Malaysia Paints & Coatings Market Forecast 2017-2025
KEY FINDINGS The Malaysia paints & coatings market is predicted to rise with a CAGR of 7.3% for the forecast period of 2017-2025. The market is primarily driven by factors like increasing demand from various industries like aerospace, automotive, and marine industry; booming construction industry, and the rising government initiatives for the betterment of the country’s infrastructure.
MARKET INSIGHTS The Malaysian paints and coatings market is segmented on the basis of application and technology. The application segment is divided on the basis of architectural and industrial paints and coatings application. The architectural application segments include wood finishing, interior, exterior, and other applications like enamel and putty. The industrial application of the market includes aerospace and marine, automotive, industrial wood paints and coatings, general industries, consumer durables, and other industrial applications. The recent introduction of fluoropolymer coating in the market combined with the shifting focus towards nano paints is presenting the market with potential growth opportunities.
COMPETITIVE INSIGHTS Some of the major players in the market are PPG Industries, Valspar, Akzonobel, Basf Coatings, Kansai Paint Co. Ltd, Nippon Paints, Axalta Coating Systems, Jotun, The Sherwin-Williams, and Sissons Paints.