Press Release

Paints & Coatings Market in Vietnam to Reach $ 585 Million by 2022

According to TechSci Research report, “Vietnam Paints & Coatings Market By Resin Type, By Technology, By Application, By Region, Competition Forecast & Opportunities, 2012 - 2022’’, paints & coatings market in Vietnam is forecast to cross $ 585 million by 2022. Rising demand from the automotive sector coupled with ongoing infrastructure development in the country such as construction of buildings, malls & industries are the prime factors pushing the demand for paints and coatings in Vietnam. Paints and coatings market in Vietnam has been broadly categorized into Decorative and Non-Decorative segments. Decorative paints segment accounts for the majority share in Vietnam, owing to rising construction activities and rapid urbanization. Expanding middle class population and rising consumer spending is resulting in increasing inclining of people towards adoption of decorative and luxurious items, which is boosting demand for paints and coatings in the country.

Browse 46 Figures spread through 80 Pages and an in-depth TOC on  "Vietnam Paints and Coatings Market"

On account for strong demand for paints and coatings in Vietnam, a large number of international paints and coatings manufacturers have set -up their manufacturing facilities in the country. For instance, major paints and coatings players such as Four Oranges Paint Company and Jotun Vietnam Co. Ltd. have set up their manufacturing facilities, and have consequently grabbed a substantial market share over the last few years. Other key manufacturers operating in Vietnam paints and coatings market include International Paint Singapore Pte. Ltd., TOA Vietnam Paint Co. Ltd., Nippon Paint (Vietnam) Co. Ltd., Oseven Corporation, Kova Group Ltd., Adora Paints (Vietnam) Co., Ltd., Hai Phong Paint Joint Stock Company and Kansai Alphanam Paint Co. Ltd.

Water based paints accounts for the majority market share due to strong demand for such paints from residential, commercial and automotive sectors. Additionally, water based paints offer a large number of beneficial properties such as low volatile organic and lead content, making them less harmful for human beings, due to which, demand for water borne paints and coatings in Vietnam has been witnessing a continuous increase.

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“Over the last few years, growing transport infrastructure, energy and utilities, commercial buildings and affordable housing projects have augmented paints and coating market in Vietnam. Additionally, government investments in public infrastructure and educational buildings as part of the 2016–2020 Development Plan is expected to provide a huge impetus to the country’s paints and coatings market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Vietnam Paints & Coatings Market By Resin Type, By Technology, By Application, By Region, Competition Forecast & Opportunities, 2012 - 2022’’ has evaluated the future growth potential of Vietnam paints & coatings market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Vietnam paints & coating market.

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