Dynamic shift in the APAC decorative coatings market in 2012
Wednesday, 15 February 2012
According to market research firm Frost & Sullivan the Asia Pacific decorative coatings market is likely to reach USD 18.20 billion by 2012.
Growth in the Asia Pacific decorative coatings market is expected to be stable with a compound annual growth rate of 13.5 %.
Source: tiero-Fotolia.com
The Asia Pacific (APAC) decorative coatings market has seen steady progress since 2010, outperforming the global decorative coatings market in volume and value. This surge in volume can be explained by the heavy investments in infrastructure developments by populous countries such as China, India, Indonesia and Vietnam. New analysis from Frost & Sullivan, "Competitive Benchmarking of Decorative Coatings Companies in Asia Pacific” recorded market revenue of USD 14.1 billion in 2010, which is likely to reach USD 18.2 billion by 2012. Growth is expected to be stable with a compound annual growth rate of 13.5 %. Leading decorative coatings companies are eyeing the APAC region, as it shows tremendous potential with double-digit growth rates. Meanwhile, the equally low domestic consumption indicates vast untapped potential.
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