In the first corona year of 2020, demand had plummeted most drastically in the areas automotive and other industrial products, falling to a total amount of 41.8 million tonnes. However, the construction industry and private craftsmen remained steadfast customers. Ceresana has now analyzed the world market for paints and coatings for the fifth time. The current market report forecasts a continuous recovery: Until 2030, the demand for coatings will grow at a rate of approximately 2,3% per year. The highest amount of paints and coatings will be utilized in the region Asia-Pacific. This particular region will expand its leading position on the world market in the years to come.
Innovations for the construction industry
Nearly half of the demand for paints and coatings is utilized by the construction industry. In many countries the demand in the areas infrastructure, commercial and residential construction is rising. Acrylic paints are mainly used in the aforementioned areas: coatings based on acrylic resins are used as breathable and light and weather resistant wall or façade paints. For outdoor applications, the paints are combined with water-repellent silicone resins. In addition to conventional façade paints, the construction industry increasingly requires innovative coatings with special properties. Examples of this are self-cleaning coatings with lotus effect, heat-insulating coatings or paints and coatings with antibacterial properties für medical facilities.
Rising demand for water-based coatings
Ceresana’s market study on paints analyzes the demand for individual product types: coats and paints based on acrylics, vinyls, alkyd, epoxy, poylester and polyurethane as well as paints and coatings based on other products. Powder coatings make up for only a small segment of this market, the largest share of demand is accounted for by water- and solvent-borne products. Thanks to the reduced emissions of volatile organic compounds (VOC), waterborne coatings are comparatively eco-friendly. When used in some applications they can also be recycled. Waterborne coatings are used for machine and automotive coatings, but also for wood coatings, plastic covers, and leather and textile coatings. In the coming years, Ceresana’s analysts expect the highest growth for waterborne paints and coatings.
Industrial analysis of paints and coatings: https://www.ceresana.com/en/market-studies/industry/paints-coatings-world/