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Thursday, 19 September 2019
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Markets & companies, Coatings market

BRIC countries play major role in paints and coatings market

Monday, 21 May 2012

A new report on BRIC paints & varnishes market forecasts & analyzes market trends up to 2016.

The BRIC countries have play a major role in the growth of the paints and coatings market according to Timetric’s latest report. Source: abacus - Fotolia.com
The BRIC countries have play a major role in the growth of the paints and coatings market according to Timetric’s latest report. Source: abacus - F...

The BRIC countries have played a major role in the growth of the paints and coatings market in recent yaers, as population growth, rapid urbanization, increasing disposable income and focus on nuclear or smaller families have all combined to considerably raise demand for residential construction.

The paints and varnishes market in the BRIC (Brazil, Russia, India and China) countries valued over USD 29 billion in 2011, representing an increase of 56.3% from the value recorded in 2007. According to Timetrics latest report "Paints and varnishes in BRIC – market opportunity and environment, analyses and forecasts to 2016” the market recorded positive annual growth rates every year during the review period (2007-2011), apart from in 2009 when it declined by 3.2% due to the adverse impact of the global economic crisis. Water-based paints and varnishes accounted for the largest share of the BRIC paints and varnishes market in 2011 with a market share of 46.4%. The second-largest category in the market was solvent-based paints and varnishes, which recorded a market share of 26.6%. China was the largest paints and varnishes market among the BRIC countries during the review period. The Chinese paints and varnishes market grew rapidly and recorded a CAGR of 16.90% during the review period.

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