By the end of 2020, the Vietnam paint and coatings industry size market reached US$16 million, and it has grown steadily in the past five years (2016-2020). Most stakeholders believe that the overall paint and coatings industry will grow at a CAGR of between 5.5% and 6.5% over the five-year period.
One of the most striking trends in Vietnam's paint and coatings industry is the emergence of many medium-sized paint producers in the construction sector. Over the past few years, these domestic companies have become very competitive in terms of scale and scope of operations. Some of these companies are Kova Paint Group, Dong Tam, Alphanam and Hoa Binh.
According to the development plan of the paint and ink industry issued by the Ministry of Industry and Trade, clear guidelines and goals for the paint, ink and paint tool industry are put forward. The development of the coating and ink industry should be based on innovative technologies. According to the plan, the direction of the coatings and ink industry is to gradually phase out outdated technologies and equipment, replace them with advanced technologies and equipment, limit the use of raw materials and chemicals that are harmful to the ecological environment and human health, and create high-quality and high-value products.
To implement the program, the Vietnamese government encourages organizations and businesses to invest in and apply technology to produce high-quality paint tools and ink materials. In addition, the government supports the development of a number of technology-based enterprises in the paint and ink industry to produce high-tech and environmentally friendly products, which enjoy high reputation in the domestic market and internationally.
It should be noted that the Vietnamese government will speed up the relocation process, concentrate paint brush and ink production plants in industrial parks and industrial clusters, and centralize management to minimize environmental pollution.
English
