IRL has released a new edition of its title, A Profile of the Russian Paint Industry, which contains market data for 2011 and forecasts for 2016. The research points to Russia having a decorative paint market of some 865,000 tonnes and an industrial coatings market of 610,000 tonnes. The future growth in the decorative sector will be driven by the overall national economic development, rising spending power of consumers and a growing demand from the construction industry, particularly from the residential building sector.
The industrial coatings sector has experienced high growth during the period of recovery from the 2009 financial crisis, especially in the automotive OEM and powder coatings areas. The sector is forecast to grow steadily at 6% p.a. in line with the growing end-user industries, and again stronger consumer spending power will underpin this.