2008 Will the Good Times Keep Coating

By Cynthia Challener

The global paint and coatings market grew by 5.7% in 2006 to reach a value of $71.7 billion, according to a recent report by Datamonitor (Paints & Coatings: Global Industry Guide, August 2007). Global volume increased by 3.5% in 2006 to total 29.4 million tonnes. By 2011, Datamonitor predicts that the value of the global paint and coatings market will climb to $92.5 billion (29% increase), while the worldwide volume of sales will total 35.5 million tonnes (20.9% growth). Decorative paints generated the most in­come in 2006 at 45.9% of the market’s value.

On a regional basis, the Americas contributed the largest percentage of value (37.7%). In the U.S., the paint and coatings market was valued at $21 billion in 2006 by The ChemQuest Group, Inc., with architectural coatings accounting for 48% of the total value, followed by product OEM coatings at 32% and special purpose coatings at 20%. All three segments experienced strong growth during 2006 as the coatings industry increased in value by 8.4% and in volume by 2.2% versus 2005.