2019 global coatings market: steady growth, strong architectural coatings

The global coatings market sales in 2019 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 growth of the urban population and the improvement of the global economy.

Asia Pacific has the largest market
From a regional market perspective, the Asia-Pacific region is the world's largest paint sales market, followed by Europe, North America, the Middle East and Africa, and South America.

The manufacturing industry in the Asia-Pacific region is huge and has a comparative advantage in terms of labor and raw materials. Large paint manufacturers have invested in the construction of factories in the Asia-Pacific region. At the same time, the market demand for downstream coatings and the automotive industry has grown strongly.

In 2019, the paint 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 of 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.

Strong growth in architectural coatings
According to data from the World Paint and Coatings Industry Association (WPCIA), in addition to 2015, the overall growth trend of the global coatings market from 2012 to 2019, architectural coatings performance remains strong. In 2019, the performance of architectural coatings is still strong, accounting for 53% of the global market share.

Its development is mainly due to the development of various innovative preparation technology, such as the application of low VOC coatings and nano coatings.

The other two major coating areas are industrial coatings and specialty coatings. The increasing demand for corrosion protection in global machinery and industrial facilities has contributed to the increase in industrial coating applications 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 waterborne coatings market has the largest share in the global coatings manufacturing market, reaching more than 40%.