Douglas Bohn, Orr & Boss Consulting Incorporated08.09.19
Asia Pacific is the world’s largest coatings market and has been growing at above-market rates for many years now and thus it can be considered the most important coatings market in the world. Asia Pacific comprises a vast region of the world with some of the world’s largest and most dynamic economies including China, India, Japan, South Korea, Indonesia, Australia and other countries. Not only is it the largest market globally but it continues to outperform the global coatings market.
In 2018, Orr & Boss estimated that the size of the Asian Pacific coatings market was USD $68.4 billion and 22.7 billion liters. This compares to the global coatings market which Orr & Boss estimated to be USD$151 billion and 42 billion liters. The Asia Pacific coatings market grew by 6.6% in value and 3.4% in volume terms in 2018. The growth rate has slowed down in recent years mainly as a result of the Chinese economy slowing. However, the growth rates are still higher than the global coatings industry average growth rates of 5.4% value and 2.8% volume in 2018. The key drivers of growth are similar to that in other regions of the w
In 2018, Orr & Boss estimated that the size of the Asian Pacific coatings market was USD $68.4 billion and 22.7 billion liters. This compares to the global coatings market which Orr & Boss estimated to be USD$151 billion and 42 billion liters. The Asia Pacific coatings market grew by 6.6% in value and 3.4% in volume terms in 2018. The growth rate has slowed down in recent years mainly as a result of the Chinese economy slowing. However, the growth rates are still higher than the global coatings industry average growth rates of 5.4% value and 2.8% volume in 2018. The key drivers of growth are similar to that in other regions of the w
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