LONDON - Information Research (IRL) has recently published a third edition of one of its most popular national paint profiles, A Profile of the Turkish Paint Industry. The Turkish paint and coatings market has been estimated at 600,000 tonnes in 2008. A temporary contraction in the Turkish decorative sector and strong growth in the manufacturing industry has almost equalized the industrial and decorative coatings markets to around 300,000 tonnes each. The market is forecast to grow by an average of 8.6 percent per annum until 2013, when it may reach almost 909,000 tonnes.
The decorative paint market has contracted slightly for a number of reasons, including delays to projects, higher interest rates and caution on the part of investors and home buyers. The Turkish passion for DIY has also abated somewhat, and with a young population and lots of cheap labor, the trend has been toward consumers buying paint and then paying for professional applicators to carry out the work required. Therefore, long-term recovery is likely to favor growth in the professional segment unless paint companies employ a fresh round of measures to stimulate consumer interest in paint. Furthermore, the coming years will see a significant expansion of the Turkish DIY retail segment as major companies such as Kingfisher and BauMax press ahead with plans for new stores.
The Turkish industrial coatings market continues to be a major success story as a host of manufacturing sectors demonstrate strong growth. Among them are the automotive, ACE, white goods and boat-building industries.
The automotive coatings sector is expected to grow at 8 percent per annum, reflecting a recent and ongoing wave of industry investment. This has also been anticipated by the coatings industry with major companies such as BASF and Kansai Paint taking steps to strengthen their positions in Turkey.
Turkey’s strong position in the manufacture of white goods and unique position for export markets provides good opportunities in the powder coatings sector. In addition to serving some 11 million households in Turkey, strong growth in western European export markets (particularly France and the UK) provides additional support for the sector.
The marine paint market continues to flourish as Turkey’s ship-, boat- and yacht-building activity continues to grow. Turkey has been gaining ground in the construction of mega-yachts, while the ship repair aspect has been growing because of Turkey’s position as the gateway to the Middle East.
For additional information or to purchase A Profile of the Turkish Paint Industry, 3rd Edition, visit www.informationresearch.co.uk.
