DUBLIN, November 13, 2013 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/zggd8c/a_profile_of_the) has announced the addition of the "A Profile Of The Eastern European Paint Industry" report to their offering.
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IRL is pleased to announce the publication of a new long-awaited edition of its title, A Profile of the Eastern European Paint Industry. This report has been developed and expanded upon from IRL's previous studies.
The report provides overviews and forecasts for ten national paint and coatings markets across the continent from Eastern Europe to the countries of Black Sea region, namely Armenia, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Russia, Turkey and the Ukraine. It focuses on and provides market insight into nine mainstream coating sectors.
Paint demand across these countries has been evaluated at 2.7 million tonnes, and with average market growth of 5.8% p.a., this can be expected to reach more than 3.6 million tonnes by the end of 2016. Very simple drivers underpin growth in coatings demand across the region, including:
- Growth in construction markets
- Growth in infrastructure investment
- Rising salaries and greater disposable incomes
- Growing industrial output
Turkey is enjoying the highest market growth rate. Key contributors to the future success of the Turkish market are growth in construction, maintenance and refurbishment projects carried out in the country, the strong position of the local powder coatings industry, growth in end-use industries such as automotive, electronics and home appliances, and expected growing demand for waterborne and low-VOC paints due to the accession of the TSE (Turkish standards body) into the CEN.
Russia, in the meantime, shows average growth in the architectural coatings market. Growing interest of customers in health, safety and environmental matters is one of the key drivers behind the growing popularity of firstly low-VOC and then water-based paints. However, the low quality/economy architectural paint segment still holds the largest market share. Industrial coatings are poised for higher than average growth over the forecast period, with the highest growth expected in the sectors of marine paints and coatings for bridges and tunnels. One of the key midterm marketing opportunities for the Russian coatings market will be the hosting of the Winter Olympic Games by the Russian city of Sochi in 2014.
Other sizeable markets include the Ukraine and Belarus. The Ukrainian paint demand is placed at about 230,000 tonnes, and the Belarusian paint demand is around half of this.
For more information visit http://www.researchandmarkets.com/research/zggd8c/a_profile_of_the
SOURCE Research and Markets