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KUSUMGAR, NERLFI & GROWNEY: Coating Additives Study

According to the consulting firm of Kusumgar, Nerlfi & Growney, Asia consumed 9.7 million metric tons (21 billion pounds) of coating in 2007 worth $28.7 billion. Volume is up 23% from just three years ago (2004) while dollar value has increased by 40%. Coating prices have risen only modestly in Asia, but the weakening U.S. dollar has given an additional boost to value. Some two-thirds of the tonnage increase is attributable to the sharp gains in China.

China is the largest user of coatings in Asia with 9.9 million tons worth $11.6 billion consumed in 2007. A robust 11% annual rate of growth is forecast. Japan holds second position with 14% of the tonnage, but 21% of the dollars as higher value coatings are consumed. Minimal growth is forecast for Japanese coatings. India is the third largest coating consumer in volume with a 12% share, and is fourth in sales value behind South Korea with a 10% share. Coating volume is expanding at a 12% yearly rate in India, which will shortly pass Japan in tonnage and South Korea in sales value. South Korea has a large industrial base, as is the case for Japan, and captures 12% of the Asian coating sales value.

Architectural is the largest coating segment with 4.7 million tons worth $10.2 billion consumed in Asia in 2007. China and India are the largest architectural coating outlets with two-thirds of the volume; both are growing at double digit rates. OEM (original equipment manufacturers) is the second largest segment with 3.1 million tons valued at $12 billion. China captures 43% of the money and is followed by Japan with a 27% share and South Korea with 13%. China also leads in the special purpose coating category with 38% of the $6.4 billion sales in 2007. Japan is next with a 22% share and is followed by Korea, which captured nearly 20%. Industrial maintenance and marine are the largest end uses in special purpose coatings.

The above information is based upon Kusumgar, Nerlfi & Growney’s current multiclient study, Asian Coating Additives. The 400-page study will be completed shortly and is available through subscription.

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