International. According to a new study, global coating consumption during 2013 was 80 billion pounds valued at $120 billion, consulting firm Kusumgar, Nerlfi & Growney reported.
The study reports that the industry has recovered from the global recession of 2008-2009, and an average annual rate of 5% growth is forecast through 2018. This modest pace of progress is largely being driven by strong growth in emerging economies in the Asia-Pacific region. Consumption in Asia and the Pacific, particularly China and India, has soared and is up to 50% in pounds since 2008.
The use of coatings in South and Central America in 2013 accounted for 8% of the total weight in pounds and 6% of the global value. In this case, growth of 5% per year is expected over the next five years. The use of coatings in this region is mainly being driven by a 6% annual increase in Brazil, which accounted for two-thirds of the region's volume in 2013.
The Asia-Pacific region was in 2013 the main consumer of coatings with 45% of the volume and 40% of the value. Europe ranks second, accounting for 24% of the volume and 28% of the value in 2013.
Around the world, regulations and consumer demands continue to increase the growth of cleaner technologies such as water-based, dust-based and radiation-cured. Water-based technology was the leader in volume in 2013, with a share of 52% of pounds and is second in value with 40% of dollars. 85% of the libra water-based coatings were architectural paints, in which the technology continues to capture a share of the solvent-based ones.
