Paint, Coatings Industry Records Losses Worldwide in 1Q 2020
June 17, 2020/
By Jasleen Kaur/
In the first quarter of 2020, sales of decorative paints declined three percent from the previous year’s level, while sales of industrial coatings were down about eight percent year-on-year.
For the second quarter of 2020, a sharp sales drop of up to 35 percent is expected, especially in the industrial coatings segment, as production volumes in the key automotive and metal processing market segments will have fallen drastically.
The individual companies are showing different growth trends, which is due to their segment and regional mix or acquisition activities. The companies with a high proportion of automotive OEM finishes and industrial coatings in their product portfolio show more negative development.
With sales of approximately $60 billion in 2019, the top 10 global companies hold a share of about 45 percent of the global market for paints and coatings.