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.