Annual Growth of Russian Paint Industry Projected at 7.1%
Although Russian GDP growth is beginning to soften, one of the major growth markets will be the rapidly growing automotive industry as foreign carmakers invest on Russian soil. It is expected that the level of car output in Russia will soar from 165,000 units in 2004 to 900,000 units by 2010, and that demand for automotive OEM coatings will multiply rapidly, possibly by as much as 30% per year from the present level of about 40,000 tons. There is a long waiting list for foreign car models in Russia, and with purchasing power rising, there will be associated increases in refinish consumption within the coming years.
A Profile of the Russian Paint Industry, Second Ed., can be purchased from IRL. Contact Terry Knowles at email@example.com or visit www.informationresearch.co.uk/.