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Paint and Coating Market Reports

IRL Lowers Projections for Mexican Coatings Market

Market Forecasts
January 4, 2015

LONDON – IRL is offering a new edition of its single-country report, A Profile of the Mexican Paint Industry. In the study, IRL examines Mexico’s coatings market independently and not as a part of a regional study on the Central American paint market, providing users with more in-depth information on the coatings market influences and trends. The fully updated second edition provides market data for 2013 and forecasts for 2018.

According to the report, the total consumption of paints and coatings in Mexico reached 870,000 metric tons in 2013, and is forecast to rise to more than 998,000 metric tons by 2018. This is equivalent to an average annual growth rate of 2.9%, which is somewhat lower than past projections.

The Mexican paint and coatings industry continues to perform strongly despite having encountered some hindrances, such as the deceleration of the economy and a slowdown in construction activity. With a total population of 120 million and rising purchasing power, Mexico attracts many foreign investors who then decide to settle and capitalize on the economy. This has attracted many multinational paint companies.

Together with Brazil, the Mexican paint and coatings industry is a key player in the Latin American region. The two major drivers for Mexico’s paint and coatings market are construction output and growth in local manufacturing businesses. The architectural market remains the largest of the coatings segments in Mexico, accounting for almost 70% of the country’s total demand (architectural coatings - 69%, industrial coatings – 31%). Despite the abnormally poor performance of the construction sector, there is a renowned housing deficit in Mexico, which is expected to encourage new-build construction and drive the demand for architectural coatings.

The overall prospects for the industrial coatings sector are also promising. General industrial, protective, automotive and marine coatings are all set to benefit from the government’s recently introduced energy reform. There is much speculation that the liberalization of the energy sector will attract large investments and reduce the costs of industrial energy. Furthermore, Mexico’s automotive production is booming, generating demand for both plastic and automotive coatings.

Both the government and Mexico’s Paint and Printing Ink National Manufacturers’ Association, ANAFAPYT, are attempting to encourage the use of environmentally friendly coatings. Today, most architectural coatings used in Mexico are water-based; however, on the contrary, solvent-based coatings dominate the industrial sector. Furthermore, the consumption of powder coatings, which inherently release no VOCs into the atmosphere, is growing swiftly. A key constraint to the development of new coatings technologies is the absence of strict environmental legislation in the country.

A Profile of the Mexican Paint Industrygives an insight into the market changes in the past few years, as well as outlining the key trends affecting nine mainstream paint and coatings segments:  architectural/decorative, industrial wood coatings, protective coatings, marine coatings, automotive OEM coatings, automotive refinishes, powder coatings, general industrial coatings and plastic coatings. Forecasts on these are presented for the year 2018 alongside market data for 2013.

For additional information about purchasing the report, visit www.informationresearch.co.uk.

KEYWORDS: Mexico

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