What is the situation on the Indonesian coatings market?
Recently, the Indonesian coatings market is improving after the Covid-19 pandemic, reports APCI. Market growth has increased from minus 7.5% to around 10-12% in 2021, but the expected growth this year is 5%, in line with Indonesia’s GDP growth. Ipotnews projects decorative paints to grow at a CAGR of 9.8% from 2021-2025. Most paint raw materials are still imported, as are resin raw materials.
Trends and challenges
The current trends will be towards healthier and environmentally friendly products such as lead-chrome-free, water-based, low odour and low VOC paints, underlines APCI. The most challenging issue is the price and supply of raw materials due to Covid-19 pandemic. Moreover, another challenge is the Russia-Ukraine war, which have led to global uncertainties such as the price of oil, which affects the price of solvents and other related products, and freight costs. The upcoming regulation is lead free paint.
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