PPG Industries, a global provider of paints, coatings and specialty materials, projects that coatings sales will increase worldwide by 2022.
Headquartered in Pittsburgh, Pennsylvania, United States, the company recorded net sales of 16,802 million dollars in 2021, which represented a growth of 21.5% compared to 2020 and 10.9% compared to 2019.
Overall, the company expects strong global market growth in 2022 that is likely to be uneven by region and end use.
As 2022 progresses, PPG Industries forecasts demand for coatings products to benefit from a further economic reopening, a decrease in supply chain issues, general inventory rebuilding in many end-use markets, and healthy spending. of consumers.
It also expects continued recovery in the automotive refinish, automotive OEM and aerospace coatings businesses, which together comprised about 40% of the company’s sales before the pandemic, and where the company has extensive global businesses underpinned by advantageous technologies.
The company’s main research and development centers are located in Allison Park, Pennsylvania; Tianjin, China; Cleveland, Oh.; Springdale, Pennsylvania; Milano, Italy; Monroeville, Pennsylvania; Harmar, Pennsylvania; Ingersheim, Germany; Mary, France; Oak Creek, Wi.; I will add, Brazil; Amsterdam, Holland; Vantaa, Finland; Tepexpan, Mexico; Burbank, Calif.; Zhangjiagang, China; Cheonan, Republic of Korea; Wroclaw, Poland; Bangplee, Thailand; and Sylmar, Calif.
The company estimates that the increased supply and disruptions related to the Covid-19 pandemic and experienced in the fourth quarter of 2021 will continue in the first quarter of 2022, which will affect the Company’s ability to manufacture and deliver products.
It also anticipates more favorable economic conditions in the second quarter.
Specifically, PPG Industries projects that its regional growth in the United States and Canada will be led by automotive and aerospace OEM coatings, as both end-use markets continue their recovery to pre-pandemic levels of demand.
On the other hand, it expects automotive OEM industry builds in the region to be higher by a teen-average percentage compared to 2021.
At the same time, it forecasts architectural DIY demand to remain at more subdued levels through 2022 and similar to 2019.