Kerry Pianoforte06.17.07
Fueled by an international construction boom, the global industrial coatings market has been experiencing healthy growth. According to Akzo Nobel's Global Coatings Report 2006, from 2001 industrial coatings have increased by an annual average of 2.3% and this is expected to increase to 5.9% by 2010. This growth has been almost entirely focused on developing markets, especially Asia and Eastern Europe, as key industries have shifted from traditional manufacturing regions in North America and Western Europe to these lower cost markets that are exhibiting fast paced growth.
"We have experienced a strong migration of the industrial business base to the lower labor cost regions of the world," said Terry Francek, business unit controller, Akzo Nobel's industrial finishes business unit. "Accordingly, we are expecting only modest growth in the mature markets of North America and Western Europe with above average growth opportunities in China, Vietnam, India, Russia and the overall Eastern Europe region."
Demand for industrial coatings is growing the fastest in Asian markets, particularly China and India agreed Shruti Singhal, North American region market mana
"We have experienced a strong migration of the industrial business base to the lower labor cost regions of the world," said Terry Francek, business unit controller, Akzo Nobel's industrial finishes business unit. "Accordingly, we are expecting only modest growth in the mature markets of North America and Western Europe with above average growth opportunities in China, Vietnam, India, Russia and the overall Eastern Europe region."
Demand for industrial coatings is growing the fastest in Asian markets, particularly China and India agreed Shruti Singhal, North American region market mana
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