Paint sector worth $1.2 billion
Posted by meb at April 6th, 2008
It is expected that the paint sector of $1.2 billion, which is dominated by water-based paints and light colors, will expand by 10 percent this year, compensating last year’s growth rate of 8 percent. The sector income derives by 80 percent from renovation and by 20 percent from usage in new houses. The paint sector, which experiences different rates of demand and transactions depending on the season, starts its new season in April or May. There are 20 big companies operating in the sector in Turkey, and the total number including smaller companies amounts to approximately 1,000.
As a result of the hegemony of bright colors in furniture, curtains and accessories, the preference in wall paints is also shifting toward light colors, white and its different tones. It is expected that the lightest colors, perceived as tranquil, elegant and peaceful, will make their marks on this year’s trend.
Noting that the annual consumption rate in Turkey’s decorative paint segment was 300,000 tons, with a growth rate of 10 percent every year, Erol Mizrahi, CEO of Polisan, also added, “there has been an increase in the consumption of water-based paints as a result of the change in consumer preferences. Given the period of accordance with the EU, water-based paints are expected to rise further in consumer preference as a result of the limitations on the production of solvent paints from 2010 onward. The vitality of the construction sector together with the rising demand also leads to an expansion in the paint sector, increasing the number of paint companies.”
Source: Turkish Daily News
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