From the beginning of 2018, the real estate market has shown signs of recovery and tends to grow strongly with a series of projects and works being implemented. Demand for coatings consumption also increased significantly. At present, there are 600 coatings manufacturers and businesses, including more than 100 foreign companies, the fierce competition between the domestic and international markets is ongoing, promising many changes about price and quality of coatings products.
Review the coatings market 2017
The coatings market in 2017 is developed more strongly than in 2016, but it is also accompanied by many bad aspects due to poor quality as well as unstable prices. Some coatings companies are established but produce low quality coatings, discoloration. 2017 is the year that had the most new foundation coatings of the coatings market in Vietnam. Coatings companies constantly change prices, resulting in a sharp increase in the price of coatings materials. Famous coatings manufacturers have suffered losses for some time to maintain prices for their customers and help stabilize prices for the coatings market.
Particularly, there is the coatings brand - acrulatex, ecological coatings. Customers have been provided false information about the product, and spend a huge cost to buy while not been verified by reliable, and legal agencies.
Market growth is more stable in 2018
As a result of the recovery of real estate, the coatings market has also seen remarkable growth. The competition between foreign and domestic coatings groups is quite fierce. Specifically, Vietnam has about 100 foreign companies investing in coatings, but accounts for more than 65% of consumption. Coatings of foreign enterprises are invested in a wide range of types, used for many purposes such as airport coatings, marine coatings.
In 2018 with more than 38,000 licensed construction permits, construction demand has increased by more than 80%. Data represent a strong growth in the construction market: materials and decorative coatings, especially wall coatings products. Total coatings production in Vietnam is nearly 250 million liters / year, of which decorative coatings accounts for about 190 million liters, accounting for 65% and accounting for 54% of the industry.
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