The global coatings market is predicted to reach 8.7 billion gal by 2017.
According to “Coatings: A Global Strategic Business Report,” a new report by Global Industry Analysts Inc., the global coatings market is expected to reach 8.7 billion gal and $107 billion by 2017. Major factors driving growth in the market include the recovery of global economies from the recent economic turmoil, rapid industrialization, and increasing demand from end-use sectors such as automotive and construction. In addition, growth in the global market will be spurred by increasingly stringent regulations, rising competition, growth in unique formulations, and technological and product developments.