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 considerable interest from global paint manufacturers. In Central and Eastern Europe, the coatings sector is currently experiencing rapid growth, with a particular emphasis on industrial and decorative coatings. Many countries in the region face a shortage of industrial paints, while decorative coatings have seen the most substantial increase in demand. According to the report, the paint market in Central and Eastern Europe had a capacity of approximately 3.04 million tons in 2004, with seven major countries accounting for around 80% of the regional market. The demand for coatings is expected to grow at an average annual rate of 7.4% over the next five years, reaching 4.34 million tons by 2009. This rapid expansion has prompted multinational paint companies to enter these emerging markets, accelerating their acquisition strategies. Local paint firms in the region are also engaging in mergers and acquisitions to strengthen their positions. In addition to acquiring local businesses, many international players are focusing on direct investment, particularly in the production of coating chemicals. Currently, raw materials for coatings in Central and Eastern Europe are largely imported from Western Europe due to their high quality and reliability. However, Chinese paint raw materials are gaining traction in the region, offering competitive pricing and quality that are increasingly appealing to local manufacturers. India is another key market where demand for coatings has been rising sharply. In 2004, the market grew by 10% to 11%, and it's projected to expand 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. This booming demand is attracting foreign investors looking to capitalize on the expanding opportunities in the country’s paint industry.

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