Chem Research03.11.21
On an annual basis, the Top 11 global paint and coating producers experienced a sales turnover decline greater than -6% (Euro value) compared to 2019. Companies offering decorative paints performed better in terms of sales and earnings than companies with a focus on industrial coatings.
The market research company CHEM Research has issued an executive report on the development of the global coatings market in 2020 with a projection for 2021.
In 2020 the global market for paints and coatings recorded a decline of nearly -6% in Euro value, while the collective sales of the Top 11 companies show a slightly stronger decrease.
To some extent the stabilizing effect of the sustained demand for decorative paints compensated for the dramatic volume losses in the industrial coating segment.
The divergent growth of the decorative paint and industrial coating demand led to a shift in market shares and portfolio compositions. In terms of sales, the decorative paints expanded their share by about +3% in 2020 compared to 2019 at the expense of industrial coatings. This development shows a continuing trend over the past 3 years during which the industrial coatings market experienced a steady contraction.
