Citation
(2006), "Asian coating consumption valued at $20.5 billion in 2004", Pigment & Resin Technology, Vol. 35 No. 1. https://doi.org/10.1108/prt.2006.12935aab.006
Publisher
:Emerald Group Publishing Limited
Copyright © 2006, Emerald Group Publishing Limited
Asian coating consumption valued at $20.5 billion in 2004
Asian coating consumption valued at $20.5 billion in 2004
According to a new study by Kusumgar, Nerlfi & Growney, West Caldwell, N.J., Asian coating consumption surged to 7.9 MM metric tons with a sales value of $20.5 billion in 2004. An 8 percent annual rate of growth (AGR) is forecast for the region through 2009, significantly higher than the mature growth rates found in the US and Europe. China and India are the fastest growing countries for coatings in Asia, both expanding at double-digit rates. China has recently surpassed Japan to become the largest coatings market in Asia. In 2004, China accounted for 42 percent of the coating volume and one- third of the dollars in the region. Coating demand in China is being propelled by a strong housing market, infrastructure building, the increased domestic consumption of goods and growing exports. Indian coatings usage is also expanding because of a strong housing market and infrastructure building. Vehicle production in India is rapidly increasing. However, India is significantly behind China in the manufacture of most goods utilizing paint.
In contrast to China and India, coatings consumption in Japan has stagnated. Japan remains the largest consumer of automotive coatings in Asia, but China will surpass the country by 2009. Japan has also lost its leadership position in shipbuilding to Korea; both countries are facing stiff competition from China. Responding to the low domestic growth of recent years, Japanese coating producers have expanded their presence in other Asian countries. China, Japan, South Korea and India are the major coating consumers in Asia. In 2004, they represented just over 80 percent of the coatings volume and dollars in Asia. Japan's and South Korea's share of the Asian coating market is projected to decline. In 2004, the two countries combined were 27 percent of the coating tonnage, but are forecast to fall to a 20 percent share by 2009. The combined share of coating tonnage for China and India will rise from 54 to 63 percent.
“The Asian Coatings Industry” is a 500-page study that is available through subscription. For additional information please call Kusumgar, Nerlfi & Growney at 973/439.0030 or e-mail: nerlfikng@cs.com