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Home  > Markets & companies  > Coatings market  > Paint market in Asia-Pacific to grow 7.9 %

Thursday, 04 June 2020
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Markets & companies, Coatings market

Paint market in Asia-Pacific to grow 7.9 %

Friday, 18 June 2010

According to IRL’s new study, the paint market in Asia-Pacific will top over 20 million tonnes in 2014.

Market forecast for paint demand in the Asia-Pacific region (2009 2014). Source: IRL

Market forecast for paint demand in the Asia-Pacific region (2009 2014). Source: IRL

The Asia-Pacific paint market has been rated at almost 13.9 million tonnes in 2009, and is forecast to grow by about 7.9 % per year in the period to 2014, when the market will top over 20 million tonnes. China and India are the major growth drivers in the region with paint demand in these two countries likely to continue growing at more than 10 % per annum in the coming years, according to IRL’s new study "A Profile of the Asia-Pacific Paint Industry." Three countries in the region have paint demand exceeding one million tonnes. These are China (approximately 7.5 million tonnes), India (1.8 million tonnes) and Japan (1.4 million tonnes). Some of the smaller but growing economies, i.e. Singapore, Vietnam, Indonesia and The Philippines, are also poised to hand opportunity to the coatings industry in the near- and longer-term.

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