According to a research report published last month by the US growth consulting firm Frost & Sullivan, the decorative paint market in the region has grown significantly, benefiting from the favorable economic development situation in the emerging countries in the Asia Pacific region and the ongoing industrialization process. China, India The market for decorative coatings in countries such as Indonesia, Vietnam and other countries has maintained a noticeable growth momentum due to economic growth and deserves investors’ attention. Decorative paint is the largest market share in the paint market in the Asia Pacific region. In 2010, decorative paints in the region accounted for 26.3% of the paint market's overall share, while the share of the market's second largest submarket paint protective paint accounted for 13.1%. Other submarkets include powder coatings, wood coatings, automotive refinishes, and protective coatings. Many countries in the Asia Pacific region are in the process of vigorous industrialization, which has also led to the continuous development of the paint market. In 2010, the total sales of the decorative coatings market in the Asia Pacific region reached US$14.1 billion, a year-on-year increase of 13.5%. The report predicts that by 2012, the decorative paint market in the Asia Pacific region is expected to grow to 18.2 billion U.S. dollars. Among them, the decorative paint market in China, India, Indonesia, and Vietnam is most favored due to the rapid economic development of the country. China is the largest submarket in the decorative paint market in the Asia Pacific region, accounting for over 35% of the entire Asia Pacific market in 2010. According to Frost & Sullivan, from 2010 to 2012, the average annual growth rate of China's decorative paint market is above 25%, which is the most powerful driver of the decorative paint market in the Asia Pacific region. Although the market share of Indian decorative paint lagged behind Japan's third, it also accounted for 17% of the market in the Asia-Pacific region. The consulting firm expects that the average annual growth rate of this market in India from 2010 to 2012 will be above 10%, and the market growth is strong. Although the market share of Indonesia and Vietnam is less than 10% of the Asia-Pacific market as a whole, the rapid growth of the decorative paint market in both countries is equally impressive. It is predicted that the average annual growth rate of the former from 2010 to 2012 is close to 15%, and the latter's average annual growth rate is close to 20%. In addition, the continuous improvement of environmental awareness in the Asia-Pacific region and the strong demand of the middle class have promoted the development of environmentally friendly decorative coatings. This will be a new driver for the decorative paint market in the region. There are 32 large companies in the decorative paint market in the Asia-Pacific region, with the total share of the top 5 accounting for 32.2%. Among them, Nippon Paint and Akzo Nobel have the most extensive distribution in the decorative paint market in the Asia-Pacific region and occupy a considerable share in many countries. Nippon Paint is one of the most famous paint manufacturers in the Asia-Pacific region and one of the largest paint manufacturers in the world. As a 100-year-old company, it ranked first in the Asian Pacific decorative paint market, accounting for 9.5% of the total market share of the decorative paints in the Asia Pacific region (2010). The two largest markets in Asia Pacific, China and Japan, are key markets for Nippon Paint in the Asia-Pacific region. Nippon sales revenue in the Asian market accounts for 77% of total global sales (2010). AkzoNobel is one of the world leaders in the decorative paint market and has a high brand awareness in the Asia Pacific region. China is AkzoNobel's strategic focus on driving business growth globally – the company’s goal is to reach US$3 billion in sales revenue in China in 2015. At present, AkzoNobel's key markets in the Asia-Pacific region are mainly China, India and Indonesia, which contributes more than 60% of AkzoNobel's total sales in the Asia-Pacific region. In 2010, AkzoNobel's sales of decorative paints in the Asia Pacific region was second only to Nippon Paint. Asia Paint is India's largest paint company and one of the top ten decorative paint companies in the world. However, the company's decorative paint business in the Asia Pacific region is limited to India. Even so, the Indian market still supports the company's ranking third in the decorative paint market in the Asia Pacific region. Kansai Paint Co., Ltd. is ranked among the top ten paint manufacturers in the world. The company has branches in more than 40 countries around the world. In 2010, it ranked fourth in sales revenue in the decorative paint market in the Asia Pacific region. At present, Kansai Paint's decorative coating business in the Asia Pacific region is mainly distributed in Japan, India, Malaysia, Singapore and other countries. Australia Dulux Co., Ltd. is a paint company whose business is mainly distributed in Australia, New Zealand and other countries and regions, and has nothing to do with Dulux paint brands sold in other regions of the world such as Europe and America. In 2010, the company had just separated from Australia Orica Co., Ltd. and became an independent company registered by the Australian Securities Exchange. At present, the company ranks fifth in the market share of decorative coatings in the Asia Pacific region, and Australia contributes more than 80% of the company’s sales of decorative coatings in the Asia Pacific region.
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