International.
The global construction paints and coatings market will reach a valuation of US$76.1 million by 2019, up from US$51.6 million in 2012. This equates to a CAGR of 5.8% between 2013 and 2019, the Transparency Market Research report adds.
At present, the construction industry is showing robust growth thanks to economic development following the economic crisis of 2008-09, which affected most economies around the world. Residential, commercial and industrial companies found all over the world are indirectly contributing to the growth of the paints and coatings construction industry.
Among the types of paints and coatings products for construction, water-based products dominated the market in 2012 and maintained a share of about a third of the global market. Other product segments of this market are solvent-based coatings, powder coatings, high solids/radiation curing coatings, and others.
Asia and the Pacific is the largest regional market; the region, along with Europe, had a share of about 70% in the world market in 2012. In Asia-Pacific, the development of high-volume infrastructure, especially in the emerging economies of China and India, offers immense growth prospects for this market.
The Middle East and Africa region is also a hotspot for construction activities due to a number of government-driven infrastructure development projects coming from the UAE, Qatar and Saudi Arabia. This will lead to an increased demand for paints and coatings for the construction of these companies, so much so that the Middle East and North Africa (MENA) region is going to emerge as an important region contributing to the growth of the global construction paints and coatings market.
