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A PROFILE OF THE MEXICAN PAINT INDUSTRY (2)

A PROFILE OF THE MEXICAN PAINT INDUSTRY (2)2018.09.28

IRL is pleased to announce the launch of a new edition of its single country report A Profile of the Mexican Paint Industry. In this study, IRL examines Mexico’s paints and coatings market independently and not as part of a regional study on the Central American paint market, thereby enabling us to present more in-depth information on paint market influences and trends. This fully updated second edition provides market data for 2013 and forecasts for 2018.

The total consumption of paints and coatings in Mexico reached 870,000 tonnes in 2013, and is forecast to rise to more than 998,000 tonnes by 2018. This is equivalent to an average annual growth rate of 2.9%, which is somewhat lower than past projections.

The Mexican paints and coatings industry continues to perform strongly despite having encountered some hindrances, such as the deceleration of the economy and a slowdown in construction activity. With a total population of 120 million and rising purchasing power, Mexico attracts many foreign investors who then decide to settle and capitalise on the economy. It has attracted many multinational paint companies.

Together with Brazil, the Mexican paints and coatings industry is a key player in the Latin American region. The two major drivers for Mexico’s paints and coatings market are construction output and growth in local manufacturing businesses. The architectural market remains the largest of the coatings segments in Mexico, corresponding to almost 70% of the country’s total demand. Despite the abnormally poor performance of the construction sector, there is a renowned housing deficit in Mexico which is expected to encourage new build construction and drive the demand for architectural coatings.

The overall prospects for the industrial coatings sector are also promising. General industrial, protective, automotive and marine coatings are all set to benefit from the government’s recently introduced energy reform. There is much speculation that the liberalisation of the energy sector will attract large investments and reduce the costs of industrial energy. Furthermore, Mexico’s automotive production is booming, generating demand for both plastic and automotive coatings.

Both the government and Mexico’s Paint and Printing Ink National Manufacturers’ Association, ANAFAPYT, are attempting to encourage the use of environmentally-friendly coatings. Today, most architectural coatings used in Mexico are water-based; however, on the contrary, solvent-based coatings dominate in the industrial sector. Furthermore, the consumption of powder coatings, which inherently release no VOCs into the atmosphere, is growing swiftly. A key constraint to the development of new coatings technologies is the absence of strict environmental legislation in the country.

 

 



source: www.informationresearch.co.uk




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