The global consumption of coatings in 2012 is projected to come in at 67 billion lbs, worth $120 billion, according to “Global Paint & Coatings, 2013-2018,” an upcoming study by Kusumgar, Nerlfi & Growney. Volume has reportedly bounced back from the recession year of 2009 with the Asia-Pacific region leading the way. However, growth in 2012 slowed due to global and local economic uncertainties. Coating volume in 2012 is up 15% since the 2009 global recession, but value is up by about one-third largely due to the escalation in raw material prices.
The Asia-Pacific region is the largest consumer of coatings, taking 42% of the volume in 2012. China accounts for over one-half of the region’s consumption, with growth now moderating from the rapid expansion of the past. India is now about 15% of the regional volume and continues to increase its share.