Analysis of the Asia-Pacific paint and coatings market

The world economic growth was greatly impacted by the key happenings in 2008 and 2009. China, the clear front runner of the Asian economic growth was greatly impacted in 2009, with growth rates dropping to 9% from its average 15 to 20%. The APAC paint and coatings market is growing in line with the robust economic growth seen in the region. In 2008 the paint and coatings market in APAC was valued at $ 40.1 billion with a volume of 13.6 million tonnes or approximately 11 billion liters. This makes up roughly 30 to 35% of the global paint industry. The terms green chemistry, nano-technology and smart coatings are the current buzz words and formulators are finding ways to couple these three technologies together to produce coatings that are not just environmentally friendly but also able to enhance sustainability.