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Markets & companies, Coatings market

Paint and coatings industry in Australia to slowly grow

Thursday, 29 November 2012

Industry and market research company IBISWorld forecasts growth to be modest over the next five years in Australia.

Over 2012-13, the paint and coatings manufacturing industry in Australia is expected to post modest growth of 1.0 %. Source: Dieter Schütz/Pixelio.de

Over 2012-13, the paint and coatings manufacturing industry in Australia is expected to post modest growth of 1.0 %. Source: Dieter Schütz/Pixelio.de

Over 2012-13, the paint and coatings manufacturing industry in Australia is expected to post modest growth of 1.0 % as it continues to slowly regain some of the ground lost in 2008-09 and 2009-10 in view of higher housing investment levels - including renovations. "Consistent with the industry's mature status, growth is forecast to be modest over the next five years,” according to IBISWorld industry analyst Kosta Lev. This growth is considerably more positive than that of the past five years and reflects a general improving global economy and stabilizing commodity prices. Nanotechnology is forecast to spread through the industry as it is increasingly used to create new properties of coatings that enhance environmental protection and contribute to sustainability.

Environmental considerations as a new growth driver will help offset the impact of continued structural change within other mature or declining industries such as the local printing and automotive industries. While aggregate concentration for the Australian paint industries is considered high, it is slightly lower at the manufacturing level due to distinctive product and market segments. At this level, IBISWorld estimates that the industry has a medium level of market share concentration. Reflecting the characteristics of the worldwide industry, the Australian paint and coatings industry is dominated by the local subsidiaries of the top global players.

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