Global Coatings Market to Reach $94 Billion by 2012, According to New Report by Global Industry Analysts, Inc.
As stated by the recent report published by Global Industry Analysts, Inc., global market for coatings is projected to reach US$94 billion by 2012, reflecting a CAGR of 3% over the analysis period 2008-2012. Europe represents the largest market with an estimated US$24.6 billion for 2008. Architectural coatings represents the largest product segment with an estimated US$38.2 billion for 2008. Global demand for OEM Product Coatings is projected to reach US$34.7 billion by 2012 from an estimated US$31 billion in 2008. Special Purpose coatings represent the fastest growing segment, with a CAGR of 3.7% for the period 2008-2012.
In recent times, the global coatings industry has come under close scrutiny from environmental agencies around the world. Certain types of coatings, specifically solvent-based coatings, are considered Volatile Organic Compounds (VOCs). These VOCs, after reacting with nitrogen oxides present in the atmosphere, cause depletion of the ozone layer, a major environmental hazard. Coatings manufacturers are constantly striving to achieve the US EPA targets by employing innovative R&D methods to improve the quality of coatings and minimize the levels of VOCs.
Major global players profiled in the report include Akzo Nobel N.V., Ashland Inc., BASF SE, Benjamin Moore & Co., CFC International Inc., Columbia Chemical Corporation, DuPont Coatings and Color Technologies, Eastman Chemical Company, H.B. Fuller Company, Hempel A/S, ICI Paints, Kansai Paint Co Ltd, Lanxess AG, Nippon Paint Co Ltd, PPG Industries, Inc., Rohm and Haas Company, The Sherwin-Williams Company, Total S.A., and Valspar Corporation.
The report titled "Coatings: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product overview, key markets worldwide, product introductions/innovations, and recent industry activity. The report analyzes market data and analytics in volume and value sales for major geographic regions including the US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), the Middle East, and Latin America. Product categories analyzed include Architectural Coatings (Exterior Solvent Based Architectural Coatings, Exterior Water Based Architectural Coatings, Interior Solvent Based Architectural Coatings, Interior Water Based Architectural Coatings, Architectural Lacquers, and Other Architectural Coatings); OEM Product Coatings (Automotive and Other Transportation Equipment Finishes, Appliances Finishes, Wood Finishes, Metal Finishes, Container Finishes, Machinery and Equipment Finishes, Non-Wood Finishes, Paper and Paperboard Finishes, Electrical Insulation Coatings, Powder Coatings, Other Industrial Product Coatings, and Other OEM Product Coatings); and Special Purpose Coatings (Industrial Maintenance Coatings, Automotive Finishes, and Other Special Purpose Coatings).
For more details about this research report, please visit
http://www.strategyr.com/Coatings_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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Public Relations
Global Industry Analysts, Inc.
Under tdaniels Hartwell
September 3rd, 2010
