Paints and Coatings: Global Markets & Advanced Technologies
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 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.
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.
The global market for paints and coatings increased from $88.3 billion in 2006 to an estimated $91.2 billion in 2007. It should reach $102.8 billion by 2012, a compound annual growth rate (CAGR) of 2.4%.
Much of the growth over the past 5 years has been driven by increasing demand in developing markets, especially China, Thailand, Indonesia, India and Taiwan, along with Eastern Europe, comprising Russia, Hungary and the Baltic States.
In the application sector, automotive coatings are recording strong growth due to increased car ownership at the global level, especially in Asia Pacific and Eastern Europe.