• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Mixing Equipment Directory

    The Wood Coatings Market

    Antimicrobial Coatings Market

    Additives Update

    Pigment Supplier Directory
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Video Bites
    Raw Materials & Equipment
    Suppliers News
    Live From Shows
    Top News
    AOC Announces EMEA Price Increase

    Mule-Hide Products Co. Introduces Seal-Fast Liqui-Flash

    IFS Coatings Breaks Ground on 70,000-Square-Foot Expansion

    Nouryon Agrees to Divest Salt Specialties Business to Salins Group

    PPG Appoints John Stephenson as Director, Acquisition Integration
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    Mule-Hide Products Co. Introduces Seal-Fast Liqui-Flash

    IFS Coatings Breaks Ground on 70,000-Square-Foot Expansion

    Conversation with Henning Kreis of Zeppelin Systems

    Nippon Paint Marine Wins Korea Export Award

    ECOS Paints Launches Lisa Tharp Colors
    Additives
    Binders
    Pigments
    Solvents

    AOC Announces EMEA Price Increase

    OQ Chemicals Increases Carboxylic Acids, Esters Prices

    Arkema Reports Full-year 2020 Results

    New Increase in Kynar Fluoropolymer Capacities at Arkema's Chinese Site

    Emerald Kalama Chemical Acquired by LANXESS
    Buyers Guide
    Company Capabilities
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Keim Additec Surface USA LLC

    Siltech Corporation

    Active Minerals

    Clariant Additives

    Pilot Chemical Company
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Surface Finishing Mexico 2021

    Cleveland Coatings Society Zoom Meeting

    Cleveland Coatings Society Zoom Meeting

    PCI Powder Coating Week

    Southern Society for Coatings Technology Annual Meeting and Technical Conference
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Keim Additec Surface USA LLC

    Clariant Additives

    Active Minerals

    Shepherd Color Company, The

    Pilot Chemical Company
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    India/Asia Pacific Reports

    Paint and Coatings Industry in Vietnam

    ...

    Paint and Coatings Industry in Vietnam
    Related CONTENT
    • 2019 Off to a Busy Show Season
    • AkzoNobel Announces 'Paint the Future' Challenge
    • Overview of Paint & Coatings Industry in Pakistan
    • NSF Sustainability Series: Environmental Product Declaration (EPD) Development and Verification
    • AkzoNobel Vehicle Refinishes Returns to SEMA Show
    Yogender Singh, India, Asia-Pacific Correspondent01.07.19
    With one of the fastest growing paint and coatings industries in the South East Asian region, Vietnam has attracted a number of regional and multinational paint and coatings producers to set up their manufacturing base in the country. With a current low per capita consumption of paint and coatings, Vietnam is expected to register a very steady growth of paint and coatings in coming years.

    Overview of the Vietnamese Paint & Coatings Industry

    Estimated to be approximately $620 million at the end of 2017, the Vietnamese paint and coatings industry has registered steady growth in recent years on account of vibrant growth in the architectural segment.

    Catered by leading multinational paints and coatings producer such as AkzoNobel, Jotun, Nippon Paints and regional players – 4 Oranges Company Limited and Toa Paints from Thailand – the Vietnamese paint and coatings industry has seen huge investments in capacity expansions in recent years.  Over the last few years, some of the domestic companies have become very competitive, particularly in the economy sub-segment of the industry. These include Kova, Dong Tam, Alphanam, Hoa Binh and Tison. These domestic companies dominate the market in smaller cities and rural areas, while MNC producers dominate in the larger cities.

    Steady economic growth in the current year and next few years are expected to give the Vietnamese paint and coatings industry a much-needed boost in the short and medium term. Vietnam’s economy is expected to grow nearly 6.8 percent during the current year, accompanied by broad macroeconomic stability before decelerating incrementally to 6.6 percent in 2019 and 6.5 percent in 2020, largely reflecting weaker external demand, the World Bank (WB) stated in a report released during the second week of December 2018. According to Taking Stock, the WB’s biannual economic report on Vietnam, the economic growth in the country has proven resilient despite weakening external conditions, driven mainly by strong domestic demand and a dynamic export-oriented manufacturing sector.

    Architectural Paint Segment

    Architectural paints account for about 62 percent of the Vietnamese paints and coatings market on a volume basis. The retail market for decorative paint and coatings in Vietnam is expected to grow from the current (approximately) VND 8.9 trillion in 2018 (about $382 million)  to approximately VND 10.7 trillion ($459 million) by 2021 as macroeconomic conditions continue to drive construction activity in the country.

    While the country currently has more than 800 cities nationwide, there are only two mega-cities – Hanoi and Ho Chi Minh City, home to some 30 percent of the total population.

    “Despite these two cities being the capital and the largest commercial city in Vietnam, the current development of these two cities is unable to accommodate the actual growth of their population and the economic expansion. Tremendous pressure has been placed on the infrastructure system and living spaces of those cities. The infrastructure system, in particular, has yet to meet the community’s demand for basic utilities and economic activities,” Tran Quoc Thai, deputy director of the Urban Development Department under the Ministry of Construction,  noted at a conference entitled “Smart city, Sustainable City” held by Dulux Professional, the paint and coating brand of AkzoNobel, earlier this year.

    Automotive Coatings

    Automotive coatings don’t have a huge share of the total paint and coatings market in Vietnam, due to a vibrant automotive industry in neighboring Thailand, Indonesia and China. Current low base of automotive production and significant imports of automobiles in the country have deprived the Vietnamese paints and coatings producers of the growth from second most important sub-segment of paint industry.

    November’s automobile sales continued the October growth momentum, according to a recent report by the Vietnam Automobile Manufacturers Association (VAMA), which listed November sales at 30,540 units, marking a month-on-month rise of six percent after a decline in the first three quarters of the year. Meanwhile, the total number of autos sold in January-September was about 186,400 units, down two percent over the same period last year. Of these, locally assembled automobiles posted a year-on-year decline of 11 percent and imported autos a decline of 34 percent.

    AkzoNobel Vietnam

    AkzoNobel is one of the largest paint and coatings company in Vietnam, with four manufacturing locations producing both decorative paints and performance coatings. AkzoNobel has been producing and selling architectural paint in Vietnam since 1992.  In 2015, AkzoNobel further invested in its performance coatings business in Vietnam and doubled the capacity at its powder coatings facility in Dong Nai.

    According to Pamela Phua, general director of AkzoNobel Vietnam, “Over the past 20 years, we have developed numerous new and exciting products and innovations that are commercially successful, environmentally friendly, and sustainable. Some examples include the popular Dulux Weathershield, Powerflexx, and Easyclean which are high-performance products using environmentally friendly ingredients.”

    Nippon Paint Vietnam

    Japanese company, Nippon Paint entered the Vietnamese paint and coatings market in 1994 by commencing production at its production facility in Bien Hoa Industrial Zone II in Dong Nai Province. In 2006, Nippon Paints started its second plant, Nippon Paint Vietnam Hanoi. Dedicated to automotive coatings, this facility supplied automotive coating products to major automotive producers in the country.

    In late 2014, Nippon Paint inaugurated its third production plant in the northern province of Vinh Phuc, the third of the Japanese paint manufacturer in the country. The facility, which cost the company about $14 million has an annual production capacity of 15,000 tons. The third plant has been set up to cater to domestic automobile and motorcycle manufacturing industry and enlarge production to encompass coil coating, general industrial-use coating, heavy-duty coating and other coating fields.

    Jotun

    Jotun entered the Vietnamese market in 1994 and its first plant was put into operation four years later. In 2004, Jotun expanded the plant by investing in advanced technology and increasing its capacity to 13 million liters of paint a year. In 2013, it injected an extra $8 million into its Vietnam operations, increasing its total investment pledge in the country to $16.1 million. In 2016, it further increased its yearly capacity to the current 45 million liters.

    Jotun Paints (Vietnam) will invest $70 billion to build its second plant in Vietnam. The company signed a contract in April 2018 with the Vietnamese authorities at the Hiep Phuoc Industrial Park in Nha Be District, to develop the new facility.

    According to a statement made at the ceremony by GM Johnny Kolding: “The new plant will cover 10 hectares and produce decorative, electrostatic, industrial, and marine paints and that the size of the new facility will be 10 times bigger than the current factory in neighboring Binh Duong Province. In its early years, the new factory will be able to turn out 80 million liters of liquid paint and 10 million liters of powdered paint a year.”

    Toa Vietnam

    The subsidiary of leading Thai paints and coatings producer, Toa is among the top three paints and coatings producers in Vietnam. The company, which started catering to the Vietnamese market in 1985 through exports from Thailand, set up its first production plant in 1998 in Vietnam. The company commenced production from its second plant at Binh Duong province in 2006 with an outlay of $6 million.

    With sales of 1.223 billion baht ($37 million)  in 2017 in Vietnam, company’s sales decreased by 8.1 percent in the year as compared to 1.332 billion Baht ($40.7 million) in 2016.

    4 Oranges

    4 Oranges, which operates a state of the art production facility in Long An Province (adjacent to Ho Chi Minh City) is among the leading paints and coatings producers in Vietnam. The company entered into paint industry in 2004 and operate through four distinct brands: Mykolor, Spec, Boss and Expo, catering to architectural and industrial segments. With a total sales of VND 1.73 trillion in 2017, the company claims to have more than 25 percent share of the domestic market. 4 Oranges has an installed capacity to produce 100 million liters of paintsand coatings and 60,000 tons of plastic powder per year.  
    Related Searches
    • conference
    • powder
    • performance coatings
    • paint
    Suggested For You
    2019 Off to a Busy Show Season 2019 Off to a Busy Show Season
    AkzoNobel Announces AkzoNobel Announces 'Paint the Future' Challenge
    Overview of Paint & Coatings Industry in Pakistan Overview of Paint & Coatings Industry in Pakistan
    NSF Sustainability Series: Environmental Product Declaration (EPD) Development and Verification NSF Sustainability Series: Environmental Product Declaration (EPD) Development and Verification
    AkzoNobel Vehicle Refinishes Returns to SEMA Show AkzoNobel Vehicle Refinishes Returns to SEMA Show
    Akzo Nobel N.V. Publishes Results for Q3 2018 Akzo Nobel N.V. Publishes Results for Q3 2018
    Axalta Industrial Wood Leader Presented at America Coating Association Axalta Industrial Wood Leader Presented at America Coating Association's 2018 Fall Meetings
    AkzoNobel Debuts New Finishes at METALCON 2018 AkzoNobel Debuts New Finishes at METALCON 2018
    Jotun: Sales Increased in 2nd Tertiary Jotun: Sales Increased in 2nd Tertiary
    South Africa Grapples with Skills Shortage South Africa Grapples with Skills Shortage
    Dr. Klaas Kruithof to Deliver Keynote Address at ACA’s 2019 CoatingsTech Conference Dr. Klaas Kruithof to Deliver Keynote Address at ACA’s 2019 CoatingsTech Conference
    GMI: Industrial Liquid Coatings Market Size worth More Than $70 Billion by 2025 GMI: Industrial Liquid Coatings Market Size worth More Than $70 Billion by 2025
    Jotun Launches Cargo Tank Coating Jotun Launches Cargo Tank Coating
    AkzoNobel Names its 2019 Color of the Year AkzoNobel Names its 2019 Color of the Year
    Coatings World 2018  International Buyers’ Guide Coatings World 2018 International Buyers’ Guide

    Related India/Asia Pacific Reports

    • Q&A with TPMA President Sarawut Rachanakul

      Q&A with TPMA President Sarawut Rachanakul

      Sarawut Rachanakul is the President of the Thailand Paint Manufacturers Association and CEO of JBP International Paint Company.
      Yogender Singh, India, Asia-Pacific Correspondent 02.12.21

    • Indian Industrial Coatings Market

      Indian Industrial Coatings Market

      Estimated to be approximately $1.9 billion, industrial paint accounts for 25 percent of total paint demand in India.
      Yogender Singh, India, Asia-Pacific Correspondent 12.07.20

    • The Paint and Coatings Industry  in Bangladesh

      The Paint and Coatings Industry in Bangladesh

      The nearly $471 million paint and coatings industry in Bangladesh has registered steady growth rates for the most of the last decade.
      Yogender Singh India, Asia-Pacific Correspondent 10.08.20


    • COVID’s Impact on the Indian Paint Industry

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 08.10.20

    • State of the Paint and Coatings Industry in Saudi Arabia

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 03.13.20

    • Raw Material Issues In Indian Paint Industry

      Raw Material Issues In Indian Paint Industry

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 01.20.20


    • The Paints and Coatings Industry  in the Philippines

      The Paints and Coatings Industry in the Philippines

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 09.03.19

    • Expansions in India Paint & Coatings Industry

      Expansions in India Paint & Coatings Industry

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 07.03.19

    • A Snapshot of AkzoNobel Vietnam

      A Snapshot of AkzoNobel Vietnam

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 05.10.19


    • Q&A with Jatuphat Tangkaravakoon, CEO of Toa Paints Thailand

      Q&A with Jatuphat Tangkaravakoon, CEO of Toa Paints Thailand

      ...
      Yogender Singh , India, Asia-Pacific Correspondent 03.08.19

    • Overview of Paint & Coatings Industry in Pakistan

      Overview of Paint & Coatings Industry in Pakistan

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 11.05.18

    • Indonesian Paint and Coatings Industry

      Indonesian Paint and Coatings Industry

      ...
      Yogender Singh, India, Asia-Pacific Correspondent 09.01.18


    • An Overview of Thailand’s  Paint & Coatings Market

      An Overview of Thailand’s Paint & Coatings Market

      ...
      Yogender Singh, India/Asia-Pacific Correspondent 07.03.18

    • Paint India 2018 – Show Report

      Paint India 2018 – Show Report

      Paint India offered a wealth of information on paint and coatings for this growing market.
      Yogender Singh, India/Asia-Pacific Correspondent 06.04.18

    • Coatings World’s Interview with Berger Paints

      Coatings World’s Interview with Berger Paints

      ...
      Yogender Singh, India/Asia-Pacific Correspondent 03.19.18

    Trending
    • Hempel Announces Global Price Increase
    • Hempel Hires Global Head Of Renewable Energy
    • AkzoNobel Completes Titan Paints Acquisition
    • Raw Material Price Increases Pile Pressure On Paint Manufacturers
    • Nouryon Agrees To Divest Salt Specialties Business To Salins Group
    Breaking News
    • Nouryon Agrees to Divest Salt Specialties Business to Salins Group
    • IFS Coatings Breaks Ground on 70,000-Square-Foot Expansion
    • Mule-Hide Products Co. Introduces Seal-Fast Liqui-Flash
    • AOC Announces EMEA Price Increase
    • PPG Appoints John Stephenson as Director, Acquisition Integration
    View Breaking News >
    CURRENT ISSUE

    February 2021

    • Mixing Equipment Directory
    • The Wood Coatings Market
    • Antimicrobial Coatings Market
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Low Levels of Vitamin D and Calcium Linked to COVID-19 Severity
    Probiotic Evidenced to Assist Digestive Recovery from a Complex Surgery
    AHPA Submits Comments to FDA on Proposed Traceability Rule
    Coatings World

    Latest Breaking News From Coatings World

    Chromaflo Technologies Adds Benjamin Woeste as Territory Sales Manager
    AOC Announces EMEA Price Increase
    Mule-Hide Products Co. Introduces Seal-Fast Liqui-Flash
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    NAMSA Acquires American Preclinical Services
    Quidel's QuickVue At-Home COVID-19 Test Earns EUA
    Memic Receives FDA Marketing Authorization for Hominis
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Fusion Pharmaceuticals Acquires IPN-1087
    Strata Oncology Unveils Strata PATH Trial
    Alimentiv Acquires McDougall Scientific
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    IT Cosmetics Supports Women’s Confidence
    Inter Parfums Reports a Strong Fourth Quarter
    Universal Engraving Announces New President
    Happi

    Latest Breaking News From Happi

    Croda International Acquires Alban Muller
    Givaudan Active Beauty Launches Omegablue
    Sozio Acquires Scentessence
    Ink World

    Latest Breaking News From Ink World

    Massilly North America Adds Koenig & Bauer MetalStar 3 Metal Decorating Press
    Hydrocarbon Solvents Market to Surpass $8.1 Billion by 2030
    Access Direct Mail Doubles Revenue with SCREEN's Truepress Jet520HD
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Abbott Label installs Domino K600i dual bar digital UV inkjet printer
    Crossmark turns to Eagle Systems for cold foil
    Maxcess launches Tidland PressureMax Airshaft Pressure Monitoring System
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Domtar Completes Sale of Personal Care Business
    Mitsui to Sell Chinese Nonwovens Business
    Dr. J's Disinfectant Wipes Approved for Distribution in CA
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    FDA Approves Accufix Surgical's Accu-Joint Hemi Implant
    FDA OKs Q-Collar Device to Protect Athletes’ Brains During Head Impacts
    SeaSpine Releases Reef TO (TLIF Oblique) Interbody System
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Comercial Kywi Improves Customer Service, Front-Store Operations with Zebra Mobile Solution
    Global Printed Circuit Board Market Projected to Reach $69.32 Billion by 2027
    Global Smart Glass Market to Register 6.8% CAGR Between 2021-28: Grand View Research

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login