Paint and coatings industry is going through a phase of acquisitions, with market share shifting from large US and Europe based manufacturers to those based in Asian countries including Japan, Korea, China and India. Asia and Eastern Europe markets are showing growth potential for industrial coatings. North America is the leading country in global coating industry. China is the largest consumer of coating additives in Asia, approximately one third of the market. India’s market is dominated by the decorative paint and coatings segment.
Growth in the marine coatings market can be attributed to a surge in new building in the Asia-Pacific region, as well as high demand for exported goods from the region. The automotive coatings market is growing on the back of increasing new car sales in Europe and growth in car manufacturing in China.
One of the major challenges facing the industrial coatings industry is the unprecedented escalation in the price of oil, natural gas and raw materials, which is having a significant impact on the marine coating industry.
The report analyzes worldwide coatings market with an overview of the major markets and market segments. It also focuses on major factors driving growth and key issues affecting the market. It discusses the current industry trends. The report also profiles the major competitors in the market and outlook of the paint and coating industry.