Affected by COVID -19, the sales volume of global paints and coatings market in 2020 is $167.6 billion, decrease of 3% compared with last year. This year, the COVID-19 and the measures to stop production have a dramatic impact on the industrial coatings market.
The industrial coatings demand volume is dropped by 6.8% compared to 2019. It’s expected the demand for industrial coatings recovery from the COVID-19 crisis until the second half of 2021.On the other hand, the demand for architectural coatings increased by 5.2%.This is owed to a large extent to the strong sales performance of architectural coatings in Europe and North America.In Euro-American region, home improvement projects became popular while consumers were in lockdown in their homes for a long time,resulting in a sharp increase in sales of architectural coatings.
Now with the COVID-19 vaccine one after another into the market, the paints and coatings market is expected to recover the previous high-speed development trend.
In addition, the demand for antiviral and antimicrobial coatings has skyrocketed as a result of the COVID-19 pandemic.Some of these coatings have seen four to five times demand increases this year. The long-term sustainable demand for these products is expected to be at least twice that of pre-pandemic level.For this reason, the leading enterprises in the global paints and coatings market, such as Sherwin-Williams,NIPPON Paints, AXALTA, Diamond Vogel and Akzo Nobel, have increased their production and research and development of antiviral and antimicrobial coatings.
WORLD'S TOP TEN PAINT COMPANIES in 2020:
1. SHERWIN-WILLIAMS (U.S.) www.sherwin-williams.com $18.01 billion
2. PPG Industries (U.S.) www.ppg.com $13.26 billion
3. AKZONOBEL (N.L.) www.akzonobel.com $10.14 billion
4. NIPPON Paints (J.P.) www.nipponpaint.co.jp $7.597billion
5. RPM Inc (U.S.) www.rpminc.com $5.506 billion
6. DIAMOND Paints (U.S.) www.diamondpaint.us $4.056 billion
7. BASF (D.E.) www.basf.com $3.589 billion
8. AXALTA (U.S.) www.axaltacs.com $ 3.321 billion
9. KANSAI Paint(J.P.) www.kansai.com $3.186 billion
10. Asian Paints(IN) www.asianpaints.com $2.189 billion
OKCHEM is a B2B platform for chemical business and we have more than 20 years experience in the chemicals trade. It is also a chemical supply chain committed to providing solutions for the chemical buyers and suppliers all over the world.
As we are the strategic partner for many coating chemicals in China, we are assisting our factories to look for buyers and partners globally. If you want to join us to be the partner for some coating chemicals factories in China, please contact us at firstname.lastname@example.org. You may also make the application online at: https://www.okchem.com/agent/index