The global coatings market will exceed $100 billion in 5 years

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The global coatings market will exceed $100 billion in five years 2007-12-11 China Chemical Information Network According to a new technology market research report by BCC, the global coatings market was valued at $91.2 billion in 2007, and this figure is expected to rise to $102.8 billion by 2012, with an average annual growth rate of 2.4%. In the coatings market, construction and decorative coatings hold the largest share; their market value was nearly $41 billion in 2007, and it is expected to rise to $44.4 billion by 2012, with an annual growth rate of 1.5%. Industrial coatings hold the second-largest market share; their market value was nearly 34 billion dollars in 2007, and it is expected to reach nearly 40 billion dollars by 2012, with an annual growth rate of 3.2%. The market value of special-purpose coatings in 2007 was approximately 16 billion dollars, and it is expected to rise to 18.7 billion dollars over the next 5 years, with an annual growth rate of 3.0%. Over the past five years, the growth in market demand has primarily come from developing countries, particularly China, Thailand, Indonesia, India, as well as Russia, Hungary, and the Baltic States**. The report’s analysis suggests that the increase in disposable income has driven up demand for high-end housing construction, which in turn has led to an increase in demand for paints as well as industrial coatings used in products such as cars and electrical appliances.