The global market for both the manufacturing and distribution of paints and coatings is growing at a considerable pace.
Multiple reports from IBISWorld, Grand View Research, ResearchMoz, and Market Watch have lent credence to the ongoing growth state of the the global paints and coatings market. Projections from these sources point to growth in both manufacturing and distribution, riding on the backs of changing consumer preferences and newly emerging markets across the globe. With our origins in chemical logistics, Odyssey is positioned to serve this growth. Our experts have a proven track record navigating the particular challenges that chemical logistics can create.
Paints and coatings make up a large subset of the chemicals industry, with a 2018 market value of roughly 169.3B USD. Statista projects that by 2022, that market value could be as much as 209.36B USD as demand for specific products rises, and new markets emerge in developing countries.
Paints and coatings were shipped to the tune of 45.40M tons globally in 2016, and with projected compound annual growth rates (CAGR) expected to reach 4.2%, tonnage shipped could reach in the ballpark of 65.81M tons by 2025. The growth is being fueled by greater demand for industrial paints and coatings in the construction sector, particularly in the US, where value of construction put in place reached 1.29T USD in December 2018, and the APAC region, which accounts for 45% of the coatings and paints demand. Industrialization in China and India (where the paint and coatings industry is projected to experience a CAGR of 12% through 2022) combined with a growing middle class and demand for decorative paints and coatings from these regions is helping to bolster growth as well. Growth in specialty coatings, such as anti-bacterial, odor-free, nanocoatings, electrical, and environmentally-conscious coatings are all additional factors leading to such growth.
Odyssey representatives will be attending LogiChem EU (Mar. 19-21 2019, Amsterdam, Netherlands, Booth 17) and the European Coatings Show (Mar. 19-21, Nuremberg, Germany) and available to discuss our full suite of chemical logistics solutions.
and ocean transport, as well as locations positioned to provide strategic services throughout NA, the EMEA and APAC regions, Odyssey can get your materials anywhere in the world.
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