Everything You Ever Wanted to Know About Viscosity (But Were Afraid to Ask)


A fluid’s resistance to flow is its viscosity—the ratio of force required to overcome internal friction between layers of fluid (shearing stress) to the change in speed between layers of fluid (velocity gradient). Viscosity is also described as the internal resistance of a fluid to flow and may be considered as a measure of fluid friction. Data on a material's viscosity also gives manufacturers most valuable knowledge of its characteristics to help predict pumpability and pourability, performance in specific operations, and ease of handling. That’s why it serves an important purpose in the parameter of many industries.


A liquid’s viscosity is an important parameter since it can be used as an indicator of quality. In some instances, a thicker liquid being thought of as superior quality when compared to a thinner product. As it is proven that viscosity measurements are often the quickest, most accurate and most reliable way to analyze the most important factors, it is confirmed to affect product performance.

In different industries, measuring viscosity involves varied techniques and instruments, each dependent to specific products and processes. Selecting the best viscometer is one difficult task since this device varies from the simple to the complex. It is important that one has the “know-how and experience”.


The experimental characterization of a material's rheological behavior is known as rheology which is frequently used synonymously with rheometry, particularly by experimentalists. Theoretical aspects of rheology are the relation of the flow/deformation behavior of the material and its internal structure (e.g., the orientation and elongation of polymer molecules), and the flow/deformation behavior of materials that cannot be described by classical fluid mechanics or elasticity.

Since rheology is taken as one of the most effective methods for material characterization, it is frequently found in the area of quality control in which raw materials must be consistent from one batch to another. For this purpose, the indirect measure of product consistency and quality is flow behavior. Another cited importance of flow behavior studies is in obtaining a direct assessment of processability.  Just as how a high viscosity liquid requires a higher amount of force to pump than a low viscosity one, this relationship is useful in polymer synthesis, because it allows relative differences to be seen without making molecular weight measurements. Rheological measurements also play an important role in the course of the chemical reaction. This kind of measurements can be employed as quality check process during production or while monitoring and/or controlling an operation. Rheological measurements are also useful in following the course of a chemical reaction. Such measurements can be employed as a quality check during production or to monitor and/or control a process. Rheological measurements are ideal for application in quality control, as they allow to draw conclusions regarding both molecular structure and processability from their results. Using several examples from industrial practice, the capacity of rheological measurements to clarify quality problems like degradation effects or non-homogeneity is demonstrated.

Rheological measurements can detect even the most discrete of changes in structural properties, and are therefore fast & accurate methods of providing quality control for all aspects of the process. Whether it be screening incoming raw materials to discriminate batch to batch variance, avoiding extrusion problems such as melt fracture by mapping the critical shear stresses at which the phenomena occur, or determining thermal degradation in failed components caused by inadequate drying of material / excessive thermal history within the process, rheological measurements can provide this information in a fast & reproducible manner.

Now, "Is it possible that rheological parameter can be employed to correlate with an aspect of the product or process?" Before that question is broached, the anticipated types of chemical and physical phenomena affect the rheological response must be identified first. Then, gather the necessary preliminary rheological data to determine the flow behavior characteristic of the process under evaluation. This basically involves making measurements with whichever Viscometer is available and drawing some conclusions based on the descriptions of flow behavior that follow.

A deeper sense of understanding about the way components of the system interact is established once the type of flow behavior is identified. The obtained results may then be considered as “fit” to one of the mathematical models which have been successfully collated with the help of Brookfield instruments.

These mathematical models range from the simple to the very complex of which some basically involves plotting of data on a graph paper while others require calculations. Others may require the use of programmable calculators or even computers. This kind of analysis is the most effective way of getting the most from the gathered data and often has constant results which can be related to the product or process performance. Once a correlation has been established between rheological data and product behavior, procedure reversal becomes plausible and rheological data may then be used to predict process and performance.


Webster's Dictionary defined rheology as "the study of the change in form and the flow of matter, embracing elasticity, viscosity, and plasticity. Rheological properties can be measured from bulk sample deformation using a mechanical rheometer, or on a micro-scale by using a microcapillary viscometer or an optical technique such as Microrheology. The measurement of rheological properties is applicable to all materials – from fluids such as dilute solutions of polymers and surfactants through to concentrated protein formulations to semi-solids such as pastes and creams, to molten or solid polymers as well as asphalt.

In this chapter we will focus more on viscosity and further define rheology, the internal friction of a fluid, molecular attraction and its tendency to resist a flow. Brookfield Viscometer functions as a tool of rheology as it measures this type of friction. This chapter’s purpose is to help with familiarization of the Brookfield Viscometer as a rheological instrument and the different types of flow behavior. This instrument enables you to conduct a detailed analysis of (virtually) any fluid. This should be of great use to all Viscometer users, particularly those adhering to the Theoretical and Academic schools of thought on viscosity measurement.


Viscosity describes a fluid's internal resistance to flow and may be thought of as a measure of fluid friction. All real fluids (except superfluids) have some resistance to stress and therefore are viscous, but a fluid which has no resistance to shear stress is known as an ideal fluid or inviscid fluid. The greater the friction, the greater the amount of force required to cause this movement, which is called shear. Shearing occurs whenever the fluid is physically moved or distributed, as in pouring, spreading, spraying, mixing, etc. Highly viscous fluids, therefore, require more force to move than less viscous materials.


 Isaac Newton defined viscosity by considering the model represented in the figure above.

Explanation: Two parallel planes of fluid of equal area A are separated by a distance dx and are moving in the same direction at different velocities V1 and V2. Newton assumed that the force required to maintain this difference in speed was proportional to the difference in speed through the liquid or the velocity gradient.

To express this, Newton wrote: F/A = n (dv/dx)

The difference in velocity between adjacent layers of the fluid is known as a velocity gradient and is given by v/x, where v is the velocity difference and x is the distance between the layers. Velocity Gradient is also defined as the variation in velocity among the adjacent layers of the fluid. The difference in the flow of velocity between the adjacent layers of the fluid is measured in velocity gradient. It describes the shearing liquid experiences and is thus called shear rate. This will be symbolized as S in subsequent discussions. Its unit of measure is called the reciprocal second (sec-1).

The term F/A indicates the force per unit area required to produce the shearing action which is referred to as shear stress – S.

Its unit of measurement is dynes per square centimeter (dynes/cm2).

So viscosity, on simple terms, can be defined as:


Poise is the fundamental unit of viscosity. A material requiring a shear stress of one dyne per square centimeter to produce a shear rate of one reciprocal second has a viscosity of one poise, or 100 centipoise. Whenever you encounter viscosity measurements expressed in Pascal-seconds (Pa·s) or milli-Pascal-seconds (mPa·s) remember that these are units of the International System and can be sometimes used in preference to the Metric designations. One Pascal-second is equal to ten poise; one milli-Pascal-second is equal to one centipoise.

Newton’s viscosity law states that, the shear stress between adjacent fluid layers is proportional to the velocity gradients between the two layers.

The ratio of shear stress to shear rate is a constant, for a given temperature and pressure, and is defined as the viscosity or coefficient of viscosity.


A fluid, whose viscosity does not change with the rate of deformation or shear stain (V/Y), is called Newtonian fluid. A fluid which obeys Newton’s law of viscosity is termed as Newtonian fluid.


Explanation: The graph shows that at a given temperature the viscosity of a Newtonian fluid will remain constant regardless of which Viscometer model, speed or spindle is used for measurement. Brookfield Viscosity Standards are Newtonian within the range of shear rates generated by Brookfield equipment; that's why they are usable with all our Viscometer models. Newtonians are considered the easiest fluids to measure. However, they are not as common as that of more complex group of fluids, which are the non-Newtonians.


A non-Newtonian fluid is broadly defined as the type of liquid whose viscosity changes with the rate of deformation or shear stain (V/Y) and does not obey Newton’s law of viscosity. The viscosity will, therefore, change as the shear rate is varied. This measured viscosity is called the apparent viscosity of the fluid and is accurate only when explicit experimental parameters are furnished and adhered to.

Non-Newtonian fluids have viscosities that change according to the amount of force that is applied to the fluid. The viscosity changes as the force applied changes. At each specific rate of shear, the alignment may be different and more or less force may be required to maintain motion.

In case of non-Newtonian flow behavior, it is differentiated based on the way a fluid's viscosity changes in response to fluctuation in shear rate. The most common types of non-Newtonian fluids include:



This type of fluid is characterized by its rate of flow (as of solutions of rubber or gelatinous substances) increases faster than normal in relation to the shearing stress. This type of fluid will display a decreasing viscosity with an increasing shear rate, as shown in the figure below.

The most common examples of the non-Newtonian fluids, pseudo-plastics include emulsions, paints, and many types of dispersion. This type of flow behavior is sometimes called shear-thinning.



Increase in viscosity and setting to a solid as a result of deformation by expansion, pressure, or agitation; see the figure below. Although uncommon versus pseudoplasticity, dilatancy is frequently observed in fluids containing deflocculated solids of high-level, such as corn starch in water, and sand/water mixtures. This is also referred to as shear-thickening flow behavior.


A type of fluid which behaves as solid under static conditions. Flow is induced only after a certain amount of force is applied to the fluid; this force is called the yield value. Cite tomato catsup as a perfect example; its yield value will often make it refuse to pour from the bottle unless the bottle is shaken or struck, allowing the catsup to spurt freely. Once the yield value has been exceeded and flow begins, plastic fluids may then display Newtonian, pseudoplastic, or dilatant flow characteristics. Please see the figure below.

After discussing the effect of shear rate on non-Newtonian fluids, we’ll proceed to the question: “What happens when the element of time is considered?” This question will then lead us to the examination of two more types of non-Newtonian flow: thixotropic and rheopectic.


There are types of fluid that display a change in viscosity when under time constraints of constant shear rate. There are two categories:


This is a reversible behavior of certain gels that liquefy when they are shaken, stirred, or otherwise disturbed and reset after being allowed to stand.


This is, on the other hand, the opposite of thixotropic behavior, the rheological phenomenon in which certain fluids solidify more quickly when subjected to shear.

The time element is extremely variable; under conditions of constant shear, some fluids will reach their final viscosity value in a few seconds, while others may take up to several days. Both may occur in combination with any of the previously discussed flow behaviors, or only at certain shear rates.

Rheopectic fluids, such as some lubricants, thicken or solidify when shaken.

Some liquids behave differently with stress (application of force) over time. Rheopectic liquids increase in viscosity as stress over time increases. Thixotropic liquids decrease in viscosity as stress over time increases.

When subjected to varying rates of shear, a thixotropic fluid will react as illustrated in the figure below. A plot of shear stress versus shear rate was made as the shear rate was increased to a certain value, then immediately decreased to the starting point. Note that the up and down curves do not coincide. This hysteresis loop is caused by the decrease in the fluid's viscosity with increasing the time of shearing. Such effects may or may not be reversible; some thixotropic fluids, if allowed to stand undisturbed for a while, will regain their initial viscosity, while others never will.


A flow can be Laminar, Turbulent or Transitional in nature.

The flow of a fluid when each particle follows a smooth path, paths which never interfere with one another is the called laminar flow: One result of laminar flow is that the velocity of the fluid is constant at any point in the fluid. Laminar flow is also described as the smooth, orderly movement of a fluid, in which there is no turbulence, and any given sub-current moves more or less in parallel with any other nearby sub-current. This flow type is common in viscous fluids, especially those moving at low velocities.

Considering a number of factors, beyond which an actual transfer of mass occurs, there is a certain maximum speed at which one layer of fluid can move in relation to another and it’s called turbulence. Turbulent flow is a chaotic form of fluid transport in which velocity components randomly fluctuate. This is displayed when molecules or larger particles jump from one layer to another and dissipate a substantial amount of energy in the process. This includes a rapid variation of pressure and flow velocity in space and time.  In contrast to laminar flow, the fluid no longer travels in layers and mixing across the tube is highly efficient. The net result is that a larger energy input is required to maintain this turbulent flow than a laminar flow at the same velocity.

Aside from the velocity at which the layers move, the point at which laminar flow transforms into turbulent flow depends on other factors. A material's viscosity and specific gravity together with geometrical dimensions of the sample container and Viscometer spindle, they all contribute to this kind of transition.

It is uncommon for someone to encounter turbulent flow unless when measuring viscosities lower than 15 cP with an LV series Viscometer or 85 cP with other models. Fluids with a higher viscosity of are less likely it is to experience turbulence. In any event of turbulence, while measuring low viscosity fluids, it is often eliminated by using the UL Adapter™ accessory.

In general, dilatant materials will show a consistency in increasing its viscosity with increasing shear rate; turbulent flow is characterized by a relatively sudden and substantial increase in viscosity above a certain shear rate.


Viscosity data often functions as a "window" through which other characteristics of a material may be observed. Viscosity is more easily measured than some of the properties that affect it, making it a valuable tool for material characterization. Earlier in this p we discussed various types of rheological behavior and how to identify them. Having identified a particular rheological behavior in a material, you may wonder what this information implies about its other characteristics. This section, based on information gleaned from years of customer experience, is intended as a "tickler" to get you thinking about the mysteries your Viscometer can help you solve.



With changes in temperature, there is typically a corresponding effect on the rheological behavior of a material. Temperature is among the obvious factors that impact viscosity. There are materials that are sensitive to temperature that a minimal variation may result in a significant change in viscosity. In the evaluation of materials, it is important to consider the effect of temperature variations in the processing.

Shear Rate

Shear viscosity is the ratio between the pressure exerted on the surface of a fluid, in the lateral or horizontal direction and the change in velocity. Fluid flow is highly dependent on the viscosity of fluids. At the same time for a non-Newtonian fluid, the viscosity is determined by the flow characteristics. It would, for example, be disastrous to try to pump a dilatant fluid through a system, only to have it go solid inside the pump, bringing the whole process to an abrupt halt. While this is may be an extreme example, the importance of shear rate effects should not be underestimated.

Viscosity measurements should then be made at shear rates as close as possible to the estimated values. It is critical to know its viscosity when a material is to be subjected to a variety of shear rates in processing or use. If unknown, an estimate should be made.

For Newtonian liquids in which the molecules interact in thermodynamic equilibrium, the viscosity is an intrinsic material parameter and is independent of the shear rate. Suspending small particles in a Newtonian liquid can bring about non-Newtonian behavior. In this case, viscosity may vary with shear rate, and in the field of rheology, where the term viscosity is used more broadly, the viscosity is usually given as a function of shear rate. However, the extension of the term viscosity to non-Newtonian fluids comes at the cost of some of the rate range of the Viscometer. In this case, it is necessary to make measurements at several shear rates generality of the Newtonian viscosity.

Although not considered as the most accurate method for acquiring this information, it is often the only alternative available when the projected shear rates are very high. It is, in fact, always advisable to make viscosity measurements at different shear rates to detect rheological behavior that may have an effect on a process or application. Where shear rate values are unknown or not important, a sample plot of viscosity versus RPM will often suffice.

There are several examples of materials that subjected to/are affected by wide variations in shear rate during processing and applications of which includes: coatings, paints, cosmetics, liquid latex, certain food products, and even blood in the human circulatory system. The succeeding tables will provide examples of shear rates in variation.

Contributed by Gus Gadea
How To Choose An Industrial Mixer

Mixing is one of the most common industrial processes practiced in many industries including chemicals, plastics, metals, minerals, food processing, etc. Industrial mixers often play a vital role in handling difficult materials even when in large quantities. With the market having an overflowing number of industrial machineries to choose from, looking for the right equipment may seem to be overwhelming. In this article, we will discuss the main factors to consider to choosing the right mixer.

To narrow down the options, here are the things to remember when deciding which industrial mixer matches your needs.

Determine the container capacity. Explore the batch height, the tank’s height and the diameter of your target mixing vessel. This means that you should identify if your mixing equipment is capable of handling your desired volume of materials.

Identify the type of Liquid Viscosity you’re using. Different kinds of liquids show different characteristics when force is applied. When it comes to selecting a mixer, it is important to properly classify the types of liquids that will be used in your application, as well as the viscosity. Below are the 4 most common behaviors of liquid:

  •       Thixotropic Liquids- These liquid’s viscosity decreases when agitation increases. Example includes peanut butter, inks, glue, shortening, tars, and soaps.
  •       Dilatant Liquids: Viscosity of the fluid increases when shear is applied. For example: candy compounds, clay, and slurries.
  •       Pseudoplastic Liquids: This is the opposite of dilatant; the more shear applied, the less viscous it becomes. Common pseudoplastic liquids include ketchup, paints, latex, gels and lotions.
  •       Newtonian Liquids: Regardless of mixing speed, a Newtonian fluid’s viscosity remains constant. These fluids have a linear relationship between viscosity and shear stress. May include hydrocarbons, mineral oils, and water.

Measure your torque requirements. With the type of liquids you’ll be working with in mind, consider the amount of rotational force needed for your mixer's motor. This is typically measured in in lbs. or ounces.

The efficiency of the motor in your mixer which can be expressed by:

  •       hp = (in-oz x rpm)/1,008,400

RPM & Impeller Size. This is important since a slight adjustment in the diameter of the impeller can affect the required power for mixing dramatically. This is derived by using this formula:

  •       Power = rpm3 x dia5 (rpm to the 3rd power times diameter to the 5th power)

Know which type of power supply works best for you. Determine which type of mixer is electrically safe or practical in your work area.

When considering the use of an industrial mixer, knowing what you'll need and you'll be using it with, is extremely important. It also pays to talk to some experts to prevent costly mistakes and unexpected mixing results. With proper guidance, you'll eventually find out that choosing the right equipment isn't difficult as you initially thought it would be. For more information, call one of our sales associates at 1888IMBOTEC.

Contributed by Gus Gadea

What are Paints & Coatings?



The Paint & Coatings manufacturing market consists of both waterborne and solvent-borne producers. For the sake of understanding where certain pumps fit into the production of paint and coatings, we will segment the market into categories. Either type of paint-and-coating producer may use the same binders, pigments and additives, but the main difference is finding the right pump to do the job right in a “mostly water” or “mostly solvent” process.

There are generally three ways to categorize paint and coatings:

1. End Use Characteristics

2. Binder Type

3. The Physical Makeup (Water-borne or solvent-borne) of the paint or coating


Defining Paint


According to the National Paint & Coatings Association, paint is a term used to describe a group of emulsions generally consisting of pigments suspended in a liquid medium (such as oil or water) for use as decorative or protective coatings.


Paints Generally Fall into two basic Categories:


Waterborne Paint (35% of Global Production)

• Water-based emulsion paints are made with synthetic binders such as 100% acrylic, vinyl acrylic, terpolymer or styrene acrylic, providing a stable emulsion of polymers and pigment in water.

Solvent-Borne Paint (55% of Global Production)

• Oil and/or alkyd-based paints containing drying oil, oil varnish or oil-modified resin as the film-forming ingredient.

The manufacture of paint and coatings includes four basic components:



The Coalesence Process

Film formation of latex paint occurs when the paint is applied and the water evaporates. During this process, the particles of pigment and binder come closer together. As the last vestiges of the liquid evaporate, capillary action draws the binder particles together with great force, causing them to fuse and bind the pigment into a continuous film in a process called coalescence.



The binder is the most important component of the paint. A binder is the liquid resinous part of a paint that holds all of the paint’s constituents into a solution which, after application onto a surface, enables the paint to cure into a film. Binders “bind” the pigment together, providing adhesion, integrity and toughness to the dry paint film. A paint-and-coating manufacturer will usually buy a binder polymer material that is already in vehicle form. The many types of film forming polymer resins used in binders include acrylics, alkyds, aminoplasts, cellulosics, epoxies, chloro- and fluorocarbons, natural plant oils, phonetics, polyesters, polyurethanes, silicones and vinyls.

Water / Solvents


Liquid, also called the “carrier”, is the portion of the paint that provides a medium to get the pigment and binder from the container onto the surface that is to be painted. A solvent is a liquid that is able to lower the viscosity of a binder sufficiently to allow application onto a substrate and then evaporate to permit the formation of a paint film. 



A "true solvent" can rapidly dissolve the viscosity of the binder. Within limits, a "diluent" solvent is able to reduce viscosity, but it simultaneously weakens the solvent powder of the true solvent. Various solvents can function as true solvents or diluents, depending on the particular type of binder (resin). The terms "thinner" and "reducer" are inexact and refer to any liquid used in mixing paints.

Selecting a solvent involves many parameters. The two most important are solubility and evaporation rate. The solubility is the ability to dissolve a binder. The evaporation rate is of crucial importance because the solvent needs to leave the paint at an ideal rate to allow the paint film to form properly. When paint is applied at a given thickness and then dries, the proportion of solids and liquid determines how thick the dried paint film will be. Thus, a higher solids content can provide a thicker dry paint film, which results in better hiding and durability.




Pigments are tiny solid particles that are used to enhance the appearance by providing color and/or to improve the physical (functional) properties of the paint. Pigments used to provide color generally range from 0.2 to 0.4 microns in diameter. Functional pigments are typically 2-4 microns in diameter, but they may be as large as 50 microns.

There are two primary categories of pigments: prime and extender pigments 


• Prime pigments provide whiteness and color while also being the main source of hiding capability.

• Titanium dioxide is the predominant white pigment due to its exceptional ability to scatter light and provide whiteness and hiding in flat or glossy paint, whether it is wet, dry or rewetted.

• Color pigments provide color by selective absorption of light and fall into two main types

Organic pigments - include the brighter colors but are not highly durable in exterior use. 

Inorganic pigments - are not as bright as organic colors but are the most durable exterior pigments.

• Color pigments are compounded into liquid dispersions called colorants, which are added at the point of sale to tint bases, and to white paints designed for tinting. In the factory, color pigments are used as dry powders and in liquid colorant form to make prepackaged color paints.


• Provide bulk at a relatively low cost.

• Possess less hiding capability than titanium dioxide, but they positively impact other properties, such as sheen, scrub resistance and exterior color retention.

• Some commonly used extenders are clay, silica and silicates, diatomaceous silica, calcium carbonate, talc and zinc oxide.

• Clays, or aluminum silicates, are used mainly in interior paints.

• Calcined clay provides added hiding capabilities.

• Delaminated clay enhances stain resistance.

• Silica and silicates provide scrub and abrasion resistance, key characteristics needed in exterior paints.

• Diatomaceous silica—a form of hydrous silica—is used to control sheen.

• Calcium carbonate, also called chalk, is a general-purpose pigment used in all types of paint.

• Talc is a soft general-purpose extender used in interior and exterior paints.

  • Zinc oxide is a reactive pigment helpful with mildew resistance, corrosion inhibition and stain-blocking. A heavy concentration of zinc particles allows them to touch each other, thereby providing continuous conductivity in order to provide sacrificial cathodic protection.



Additives are defined as low-level ingredients that provide specific paint properties such as mildew resistance, defoaming, and good flow and leveling.

A list of additives used in the manufacture of latex paints includes:

 Thickeners or Rheology Modifiers

• Rheology is the science of how a liquid tends to flow. These additives provide adequate viscosity so the paint may be applied properly, and they impact how thick the paint goes on, and how well it flows when applied.

• Modern rheology modifiers help latex paints resist splattering, flow out smoothly and resist spoilage.



• These specialized soaps stabilize the paint so that it will not separate or become too thick to use.

• Keep pigments dispersed for maximum gloss and hiding.

• Help “wet” the surface being painted so the paint won’t move about when it is applied.

• Provide compatibility with tinting colorants so that the correct color will be obtained.

Biocides– Two types are used in latex paints:

• Preservative - keeps bacteria from growing in the paint.

• Mildewcide - discourages mildew from growing on the surface of the paint after it has been applied.


• Additives that break bubbles as they are formed in the paint when the paint is mixed in a factory, stirred or applied to a surface.

Co-Solvents (Most co-solvents are volatile organic compounds)

• Additional liquids, other than water, that aid the binder in forming a good film when applied down to the minimum application temperature.

• Help the liquid paint resist damage if frozen.

• Enhance brushing properties, including flow and the time the paint can be applied and worked before it sets up, known as “open time.”

Other additives produce certain desired characteristics in paint, such as the thixotropic agents that give paint its smooth texture, driers, anti-settling agents, anti-skinning agents, defoamers, and others that enable paint to cover well and endure. Additives can also include antifloating agents, antimicrobial agents, antioxidants, catalysts, flame retardants, friction reducers, plasticizers and thickeners.

Specular Component Included (SCI) vs. Specular Component Excluded (SCE)
The texture and glossiness of your samples may make them appear brighter, duller, lighter, or darker. This is because an object's surface condition directly affects how the wavelengths of light reflect off that object and how our eyes will perceive its appearance.
2017 Global Top 10 Paint and Coatings Companies
Annual ranking of the top 10 global coatings manufacturers, based on last year’s sales figures.
Argentine light-vehicle registrations grow 4.7% y/y in April
Argentine light-vehicle registrations increased 4.7% year on year (y/y) to 61,731 units in April, according to the country's ACARA dealer organisation. The month's performance brings the year-to-date gain down to 32.9% y/y. IHS Markit forecasts full-year growth of 10.4% y/y.
Paint and Coatings Industry Overview
The coatings industry is one of the most heavily regulated industries in the world, so producers have been forced to adopt low-solvent and solventless technologies in the past 40 years, and will continue to do so. The number of coatings producers is large, but most are regional producers, with only 10 or so large multinationals. Most of the large multinationals have expanded operations in fast-growing areas like China. The most noteworthy trend has been consolidation, especially among the largest producers. After a decade of steady growth, production in Asia accounts for 50–55% of the total. Production and consumption are nearly identical in each country, as trade is limited to relatively small quantities of high-value product. Generally, coatings grow in tandem with the economy, so growth will continue to focus on the developing world.