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January 22, 2007 |
The paint market in Central and Eastern Europe is forecast to grow from 4.82 million tons to more than 7.7 million tons by 2012, according to the recently released 3rd edition of A Profile of the Central and Eastern European Paint Industry, published by Information Research, London, UK. The study, covering 21 countries, reveals that market growth is being driven by the straightforward factors of growth in construction markets and infrastructure investment, rising salaries and greater disposable incomes as well as growing industrial output.
Russia and Poland are the two largest markets in the region with Poland expected to overtake Russia as the largest market within the next two years. Factors contributing to the growing Polish market range from increased investment in manufacturing to the country's joint hosting of football's European Cup in 2012. According to the study, in some countries decorative coatings have taken on such significance that industrial coatings are being neglected. Consequently, some markets, such as automotive coatings, are being sustained through distributors and importers of coatings from the west. Demand for automotive OEM coatings is expected to continue rising.
www.informationresearch.co.uk
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