World Paint & Coatings

Emerging markets boost worldwide demand

As discussed in new study World Paints & Coatings, a bright outlook is forecast for the paint and coatings market worldwide through 2020, buoyed by strong economic growth in developing regions. Heightened income levels in emerging markets will continue to boost the ranks of the working and middle classes, driving new demand for housing, as well as fueling higher frequencies of paint use. Expanding manufacturing sectors and infrastructure investment will spur sales of industrial coatings utilized in the production and upkeep of motor vehicles, furniture, marine vessels, and roads and bridges.

India to post fastest gains, while demand in China remains strong

Freedonia Group projects that of the major paint and coatings markets worldwide, the best opportunities are forecast for India, where paint use will be fueled by rapidly expanding investment to build or update homes, businesses, and industrial facilities. In China, which alone accounts for nearly one-third of the global market, a growing middle class will continue to boost demand for higher quality products, while solid gains in manufacturing output are expected to drive industrial coatings sales. Among developed nations, the US will post the best performance as building construction activity and fixed investment spending advance at a solid pace. Western Europe is expected to see a turnaround in paint sales, spurred by improved economic output and a recovering construction sector.

Emissions regulations continue to shape industry

Coatings suppliers worldwide will continue to reduce the volatile organic compound (VOC) content of their products due to intensifying regulatory pressure. As a result, water-based paints and powder coatings will gain market share at the expense of solvent-based products, especially in countries such as China, where environmental legislation is becoming increasingly strict. Nonetheless, solventborne formulations will continue to dominate a number of specialty applications, including marine coatings, automotive refinishes, and corrosion protection coating.

Study coverage

World Paint & Coatings presents historical data (2005, 2010, 2015) plus forecasts (2020, 2025) for supply and demand, as well as demand by market and formulation, for six regions and 23 countries. The study also considers market environment factors, assesses the industry structure, evaluates company market share and profiles 38 industry players worldwide including Akzo Nobel, Axalta Coating Systems, BASF, Nippon Paint, PPG, Sherwin-Williams and Valspar.

Freedonia's market research studies provide timely access to reliable, unbiased analysis from which to benchmark performance and answer critical questions: Is your business growing faster or slower than the overall market? Is your organization gaining or losing market share? Which products and markets are the most desirable to explore for expansion? Are there industry trends or competitor activities that present a threat or opportunity to your business?

Studies offer a great ROI and can help business leaders make informed, analytically driven decisions. When considering the time, effort, and expertise that goes into it, our off-the-shelf research saves our clients time and money.

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Purchase World Paint & Coatings by the Section

  1. World Paint & Coatings

    $6,200.00

    1. 1 INTRODUCTION

      $181.00

    2. 2 EXECUTIVE SUMMARY

      $104.00

      1. Table | WORLD PAINT & COATINGS DEMAND

    3. 3 MARKET ENVIRONMENT

      $1,146.00

      1. 3.1 General

        $82.00

      2. 3.2 World Economic Overview

        $178.00

        1. 3.2.1 Recent Historical Trends

          $82.00

        2. 3.2.2 World Economic Outlook

          $110.00

          1. Table | WORLD GROSS DOMESTIC PRODUCT BY REGION

      3. 3.3 World Population Outlook

        $95.00

        1. Table | WORLD POPULATION BY REGION

      4. 3.4 World Gross Fixed Investment Outlook

        $82.00

        1. Table | WORLD GROSS FIXED CAPITAL FORMATION BY REGION

      5. 3.5 World Building Construction Outlook

        $197.00

        1. Table | WORLD BUILDING CONSTRUCTION EXPENDITURES BY REGION

        2. 3.5.1 Residential Building

          $97.00

          1. Table | WORLD RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION

        3. 3.5.2 Nonresidential Building

          $82.00

          1. Table | WORLD NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES BY REGION

      6. 3.6 World Nonbuilding Construction Outlook

        $82.00

        1. Table | WORLD NONBUILDING CONSTRUCTION EXPENDITURES BY REGION

      7. 3.7 World Manufacturing Outlook

        $85.00

        1. Table | WORLD MANUFACTURING VALUE ADDED BY REGION

      8. 3.8 World Motor Vehicle Production

        $110.00

        1. Table | WORLD MOTOR VEHICLE PRODUCTION BY REGION

      9. 3.9 World Motor Vehicles In Use

        $82.00

        1. Table | WORLD MOTOR VEHICLES IN USE BY REGION

      10. 3.10 Environmental & Regulatory Considerations

        $234.00

        1. 3.10.1 Volatile Organic Compounds

          $122.00

        2. 3.10.2 Other Environmental Issues

          $90.00

    4. 4 OVERVIEW

      $1,288.00

      1. 4.1 General

        $109.00

        1. Table | WORLD PAINT & COATINGS DEMAND

      2. 4.2 Demand by Region

        $87.00

        1. Table | WORLD PAINT & COATINGS DEMAND BY REGION

        2. CHART III-1 WORLD PAINT & COATINGS DEMAND BY REGION, 2015

      3. 4.3 Demand by Formulation

        $403.00

        1. Table | WORLD PAINT & COATINGS DEMAND BY FORMULATION

        2. CHART III-2 WORLD PAINT & COATINGS DEMAND BY FORMULATION & REGION, 2005, 2015, &2025

        3. 4.3.1 Water-Based

          $98.00

          1. Table | WORLD WATER-BASED PAINT & COATINGS DEMAND BY REGION

        4. 4.3.2 Solvent-Based

          $82.00

          1. Table | WORLD SOLVENT-BASED PAINT & COATINGS DEMAND BY REGION

        5. 4.3.3 Powder Coatings & Other

          $111.00

          1. Table | WORLD POWDER & OTHER COATINGS DEMAND BY REGION

      4. 4.4 Demand by Market

        $544.00

        1. Table | WORLD PAINT & COATINGS DEMAND BY MARKET

        2. CHART III-3 WORLD PAINT & COATINGS DEMAND BY MARKET, 2015

        3. 4.4.1 Architectural

          $118.00

          1. Table | WORLD ARCHITECTURAL MARKETS FOR PAINT & COATINGS BY SEGMENT, FORMULATION, ®ION

        4. 4.4.2 Manufacturing

          $169.00

          1. Table | WORLD MANUFACTURING MARKETS FOR PAINT & COATINGS BY SEGMENT, FORMULATION, ®ION

        5. 4.4.3 Maintenance & Specialty

          $181.00

          1. Table | WORLD MAINTENANCE & SPECIALTY MARKETS FOR PAINT & COATINGS BY SEGMENT, FORMULATION, ®ION

      5. 4.5 Production by Region

        $82.00

        1. Table | WORLD PAINT & COATINGS PRODUCTION BY REGION

        2. CHART III-4 WORLD PAINT & COATINGS PRODUCTION BY REGION, 2015

      6. 4.6 International Trade Flows

        $82.00

        1. Table | WORLD PAINT & COATINGS NET EXPORTS BY REGION

    5. 5 NORTH AMERICA

      $888.00

      1. 5.1 North America: Economic Overview

        $82.00

      2. 5.2 North America: Supply & Demand

        $82.00

        1. Table | NORTH AMERICA: PAINT & COATINGS SUPPLY & DEMAND

      3. 5.3 North America: Outlook

        $82.00

        1. Table | NORTH AMERICA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        2. CHART IV-1 NORTH AMERICA: PAINT & COATINGS DEMAND BY COUNTRY, 2015

      4. 5.4 United States

        $236.00

        1. 5.4.1 United States: Economic Overview

          $82.00

        2. 5.4.2 United States: Supply & Demand

          $82.00

          1. Table | UNITED STATES: PAINT & COATINGS SUPPLY & DEMAND

        3. 5.4.3 United States: Outlook

          $110.00

          1. Table | UNITED STATES: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      5. 5.5 Canada

        $175.00

        1. 5.5.1 Canada: Economic Overview

          $82.00

        2. 5.5.2 Canada: Supply & Demand

          $82.00

          1. Table | CANADA: PAINT & COATINGS SUPPLY & DEMAND

        3. 5.5.3 Canada: Outlook

          $82.00

          1. Table | CANADA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      6. 5.6 Mexico

        $197.00

        1. 5.6.1 Mexico: Economic Overview

          $82.00

        2. 5.6.2 Mexico: Supply & Demand

          $82.00

          1. Table | MEXICO: PAINT & COATINGS SUPPLY & DEMAND

        3. 5.6.3 Mexico: Outlook

          $82.00

          1. Table | MEXICO: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      7. 5.7 North America: Suppliers & Market Share

        $109.00

        1. CHART IV-2 NORTH AMERICA: PAINT & COATINGS MARKET SHARE, 2015

        2. Table | SELECTED PAINT & COATINGS SUPPLIERS BASED IN NORTH AMERICA

    6. 6 WESTERN EUROPE

      $1,622.00

      1. 6.1 Western Europe: Economic Overview

        $82.00

      2. 6.2 Western Europe: Supply & Demand

        $82.00

        1. Table | WESTERN EUROPE: PAINT & COATINGS SUPPLY & DEMAND

      3. 6.3 Western Europe: Outlook

        $82.00

        1. Table | WESTERN EUROPE: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        2. CHART V-1 WESTERN EUROPE: PAINT & COATINGS DEMAND BY COUNTRY, 2015

      4. 6.4 Germany

        $188.00

        1. 6.4.1 Germany: Economic Overview

          $82.00

        2. 6.4.2 Germany: Supply & Demand

          $82.00

          1. Table | GERMANY: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.4.3 Germany: Outlook

          $82.00

          1. Table | GERMANY: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      5. 6.5 Italy

        $204.00

        1. 6.5.1 Italy: Economic Overview

          $82.00

        2. 6.5.2 Italy: Supply & Demand

          $82.00

          1. Table | ITALY: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.5.3 Italy: Outlook

          $82.00

          1. Table | ITALY: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      6. 6.6 United Kingdom

        $173.00

        1. 6.6.1 United Kingdom: Economic Overview

          $82.00

        2. 6.6.2 United Kingdom: Supply & Demand

          $82.00

          1. Table | UNITED KINGDOM: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.6.3 United Kingdom: Outlook

          $82.00

          1. Table | UNITED KINGDOM: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      7. 6.7 France

        $183.00

        1. 6.7.1 France: Economic Overview

          $82.00

        2. 6.7.2 France: Supply & Demand

          $82.00

          1. Table | FRANCE: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.7.3 France: Outlook

          $82.00

          1. Table | FRANCE: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      8. 6.8 Spain

        $186.00

        1. 6.8.1 Spain: Economic Overview

          $82.00

        2. 6.8.2 Spain: Supply & Demand

          $82.00

          1. Table | SPAIN: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.8.3 Spain: Outlook

          $82.00

          1. Table | SPAIN: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      9. 6.9 Netherlands

        $155.00

        1. 6.9.1 Netherlands: Economic Overview

          $82.00

        2. 6.9.2 Netherlands: Supply & Demand

          $82.00

          1. Table | NETHERLANDS: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.9.3 Netherlands: Outlook

          $82.00

          1. Table | NETHERLANDS: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      10. 6.10 Other Western Europe

        $249.00

        1. 6.10.1 Other Western Europe: Economic Overview

          $82.00

        2. 6.10.2 Other Western Europe: Supply & Demand

          $82.00

          1. Table | OTHER WESTERN EUROPE: PAINT & COATINGS SUPPLY & DEMAND

        3. 6.10.3 Other Western Europe: Outlook

          $82.00

          1. Table | OTHER WESTERN EUROPE: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        4. 6.10.4 Other Western Europe: Demand by Country

          $82.00

          1. Table | OTHER WESTERN EUROPE: PAINT & COATINGS DEMAND BY COUNTRY

      11. 6.11 Western Europe: Suppliers & Market Share

        $82.00

        1. CHART V-2 WESTERN EUROPE: PAINT & COATINGS MARKET SHARE, 2015

        2. Table | SELECTED PAINT & COATINGS SUPPLIERS BASED IN WESTERN EUROPE

    7. 7 ASIA/PACIFIC

      $2,111.00

      1. 7.1 Asia/Pacific: Economic Overview

        $82.00

      2. 7.2 Asia/Pacific: Supply & Demand

        $82.00

        1. Table | ASIA/PACIFIC: PAINT & COATINGS SUPPLY & DEMAND

      3. 7.3 Asia/Pacific: Outlook

        $84.00

        1. Table | ASIA/PACIFIC: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        2. CHART VI-1 ASIA/PACIFIC: PAINT & COATINGS DEMAND BY COUNTRY, 2015

      4. 7.4 China

        $277.00

        1. 7.4.1 China: Economic Overview

          $82.00

        2. 7.4.2 China: Supply & Demand

          $82.00

          1. Table | CHINA: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.4.3 China: Outlook

          $130.00

          1. Table | CHINA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      5. 7.5 India

        $237.00

        1. 7.5.1 India: Economic Overview

          $82.00

        2. 7.5.2 India: Supply & Demand

          $82.00

          1. Table | INDIA: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.5.3 India: Outlook

          $115.00

          1. Table | INDIA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      6. 7.6 Japan

        $216.00

        1. 7.6.1 Japan: Economic Overview

          $82.00

        2. 7.6.2 Japan: Supply & Demand

          $82.00

          1. Table | JAPAN: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.6.3 Japan: Outlook

          $89.00

          1. Table | JAPAN: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      7. 7.7 South Korea

        $183.00

        1. 7.7.1 South Korea: Economic Overview

          $82.00

        2. 7.7.2 South Korea: Supply & Demand

          $82.00

          1. Table | SOUTH KOREA: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.7.3 South Korea: Outlook

          $82.00

          1. Table | SOUTH KOREA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      8. 7.8 Indonesia

        $182.00

        1. 7.8.1 Indonesia: Economic Overview

          $82.00

        2. 7.8.2 Indonesia: Supply & Demand

          $82.00

          1. Table | INDONESIA: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.8.3 Indonesia: Outlook

          $82.00

          1. Table | INDONESIA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      9. 7.9 Thailand

        $186.00

        1. 7.9.1 Thailand: Economic Overview

          $82.00

        2. 7.9.2 Thailand: Supply & Demand

          $82.00

          1. Table | THAILAND: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.9.3 Thailand: Outlook

          $82.00

          1. Table | THAILAND: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      10. 7.10 Taiwan

        $179.00

        1. 7.10.1 Taiwan: Economic Overview

          $82.00

        2. 7.10.2 Taiwan: Supply & Demand

          $82.00

          1. Table | TAIWAN: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.10.3 Taiwan: Outlook

          $82.00

          1. Table | TAIWAN: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      11. 7.11 Australia

        $160.00

        1. 7.11.1 Australia: Economic Overview

          $82.00

        2. 7.11.2 Australia: Supply & Demand

          $82.00

          1. Table | AUSTRALIA: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.11.3 Australia: Outlook

          $82.00

          1. Table | AUSTRALIA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      12. 7.12 Other Asia/Pacific

        $219.00

        1. 7.12.1 Other Asia/Pacific: Economic Overview

          $82.00

        2. 7.12.2 Other Asia/Pacific: Supply & Demand

          $82.00

          1. Table | OTHER ASIA/PACIFIC: PAINT & COATINGS SUPPLY & DEMAND

        3. 7.12.3 Other Asia/Pacific: Outlook

          $82.00

          1. Table | OTHER ASIA/PACIFIC: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        4. 7.12.4 Other Asia/Pacific: Demand by Country

          $82.00

          1. Table | OTHER ASIA/PACIFIC: PAINT & COATINGS DEMAND BY COUNTRY

      13. 7.13 Asia/Pacific: Suppliers & Market Share

        $82.00

        1. CHART VI-2 ASIA/PACIFIC: PAINT & COATINGS MARKET SHARE, 2015

        2. Table | SELECTED PAINT & COATINGS SUPPLIERS BASED IN THE ASIA/PACIFIC REGION

    8. 8 OTHER REGIONS

      $2,116.00

      1. 8.1 Central & South America

        $527.00

        1. 8.1.1 Central & South America: Economic Overview

          $82.00

        2. 8.1.2 Central & South America: Supply & Demand

          $82.00

          1. Table | CENTRAL & SOUTH AMERICA: PAINT & COATINGS SUPPLY & DEMAND

        3. 8.1.3 Central & South America: Outlook

          $82.00

          1. Table | CENTRAL & SOUTH AMERICA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        4. 8.1.4 Brazil

          $188.00

          1. Table | BRAZIL: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | BRAZIL: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        5. 8.1.5 Other Central & South America

          $173.00

          1. Table | OTHER CENTRAL & SOUTH AMERICA: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | OTHER CENTRAL & SOUTH AMERICA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      2. 8.2 Eastern Europe

        $724.00

        1. 8.2.1 Eastern Europe: Economic Overview

          $82.00

        2. 8.2.2 Eastern Europe: Supply & Demand

          $82.00

          1. Table | EASTERN EUROPE: PAINT & COATINGS SUPPLY & DEMAND

        3. 8.2.3 Eastern Europe: Outlook

          $82.00

          1. Table | EASTERN EUROPE: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        4. 8.2.4 Russia

          $211.00

          1. Table | RUSSIA: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | RUSSIA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        5. 8.2.5 Poland

          $161.00

          1. Table | POLAND: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | POLAND: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        6. 8.2.6 Other Eastern Europe

          $172.00

          1. Table | OTHER EASTERN EUROPE: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | OTHER EASTERN EUROPE: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

      3. 8.3 Africa/Mideast

        $864.00

        1. 8.3.1 Africa/Mideast: Economic Overview

          $82.00

        2. 8.3.2 Africa/Mideast: Supply & Demand

          $82.00

          1. Table | AFRICA/MIDEAST: PAINT & COATINGS SUPPLY & DEMAND

        3. 8.3.3 Africa/Mideast: Outlook

          $82.00

          1. Table | AFRICA/MIDEAST: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        4. 8.3.4 Turkey

          $177.00

          1. Table | TURKEY: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | TURKEY: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        5. 8.3.5 Iran

          $161.00

          1. Table | IRAN: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | IRAN: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        6. 8.3.6 South Africa

          $167.00

          1. Table | SOUTH AFRICA: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | SOUTH AFRICA: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

        7. 8.3.7 Other Africa/Mideast

          $192.00

          1. Table | OTHER AFRICA/MIDEAST: PAINT & COATINGS SUPPLY & DEMAND

          2. Table | OTHER AFRICA/MIDEAST: PAINT & COATINGS DEMAND BY MARKET & FORMULATION

    9. 9 INDUSTRY STRUCTURE

      $6,239.00

      1. 9.1 General

        $135.00

        1. Table | WORLD PAINT & COATINGS SALES BY COMPANY, 2015

      2. 9.2 Market Share

        $257.00

        1. CHART VIII-1 WORLD PAINT & COATINGS MARKET SHARE, 2015

      3. 9.3 Acquisitions & Industry Restructuring

        $141.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      4. 9.4 Cooperative Agreements

        $160.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      5. 9.5 Channels of Distribution

        $82.00

      6. 9.6 Competitive Strategies

        $82.00

      7. 9.7 Research & Development

        $82.00

      8. 9.8 Company Profiles

        $6,239.00

        1. 9.8.1 Akzo Nobel NV

          $392.00

        2. 9.8.2 Asian Paints Limited

          $175.00

        3. 9.8.3 Axalta Coating Systems Limited

          $201.00

        4. 9.8.4 BASF SE

          $293.00

        5. 9.8.5 Berger Paints India Limited

          $172.00

        6. 9.8.6 Berkshire Hathaway Incorporated

          $232.00

        7. 9.8.7 Carpoly Chemical Group Company Limited

          $82.00

        8. 9.8.8 Chugoku Marine Paints Limited

          $237.00

        9. 9.8.9 Cloverdale Paint Incorporated

          $186.00

        10. 9.8.10 Cromology

          $126.00

        11. 9.8.11 Dai Nippon Toryo Company Limited

          $93.00

        12. 9.8.12 Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Company KG

          $102.00

        13. 9.8.13 DuluxGroup Limited

          $176.00

        14. 9.8.14 Fujikura Kasei Company Limited

          $140.00

        15. 9.8.15 Grupo Orbis SA

          $82.00

        16. 9.8.16 Hempel A/S

          $285.00

        17. 9.8.17 Jotun A/S

          $252.00

        18. 9.8.18 Kansai Paint Company Limited

          $147.00

        19. 9.8.19 KCC Corporation

          $82.00

        20. 9.8.20 Lindéngruppen AB

          $129.00

        21. 9.8.21 Looser Holding AG

          $82.00

        22. 9.8.22 Masco Corporation

          $139.00

        23. 9.8.23 National Paints Factories Company Limited

          $82.00

        24. 9.8.24 Nippon Paint Holdings Company Limited

          $169.00

        25. 9.8.25 NOROO Holdings Company Limited

          $127.00

        26. 9.8.26 Pacific Paint Boysen Philippines Incorporated

          $110.00

        27. 9.8.27 PPG Industries Incorporated

          $681.00

        28. 9.8.28 Ring International Holding AG

          $109.00

        29. 9.8.29 RPM International Incorporated

          $394.00

        30. 9.8.30 Samhwa Paints Industrial Company Limited

          $82.00

        31. 9.8.31 Shawcor Limited

          $96.00

        32. 9.8.32 Sherwin-Williams Company

          $377.00

        33. 9.8.33 SK Kaken Company Limited

          $82.00

        34. 9.8.34 Teknos Oy

          $183.00

        35. 9.8.35 Tikkurila Oyj

          $140.00

        36. 9.8.36 TOA Paint Thailand Company Limited

          $119.00

        37. 9.8.37 Valspar Corporation

          $433.00

        38. 9.8.38 ZAO Empils

          $82.00

      9. 9.9 Other Companies Mentioned in Study

        $114.00

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