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Wednesday, 18 September 2019
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Markets & companies, Coatings market

A profile of the Eastern European paint industry

Friday, 30 January 2015

IRL has launched a new edition of ist regional title "A Profile of the Eastern European Paint Industry".

Russia is by far the largest national market, accounting for approximately 54% of total demand. Source: IRL

Russia is by far the largest national market, accounting for approximately 54% of total demand. Source: IRL

This updated report provides market data for 2013 and forecasts for 2018 and gives an overview of the paint industry trends across 10 countries in the region.

Russia is the largest national market

The total market for paints and coatings in Eastern Europe was over 2.8 million tonnes in 2013, and is forecast to rise more than 3.3 million tonnes by 2013. This is equivalent to an average growth rate of 2.7%. On a country-by-country basis, Russia is by far the largest national market, accounting for approximately 54% of total demand. The Russian paints and coatings market is forecast to grow at a modest rate due to the slowdown of the Russian economy caused by a drop in oil prices, high interest rates and Western sanctions. The second largest paint market of Turkey will enjoy the highest growth rate over the next few years, underpinned by increasing domestic demand for locally-manufactured goods and increasing income of the Turkish population.

Industrial wood and powder coatings are growing

Architectural and decorative coatings for consumer and professional uses account for around 59% of the total market, although this proportion varies from country to country. Growth is forecast to be the highest in the industrial wood and powder coatings segments. The growth in the demand for industrial wood and powder coatings is influenced by the dominant market of Turkey, the furniture production of which is currently booming due to high domestic and international demand for Turkish-made furniture. The most attractive opportunities for the supply of powder coatings th the East European region exist, predictably, in Russia and Turkey, where the demand for them is, firstly, driven by their product advantages over their liquid analogues.

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