Attractive and useful: Ceresana report on the world market for paints and coatings

KONSTANZ, Germany - March 22, 2021 - PRLog -- Large-scale projects for infrastructure or commercial construction are hardly ever directly affected by crises, and the demand for living space continues to grow in densely populated countries. The sales of paints and coatings for industrial products such as vehicles, on the other hand, are heavily dependent on the general economic development. This is the fourth time that Ceresana has published a study on the world market for paints and coatings. In 2019, a total of around 43.3 million tonnes of coatings were sold.

Innovative Products with Multiple Benefits

In addition to simple, traditional interior and facade paints, more and more coatings with special properties are used in the construction industry. Facade coatings that use the lotus effect, for example, clean themselves in the rain. Other products not only beautify surfaces but can also protect them from rust or contribute to thermal insulation. In hospitals and medical practices, paints and coatings with antibacterial properties are increasingly used to limit the spreading of dangerous germs.

Acrylics for the Walls of China

Most paints and coatings are consumed in the Asia-Pacific region. This part of the world is expected to further expand its leading position on the world market in the coming years. The second largest sales region last year was North America. Ceresana has also analyzed the demand for individual product types for the current market report: from paints and coatings based on acrylic, vinyl, alkyd, epoxy, polyurethane, or polyester to paints and coatings based on other materials. Acrylic colors were by far the most widely used type of paint in 2019. Vinyl paints took second place. The demand for acrylic paints was highest in Asia-Pacific and North America, followed by Western Europe and South America.

Growing Demand for Water-Based Coatings

Powder coatings only account for a small segment of the market for paints and coatings while water- and solvent-borne products generate the largest share of demand. Water-based coatings are relatively environmentally friendly thanks to reduced emissions of volatile organic compounds (VOC). They also offer the possibility of recycling in some applications. Waterborne coatings are used for machine and automotive coatings, but also for coatings of wood, plastic, as well as leather and textile. Analysts at Ceresana expect waterborne paints and coatings to achieve the highest average growth rate in the coming years.

Further information: https://www.ceresana.com/en/market-studies/industry/paint...