According to the consulting firm of Kusumgar, Nerlfi & Growney, Elmwood Park, NJ/USA, global coating consumption is forecast to be off sharply in 2009 owing to the effects of the financial crisis and resulting worldwide recession.
According to the consulting, Kusumgar, Nerlfi & Growney (KNG), Elmwood Park, NJ/USA, global coating consumption is forecast to be off sharply in 2009 owing to the effects of the financial crisis and resulting worldwide recession. In its new report, "Global Paint & Coatings," KNG says consumption in 2009 is a projected 58.7 billion pounds valued at $88.4 billion. Volume is off six percent from the prior year and dollar value is down eight percent. Recovery of the global economy will give coating consumption an average annual increase of five percent in volume through 2014. In 2014 coating poundage is forecast to be up 30% over 2009 and dollar value up 26%. However, when compared to the prerecession year of 2008, poundage in 2014 is projected to be up 21% and dollar value 15%.
Architectural coatings are the largest coating segment with 57% of the global volume in 2009 and 40% of the value. Architectural coating volume is off five percent compared to 2008 and a six percent per year rate of growth is projected through 2014. Original equipment manufacturers (OEM) coatings are 28% of the 2009 poundage; volume is down ten percent over 2008 and dollar value down 13%. A six percent per year rate of growth is forecast through 2014 when OEM volume is projected to be up 31% over 2009, but only 17% when compared to 2008. Transportation applications had the sharpest declines in 2009. Special purpose coatings are 15% of the pounds; volume is down a modest two percent compared to 2008. Marine coating growth continued in 2009, but there are significant obstacles to future growth for these coatings. Special purpose coatings are forecast to grow four percent per year through 2014.
For more information contact Kusumgar, Nerlfi & Growney at 201-773-0785 or by email at email@example.com.