Kusumgar, Nerlfi, & Growney says global
coatings market worth $120 billion
According to an upcoming study by the
consulting firm Kusumgar, Nerlfi, &
Growney, global consumption of coatings
in 2012 is projected to come in at 67 billion pounds worth $120 billion. Volume
has bounced back from the recession year
of 2009 with the Asia-Pacific region leading the way. However, growth in 2012
slowed owing to global and local economic uncertainties. Coating volume in
2012 is up 15 percent since the 2009
global recession but coating value is up by
about one-third largely because of the escalation in raw material prices.
The Asia-Pacific Region is the largest
consumer of coatings taking 42 percent of
the volume in 2012. China accounts for
over one-half of the region’s consumption
with growth now moderating from the
rapid expansion of the past. India is now
about 15 percent of the regional volume
and continues to increase its share.
Europe is the second largest market for
coatings taking 27 percent of the global
volume in 2012. Consumption in 2012
was hurt by the region’s economic crisis.
North America was an outlet for one-fifth
of the global coating volume and has mature growth prospects. The South and
Central America region was eight percent
of the global demand in 2012. Growth in
the region slowed in 2012 but is forecast
to grow modestly in the future.
The above information will be part of
Kusumgar, Nerlfi & Growney’s current
multiclient study, Global Paint & Coatings, 2013-2018. The study is available
through subscription. Interested parties
are invited to contact the company by
calling 201-773-0785 or by email at nerl-fikng@cs.com.
US automotive coatings
market to grow at 2.7percent
till 2017
Revenue within the US automotive coatings manufacturing market has been forecast to grow at a compound annual
growth rate (CAGR) of 2.7percent over
the next five years, to reach a total market value of $1.5 billion in 2017, according to new research published by
Companiesandmarkets.com.
Over the five years to 2012 the industry
didn’t have the best of times, with revenue
falling at a CAGR of 0.7 percent, however
this is expected to turn around in 2012 with
a predicted CAGR of 3. 5 percent to help
bump the market up to $1.3 billion.
The recession has had a big impact on
the US automotive coatings manufacturing industry, with consumers tending to
stay clear of nonessential vehicle alterations and new vehicle purchases, hurting
demand for automotive coatings.
Things took a turn for the worse in
2009 though, as US vehicle sales fell to
historic lows and motor vehicle manufacturing revenue plummeted at an alarming
rate of 36. 5 percent.
However, the industry looks to have
turned their fortunes around with demand
being encouraged by several new styles of
automobile coatings, including coatings
with ultraviolet light-cured finishes and
coatings that incorporate nanotechnology.
Water-based coatings are the future of
the US automotive coatings manufacturing market and are expected to boost demand for coating customization, given
their ease of use and lower potential cost
once the technology is widely adopted.
GIA says growth in end-use
markets drives the pigments
dyes industry
The market for pigments and dyes responds to the coloring needs of a wide
range of end-use industries, ranging from
paints and coatings to construction. With
robust demand in key markets of paints
and coatings, plastics, paper and printing
inks, the pigments market is forecast to
register steady growth in the coming
years, according to a new report titled,
“Pigments and Dyes: A Global Strategic
Business Report,” published by Global Industry Analysts Inc.
Aided by a choice for brighter aesthetics and higher pigment concentration, the
pigments industry is expected to propel
ahead at a steady rate. The industry is witnessing a fundamental shift in the form of
greater preference for high performance
metal-based inorganic pigments, and
away from solvent-based raw materials.
The dyes market, meanwhile, largely depends upon the fortunes of its principal
end-user, Textiles, which account for
about 70 percent of the total demand.
After a brief decline in volume and values, in 2008 and 2009, which was a result
of the global economic downturn, the future for global pigments and dyes market
appears to be bright. Global market for
pigments and dyes began to show signs of
recovery in 2009 and registered positive
growth in 2010, albeit by a small margin.
The market, however, is expected to post
significant growth in terms of volume as
well as value in the coming years. Surge in
the coming years would be fueled by
growth in the paints, inks, coatings, and
construction industries. Growing demand
for high quality value-added pigments is
one of the key factors expected to result
in a spurt in growth. Further, the market,
although mature, would also receive a
boost as companies increasingly feel the
need to evolve and design their products
in sync with changing requirements for
new and emerging technologies. Higher
rates of capacity utilization are expected
to further drive prices upwards. Mounting energy costs would also considerably
impact global pigments consumption.
Asia-Pacific represents the largest and
the fastest growing regional market for pigments and dyes worldwide, as stated by the
new market research report. A key trend
witnessed in the recent past is the migration of manufacturing capacity from the
West to low-cost countries in the Asia-Pacific region, driven mainly by stringent environmental compliance issues. China will
continue to be the single largest and fastest
growing market. Over the years, China has
