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Philippine paint market has grown by more than 6% annually in the past 5 years

ECHEMI 2019-11-01


The Philippines is mainly considered as a newly industrialized country, whose economy is transiting from an agricultural based country to a manufacturing and service based country. Although domestic paint and coating manufacturers in the Philippines have been meeting the market demand so far, the country is transforming to high value-added products and multinational coating manufacturers. The Philippine paint and coating industry, composed of more than 20 paint and coating manufacturers, has maintained a steady growth of more than 6% in coating online in the past five years. Most of the 25 producers have production facilities in the metropolitan and nearby provinces of Manila, where most of the country's construction and industrial activities are concentrated. Pacific paint (Boysen) Philippines, Inc., Davies, charter chemical and coating, United paints Inc., Asia coatings Philippines, Nippon and Jotun Philippines are the major paint manufacturers in the country.

Century Chemical Corp., FH colors and coatings, globesco, h-chem industries, Mayon industrial, Roosevelt chemical industries, super globe, sycwin coating and wires, times paint and treasure island industries are all medium-sized coatings and coatings in the Philippines. Manufacturer. As of the end of 2018, the Philippines has a population of over 108 million and is one of the fastest growing economies in Southeast Asia. In recent years, paint and coating manufacturers have gained rich dividends from stable economic growth. Gross domestic product (GDP) grew 6.2% in 2018, the lowest in three years, due to the high price of basic commodities and the slowdown of agricultural expansion. However, the World Bank forecasts that the Philippines' GDP will grow 6.5% this year and 6.6% by 2020 and 2021. The average age of the Philippines is 23 years old, with a high degree of urbanization. It is expected that in the next few years, the Philippines will still be an attractive market for domestic and multinational paint companies to operate in the country. The Philippines is made up of 7200 islands. According to the concentration of paint and coating manufacturers, it can be divided into three main divisions geographically.

Luzon is the largest and northernmost group - the capital Manila and the location of most paint and coating production facilities. The Visayas archipelago in the central region has a booming suwu City, which is the next target area for paint and coating manufacturers in the country. Mindanao, located in the southwest of the Philippines, is the agricultural center of the Philippines. There is a lack of many paint and coating production facilities in the area. There are also some weaknesses in the paint and coating industry in the Philippines. The country's cost structure in terms of logistics, energy and raw materials is daunting and not yet available domestically. Compared with other neighboring countries, the capacity utilization rate of Philippine paint manufacturers is lower, and the investment of the paint industry in technology upgrading is also lower. The column is exclusive to V I P members. Please check the details after VIP members log in. Fine content.

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