Germany: Market Study Construction Industry Is the Major Consumer of Paints and Coatings
Ceresana analyzed the global market for paints and coatings already for the third time: About 42 million tonnes were sold in 2017. Currently, almost half of all paints and coatings consumed in 2017 were utilized in the construction industry.
Constance/Germany — Paints and coatings are more and more often equipped with anti-bacterial properties when they are used in hospitals and doctor’s surgeries; they help to inhibit the spread of dangerous germs. For instance, some facade coatings use the lotus effect and clean themselves. Other coatings protect materials, for example, against rust or provide thermal insulation.
The construction market is mainly supported by the rising demand for living space in densely populated countries but also by major projects in infrastructure and commercial construction. In addition to traditional interior and house paints, the construction sector is increasingly processing innovative products that have various uses. In the case of paints and coatings for industrial products, such as vehicles, sales are strongly dependent on macroeconomic developments. Market researchers at Ceresana expect demand for paints and coatings in this segment to continue to increase in the upcoming eight years. The region Asia-Pacific is likely to further expand its leading position on the world market. Already today, more than 50 % of revenues are generated in this region. The second largest consumer of paints and coatings in 2017 was North America.
Acrylic Paints Are the Largest Submarket
The current market report also analyzes demand for individual product types: ranging from paints and coatings based on acrylics, vinyls, alkyd, epoxy, and polyurethane up to polyester and paints and coatings based on other products. Acrylic paints were by far the most used type in 2017. Vinyl paints followed. Demand for acrylic paints was highest in Asia-Pacific and North America, followed by Western Europe and South America. Coatings based on acrylic resins are very often used in the construction industry: As wall or facade paints, acrylic resins are highly resistant to light and weather and remain breathable. In combination with water-repellent silicone resins, they are used for exterior facades. Further applications include wood, plastic or metal coatings.
Environmentally Friendly Water-Based Paints Gain Momentum
Water-based and solvent-based paints and coatings dominate the market. Powder coatings only account for a small share of the market for paints and coatings. Water-based coatings are used for wood, plastics, leather, and textile coatings. Moreover, environmentally friendly water coatings are frequently used as machine and automotive paints. The lower VOC levels of water-based coating systems and, in some applications, the possibility to be recycled are a great advantage. These and other advantages will help water-based paints and coatings to account for the highest average growth rate of the upcoming eight years.