Doug Bohn, Orr and Boss01.08.18
The global coatings industry experienced good growth in 2017 with decorative coatings leading the way in terms of global growth. Automotive and industrial coatings also experienced good growth too but not quite as high as that of decorative coatings segment. In general, we expect growth to continue in 2018; although at a slightly slower pace than in 2017.
Coatings Market Growth Rates
The global coatings market grew at an estimated rate of 4.2% in volume terms and 5.0% in value terms from 2016. We are predicting the growth in 2018 to be solid again although not quite as high as that in 2017 with a 3% volume growth and 4.4% value growth. The 2017 growth values were slightly higher than global GDP growth of 3.7%. The main driver of the slightly faster than GDP growth rates is that construction activity growth is higher than GDP growth in many regions of the world. Also, Asia comprises 45% of the value of the global coatings market.
Coatings Market Growth Rates
The global coatings market grew at an estimated rate of 4.2% in volume terms and 5.0% in value terms from 2016. We are predicting the growth in 2018 to be solid again although not quite as high as that in 2017 with a 3% volume growth and 4.4% value growth. The 2017 growth values were slightly higher than global GDP growth of 3.7%. The main driver of the slightly faster than GDP growth rates is that construction activity growth is higher than GDP growth in many regions of the world. Also, Asia comprises 45% of the value of the global coatings market.
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