Still, Latin America's largest paintmaking country continues to attract investments.
While Brazil is still contending with the economic turmoil caused in January by the devaluation of its currency, the real, experts say it is making a faster recovery than expected. The largest economy in South America, Brazil remains a major influence on the region. For paintmakers, this is good news as Brazil continues to attract investments, particularly from car makers, that will call for greater volumes of high-end products.
"When you look at Brazil long term it is stable ... because of the size of the economy and the technological advances here," says Dilson Ferreira, executive president of São Paulo-based ABRAFATI, the Brazilian paint and coatings association that sponsored the 6th International Paint Congress held in September in São Paulo.