The economic growth of Asia Pacific coating market

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The economic growth of the paint market in the Asia Pacific region in 2011 will be higher than expected

the transaction volume of the paint and paint market in the Asia Pacific region in 2010 was about US $48billion, reaching a market size of 150000 metric tons at a growth rate of 8% to 11%. This is mainly replaced every six months, with the help of the strong driving force of China and India as developing countries, as well as the economic growth of ASEAN countries such as Indonesia and Vietnam

However, industry experts from Frost & Sulli "van, a market research company, are optimistic that double-digit growth will be seen again in 2011. Sheila senathirajah, the company's project manager for chemicals, materials and food practices, said: the paint and coating industry is heavily dependent on the industries that end up using it. As an industrial development region, Asia has many important development areas that contribute to the development of the paint and coating market. " Experts predict that positive growth will be seen in related fields of coatings, such as decoration, industrial wood, shipbuilding, automotive coatings and protective coatings

Senatirajah also said, "looking forward to the future, we hope to see the growth of green coatings, especially energy-saving coatings in the Asia Pacific region, the reduction of volatile organic compounds emissions, and the significant transformation from solvent based coatings to water-based coatings."

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