Central and Eastern Europe has become a new hot spot in the paint market. Its high growth rate has attracted the attention of the coatings industry.

The latest report from IRL Consulting in the UK highlights a significant surge in demand for coatings across Central and Eastern Europe as well as India, drawing increasing attention from global players in the coatings industry. In Central and Eastern Europe, the market is currently experiencing rapid growth, with a strong focus on both industrial and decorative coatings. Many countries in the region are facing a shortage of industrial paints, while the demand for decorative coatings has seen the most substantial increase. According to the report, the paint market in Central and Eastern Europe reached approximately 3.04 million tons in 2004, with seven major countries accounting for around 80% of the total market. Looking ahead, the demand is expected to grow at an average annual rate of 7.4%, reaching 4.34 million tons by 2009. This robust growth has prompted multinational coatings companies to enter these emerging markets, accelerating their acquisition strategies. Local paint manufacturers in the region are also engaging in mergers and acquisitions to strengthen their market positions. In addition to acquiring existing businesses, many international firms are showing interest in direct investments, particularly in the coatings chemicals sector. In Central and Eastern Europe, raw materials for coatings are predominantly imported from Western Europe due to their high quality and reliability. However, Chinese suppliers are increasingly gaining traction in the market, offering competitive pricing and quality that are beginning to attract local buyers. India is another key region witnessing rapid growth in coating demand. In 2004, the market expanded by 10% to 11%, and it is projected to grow by 11% to 12% in 2005. Industrial coatings make up about 30% of the Indian paint market, but the architectural coatings segment is also expected to see strong growth. The rising demand for paints in India is attracting foreign investors who are looking to capitalize on the expanding market. As a result, both domestic and international players are positioning themselves to capture a larger share of this dynamic and growing industry.

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