Global Industrial Coatings Market Study completed
We are pleased to report that the Global Industrial Coatings Market 2010–2020 study was completed in January. This study has been a key focus for our Business Director, Mark Small, who led the project. He has been working within the Irfab® team of the PRA, since their own Director of Irfab left the project at very short notice.
Mark has essentially been caretaking the role and was tasked with getting the Global Industrial Coatings Market 2010–2020 study back on track to ensure that it was delivered on time.
The study took almost two years to complete, and is PRA’s most ambitious and comprehensive industry review to date. It is an invaluable tool to improve understanding of the end-user coatings market and to support strategic decision making.
The study findings suggest that the global industrial coatings market was worth over €40 billion in 2009. The market experienced a decline of 8% in terms of tonnage due to the recession. This resulted in estimated coatings demand essentially falling back to 2006 levels. As a result, industrial coatings exhibited a 0.1% compound annual growth rate (CAGR) for the period 2006 to 2009.