Powder coatings demand is expected to increase by approximately 4.5% annually, while industrial coil coating ranks among the fastest-growing application areas in Ceresana’s latest global paints and coatings market study.
Market research company Ceresana has published the 7th edition of its global paints and coatings market study, forecasting average annual demand growth of approximately 2.9% through 2035. Worldwide sales currently total around 48 million tonnes per year, approximately 6 million tonnes more than at the beginning of the decade.
Industrial coil coating and construction are the application areas recording the strongest growth. Across coating technologies, powder coatings lead the forecast, with demand expected to rise by around 4.5% annually.
The study also anticipates continued growth for waterborne paints and coatings. These products are used across a range of industrial applications, including machinery, automotive components, wood, plastics, leather and textiles. Their low emissions of volatile organic compounds support their appeal, although application can be more demanding than with solventborne alternatives.
Demand for coatings based on conventional synthetic resins continues to increase. These include acrylic, vinyl, alkyd, epoxy, polyurethane and polyester systems. Meanwhile, bio-based alternatives are becoming increasingly competitive in terms of price and performance, including in demanding applications.
Construction remains the largest end-use sector, accounting for nearly half of global paints and coatings sales. Despite difficulties in residential construction in many countries, infrastructure projects and commercial building activity continue to support consumption. Asia-Pacific represents approximately 46% of the global market.
Ceresana’s study examines revenues, production and demand across world regions, with forecasts through 2035. It covers eight application areas across construction, industry, transportation, wood processing and other uses. Industrial and transportation segments include coil coating, automotive OEM, and marine coatings.
Demand is further segmented by binder type and technology, distinguishing between waterborne, solventborne, powder and other coatings. Detailed analyses of 16 key national markets cover production, consumption, imports, exports and revenues, with demand broken down by application, product type and technology.