properties. All of the above expectations require special attention from manufacturers in order to ensure that products meet expected standards and the market remains buoyant. This report pinpoints the need for the industry’s commitment to continuous improvement in environmental performance and takes a glimpse at a future in which the functionality of coatings will be enhanced and transformed from the conventional areas of protection and aesthetics to meet additional and more specific demands.
REASONS FOR DOING THE STUDY
For any company to succeed in a competitive market, product opportunities must be identified from the viewpoint of the company’s strengths. For this, it is necessary to understand the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium to understand the various exciting and growing opportunities in the field of paints and various types of coatings and will help any prospective manufacturer, distributor, or even a user to understand and succeed in this growing field.
This report is intended to help:
- Marketing managers to identify newer market opportunities and develop targeted promotional plans for paints and coatings.
- Research and development professionals to stay on top of competitor initiatives and explore demand for paints and coatings and to develop new products and create newer applications.
- Business development executives to understand the dynamics of the market and identify possible new markets.
SCOPE OF REPORT
The report has been prepared in a simple format that can be easily understood, with a large number of tables, charts, and figures. The scope of the report includes a detailed study of global and regional markets for various types of coatings along with reasons for variations in the growth of the industry in certain regions.
Primary information sources for this market research include manufacturers and suppliers of paints and coatings around the world, raw material suppliers for manufacture of these products, major users of these products, research organizations, governmental agencies, trade associations, and various equipment suppliers. Additional secondary research sources include databases, trade literature, specialized journals, and government statistics. These resources have been researched throughout the compiling of this report.
Srinivasa Rajaram is a mechanical engineer with more than 40 years of experience in designing factory layouts and setting up factories. He has established factories for the production of weighing and dynamic balancing machines in India and has experience in the designing, production, and servicing of that equipment. He was Senior Vice President at M/S Schenck Avery Limited, an Indo-German joint venture, and has set up an automatic paint shop for painting various components of weighing and dynamic balancing equipment.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is of a speculative nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.
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