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March 20, 2020
By: Anthony Locicero
Copy Editor, New York Post
According to a new study by the consulting firm Kusumgar, Nerlfi & Growney, global consumption of paint & coatings was 44.4 million tons (98 billion pounds) in 2019 worth $132 billion. Volume is up 66% since the 2009 global recession with 62% of the increase coming from the Asia-Pacific region. Coating volume has grown modestly in recent years but slowed in 2019. Owing to the economic effects of the coronavirus little to no growth is currently expected for this year with some end uses declining significantly. Recovery is anticipated for next year with long term growth placed at 4% per year. Architectural paint consumption was 26 million tons worth $53 billion in 2019 and industrial coatings 18.4 million tons valued at $79 billion. Architectural paint volume is up 72% since 2009 and industrial coating volume 59%. A 4% annual rate of growth is forecast for both segments through 2024. Water-based technology comprised 56% of the global coating volume in 2019 with architectural paints 85% of the total and industrial coatings the remainder. A decade ago water-based technology was one-half of the volume with the architectural segment 88% of the total. Solvent-based technology was 37% of the coating volume in 2019 with 71% used in industrial applications and the rest architectural. Global architectural paint volume in 2019 was split 81/19 between water-based and solvent-based technologies, respectively. Powder coating volume has almost doubled since 2009 and comprised 7% of the industrial coating volume in 2019. Radcure coating volume grew by 80% over the last 10 years. The top five suppliers of coatings ranked by size in 2019 are PPG, Sherwin-Williams, AkzoNobel, Nippon Paint and Axalta. Our ranking excludes any additional value from paint store sales and any auxiliary products such as construction products, adhesives, sealants, applicators, etc. The top five suppliers garnered 35% of the sales in 2019. The top 25 captured 55% of the dollars. The top five suppliers of only architectural paints ranked by size are similar to that above except Asian Paints replaces Axalta in the fifth position. These companies took 38% of the dollars in 2019. The 25 leading suppliers of architectural paints hold 59% of the sales. In the industrial coating segment, the top five suppliers ranked by sales dollars are PPG, AkzoNobel, Sherwin-Williams, Axalta and Nippon Paint. These companies took 36% of industrial paint sales. The top 25 suppliers captured 56% of the dollars.
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