Industrial Painting Market Continues Strong Growth
Painting And Coating Market Growth
The painting and coating market is strong at the time of the release of this article, September 27th, 2014. There's a number of different companies out there that track market data and research analysis. One of the most reputable sources of such facts are Freedonia. Freedonia does research on the paint and coat market. According to the company, the world paint and coat market will witness yearly growth of more than 5%, reaching almost 46 metric tons in 2015. During this time, the industry is expected to be worth $142 billion.
Most of the expected growth in paint and coatings will be a direct effect of the global growing construction sector, in all three major areas, including industrial painting and coating. Both North American and Western Europe saw big losses in construction, ever since the downfall of housing. Today, all markets have seen growth, remain strong and show strong indicators for future growth. While the North American market rebuilds, Asian and Pacific markets have a strong outlook for the next few years.
As industrial painting developers continue to improve "green products," paint manufacturers are trying reduce the VOC content of their products. Environmental regulations have effected the painting and coating markets, but no where near other industries such as coal. We're starting to see more companies offer water-based paints and powder coating products. With a good future outlook, power coatings and water-based paints will gain market share at the expense of solvent-based coatings. It's only expected to affect countries with stiff VOC regulations. Countries that have little or no VOC regulations will see a slower trend toward water-based coatings than more developed countries of the world. Many markets will continue to be dominated by solvent-based formulations for the foreseeable future, including marine coatings, automotive refinishes, and corrosion protection coatings.
Industrial Painting Market Remains Strong
No other paint and coat market may be stronger then that of the industrial sector. According to Koncept Analytics, the architectural coating segment dominates the world paint and coatings market. Apart from the construction and automotive sectors, other end-use industries relying on the paints and coatings sector that include marine, steel and wood. We are also seeing the market switch to green paint and coating solutions, something to pay attention to moving ahead.
Industrial painting contractors offer a variety of different services and products to a huge marketplace. The industrial painting sector has a wide range market. From food and dairy processing to power and energy, a large percentage of the industrial sector requires industrial painting and coating services for their business. The rise in growth in 2014 and a positive outlook for 2015 is great news
Automotive Paint Growth Leads North America
While we expect the entire industrial painting sector to grow in 2015 and even beyond, no other market niche has a stronger outlook then the automotive paint sector. North America is expected to become the 2nd largest vehicle producer in the world. The market for eco-friendly coatings such as waterborne and powder coating is expected to grow at a promising rate for the next five years. This is one of the main reasons many industrial painting companies are now using elastomeric painting.
Just like we're seeing in the industrial painting sector as a whole, the automobile painting industry is also thinking green. As the EPA and other agencies do everything in their power to reduce emissions, the auto paint industry is evolving with much safer, eco-friendly paints. While we know the industrial paint and coat sector is good until beyond 2015, we expect the automotive paint and coat sectors to grow up into 2018 and likely beyond.
World Paint And Coatings Market
While the North American market for growth in paint and coatings is expected, we can also expect global growth in world paint and coatings markets. According to Market Watch, we can expect global demand for paint and coatings is forecast to rise 5.2 percent per year to 51.6 million metric tons in 2017, which would be valued at $186 billion. Growth is expected to be driven by a strong rebound in global building construction spending, particularly in North America, Europe, and Japan, fueling increased demand for architectural paint.
Manufacturing and specialty coatings demand is expected to also grow, even at a more rapid pace compared to past historical trends. This is due to an improved outlook in overall industrial output and higher motor vehicle production. Modest gains will be limited though due to a higher increased usage of high quality coatings.
Asian and Pacific regions are expected to top the global coatings market and will continue to be the largest and fastest growing coatings market through 2017. This will eventually lead the Asia/Pacific region to make up half of the global demand in the coatings market. Gains will be likely led by continued growth in China, which is the world's largest coatings market, While demand is expected to be no where near the recent decade, this region will still lead global markets.
Fast growth can be expected in India, Thailand, Vietnam and Indonesia. Other areas that are expected to see growth is expected in the Africa/ Mideast region, These areas have the lowest paint demand per capita in the world.
