New Study Profiles Eastern European Coatings Industry
LONDON – Market research firm IRL announced the launch of a new edition of its regional title, A Profile of the Eastern European Paint Industry. This fully updated report provides market data for 2013 and forecasts for 2018, and gives an overview of the paint industry trends across 10 countries in the region.
The total market for paints and coatings in Eastern Europe was over 2.8 million tonnes in 2013, and is forecast to rise to more than 3.3 million tonnes by 2018. This is equivalent to an average annual growth rate of 2.7%.
On a country-by-country basis, Russia is by far the largest national market, accounting for approximately 54% of total demand. The Russian paints and coatings market is forecast to grow at a modest rate due to the slowdown of the Russian economy caused by a drop in oil prices, high interest rates and Western sanctions.
The second-largest paint market of Turkey will enjoy the highest growth rate over the next few years, underpinned by increasing domestic demand for locally manufactured goods and the increasing income of the Turkish population.
Architectural and decorative coatings for consumer and professional uses account for around 59% of the total market, although this proportion varies from country to country. Growth is forecast to be the highest in the industrial wood and powder coatings segments. The growth in the demand for industrial wood coatings is influenced by the dominant market of Turkey, the furniture production of which is currently booming due to high domestic and international demand for Turkish-made furniture. The most attractive opportunities for the supply of powder coatings to the East European region exist, predictably, in Russia and Turkey, where the demand for them is, firstly, driven by their product advantages over their liquid analogues.
A Profile of the Eastern European Paint Industrygives an insight into the market changes in the past few years, as well as outlining the key trends affecting the decorative and industrial coatings segments for each individual country covered. The scope of the study covers Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Russia, Turkey and the Ukraine. It provides 2013 market data on nine mainstream paints 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 also presented for the year 2018.
For additional information about purchasing the report, visit www.informationresearch.co.uk.