Growing Market
Despite the global economic recession for few years, Vietnam's coating industry has continued to experience growth. Also, Vietnam is South-East Asia boom zone for coating sector. The industry is reaping the rewards for its investment in the past five years, notably within a series of industrial zones established by the Vietnamese government around Ho Chi Minh City. A number of international companies, such as Sigma and Nippon, have coating producing plants in the country.

Market Overview
The market continues to focus on the key coating segments of decorative, marine and protective coatings. The largest sector in the country's coating market is decorative coating, mainly due to the growth of construction sector and growing consumption from the middle class for value added coating. The focus of the wood coating sector would be on new markets, focusing on specified application and domestic demand. The other category includes motorbikes coatings, an area experiencing a high growth rate given the large number of motorcycles and mopeds in the country.

Import & Export
Vietnam production is capable of meeting around half of national consumption. It is showed more than 80% of coating imported in Vietnam comes from Taiwan, Indonesia, China, and Thailand. Also, approximately 70% of raw material used in coating production is imported. One thing to be noted is the market for coating products exported from Vietnam is definitely growing because quite a number of multinational countries build their production facilities in Vietnam to capitalize on its low operating costs.

Market Forecast
In the industrial coatings market, the Asia-Pacific market is projected to continue to grow above the global average, several key industrial coatings segments are forecast to experience the greater rate of growth to 2014. Vietnam is an important and growing part of the Asia-Pacific marketplace. Due to the market continuing growth, overseas investors have continued to demonstrate confidence in the Vietnam sector. More and more leading coatings manufacturers and raw material suppliers are looking to expand in Vietnam.