Indonesia Paints & Coatings Market Forecast 2023-2030

Indonesia Paints & Coatings Market Forecast 2023-2030

KEY FINDINGS
The Indonesia paints & coatings market is evaluated to record a CAGR of 6.47% over the forecast period. The country’s key market growth drivers include the rapid rates of urbanization, the rising population, and the augmenting construction sector. The base year considered for the market study is 2022, and the forecast years are from 2023 to 2030.
MARKET INSIGHTS
Presently, Indonesia is the second-largest automotive manufacturer across the ASEAN region, following Thailand. Although the country’s automotive sector observed an adverse year in 2019, due to which vehicle production decreased by 4%, Indonesia’s government is anticipating a growing trend for domestically manufactured car exports. This is primarily attributed to the implementation of the ASEAN Economic Community (AEC), which esteems the ASEAN region as a single market and production area. The important export markets for Indonesia include Malaysia, Japan, the Philippines, Saudi Arabia, and Thailand. Moreover, the nationally produced cars already present in the exported list comprise Toyota’s Fortuner and Avanza, the Honda Freed, and the Nissan Grand Livina.
Conversely, marine and protective coatings are projected to observe considerable demand since Indonesia’s market has a vast potential for marine coatings. Besides, with a coastline of over 54,400 kilometers, integrated with the opportunity to build a thriving shipping industry, the sub-segment is likely to witness intense competition over the upcoming years. Hence, these factors are set to drive the paints & coatings market growth in Indonesia during the forecast period.
COMPETITIVE INSIGHTS
Key companies operating in the market are Akzo Nobel NV, Asian Paints Limited, Berger Paints India Limited, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments