03.19.18
Coatings World: How did the market for paint and coatings fare overall in 2017?
Henrik Andersen: Like we expected at the beginning of last year, the global coatings market remained challenged throughout 2017 and we did not see growth pick up as quickly as expected. This impacted of course our segments and regions. In the marine industry we were faced with hard market conditions like the rest of the market, due to a further decrease in shipbuilding activities, especially in China and Korea. We experience a tendency of steady slow growth in the global market for protective with increasing investment in the energy sector as well as in infrastructure. The oil and gas industry has been affected by low oil prices. Generally, we experienced growth from our large Europe & Africa region, our two regions in the Middle East as well as South America.
With the raw material cost increases of 2016 continued into 2017, we announced price increases of certain products. Raw materials constitute a major part of the cost of manufacturing coatings for the protective, marine and decorative industries – and, while Hempel doe
Henrik Andersen: Like we expected at the beginning of last year, the global coatings market remained challenged throughout 2017 and we did not see growth pick up as quickly as expected. This impacted of course our segments and regions. In the marine industry we were faced with hard market conditions like the rest of the market, due to a further decrease in shipbuilding activities, especially in China and Korea. We experience a tendency of steady slow growth in the global market for protective with increasing investment in the energy sector as well as in infrastructure. The oil and gas industry has been affected by low oil prices. Generally, we experienced growth from our large Europe & Africa region, our two regions in the Middle East as well as South America.
With the raw material cost increases of 2016 continued into 2017, we announced price increases of certain products. Raw materials constitute a major part of the cost of manufacturing coatings for the protective, marine and decorative industries – and, while Hempel doe
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