Global demand for paints and varnishes is forecast to expand 4.7% p.a. between 2014 and 2018. Argentina, China, India, Morocco, and the United States are considered the highest potential markets in the coming years.
According to recently published research conducted by a leading international market research company, Global Research & Data Services, the expansion of the global paint and varnish industry is forecast to reach 4.7% p.a. in the coming years. Between 2007 and 2013 the market increased with an average annual growth of 4.2%. Currently, non-aqueous polymer (other than polyester, vinyl and acrylic polymer) based paints and varnishes account for 36.6% of the global demand while the remaining market share is divided between non-aqueous vinyl and acrylic polymer based paints and varnishes (17.8%), non-aqueous polyester based paints and varnishes (15.5%), aqueous polymer (other than vinyl and acrylic polymer) based paints and varnishes (13.4%), aqueous vinyl and acrylic polymer based paints and varnishes (11.7%), and other paints and varnishes (5%).
Argentina, China, Germany, Japan, and the United States represent the largest paint and varnish markets while the strongest annual growth is forecast to occur in Morocco (18.4%), Macedonia (12.3%), Ireland (12.3%), Azerbaijan (11%), and Ghana (10.1%).
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Paint and varnish market size compared to market growth in different countries
Based on in-house analysis and an advanced model which takes into consideration the actual market size, trends, forecast market growth, and changes in the market environment, Global Research and Data Services calculates the Market Potential Rates, the predicted market potential of the country in the coming years. The larger the Market Potential Rate, the more potential the market has in the coming years; and conversely, the smaller the rate, the less potential the market is considered to have in the future. Based on these Market Potential Rates, the top 20 highest potential paint and varnish markets in the coming years are:
Ranking Country Market Potential Rate
1. China 0.48
2. United States 0.36
3. Morocco 0.19
4. Argentina 0.14
5. India 0.14
6. Turkey 0.13
7. Ireland 0.12
8. Macedonia 0.12
9. South Korea 0.12
10. Russia 0.11
11. Germany 0.11
12. Azerbaijan 0.11
13. Ghana 0.10
14. Mexico 0.09
15. Thailand 0.09
16. Chile 0.09
17. Sri Lanka 0.09
18. Estonia 0.09
19. Kazakhstan 0.09
20. Moldova 0.08
The leading players on the global paints and varnishes market are considered to be companies like AB Wilh Becker, Akzo Nobel, Al Khaleej Metal Coat Llc, Al-Jazeera Factory For Paints Co, Altana AG, Asian Paints Ltd, BASF, Benjamin Moore & Co., Berger Paints India Ltd, Betek Boya ve Kimya Sanayi AS, Brillux GmbH & Co KG, Chongqing Sanxia Paints Co., Ltd, CHUGOKU MARINE PAINTS, Ltd., CIN - Corporao Industrial do Norte, S.A., Clariant Chemicals (China) Limited, CNT Group Limited, Coating Resins SA/NV, Corimon C.A., Dai Nippon Toryo Company, Limited, Deutsche Amphibolin-Werke von Robert Murjahn Stiftung GmbH & Co KG, DuluxGroup Limited, Dunn-Edwards Corporation, DuPont, Entreprise Nationale des Peintures SPA, Eucatex Quimica e Mineral Ltda, Fabryka Farb i Lakierow Sniezka SA, Ferro Corporation, Flugger, FUJIKURA KASEI CO., LTD., GEPIC Energy Development Co Ltd, Groupe Topaz, Grupo Comex, S.A. de C.V., Guangdong Maydos Building Materials Limited Company, Helios Domzale d.d. Domzale, Hempel A/S, ICI Pakistan Limited, Impreglon SE, Inversiones Mundial S.A., J. Wagner AG, Jinxi Refining Chemical Baohai Group Company, Jotun A S, KANSAI PAINT CO., LTD., Kapci Coatings Co., KCC Corp, Kemira Pigments Oy, Kotovsk Paint Works, Kronos International, Inc., Lakokraska Joint Stock Company, Lindngruppen AB, Looser Holding AG, Marei Bin Mahfouz Group and Company Limited, Materis Parent Srl, Nanjing Polyester Material Co., Ltd., NIPPON PAINT CO., LTD., Nipsea Pte Ltd, OMNOVA Solutions Inc., Polisan Holding AS, PPG, RPM International Inc., RPM, Inc., Shandong Changping Industry And Trade Group Co., Ltd., Shanghai Coatings Co Ltd, Sherwin - Williams Do Brasil Industria e Comercio, Shunde Huarun Painting Factory Co., Ltd., Sicpa Brasil Industria de Tintas E Sistemas Ltda, SK KAKEN CO., LTD., Spectrum Industrial Investment Group, The International Group For Modern Coatings, The Valspar Corporation, Tikkurila Oyj, Wattyl Australia Pty Ltd, Weg Industrias S.A., Von Roll Schweiz AG, Wuhan Hezhong Biochemistry Manufacturing Co., Ltd., Wuxi Feihong Macromolecule Materials Factory, Zagorsk Paint and Varnish Factory Joint Stock Company, and Zhongshan Valspar Chemical Industrial Co., Ltd.
The market information is based on new industry data reports recently published by Global Research & Data Services. The reports offer the most up-to-date market data on the actual market situation, trends, and future outlook for paints and varnishes in the world and individually for the following countries:
Argentina, Armenia, Australia, Austria, Azerbaijan, Belgium, Bolivia, Bulgaria, Canada, Chile, China, Colombia, Czech Republic, Denmark, Ecuador, Estonia, Ethiopia, Finland, France, Georgia, Germany, Ghana, Greece, Hungary, India, Indonesia, Ireland, Italy, Japan, Jordan, Kazakhstan, Kyrgyzstan, Latvia, Lebanon, Lithuania, Macedonia, Malaysia, Mexico, Moldova, Morocco, Netherlands, Nigeria, Norway, Oman, Pakistan, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Senegal, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Thailand, Turkey, Ukraine, United Kingdom, United States, Uruguay, Vietnam
The reports include historic market data from 2007 to 2013 and forecasts until 2018 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, analysts, and other people looking for key industry data in readily accessible and clearly presented tables and graphs.
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The latest market data for this research include:
- Overall paint and varnish market size, 2007-2018
- Paint and varnish market size by product segment, 2007-2018
- Growth rates of the overall paint and varnish market and different product segments, 2007-2018
- Shares of different product segments of the overall paint and varnish market, 2007, 2013 and 2018
- Market Potential Rates of the overall paint and varnish market and different product segments
The product segments analyzed in the data reports include:
Polyester based paints and varnishes (non-aqueous)
Vinyl and acrylic polymer based paints and varnishes (non-aqueous)
Other polymer based paints and varnishes (non-aqueous)
Vinyl and acrylic polymer based paints and varnishes (aqueous)
Other polymer based paints and varnishes (aqueous)
Other paints and varnishes
The reports answer the following questions:
- What is the current size of the paint and varnish market in the world and in different countries?
- How is the paint and varnish market divided into different product segments?
- How are the overall market and different product segments growing?
- How is the market predicted to develop in the future?
- What is the market potential compared to other countries?
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