Research and Markets has announced the addition of the "A Profile Of The Eastern European Paint Industry" report to their offering.
The report provides overviews and forecasts for ten national paint and coatings markets across the continent from Eastern Europe to the countries of Black Sea region, namely Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Russia, Turkey and the Ukraine. It focuses on and provides market insight into nine mainstream coating sectors.
Paint demand across these countries has been evaluated at 2.7 million tons, and with average market growth of 5.8 precent p.a., this can be expected to reach more than 3.6 million tonnes by the end of 2016. Very simple drivers underpin growth in coatings demand across the region, including:
- Growth in construction markets
- Growth in infrastructure investment
- Rising salaries and greater disposable incomes
- Growing industrial output
The regional market is now dominated by two economies, Russia and Turkey, which together represent about 2.3 million tonnes of paints and coatings consumption for 2011. This translates into per capita paint use of 10.3 kg/head in Russia (population almost 143 million) and a similar per capita paint consumption of 10.2 kg/head in Turkey (population 78.8 million).
Russia, in the meantime, shows average growth in the architectural coatings market. Growing interest of customers in health, safety and environmental matters is one of the key drivers behind the growing popularity of firstly low-VOC and then water-based paints. However, the low quality/economy architectural paint segment still holds the largest market share. Industrial coatings are poised for higher than average growth over the forecast period, with the highest growth expected in the sectors of marine paints and coatings for bridges and tunnels.
Other sizeable markets include the Ukraine and Belarus. The Ukrainian paint demand is placed at about 230,000 tonnes, and the Belarusian paint demand is around half of this.
In the overall Eastern European market, the best opportunities for the marketing of industrial coatings have been identified in the areas of powder, marine and automotive OEM coatings.
Research and Markets Releases Report on Eastern European Paint Industry
Published January 13, 2014
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