Industrial Coatings Market

JCT Coatingstech Magazine

July 2008

Volume 5, No. 7

Market Update

Page 40-46

Excerpts from… “Innovators Will Succeed in Challenging Industrial Coatings Market”

By Cynthia Challener, JCT Coatingstech Contributing Writer

…In 2007, the volume of global industrial coatings sales totaled approximately 15 million tons, or about 40% of all coatings demand, according to Information Research (IRL). Regionally, Chinese industrial coatings consumption accounts for 50-60% of total demand, while India claims a 20%a share. The North American industrial coatings market achieved sales valued at $121.3 billion and a volume of 631million gallons, according to The ChemQuest Group, Inc.

Lin the OEM segment, which includes coatings for furniture, appliances, general wood, transportation (automotive, heavy truck), and farm equipment, the shift of manufacturing operations to low cost regions of the world has been the prevalent trend and has had a significant impact on coatings producers. “Certain OEM sub-segments-wood products including furniture and flooring and heavy duty trucks, in particular – have suffered permanent loss of coatings demand in North America,” stresses Daniel Murad, President & CEO of The ChemQuest Group, Inc. Domestic suppliers have followed this migration to the Asia Pacific region via acquisitions and/or green-field start-ups.

(To read the complete article…and more comments on “Innovators Will Succeed in Challenging Industrial Coatings Market”………see JCT Coatingstech Magazine – July 2008 issue... “Pavement Marking Paints”).