Protective Coatings Market to Grow at 9.75% through 2019
In 2013, the value of the global protective coatings market was estimated at over $10.59 billion, according to a report from MarketsandMarkets. In the same year, worldwide consumption of protective coatings stood at almost 4,254 KT. The APAC region was the leading consumer of protective coatings, accounting for more than 68.5% of the world’s total consumption volume in 2013. China was the top country in terms of protective coatings consumption.
The world protective coatings market is projected to grow at a 9.75% compounded annual growth rate between 2014 and 2019. Meanwhile, the global consumption of protective coatings is poised to register growth at a 9.52% CAGR in the next five years, and is expected to exceed 6,701 KT in 2019. Growth in the world protective coatings market is reportedly spurred mainly by the increasing demand from end-use areas such as the oil and gas, construction, aerospace, and automotive industries.
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