Waterborne growth: new Ceresana study on the global market for paints and coatings

KONSTANZ, Germany - Feb. 20, 2024 - PRLog -- In 2020, global demand for paints and coatings fell to a total of 41.8 million tonnes, mainly due to the slump in the automotive industry. This was followed by a strong countermovement. Growth has now leveled out again at lower figures: Around 44.5 million tonnes of paints and coatings were sold worldwide in 2022. Ceresana forecasts that demand will increase by around 3.1% per year until 2032.

Sustainable waterborne coatings

Powder coatings are currently experiencing particularly dynamic growth, although they still form a small market segment. Ceresana's market researchers expect the greatest growth for waterborne paints and coatings, which continue to gain market share compared to products containing solvents. The consumption of paints and coatings based on plastics such as acrylic, vinyl, alkyd, epoxy, polyurethane or polyester continues to rise. However, biobased paints are also increasingly being used, especially as they can easily be combined with biobased insulating materials, biobased adhesives and other sustainable building materials.

Construction industry is the main customer

Most paints and coatings are consumed in the Asia-Pacific region. In terms of application areas, wood processing and the construction industry are experiencing the greatest growth. The construction sector accounts for almost half of all paints and coatings sold worldwide. Acrylic resin-based paints in particular are used as wall and façade paints. For exterior facades, acrylic paints are often used in combination with water-repellent silicone resins. Biobased paints and coatings, which are made entirely or at least partially from renewable raw materials or minerals, can be an alternative to synthetic resins, particularly for interiors. These ecological coatings promise to be less toxic and more environmentally friendly than petrochemical products based purely on crude oil or natural gas.

Current market study "Paints and Coatings – World" (6th edition):

Chapter 1 comprehensively analyzes the global market for paints and coatings. Forecasts up to 2023 are provided. The development of revenues, demand, and production of paints and coatings is outlined for each world region. The market data is broken down for eight application areas: Construction, Industry (Coil coatings, other industry products), Transportation (OEM coatings, refinish, marine paints), Wood processing, other application areas. Demand is analyzed for the individual product types: Acrylics, Vinyls, Alkyd, Epoxy, Polyurethane, Polyester, other polymers, other products. A differentiation is further made according to technology: Waterborne, Solvent-borne, Powder coatings, other paints and coatings. Chapter 2 analyzes the 16 most important countries for the paint market in detail.
Chapter 3 provides a useful directory of the 106 most important manufacturers of paints and coatings.
Further information: https://ceresana.com/en/produkt/paints-coatings-market-re...