The latest research report from IRL Consulting in the United Kingdom shows that demand for coatings in Central and East Europe and India will grow at a relatively high rate, which will attract the attention of the coatings industry. According to the report, the coating industry in Central and Eastern Europe is in the stage of rapid development of demand and development. In many countries, there is a shortage of industrial coatings, among which the demand for decorative coatings has grown most rapidly.
According to IRL Consulting, in 2004, the capacity of the paint market in Central and Eastern Europe was about 3.04 million tons, and 7 major countries accounted for about 80% of the Central and Eastern European market. It is expected that the average annual growth rate of coating demand in central and eastern Europe will reach 7.4% in the next five years, and the demand will increase to 4.34 million tons in 2009. Rapid growth in demand is attracting multinational coatings companies to enter these emerging markets and accelerate the pace of business acquisitions; domestic paint companies in Central and Eastern Europe have also accelerated mergers and acquisitions. In addition to keen to acquire business in Central and Eastern Europe, multinational paint companies also favor direct investment. In coatings chemicals, raw materials for Central and Eastern Europe are mainly imported from Western Europe, because the quality of products is reliable, but Chinese paint raw materials are also very competitive in Central and Eastern Europe.
India is another area where demand for coatings has increased rapidly. Demand increased by 10% to 11% in 2004 and is expected to increase by 11% to 12% in 2005. Industrial coatings account for 30% of the Indian paint market, and the architectural coatings market will also grow rapidly. Due to the huge growth in demand for Indian paint, it is attracting foreign investors.
According to IRL Consulting, in 2004, the capacity of the paint market in Central and Eastern Europe was about 3.04 million tons, and 7 major countries accounted for about 80% of the Central and Eastern European market. It is expected that the average annual growth rate of coating demand in central and eastern Europe will reach 7.4% in the next five years, and the demand will increase to 4.34 million tons in 2009. Rapid growth in demand is attracting multinational coatings companies to enter these emerging markets and accelerate the pace of business acquisitions; domestic paint companies in Central and Eastern Europe have also accelerated mergers and acquisitions. In addition to keen to acquire business in Central and Eastern Europe, multinational paint companies also favor direct investment. In coatings chemicals, raw materials for Central and Eastern Europe are mainly imported from Western Europe, because the quality of products is reliable, but Chinese paint raw materials are also very competitive in Central and Eastern Europe.
India is another area where demand for coatings has increased rapidly. Demand increased by 10% to 11% in 2004 and is expected to increase by 11% to 12% in 2005. Industrial coatings account for 30% of the Indian paint market, and the architectural coatings market will also grow rapidly. Due to the huge growth in demand for Indian paint, it is attracting foreign investors.
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