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World Paint and Coatings Demand to Reach 28.8 Million Metric Tons in 2007

Published on 2004-04-06. Author : SpecialChem


World demand for paints and coatings is forecast to rise 3.5 percent per year through 2007 to 28.8 million metric tons. In value terms, production gains over the same period are projected at 5.0 percent per year to over $83 billion, with average prices rising due to stronger prospects for higher quality, environmentally friendlier products such as powder-based and rad-cure coatings.

Volume gains in global paints and coatings demand will register a marked improvement over the 1997-2002 period due to a healthy and sustained expansion in GDP and fixed investment. Rapid growth in the world' s urban population will also continue to put a strain on the existing housing stock, prompting spending at both the public and private levels. These and other trends are presented in World Paints & Coatings, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.

The most rapid gains will arise in the world' s emerging markets, most prominently the Asia/Pacific region (excluding Japan), although Latin America and Eastern Europe are also forecast to experience growth significantly above the global average. Gains in Asia are based primarily on continued expansion in the Chinese market, already the largest in Asia after overtaking Japan in the early part of the new century. India, South Korea and Taiwan also hold strong prospects, particularly in construction-related markets.

Growth in demand for paints and coatings in North America and Western Europe will continue to lag the global average, although these two regions will still account for almost half the global market in 2007 despite being home to less than 13 percent of the world' s population. Demand is forecast to expand 2.7 percent per year through 2007 in North America, with slower gains in the US and Canada being offset to a certain extent by healthy demand from Mexico' s emerging paint market. The West European market for paints and coatings is projected to increase only 2.3 percent per year through 2007, although this will still mark an improvement over the performance of the 1997-2002 period.

WORLD PAINTS & COATINGS DEMAND

(000 metric tons)

Percent Annual

Growth

Item 1997 2002 2007 02/97 07/02
World Paints & Coatings

Demand

22110 24300 28800 1.9 3.5
North America 6650 7120 8150 1.4 2.7
Western Europe 4990 5380 6030 1.5 2.3
China 1590 2090 2850 5.6 6.4
Japan 2020 1915 2050 - 1.1 1.4
Other

Asia/Pacific

2710 3140 4000 3.0 5.0
Other Regions 4150 4655 5720 2.3 4.2


World Paints & Coatings (published 03/2004, 424 pages) is available for $5,200 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143- 2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail pr@freedoniagroup.com.


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