The coatings industry is worth more than USD 100bn globally. In terms of market share, as Third Bridge gleaned from one specialist’s estimates, the architectural segment is the largest, making up at least 40%. Industrials accounts for 20-30%, automotive 10-15% and marine and aerospace are each about 5%. Although the industry saw a strong performance post-financial crisis, peaking in 2015-16, the North American and Chinese markets are decelerating. In addition, raw material prices have been edging up since 2014. On the automotive side, cars are changing size: although it is increasing in the US, other countries are seeing smaller builds come out. Meanwhile, the refinish business has been affected by lower accidents rates, and there are concerns that collision avoidance technology in AVs could see this segment decline in future.
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