HANNOVER, Germany, September 21, 2012 — Global consumption volume of paints and coatings is expected to amount to approximately 48 million tonnes in 2019 and to thus continue to accelerate growth in comparison to the previous eight years.
According to market research company Ceresana’s new "Market Study: Paints and Varnishes – World,” Asia-Pacific will continue to expand its leading position on the world market during the next eight years. About a third of global revenues are generated in this region already.
A rise in demand and increasing application possibilities for multifunctional paints and varnishes are indicating a positive demand development.
Solvent-free products on the rise
In 2011, more than half of the paints and varnishes processed worldwide were waterbased. Consumption volume is likely to increase during the next eight years, as more and more solvent-based paints and varnishes are replaced by other technologies. Many manufacturers develop solvent-free and environmentally friendly paints and varnishes that are, for example, suitable for steel containers or internal coatings. This allows reducing environmental pollution by VOC emissions. This development is further fuelled by legal requirements and a heightened environmental awareness on the part of the consumers.
Source: european-coatings.com, All contents © 2012 by Vincentz Network, Hannover, Germany
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