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AkzoNobel establishes decorative paints plant in Chengdu

China: AkzoNobel, a Netherlands based manufacturer of decorative paints, performance coatings and specialty chemicals announced that it has begun production at its newly opened plant for decorative paints in Chengdu, China. This is AkzoNobel’s fourth and largest decorative paints production plant in the country. Akzo Nobel co-invested USD57.2 million with Swire Group to set up manufacturing plants for both powder coatings and decorative paints. The company had announced it plans for this project in 2013 and the construction of the facility began in 2014. The plant will produce full range of AkzoNobel's decorative paint offerings and serve construction markets across Sichuan Province and nearby areas.

TechSci Research depicts that the increasing construction activities in the Chengdu region, will boost the demand for AkzoNobel’s decorative painting and powder coating products in future, thereby, influencing the demand for paints and coatings at global level.

According to TechSci Research report Global Pigments Market, By Type (Inorganic, Organic and Specialty), By Application (Paints and Coatings, Plastics, Printing Inks, Construction and Others), Competition Forecast and Opportunities, 2011 – 2021, the global pigments market size is estimated to cross US$ 34 billion by 2021. The demand for pigments is anticipated to be largely influenced by paints & coatings industry and construction sector, which are witnessing steady growth on account of rising purchasing power of consumers and expanding middle class population across the globe, especially in major developing economies.

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Increasing applications in infrastructure and real estate development projects, rising R&D activities and shifting trend towards sustainable building materials are anticipated to boost global construction chemicals market through 2027.

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