According to market research firm, the Freedonia Group, solvent-based coatings are projected to be surpassed by water-based coatings by 2020 as regulatory concerns continue to impact the protective and specialty market. The report noted that solvents will continue to lose share to other formulations, with trends favoring the use of water-based, high-solids and other coatings, which have lower or no VOC emissions. Freedonia researchers predict demand for water-based coatings in the protective and specialty segments to expand at an annual rate of 2.5 percent to 85 million gallons in 2020, supplanting solventborne coatings as the market leader.
Coatings World interviewed some of the top players in the industrial coatings market – AkzoNobel, Axalta, Hempel, PPG and Sherwin-Williams. Their experts offer insight into this complex market and share what segments offer the most potential for growth.
Be sure to go to our website, www.coatingsworld.com, for additional reporting on the industrial coatings market, including the latest product launches and manufacturers plans for future growth.
Our Latin America correspondent, Charles Thurston, takes a critical look at this important region in his annual Latin America Report.
According to the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC): “While in South America private consumption and investment dropped by 2.3 percent and 9.9 percent, respectively, in Central America private consumption expanded by 3.0 percent and investment by 1.9 percent. Some of these trends should improve in 2017, with stronger private consumption and investment.”
Thurston, reports that positive growth is projected in 2017 for South America, at 0.9 percent, and for the English-speaking Caribbean, at 1.3 percent.