The global paint market grows steadily, and Asia-Pacific is the largest market

In 2019, the global coatings market sales were US $ 172.8 billion, a year-on-year increase of 4.8%. The growth of the global paint demand market is mainly due to the growth of investment in the construction industry, the development of the automotive industry, the increase in the urban population and the improvement of the global economy. From the perspective of regional markets, the Asia-Pacific region is the world's largest sales market for coatings, followed by Europe, North America, the Middle East and Africa, and South America.

The manufacturing industry in the Asia-Pacific region is large and has comparative advantages in terms of labor and raw materials. Large-scale paint manufacturers have invested in the construction of factories in the Asia-Pacific region. At the same time, the market demand for paint downstream construction and automotive industries has grown strongly. In 2019, the coatings sales market in the Asia-Pacific region accounted for 57% of the global market, up 7 percentage points from 2018, while the combined market share in Europe and North America fell to 36%. China is the major paint consumer market in the Asia-Pacific region, accounting for about two-thirds of the region's consumption.

According to data from the World Paint and Coatings Industry Association (WPCIA), except for 2015, the overall growth trend of the global coatings market from 2012 to 2019. Architectural coatings are still performing strongly. In 2019, architectural coatings performance is still strong, accounting for 53% of the global market share. Its development is mainly due to the development of a variety of innovative preparation process technologies, such as the application of low-VOC coatings and nano coatings. Consumer demand. The other two major coating areas are industrial coatings and special coatings. The increasing demand for anticorrosion in global machinery and industrial facilities has contributed to the increase in the application of industrial coatings worldwide. In 2019, global industrial coatings accounted for approximately 29% of the global coatings market share. In terms of market types, the global coatings market in 2019 includes: water-based coatings, solvent-based coatings, powder coatings and other coatings. In these fields, the water-based coatings market has the largest share in the global coatings manufacturing market, reaching more than 40%.

According to WPCIA data, in 2019, the top ten paint companies in global paint sales were: Xuanwei (US $ 17.95 billion), PPG (US $ 15.82 billion), Akzo Nobel (US $ 10.52 billion), and Japan Paint (US $ 5.944 billion) , PRM (US $ 5.564 billion), Diamond Coatings (US $ 4.588 billion), Axalta (US $ 4.303 billion), BASF (US $ 4.022 billion), Kansai Coatings (US $ 3.856 billion), Asian Coatings (US $ 2.624 billion). In 2019, the top ten companies accounted for 43.9% of the global coatings market share, down 1.4% from 2018 market share.