Bangkok, Thailand - November 8, 2024. The Asian Paint Industry Council (APIC) Conference 2024, held at the Montien Riverside Rama 3 Hotel in Bangkok, brought together 80 delegates from ten major paint industry associations across Asia.
Representing the Philippines was a six-member delegation led by Reginald Yu, President of the Philippine Paint and Coatings Association, Inc. (PPCAI), alongside Vice-President Patrick Negrete, Secretary-General Eden Quijano Ramos, Director April Ramos, past Secretary-General Diosdado Cheng, a seasoned delegate with 14 years of APIC experience, and Executive Secretary Cheryl Talampas.
In his opening remarks, Mr. Papichat Tangcaravakoon, President of the Thai Paint Manufacturers Association, welcomed attendees and set a forward-looking agenda for the conference. Mr. Tangcaravakoon began by expressing gratitude to the delegates from across the Asia-Pacific region and beyond, acknowledging their commitment to advancing the coatings industry amid both opportunities and challenges. His address highlighted the significant role that collaborative efforts and knowledge-sharing play in driving innovation and fostering sustainable growth within the industry.
Mr. Tangcaravakoon outlined key areas for discussion, noting that this year’s conference would place a particular emphasis on sustainability, technological advancements, and market resilience. He underscored the importance of aligning industry practices with global environmental standards, particularly as the coatings sector faces mounting pressure to reduce its environmental footprint. With sustainability becoming a top priority for regulators and consumers alike, Mr. Tangcaravakoon stressed that adopting greener practices is no longer optional but essential for the industry's future. He called on delegates to engage openly in discussions around sustainable material sourcing, low-VOC formulations, and waste reduction strategies, all of which are crucial to meeting global sustainability goals.
Another central theme of Mr. Tangcaravakoon’s remarks was the need for continuous innovation in response to evolving market demands. He noted the rapid pace of technological advancement in the coatings industry, particularly in areas such as functional coatings, which now offer a wide range of additional properties beyond basic protection and aesthetics. He mentioned advances in anti-microbial, self-cleaning, and energy-efficient coatings as examples of innovation driving the industry forward. Mr. Tangcaravakoon encouraged delegates to embrace these developments and explore how they could be integrated into both existing and new product lines to meet the expectations of modern consumers and industries.
Reflecting on the role of the Asia-Pacific region, Mr. Tangcaravakoon highlighted its substantial influence on the global coatings market, given the region’s expansive manufacturing base and fast-growing economies. He emphasized that, as one of the world’s most vibrant markets for paint and coatings, the Asia-Pacific region has the unique opportunity—and responsibility—to lead in setting benchmarks for quality, innovation, and environmental stewardship. He urged industry leaders to set ambitious goals for reducing the sector's environmental impact while also enhancing product performance and durability to support sustainable development.
Finally, Mr. Tangcaravakoon addressed the importance of resilience and adaptability in today’s dynamic economic climate. Recognizing the challenges posed by global supply chain disruptions, fluctuating raw material prices, and regulatory changes, he underscored the need for industry-wide cooperation to overcome these obstacles. He encouraged participants to share strategies for building resilience, such as diversifying supply chains, investing in digitalization to optimize operations, and exploring alternative materials to mitigate dependency on traditional resources.
In closing, Mr. Tangcaravakoon expressed optimism about the industry’s future, emphasizing that with collaborative effort and a commitment to innovation and sustainability, the paint and coatings sector can continue to thrive while addressing the pressing environmental and economic issues of our time. His remarks provided an inspiring vision, encouraging delegates to take an active role in shaping a sustainable and resilient future for the industry.
The event's opening address was delivered by Mr. Kriengkrai Thiennukul, esteemed Chairman of the Federation of Thai Industries (FTI), who highlighted critical issues affecting the global business landscape. Emphasizing the importance of anti-competitive guidelines, Mr. Thiennukul advocated for fair business practices across the industry, underscoring the need to foster transparency and ethical conduct. He spoke against monopolistic behaviors and practices that could restrict competition, arguing that an open, competitive market drives innovation and benefits both businesses and consumers.
In addition, Mr. Thiennukul introduced an inspiring initiative to further unite the industry: the establishment of World Coatings Day. Proposed to take place annually on March 22, beginning in 2025, this day would be dedicated to raising awareness of the vital role that the paint and coatings sector plays in various industries, from construction and automotive to environmental sustainability. Mr. Thiennukul expressed hopes that this annual celebration would encourage industry collaboration on a global scale, highlighting advancements in sustainability, innovation, and quality standards. The proposal for World Coatings Day reflects FTI’s commitment to positioning the coatings industry as a cornerstone in advancing modern infrastructure, eco-friendly solutions, and economic growth worldwide.
In a recorded presentation, Mr. Daniel Murad, CEO of the ChemQuest Group, delivered a comprehensive overview of global market trends within the coatings industry. His presentation provided valuable insights into both immediate and long-term projections, emphasizing how shifts in consumer demands, regulatory pressures, and technological advancements are collectively shaping the future of coatings. Mr. Murad began by discussing projected industry growth, highlighting an expected 3.1% increase in 2024, followed by a slightly accelerated growth rate of 3.2% in 2025. He attributed these positive growth rates to stabilizing global economic conditions, with inflation pressures gradually easing, allowing companies to better manage costs and pass on value to consumers.
Mr. Murad particularly underscored the Asia-Pacific region’s substantial impact, noting that this market comprises nearly 50% of the $202 billion global coatings industry. With a high concentration of manufacturing and construction activities, the Asia-Pacific region remains a critical driver of demand for coatings, spurred by rapid urbanization, infrastructure expansion, and increasing investments in industrial sectors. He explained that Asia-Pacific’s influence on the global coatings market is expected to grow further, as the region embraces innovative, sustainable materials that align with both regulatory mandates and consumer expectations for environmentally conscious products.
Sustainability was a central theme of Mr. Murad's presentation. He discussed the increasing adoption of bio-based, water-based, and energy-cured coatings as alternatives to traditional solvent-based options, driven by stringent environmental regulations and the global push for reduced carbon emissions. Bio-based coatings, which use renewable resources as raw materials, are gaining traction for their lower environmental impact, while water-based coatings, which reduce volatile organic compounds (VOCs), are appealing for their reduced toxicity and environmental footprint. Mr. Murad noted that energy-cured coatings, which rely on ultraviolet (UV) or electron beam (EB) curing technologies, are rapidly advancing due to their ability to achieve high-quality finishes with minimal waste and faster curing times. He pointed out that these sustainable solutions not only meet regulatory demands but also align with consumer preferences for healthier, eco-friendly products.
Beyond sustainability, Mr. Murad introduced the concept of multi-functional coatings technology as a significant trend reshaping the market. This new category of coatings offers innovative functionalities that extend beyond traditional protective and aesthetic qualities. For instance, he highlighted coatings with odor-absorbing capabilities that are increasingly popular in residential and commercial applications, addressing consumer concerns about indoor air quality. Another cutting-edge development includes coatings with anti-viral and anti-microbial properties, which have seen heightened demand since the COVID-19 pandemic. These specialized coatings offer an added layer of protection in public and healthcare spaces, effectively supporting health and safety initiatives. Mr. Murad suggested that as multi-functional coatings continue to evolve, they will likely play an essential role in differentiating brands and creating new value propositions within the coatings industry.
Additionally, Mr. Murad discussed the influence of digital transformation within the coatings sector, noting how data analytics, automation, and artificial intelligence are increasingly being leveraged to optimize production processes, reduce waste, and enhance product quality. Digitalization enables manufacturers to closely monitor and adjust production parameters in real time, ensuring consistency and efficiency across operations. He emphasized that companies investing in these digital tools are not only improving productivity but also gaining a competitive edge in their ability to meet market demands for customized, high-performance coatings.
In his concluding remarks, Mr. Murad addressed the coatings industry’s potential to lead in sustainable innovation by integrating these technological advancements and aligning with broader environmental goals. He called upon industry leaders to prioritize research and development in sustainable and multi-functional coatings, stressing that these innovations are not only crucial for meeting regulatory requirements but also for positioning the coatings industry as a key contributor to global sustainability. Mr. Murad’s vision for the industry is one of transformation and resilience, as companies adapt to a dynamic market landscape and leverage cutting-edge technologies to create a future that meets both economic and environmental needs.
APIC Executive Secretary Ms. Yoshiko Norizuki delivered an insightful review of the key highlights from the 2023 APIC meeting held in Jakarta, Indonesia, where significant discussions took place around regional issues, sustainability goals, and emerging challenges within the paint and coatings industry. A focal point of her presentation was the World Coatings Council’s Asia-Pacific report, which shed light on the evolving dynamics in the Asia-Pacific coatings market, including trends in consumer preferences, regulatory changes, and the impact of global economic shifts. Ms. Norizuki emphasized that the region’s paint and coatings sector is increasingly being shaped by sustainability and environmental concerns, along with ongoing shifts in market demands driven by rapid urbanization and industrialization.
Ms. Norizuki also provided an in-depth analysis of Japan's current paint market trends, detailing how the industry has faced a steady decline in production volumes since 2020. She attributed this downturn to a complex array of economic challenges, including fluctuations in raw material costs, supply chain disruptions, and labor shortages that have placed constraints on production capacity. Furthermore, Japan’s aging population and a general slowdown in construction projects have dampened demand for certain categories of coatings, particularly in the residential sector. These issues have collectively pressured Japanese manufacturers to reconsider traditional production models and explore efficiencies that could offset the decline in output.
Despite the challenges in production, Ms. Norizuki highlighted a notable trend—a mild increase in sales value within the Japanese paint market. This uptick, she explained, has been primarily driven by rising personal consumption and a shift in consumer preferences toward premium, eco-friendly products. Japanese consumers are showing a growing interest in high-quality, durable, and environmentally friendly coatings, leading to a demand for products that offer superior performance while aligning with sustainability standards. This trend reflects a larger global shift where consumers are willing to pay more for products that minimize environmental impact, and Japan’s industry is responding by innovating with new formulas that reduce VOC emissions and use more sustainable raw materials.
Ms. Norizuki delved further into Japan's movement toward eco-friendly alternatives, including the development of waterborne coatings, which offer reduced environmental impact by using water as the primary solvent. Although the adoption rate has been gradual due to technical challenges in achieving durability comparable to traditional solvent-based products, the Japanese paint industry has made significant strides in improving waterborne coatings’ performance. Additionally, she noted an emerging interest in powder coatings, which eliminate solvents entirely, offering a high-quality, long-lasting finish while reducing VOC emissions. Powder coatings are gaining popularity in sectors such as automotive and industrial applications due to their environmental advantages and resistance to wear, a demand that aligns with Japan’s commitment to eco-conscious practices.
In her presentation, Ms. Norizuki also highlighted the role of government support and regulatory frameworks in shaping Japan's paint industry, noting that the Japanese government has implemented incentives to encourage manufacturers to adopt sustainable practices. She cited recent policy initiatives that promote green innovation, helping companies in the coatings sector invest in research and development for safer, more sustainable products. These policies align with Japan’s broader environmental goals to reduce greenhouse gas emissions and meet international sustainability standards. Ms. Norizuki expressed optimism that regulatory backing would accelerate the adoption of environmentally friendly products in Japan, further strengthening the industry’s competitiveness in the global market.
Furthermore, Ms. Norizuki discussed Japan’s approach to aligning with global trends, emphasizing the importance of collaboration within the Asia-Pacific region. She highlighted initiatives undertaken by the Japan Paint Manufacturers Association to establish partnerships with other Asian countries, sharing knowledge and best practices to collectively advance the industry’s sustainable development goals. By collaborating on research and regulatory alignment, Ms. Norizuki noted, countries in the Asia-Pacific region could foster a more unified approach to environmental challenges, setting a higher standard for responsible production and resource efficiency.
In closing, Ms. Norizuki expressed confidence in Japan’s ability to lead in the shift toward a sustainable coatings industry, both regionally and globally. She stressed that, although Japan faces economic hurdles, the industry’s focus on innovation and commitment to eco-friendly practices position it well for future growth. By prioritizing high-quality, sustainable products and leveraging government support, Japan’s paint and coatings sector can continue to adapt to market changes and serve as a model for sustainable industrial practices in the Asia-Pacific region.
The conference provided an in-depth exploration of sustainability in the chemical sector, led by Mr. Atichat Chaisuparakul, Chairman of the Chemical Industry Club (CIC), who underscored the vital role that the chemical industry plays in advancing Thailand's sustainable development goals. Mr. Chaisuparakul’s address revolved around the “3 T’s” framework—Transformation, Transition, and Transparency—as guiding pillars for the sector's journey toward a more sustainable and environmentally conscious future.
Mr. Chaisuparakul elaborated on each component of the “3 T’s” framework, starting with Transformation, which he described as the chemical industry's need to shift from traditional, high-impact manufacturing processes to innovative, eco-friendly technologies. He discussed the integration of renewable energy sources, such as solar and wind power, within chemical manufacturing facilities, which helps reduce the industry’s carbon footprint. This transformation also includes a push toward developing and adopting green chemistry practices, which prioritize the use of non-toxic materials, reduce waste, and emphasize recycling and circularity in the lifecycle of chemical products. Mr. Chaisuparakul shared examples of recent technological advancements in Thailand’s chemical sector, including new processes that reduce water consumption, minimize emissions, and convert byproducts into reusable resources, showcasing Thailand as a leader in sustainable chemical innovation.
The second pillar, Transition, highlighted the chemical industry’s movement toward sustainable resource management and reduced dependency on fossil fuels. Mr. Chaisuparakul noted that this transition is critical to aligning with Thailand’s national climate goals and the global push toward carbon neutrality. He emphasized the importance of industry-wide collaboration to establish infrastructure and supply chains that support sustainable practices, such as bio-based feedstocks and sustainable sourcing of raw materials. Additionally, Mr. Chaisuparakul highlighted the growing role of green financing in facilitating this transition, as financial incentives and support from both the government and private sectors are enabling companies to implement cleaner technologies and reduce their environmental impact. He expressed optimism that this transition phase will create a resilient and adaptive chemical industry that can meet future environmental standards and remain competitive on a global scale.
The final pillar, Transparency, addressed the chemical sector’s commitment to open communication and accountability in environmental practices. Mr. Chaisuparakul stressed the need for transparent reporting on environmental impact, safety protocols, and sustainability initiatives, which builds trust with consumers, regulatory bodies, and the broader community. He cited the importance of the Responsible Care program—a voluntary global initiative within the chemical industry focused on improving health, safety, and environmental performance—as a key driver of transparency. Through Responsible Care, Thailand’s chemical companies are committing to rigorous standards in environmental stewardship, actively sharing progress, and adhering to ethical guidelines that protect both human health and the environment. This transparency, Mr. Chaisuparakul argued, is essential for creating a culture of responsibility within the industry and establishing Thailand as a regional leader in sustainable practices.
Mr. Chaisuparakul also highlighted specific actions taken by CIC to promote sustainable practices within Thailand’s chemical sector. These initiatives include collaborative efforts with government agencies, academic institutions, and industry partners to develop educational programs and workshops on sustainable chemistry, as well as research grants aimed at fostering innovation in eco-friendly products. Furthermore, he discussed CIC’s advocacy for stricter regulatory frameworks that support sustainable practices, encouraging policymakers to implement incentives for companies that prioritize sustainability.
Concluding his address, Mr. Chaisuparakul reaffirmed the chemical industry’s commitment to being a catalyst for Thailand’s green transformation. He emphasized that sustainability in the chemical sector is not only a regulatory requirement but a moral imperative, aligning with the global call for industries to mitigate their environmental impact and contribute positively to society. By embracing the “3 T’s” of Transformation, Transition, and Transparency, Mr. Chaisuparakul expressed confidence that Thailand’s chemical industry will continue to play a pivotal role in the nation’s sustainable growth, setting a benchmark for responsible, forward-thinking industrial practices across Asia and beyond.
Ms. Yoshiko Norizuki, Executive Secretary of the Japan Paint Manufacturers Association, provided a detailed update on Japan’s strides in developing and promoting eco-friendly coatings, highlighting both the challenges and advancements in this sector. She explained that Japan’s coatings industry has been increasingly committed to sustainability and reducing environmental impact through innovative products, with a particular focus on waterborne and powder coatings as eco-friendly alternatives to traditional solvent-based products.
Ms. Norizuki noted that although waterborne paints have seen steady yet slow growth in Japan, they represent an important step toward lowering emissions of volatile organic compounds (VOCs), which contribute to air pollution and health risks. Japan's transition to waterborne coatings, however, faces certain hurdles, particularly in achieving the same level of durability and performance as solvent-based coatings in specific applications. Despite these challenges, Japanese manufacturers have been investing significantly in research and development to enhance the quality, durability, and drying times of waterborne coatings, making them increasingly suitable for a broader range of uses. As consumers and industries grow more environmentally conscious, Ms. Norizuki expressed optimism that waterborne paints would continue gaining traction, driven by government incentives and regulatory standards aimed at reducing VOC emissions.
In addition to waterborne paints, Ms. Norizuki highlighted the rising demand for powder coatings within Japan as another promising eco-friendly option. Powder coatings are solvent-free, reducing VOC emissions entirely, and they boast high durability and resistance to chipping, fading, and wear. Ms. Norizuki explained that powder coatings are increasingly preferred in industries such as automotive, appliances, and construction, where they provide a long-lasting, high-quality finish without the environmental downsides of solvent-based coatings. Powder coatings also allow for more efficient material usage, as any overspray can often be collected and reused, further minimizing waste.
Ms. Norizuki emphasized that both waterborne and powder coatings are well-aligned with Japan’s national environmental goals, which prioritize reducing industrial emissions and adopting greener practices across manufacturing sectors. She pointed out that the Japanese government has been supportive of this shift, implementing policies that encourage industries to adopt sustainable coatings and reduce their ecological footprint. Japan’s paint industry, she said, is responding by exploring innovative materials and application techniques to meet evolving regulations and consumer demands.
Additionally, Ms. Norizuki discussed the role of public awareness in advancing eco-friendly coatings, noting that Japanese consumers are increasingly prioritizing products with minimal environmental impact. This shift in consumer attitudes has encouraged paint manufacturers to focus on transparency and eco-certification, allowing customers to make informed choices about the products they use. She remarked that this growing demand for sustainability from both industry and consumers is positioning Japan as a leader in eco-friendly paint solutions within the Asia-Pacific region.
Ms. Norizuki concluded by reaffirming the Japan Paint Manufacturers Association's commitment to fostering collaboration within the industry and with international partners to advance sustainable practices. She expressed confidence that Japan’s continued innovation and regulatory support would not only drive the domestic adoption of eco-friendly coatings but also set an example for other countries in embracing a more sustainable future for the paint and coatings industry.
Mr. Mark Chang, President of the Taiwan Paint Industry Association, provided an in-depth overview of Taiwan’s commitment to sustainability within the paint and coatings sector, emphasizing the nation’s concerted efforts toward low-VOC (volatile organic compound) and waterborne coatings. These environmentally friendly alternatives have gained significant traction in Taiwan, driven largely by stringent regulatory measures aimed at reducing air pollutants and promoting healthier living environments.
Mr. Chang highlighted Taiwan’s evolving regulatory landscape, which has enforced stricter emission standards and incentivized manufacturers to innovate cleaner, more sustainable products. He explained that Taiwan’s government has implemented policies that encourage the use of low-VOC coatings, which release fewer harmful emissions during application and drying. These policies are not only aimed at protecting air quality but also at aligning with international environmental goals. Additionally, Taiwan’s adoption of waterborne coatings—coatings that use water as a primary solvent instead of harsh chemicals—reflects a broader trend within the Asia-Pacific region toward reducing the environmental impact of industrial processes.
Further, Mr. Chang underscored the role of green building standards in shaping Taiwan’s paint industry. With the rise of eco-conscious construction, there is increasing demand for sustainable products that meet green certification criteria, including coatings that improve indoor air quality and contribute to a building’s energy efficiency. He noted that Taiwan’s focus on green building standards has stimulated innovation within the industry, pushing companies to develop high-performance coatings that meet both aesthetic and environmental requirements.
In addition to regulatory drivers, Mr. Chang also spoke about shifting consumer preferences, as Taiwanese buyers become more environmentally aware and seek products that align with their values. This shift has encouraged manufacturers to prioritize eco-labeling and transparency regarding the environmental impact of their products, helping consumers make informed choices. Taiwan’s paint industry, he observed, is investing heavily in research and development to keep pace with these demands, with manufacturers exploring bio-based ingredients and recyclable packaging as part of their sustainability initiatives.
Mr. Chang concluded by emphasizing Taiwan’s dedication to aligning with global standards on sustainability, positioning the Taiwan Paint Industry Association as an active advocate for cross-border collaboration on green practices. He expressed optimism that Taiwan’s industry could serve as a model for other countries in the region, combining regulatory compliance, consumer-driven demand, and innovation to foster a more sustainable future in the coatings sector.
In a session dedicated to green strategies, representatives discussed future efforts to reduce carbon emissions, lower energy consumption, and enhance waste management. Mr. Taweesak Kaosol from Allnex presented on sustainable polymers, stressing the company's focus on advanced eco-friendly products across key sectors like transportation and infrastructure.
The talk concluded with a look toward AI's role in the paint industry, with innovations in quality control, supply chain management, and color matching that enhance production efficiency and sustainability. AI is also improving customer experience by providing data-driven insights that ensure product consistency and reduce waste.
In a session dedicated to green strategies, representatives discussed future efforts to reduce carbon emissions, lower energy consumption, and enhance waste management. Mr. Taweesak Kaosol from Allnex presented on sustainable polymers, stressing the company's focus on advanced eco-friendly products across key sectors like transportation and infrastructure.
The talk concluded with a look toward AI's role in the paint industry, with innovations in quality control, supply chain management, and color matching that enhance production efficiency and sustainability. AI is also improving customer experience by providing data-driven insights that ensure product consistency and reduce waste.
The paint and coatings industry is increasingly focused on sustainability, with rising demand for low- or no-VOC paints, bio-based formulations, and recyclable packaging. The sustainable construction sector is also expanding, driven by a push for eco-friendly, durable, and energy-efficient products, with Green Mark Certification becoming more sought after.
Digital transformation is also making waves in the sector. Smart coatings, which use IoT sensors to improve the application and maintenance of coatings, are gaining traction, especially for Singapore’s urban and coastal facades. These coatings include self-healing, anti-corrosion, and temperature-regulating features. Additionally, digital tools in research and development, such as AI-driven formulations and automated color matching, are improving efficiency while reducing waste and energy consumption.
Health and safety standards are also evolving, with a greater focus on reducing hazardous chemicals in paints to improve indoor air quality. Innovations in antimicrobial and antiviral coatings have seen increased demand, especially in the healthcare, hospitality, and transportation sectors, reflecting heightened concerns about hygiene post-pandemic. High-performance coatings, designed for extreme environments and high-traffic areas, are also becoming a priority in the industry.
The Malaysian Paint Manufacturers Association has officially rebranded to the Malaysian Paint and Coating Manufacturers' Association (MPMA), reflecting a broader, more inclusive focus on the entire value chain of the paints and coatings industry. The new identity aims to incorporate non-manufacturing members, fostering diversity within the sector. By adopting "Coatings" in its name, the association seeks to expand its membership eligibility and set the tone for future growth, embracing a wider range of industry participants beyond just paint manufacturers.
Looking ahead to 2025, Mr. Chee Chih Hung, Chairman of the Malaysian Paint and Coating Manufacturers' Association said that Malaysia's economy is projected to grow by 4.5% to 5.5%, supported by investments and stronger economic fundamentals. Key drivers include reduced unemployment, now at 3.2%, and lower inflation, forecasted at 1.9%. In mid-2025, the government plans to restructure fuel subsidies for RON95, benefitting 85% of the population. Additionally, RM 120 billion has been allocated for public and private infrastructure projects, contributing to a positive outlook for the economy. The Malaysian Ringgit is also expected to strengthen against the US Dollar in the coming year.
Arxada, a global leader in specialty chemicals, is paving the way for greener and more sustainable paints and coatings. Mr. Pairat Pipattanaboon, Arxada’s Senior Technical Manager, reported that the company focuses on developing antimicrobial solutions and performance additives tailored to the building and construction market. Arxada’s innovations in the paints and coatings sector include dry-film and wet-state preservation technologies, as well as a commitment to reducing environmental impact. By employing slow-release technologies and inert raw materials, the company is leading the charge in microbial control, aiming to provide more effective solutions for coatings, particularly in the marine antifouling industry.
Indonesia’s paint and coatings industry is experiencing robust growth, largely driven by the country’s booming construction sector and significant government infrastructure projects. According to Mr. Kris Rianto Adidarma, Chairman of the Indonesian Paint Manufacturers Association, paint production rose from 1.2 million tonnes in 2021 to 1.5 million tonnes in 2023. The sector, which plays a critical role in supporting industries like construction, automotive manufacturing, and furniture production, saw a 15.38% growth in 2022 and is expected to expand by 5% to 7% in 2024.
Despite global economic challenges, Indonesia’s paint and coatings industry continues to thrive, with export revenues reaching US$94.4 million in 2023. The industry’s importance is underscored by its role in major national infrastructure projects, including the development of Nusantara, Indonesia’s new capital city, scheduled to be inaugurated in August 2024. The growth of the paint sector is closely tied to other industries such as infrastructure, automotive, and furniture, making it a key driver of economic development in the country.
The Philippine paint industry, as reported by Reginald Yu, President of the Philippine Paint and Coatings Association, Inc. (PPCAI), is experiencing strong growth, driven by factors like rapid urbanization, a booming construction sector, and increased demand in the automotive coatings market. As the country urbanizes, there is a rising demand for decorative coatings in residential and commercial buildings, as well as for infrastructure projects. Government initiatives, particularly the "Build, Build, Build" program, are further fueling the construction boom, which in turn increases the need for durable, high-performance coatings across various sectors. The automotive market is also expanding, with a growing middle class and higher vehicle ownership driving demand for specialized coatings that protect vehicles from environmental stressors.
The market is evolving with a greater emphasis on sustainability and technological advancements. Companies are developing eco-friendly, low-VOC and water-based coatings that comply with environmental standards. Technological innovations, such as AI-driven formulations and automated color matching, are enhancing efficiency, reducing waste, and improving energy consumption. Additionally, high-performance coatings, including antimicrobial solutions, are in demand, particularly in sectors like healthcare and transportation.
The Philippine paint market is made up of several categories, with decorative coatings taking the largest share, driven by ongoing construction activity. Industrial and powder coatings also play key roles in the manufacturing sector, together accounting for 80% of the market's value.
However, the Philippine Paint and Coatings Association (PPCAI) has raised concerns about the inclusion of paint under the Hazardous and Urban Household Substances (HUHS) regulations. The association argues that paints, particularly those adhering to global lead-safe standards, do not pose the same risks as substances typically regulated under HUHS. PPCAI also points out that paint manufacturing is already subject to strict regulation by agencies like the Department of Environment and Natural Resources (DENR) and the Department of Health (DOH), making additional oversight redundant.
In response, the PPCAI has submitted position papers to the Food and Drug Administration (FDA) and engaged in discussions with regulatory bodies and government officials, advocating for a regulatory framework that balances public health protection with industry innovation. The association continues to push for a Regulatory Impact Assessment (RIA) to ensure that any new regulations are based on solid evidence and do not stifle the industry’s growth or competitiveness.
BASF is making significant strides in sustainable paint and coating technologies, emphasizing carbon footprint reduction without sacrificing performance. According to Mr. Stanley Kwan, Senior Manager and Mr. Somjate Sonkaew, Director for ASEAN Sales, its Biomass Balance (BMB) approach has propelled BASF to develop products like Acronal® MB 559, which reduces CO2 emissions by 75% compared to fossil-fuel-based alternatives. This innovation aligns with BASF’s broader sustainability goals, including eco-friendly paints that contribute to better indoor air quality and lower VOC emissions, as seen in their low-odor, low-VOC products. These paints are especially suited for indoor applications like schools and hotels, where health and air quality are paramount.
In addition to this, BASF is pioneering new technologies like IO-Hybrid, which incorporates micro-pore structures that help deactivate bacteria and viruses, offering enhanced antimicrobial protection. Their Radiative Cooling Coating System also leverages IO-Hybrid technology to improve solar reflectance, helping reduce heat buildup in buildings. BASF is also focusing on packaging innovation, partnering with Nippon Paint in China to create eco-friendly packaging that reduces plastic waste and recycles paper materials, further contributing to a circular economy.
Meanwhile, Colossal International, under Ms. Wanchana Tesdee, Chief Executive Officer (CEO) of Colossal International Co., Ltd. Is addressing the growing need for sustainable industrial coatings with its PFAS-free solutions. These coatings, designed to protect machinery from wear, corrosion, and improve non-stick properties, meet stringent environmental regulations while maintaining high performance. Colossal’s approach highlights how the coating industry is evolving towards greener, more sustainable options without compromising on technical effectiveness, ensuring both environmental and operational efficiency.
The Asia Coatings and Ink Federation (ACIF), as reported by Mr. Xilin Li of Orr & Boss, is a collaborative network formed by coatings and ink associations from various Asian countries, alongside production enterprises in the coatings and ink industry. Officially registered in Hong Kong on May 20, 2022, ACIF aims to drive the high-quality sustainable development of the Asian and global coatings and ink sectors. Its mission is to foster communication, strengthen international exchanges, and promote shared growth among its members. Additionally, ACIF works to promote the construction of e-commerce platforms to help its members expand their market reach and networks.
In Vietnam, economic performance in 2023 showed some challenges, with the GDP growth falling to 5.05%, below the target of 6.5%. According to Mr. Vuong Bac Dau, President of Vietnam Paint and Printing Ink Association, the economy saw a slow recovery in aggregate demand, both in consumption and investment. Additionally, capital demand and credit growth remained weak, while both export and import values saw declines, with exports down by 2.54% and imports down by 4.33%.
Despite these economic challenges, inflation was controlled, with the Consumer Price Index (CPI) increasing by 3.3% and core inflation at 4.2%, both lower than the targets. The government’s investment in the economy was robust, with an estimated 625.3 trillion VND invested, reaching 85.3% of the planned target and marking a 21.2% increase compared to 2022. Foreign Direct Investment (FDI) inflows into Vietnam also saw a 32% increase, reaching US$36.6 billion, while realized FDI capital hit a historic high of US$23.2 billion, marking a 3.5% increase from 2022.
However, 2023 was a difficult year for the Vietnamese paint and ink industry, with the worst production and business results in two decades, exacerbated by the ongoing recession since late 2022. The sector faced significant challenges in maintaining business operations during this period. One of the ongoing issues is the absence of a complete set of standards and regulations for paint and ink products, which has led export-oriented businesses and multinational companies to develop and apply their own green standards.
The Vietnam Paint and Ink Association (VPIA) is working to raise awareness among its members about sustainable development. It is gradually building a leadership team to guide the transition toward greener coatings practices tailored to Vietnam's unique conditions.
In his presentation, Mr. Jun Ma, Chairman of the China National Coating Industry Association (CNCIA), outlined several key developments and initiatives within China’s coatings industry, focusing on environmental standards, safety regulations, and upcoming events.
The Standards Committee of Coatings & Pigments has been working on the "Outline for the Compilation of Standardization Development Guidelines for the Petroleum and Chemical Industry during the 14th Five Year Plan Period," aiming to establish mandatory national standards for harmful substances in coatings by 2025. This will include stricter VOC (volatile organic compound) limits and continued reductions in emissions. Additionally, in June 2020, the revised ISO 11890-2 standard was released, introducing a method for measuring semi-volatile organic compounds (SVOCs) in paints, aligning with international regulations.
The National Standardization Management Committee proposed in July 2023 to revise mandatory national standards for coatings, especially those in contact with humans, to include lead content limits aligned with US toy standards. Furthermore, the Ministry of Ecology and Environment released the "List of Key Control New Pollutants" in December 2022, which includes nonylphenol, a degradation product from certain surfactants used in building coatings.
Looking ahead, the "Limit of Harmful Substances in Coatings Part 1: Architectural Coatings" will be part of the 2024 "Action Plan for Upgrading Consumer Product Standards," focusing on improving product quality and safety.
Mr. Ma also highlighted the China Coatings Show 2025, organized by CNCIA and scheduled for September 3-5, 2025, at the Shanghai New International Expo Center. This major event will cover 100,000 m² and serve as a key platform for the global coatings industry, showcasing finished products, raw materials, and equipment, as well as fostering business development and international exchange. The China Coatings Show has been a prominent industry event for over 22 years.
The Australian Paint Manufacturers Federation (APMF) represents 95% of Australia's paint industry sales, comprising around 300 paint manufacturers, mostly small and medium-sized enterprises (SMEs). With annual sales reaching approximately AUD 3 billion, APMF plays a significant role in the country's coatings sector.
As per Mr. Bernard Lee, Executive Officer of the Australian Paint Manufacturers Federation (APMF), a key sustainability initiative from APMF is Paintback, a national program launched to address the growing volume of unused and waste paint across Australia. Recognizing that many households retain leftover paint for touch-ups or future projects, APMF proposed a scheme to collect and properly dispose of unwanted paint and packaging. The program began with a pilot project in Victoria in 2016, which was successful and expanded nationally. Today, Paintback operates over 165 collection points across the country, funded by a 15-cent per liter levy on participating companies. The scheme has collected more than 58 million kilograms of unwanted paint and packaging, with significant progress in recycling efforts. For example, unwanted paint is now being repurposed for road construction and concrete, while metal tins are recycled, and plastic paint pails are used to create new products like general-purpose 4-litre buckets.
Looking ahead, APMF continues to invest in research and development to find additional uses for unwanted paint. Despite its success, Paintback faces challenges, particularly with recycling paints into new products due to the complexity of pigment contamination. Additionally, there is pressure to expand the scheme to include other products like aerosols and industrial paints, but the higher hazard profile of solvent-based paints makes this difficult and costly.
On the regulatory front, APMF has expressed support for the government’s consultation on packaging legislation, though it advocates for a flexible approach to avoid undermining successful initiatives like Paintback. The Federation highlights that paint packaging contributes minimally to a product’s environmental footprint and urges that packaging reforms should not stifle innovation or increase consumer costs. APMF is also concerned about potential market concentration and reduced competition, particularly if eco-modulated fees or taxes are introduced.
APMF is also addressing workplace health concerns. The Australian government has proposed reducing the Workplace Exposure Limit (WEL) for Titanium Dioxide (TiO2) from 10 mg/m³ to 1 mg/m³. While the Department of Health has concluded that the current limit is sufficient to protect workers, APMF is concerned that the proposed change could result in significant costs (estimated at AUD 212 million) without providing additional health benefits. TiO2 is commonly used in paint production, and the proposed change would require extensive testing, further raising the cost and regulatory burden on manufacturers.
Sustainability is now a central focus of APMF’s strategic plan for 2024-2027. The Federation is committed to advancing sustainability across the industry by promoting common practices that benefit both the environment and businesses. One key focus is the role of paints in the circular economy, including their ability to extend the life of assets, structures, and items, thereby reducing the need for replacements and promoting recycling. APMF is also dedicated to improving manufacturing processes, including water treatment, resource utilization, and reducing carbon footprints. Additionally, product innovation is a priority, with a strong emphasis on low-VOC, water-based, and long-lasting paints. APMF is also working to raise consumer awareness, encouraging proper paint disposal and the use of tools like Paintback.
The paint and coatings industry also plays a significant role in reducing carbon emissions. Antifouling coatings, for example, reduce maritime transport fuel consumption by 29%, while coatings in energy-efficient infrastructure, such as solar panels and aircraft, further contribute to reducing the carbon footprint.
Finally, APMF emphasizes the importance of career and innovation opportunities within the Australian paint and coatings sector, highlighting the role of R&D in driving the industry’s sustainability efforts both locally and globally.
In 2024, Thailand’s coating market faced a mixed outlook across various sectors, with signs of recovery in some industries and challenges in others.
As reported by Ms. Pilunthana Khampach, Technical Services Manager at Colossal International Co., Ltd., the architectural coatings sector showed promise as the residential market began to recover, particularly in rental properties, although sales remained cautious due to high interest rates. Renovation projects gained importance, and for 2025, moderate growth of 1-3% is expected, driven by demand from high-purchasing-power customers. The growing tourism industry and the return of foreign buying power, especially in urban and transit-connected areas, will further fuel demand.
In the OEM & refinish market, vehicle production dropped significantly in 2024, with a 25.48% decline in September alone. This was especially true for passenger cars and trucks. However, the shift toward electric vehicles (EVs) is expected to drive recovery, with new factories from BYD and Changan slated to open in 2025, supported by government incentives for hybrid and electric vehicles.
The can coatings market also saw strong growth in 2024, driven by rising demand for ready-to-eat meals and canned drinks amidst global tensions. In 2025, production is projected to grow by 3.5-4.5%, spurred by inventory restocking and the rise of health-focused products. However, the shift to eco-friendly coatings is expected to increase costs.
General industries and powder coatings are benefiting from the relocation of manufacturing operations to Thailand due to the US-China trade tensions. Companies like HP, Toshiba, and Haier are expanding their production capacities in Thailand, further boosting the coatings sector.
The wood coatings market remains strong, with Thailand playing a significant role in the global furniture trade. China’s growing presence in the Thai market, alongside a rising demand for eco-friendly coatings, is pushing production capacity in the sector.
Finally, in the heavy-duty and flooring segment, large-scale infrastructure projects such as the Thailand-China high-speed rail and new airports in Phuket are expected to drive demand for coatings, providing a boost to the market in the coming years.
Overall, Thailand’s coatings market is poised for moderate growth in 2025, supported by infrastructure projects, the shift to electric vehicles, and increased demand in various industrial sectors.
One of the climactic highlights of the APIC 2024 was the good news that the Philippine Paint and Coatings Association (PPCAI) has been awarded the privilege to host the Asia Pacific Coatings Industry Conference (APIC) 2026. The announcement was made during the APIC Panel Discussion on the theme “Do Good / Do Better,” moderated by Mr. Papichat Tangcaravakoon, marking a significant milestone for the local coatings industry.
In his closing remarks, the 38-year old Tangcaravakoon first extended his congratulations to the China National Coating Industry Association (CNIA), which was selected to host APIC 2025 in Shanghai. He expressed confidence that CNIA would continue the tradition of excellence set by previous APIC events, bringing fresh insights and innovative approaches to the conference.
Looking ahead, PPCAI’s successful bid to host APIC 2026 in Manila was met with enthusiasm. Mr. Tangcaravakoon highlighted the importance of this opportunity for the Philippine coatings industry, emphasizing that the event will showcase the country’s progress in the sector and provide a platform for global collaboration.
All told, the Asia Pacific Coatings Industry Conference (APIC) is one of the region’s most prestigious events, gathering experts and leaders from the coatings industry to exchange ideas, discuss trends, and foster innovation. APIC 2025 in Shanghai and the 2026 edition in Manila promise to further strengthen the network of professionals in the coatings sector across Asia and beyond. 🖌️🖌️🖌️
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