According to a new research report, the global coatings industry is developing well in 2017, with the decorative coatings market developing at a faster rate than the automotive coatings and other industrial coatings markets. Overall, this momentum will continue in 2018, but the growth rate To be slower.
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According to the research, global coating output is expected to increase by about 3% in 2018 and the market value is expected to increase by 4.4%, slightly lower than that in 2017. In slightly more countries and regions, the construction industry is slightly higher than the GDP growth rate. , Asia accounted for 45% of the global coatings market size, and rapid development than other regions, the global coatings market a greater impact.In addition, the impact of price fluctuations on the paint market value is also a factor that can not be ignored, and market value analysis in US dollars If calculated in other currencies, the market capitalization figures may be different. If calculated in euros, the market value in 2017 will increase by 3.5%.
Figures show that, due to the strong construction industry, decorative coatings are the fastest-growing varieties among all coating varieties, for example, the construction industry in Europe increased by 3.5% in 2017 and in China, the increase was as high as 10% GDP growth .This shows that the rapid development of the construction industry has stimulated the development of decorative coatings market in Europe and Asia.In addition, North America in 2017 decorative paint production increased by about 2.5%, the market value of about 4.4% increase, these data are also higher than the United States GDP growth (2.2%).
Affected by the auto manufacturing industry, global auto OEM paint production increased by 1.7% and market value increased by about 3% in 2017. The automotive refinish paint market has been developing steadily due to traffic conditions, vehicle conditions and accident rates. Other industrial coatings such as powder coatings, Wood coatings, coil coatings, packaging coatings, protective coatings, marine coatings and other development is relatively stable.From the industrial growth rate of about 7% in China, about 2% in Europe, the United States about 1.6% .This also reflects from one side Other industrial coatings market growth.
Regionally, Asia has been the larger market for coatings in the global market for many years and is growing rapidly, accounting for 52% of global output and 45% of the market capitalization. In 2017, coatings in Asia Output increased by about 5.7%, the market value of about 6.3% increase.Study pointed out that China is still a large paint market in Asia, accounting for 56% of the total market capitalization.Second, respectively, India and Japan.Europe and North America are the global coatings industry The second largest and the third largest, accounting for 19% and 23% respectively of the global total; and accounting for 13% and 18% of the total global paint market respectively.
Analysis pointed out that the global coatings market factors mainly include GDP, construction, automobile manufacturing and industrial development, etc. Through the analysis of each factor, is expected in 2018 the global paint market trend forecast is optimistic, the growth rate may be slightly lower than 2017 year.
The global GDP growth forecast for 2018 is expected to have risen to about 3.74%, slightly higher than that of 2017 (3.58%), of which China's GDP growth was steady at 6.7% and India increased from 5.9% in 2017 to 7.0% ; Europe's GDP growth is also relatively stable, about 2.3%; the United States GDP is expected to rise slightly, about 2.5%. Overall, this 2018 global paint market is a favorable factor.
In 2018, the growth rate of construction industry in the world is expected to be slightly lower than in 2017. For example, the construction industry in the United States will have a growth rate of 4% -4.5% in 2017 and 3.5% -4.0% in 2018. The situation in Europe is similar to that in 2017 At 3.5% and projected at 2.5% by 2018. While China's construction industry is still expected to continue its rapid growth, the growth rate will be lower than in 2017.
Data from the global automotive industry show an increase of about 1.7% in 2017 compared with 2% -3% in 2018 and coming years, while the expected increase in Asia is 3% -4%. In Europe and North America The increase is expected to be 0 ~ 2%. Overall, the global automotive manufacturing growth slightly higher than in 2017.
For example, the global industry growth in 2017 will be about 7.0%, of which, the growth rate of China's industry will be 5.5% -6.5%; the United States will account for about 1.6%, which is not expected to change much this year ; About 2% in Europe, this year is expected to be 1% to 2%.
Taken together, global paint production is expected to see a good momentum of growth in 2018 but due to a slowdown in the construction and industrial sectors, it is expected that the increase will be slightly lower than in 2017. The research indicates that the coatings market in Asia is expected to increase at a high rate in 2018, Output increased by about 3.7% and market value increased by 5.4%.