Soaring Demand for Paints in Indonesia! Production to Exceed 1 Million Tons by 2024

At the recent International Coatings Exhibition held in Guangzhou, Mr. Kris Adidarma, President of the Indonesian Coatings Association (APCI) and CEO of PT Propan Raya, made a statement, pointing out that with the Indonesian government's continued focus on manufacturing and infrastructure construction, The country's demand for coatings and their raw materials is expected to grow significantly.

Mr. Kris Adidarma pointed out that the Indonesian coatings industry is currently experiencing healthy growth. As of October 2024, the total production capacity of Indonesia's coatings industry reached 1.004 million tons, of which water-based decorative coatings accounted for the largest proportion, about 67%; Solvent-based decorative coatings accounted for 8%, wood coatings accounted for 7%, Marine and offshore protective coatings accounted for 6%, and coil coatings accounted for 4%. It is expected that by 2024, Indonesia's paint production will exceed 1 million tons, close to market demand.

Discussing the future development of the Indonesian coatings segment, Mr. Kris Adidarma believes that the construction and automotive industries will be the main downstream markets for paints and coatings in Indonesia in the next few years, second only to Marine coatings and offshore protective coatings. On the one hand, after the new Indonesian President Prabowo Subianto took office in October 2024, the new government announced that it will continue to pay attention to strategic infrastructure projects such as construction and housing, which will promote the growth of Indonesia's architectural coatings industry; On the other hand, multinational automobile manufacturers are gradually entering the Indonesian market to invest, which will bring growth potential to Indonesia's automotive coatings market. In addition, Indonesia's environmental policies are also pushing paint manufacturers towards green industries and green products, and water-based coatings and low-volatile organic compounds coatings are expected to have broader market prospects.