The development status and prospect analysis of the global coatings market in 2020

The global coatings market as a whole maintains steady growth

According to the data of World Paint and Coatings Industry Association (WPCIA), except for 2015, the overall trend of the global coatings market from 2012 to 2019 shows signs of glowing. In 2019, the global coatings market sales were US $ 172.8 billion, a year-on-year increase of 4.8%.

In 2019, the growth of the global paint demand market is mainly due to the growth of investment in the construction industry, the development of the automotive industry, the increase in the urban population and the improvement of the global economy.

The coating market share in Asia Pacific region increased further

From the perspective of the regional market, the Asia-Pacific region is the world's largest market for coatings, followed by Europe, North America, the Middle East and Africa, and South America.

The manufacturing industry in the Asia-Pacific region is huge and has comparative advantages in terms of labor and raw materials. Large-scale coating manufacturers have invested in and set up factories in the Asia-Pacific region. At the same time, the market demand for downstream coating construction and automotive industries has grown strongly. In 2019, the coatings market in the Asia-Pacific region accounted for 57% of the global market, an increase of 7% compared to 2018, while the combined market share in Europe and North America fell to 36%.

China is the major consumer market for coating in the Asia-Pacific region, accounting for about two-thirds of the region's consumption.

Architectural coatings still perform strongly

In terms of product areas, architectural coatings performance remains strong in 2019, accounting for 53% of the global market share. Its development is mainly due to the development of a variety of innovative process technologies, such as the application of low-VOC coatings and nano-coatings, which has significantly promoted consumption demand.

The other two big coating fields are industrial coatings and special coatings. The increasing demand for anti-corrosion of global machinery and industrial facilities has contributed to the increase in the application of global industrial coatings. In 2019, global industrial coatings accounted for about 29% of the global coatings market share. In terms of market types, the global coatings market in 2019 includes: AQ (Aqueous) coating, solvent-based coatings, powder coatings and other coatings. In these fields, AQ (Aqueous) coating market has the largest share in the global coatings manufacturing market, reaching more than 40%.

The market share of the top ten companies decline

According to WPCIA data, in 2019, the top ten coating companies in global coating sales were: Sherwin-Williams, ($17.95 billion), PPG ($15.82 billion), AkzoNobel ($10.52 billion), Nippon Paints ($5.944 billion), PRM ($5.564billion), Diamond Paints ($4.588 billion), Axalta ($4.303 billion), BASF ($4.022 billion), KANSAI Paint ($3.856 billion), Asian Paints ($2.624 billion).

In 2019, the top ten companies accounted for 43.9% of the global coatings market share, 1.4% lower than that of 2018.

CGFF Expo: A Platform to Increase Your Business

To help you expand your business and stay in touch with the latest information in China, we are providing you with the 10th Asia-Pacific Floor Fair (CGFF 2020) expo, a platform to let you showcase your quality products to buyers across China!

For more information about the show, please don’t hesitate to contact us!

The 10th Asia-Pacific Floor Fair (CGFF 2020)

Date:August 11th-13th, 2020

Venue: China Import & Export Fair Complex (Area A)