LONDON – In 2010, the global coating market hit about $90 billion and is expected to grow about 10 percent to $99 billion in 2011. This information is presented in “Global and China Coating Industry Report, 2010-2011,” a new research report developed by ResearchInChina that has been recently published by Market Publishers Ltd.
Decorative coatings is the largest application area, accounting for approximately 45 percent of the total market, followed by vehicle coating, making up roughly 15 percent, and protective and marine coating (PMC), accounting for about 12 percent. General industrial coatings stand at roughly 10 percent, followed by powder coatings, wood coatings, coil coatings and packaging coatings.
According to the report, China is the world's largest market for coatings, with a value of $18.9 billion in 2011. Of that, 54 percent was attributed to decorative coatings. The report estimates that an expected rebound in China’s real estate market will increase the value of the decorative coatings market to over $12 billion.
The study reports that while China is the world’s largest market for coatings, its domestic coatings production is relatively small. While the number of domestic coatings companies is over 2,500, revenue from these companies only accounts for about 11 percent of the total Chinese coatings market. Guangdong Carpoly Chemical Co. Ltd., the largest domestic coatings company, is expected to report 2011 revenue of roughly $350 million.
For additional information about the report, visit http://marketpublishers.com.