Charles Bangert and Scott Detiveaux of Orr and Boss take a close look at this region in their article “State of the Asian Coatings Industry: 2013 and Beyond“ (page 38). This in-depth article offers insight into this important and fast growing region. Orr & Boss estimates that in 2012 the global coatings industry was $110 billion, with the Asia Pacific region representing approximately $44 billion. Within this region China is the largest producer of coatings with slightly more than $21 billion per year. India also continues to see dramatic growth in coatings production and has recently emerged as the second largest producer and consumer of coatings within Asia Pacific.
The article explores market trends and driving forces for growth in the coatings industry, identifies key players and offers insight into whether opportunities still exist for Western companies looking to gain a foothold in the Asian marketplace. This is certainly a must-read for all our readers.
Sherwin-Williams Acquisition of Comex Put on Hold
In an unexpected turn of events, Sherwin-Williams’ planned acquisition of Comex has been blocked. While many assumed the Sherwin-Williams acquisition of Comex was a done deal, on July 18 Mexico’s anti-monopoly agency ruled, in a three-to-two vote, against the acquisition. The ruling was based on the argument that the deal would leave S-W with approximately 60 percent of the Mexican paint and coatings industry, making it five to 10 times larger than its closer competitor. Our Latin America correspondent, Charles Thurston explores this unexpected turn of events in his article “Sherwin-Williams Deal for Comex Must Change” (page 22).
This will surely be a closely-watched issue by insiders in the paint and coatings industry. It will be interesting to see what Sherwin-Williams’ next move will be.