Nguyen Van Thanh, director of the Vietnam Chemical Agency under the Ministry of Industry and Trade, says the coating and printing ink sectors have many opportunities for continued growth.(Photo: VNA)HCM City (VNS/VNA) - Vietnam’scoating and printing ink industries have had annual growth of 13-14 percent inrecent years and are expected to grow further, according to the Ministry ofIndustry and Trade.
Speaking at a conference last week to introducethe Coatings Expo Vietnam 2019, Nguyen Van Thanh, Director of the ministry’s VietnamChemical Agency (VCA), said the growth rate of the two industries was higherthan the average growth rate of the industrial sector.
Nguyen Thi Lac Huyen, Chairwoman of the VietnamPaint and Printing Ink Association, said the production value of the paint andprinting ink industries topped 2 billion USD and 91.84 million USD,respectively, last year.
Huyen said stable macro-economic growth, aninflux in foreign investment in various sectors in the country, and an increasein exports of many key products such as wood products have spurred growth ofthe coatings and printing ink industries in 2017 and 2018.
Decorative, protective and powder coatings areexpected to maintain a high growth rate of 12-15 percent, while wood coatingswill reach 8-10 percent.
The marine coatings segment, however, has notrecovered because of the problems in the local and global shipbuildingindustry, she said.
The printing ink sector is also expected to growsignificantly along with the development of the plastic bag industry. And theflexographic, co-solvent and water-based ink segments will also prosper.
Firms should develop more green products asenvironmentally-friendly coatings products are increasingly in demand, Thanhfrom the VCA said.
He said his agency was working with the VietnamPaint and Printing Ink Association to minimise chemicals in coatings products.
He said the development of the construction andproperty sectors, as well as more infrastructure works, has also increaseddemand for coatings products.
“The question is about whether we [local firms]can grasp the market opportunity. In the context of globalisation, enterpriseshave to relentlessly be innovative in terms of technology and products,” Thanhsaid.
The Coatings Expo Vietnam 2019 will be an idealopportunity for firms to learn about the latest trends and demands in themarket and enhance co-operation with local and foreign counterparts, he said.
Nguyen Ba Vinh, Director of the Minh ViExhibition and Advertisement Services Co Ltd (VEAS), one of the expo’sorganisers, said the sixth international exhibition and conference on thecoatings and printing ink industry is expected to attract 150 local andinternational exhibitors, who will showcase their latest products andtechnologies.
To be held from June 26 to 28 next year at the SaiGon Exhibition and Convention Centre, the expo will also include professionalseminars and B2B business matching, he said.
Organised by the VEAS and the China NationalChemical Information Centre, the exhibition is expected to welcome over 3,500trade visitors.-VNS/VNA
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