Industry | The Philippine coatings market has grown at an average annual rate of over 6% in the past 5 years

The Philippines is mainly regarded as a newly industrialized country, and its economy is transitioning from a country based on agriculture to a country based on manufacturing and service industries.
Although domestic paint and coating manufacturers in the Philippines have been meeting market demand so far, the country is transforming into a high-value-added product and multinational paint manufacturer.
The Philippine paint and coating industry, composed of more than two dozen paint and coating manufacturers, has maintained a steady growth rate of more than 6% each year for the past five years.
Most of these 25 manufacturers have production plants in Metro Manila and nearby provinces, because most of the country's construction and industrial activities are concentrated in this area.
Pacific Paint (Boysen) Philippines, Inc.
, Davies, Charter Chemical and Coating, United Paints Inc.
, Asian Paints Philippines, Nippon and Jotun Philippines are the main paint manufacturers in the country.
Century Chemical Corp.
, FH Colors and Coatings, Globesco, H-Chem Industries, Mayon Industrial, Roosevelt Chemical Industries, Super Globe, Sycwin Coating and Wires, Times Paint Company and Treasure Island Industries are both medium-sized domestic paint and coating manufacturers in the Philippines.
As of the end of 2018, the Philippines has a population of over 108 million, making it one of the fastest growing economies in Southeast Asia.
In recent years, paint and coating manufacturers have benefited from stable economic growth.
In 2018, gross domestic product (GDP) grew by 6.
2%, the lowest in three years, due to the high prices of basic commodities and the slowdown in agricultural expansion that inhibited growth.
However, the World Bank predicts that the Philippines’ GDP will grow by 6.
5% this year and 6.
6% by 2020 and 2021.
The average age of the Philippines is 23 years old and the degree of urbanization is high.
It is expected that in the next few years, the Philippines will remain an extremely attractive market for domestic and multinational coating companies operating in the country.
The Philippines is made up of 7,200 islands, which can be geographically divided into three main sub-regions based on the concentration of paint and coating manufacturers.
Luzon is home to the largest and northernmost group-the capital Manila and most of the paint and coating production facilities.
The Visayas Islands in the central region has a booming city of Cebu, which is the next target area for paint and coating manufacturers in the country.
Mindanao is located in the southwestern part of the Philippines and is the agricultural center of the Philippines.
The area lacks many paint and coating production facilities.
The paint and coatings industry in the Philippines also has some weaknesses.
The country’s cost structure in terms of logistics, energy and raw materials is prohibitive, but it is not yet available domestically.
Compared with other neighboring countries, the Philippine paint manufacturers have lower capacity utilization rates, and the country’s paint industry has lower investment in technology upgrades.
Pacific Paint (Boise) Philippines Company Pacific Paint (Boise) Philippines Company Pacific Paint (Boise) Philippines is the largest paint and coating manufacturer in the Philippines.
The company claims to have nearly 60% of the domestic market share (by sales volume).
Calculation).
The company was founded in 1953 as a packager of paint and varnish thinners under the trade name Columbus, Pacific Paint (Boysen), which produces architectural, industrial and marine coatings for the domestic market.
The company got involved in paint production in 1958.
In 1960, Pacific Coatings obtained a license to produce Boysen coatings in the Philippines from Walter N.
Boysen, a California-based company.
In the next ten years, Pacific Coatings accounted for the largest share of the premium coatings market in the Philippines, surpassing all of the leading American paint brands with production facilities in the Philippines.
In 2000, Pacific Coatings built a fully integrated manufacturing plant on the outskirts of Metro Manila.
This factory is considered the largest and most modern paint production factory in the country.
Over the years, Pacific Paint Company has become the country's largest paint and coating manufacturer.
In 2017, the company achieved sales revenue of US$280 million.
Jordan Philippines Jordan Philippines Jordan Jordan began factory in Batangas province at the end of 2017 for commercial production.
This 7-hectare factory in the Stowe Industrial Zone produces 5 million liters of paint annually to meet the coating needs of the marine, protective and decorative fields.
In the Philippines, Jotun started as an agency in 1987 and became a Singapore branch in 2004.
Jotun Philippines became fully operational in 2011, with offices in Sucate, Paranaque and Mandaue, Cebu.
In 2013, it decided to invest in a local production plant.
Construction of the plant started in early 2016, and commercial production began in November 2017.
Odd Gledi ibuychem.
com/new/sjk?search_name=tsc&search_type=1" target="_blank">tsc tsc h DY, Chairman of the Jotun Group’s board of directors , said at the factory inauguration: “Jordan has been operating here for more than 30 years, now is the time to open our own factory.
The Philippine market is very important to us because we see the future.
Good growth prospects, especially in Jordan-related business areas, such as investment in the infrastructure and energy sectors have grown steadily.
” Nippon Philippine Company Nippon Philippine Company Nippon Philippine Company was established in Manila in 1976.
With the increasing demand for paint in the 1990s, Nippon Paint established a larger factory in ibuychem.
com/new/sjk?search_name=Ca&search_type=1" target="_blank">Ca Ca buyao , Laguna City, south of Manila in 1996, with a production capacity of 30,000 tons per year.
The factory mainly produces industrial coatings for automobiles, electrical appliances, coils, motorcycles and other related industries.