The most recent report by ChemQuest Group, entitled "Global Paint and Coatings Industry Market Analysis (2015-2020)", showed the countries of Latin America collectively account for around 8% of volume and 7% of value of the total global coatings market in 2015. Brazil, Argentina, Mexico and Colombia represent about 80% of the total coatings demand. In 2015, coatings sales in Latin America reached $9.9 bn, with volume of around 3.5 bn L. Over the last five years, volume and value have increased by an average rate of 2.4%/y and 2.5%/y, respectively. Brazil makes up 31% and 38% of its value and volume, respectively, for the total Latin American coatings market. The country's volume is rising by just 0.1%/y, while its value is decreasing by 2.9%/y.
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