The Malaysian paints & coatings market is anticipated to grow at a CAGR of 7.3% during the forecast period 2017-2025. The base year considered for the study is 2016 and the forecast period is between 2017 and 2025. Some of the factors that are driving the growth of the market are:

• Surging construction industry
• Growing demand for paints & coatings from automotive, aerospace & marine industry
• Government initiatives to foster country’s infrastructure

The market is mainly driven by its economic recovery, urbanization, and increased number of new housing project completions.

The main end-users in the market are the automotive, construction, aerospace & marine industry. During the 2010-2016, these sector’s output grew considerably. This healthy expansion, particularly in the automotive sector, has driven the demand for paints and coatings in the country. The Malaysian government plans to develop the country’s infrastructure under the 11th Malaysia Plan 2016-2020. New investments in the residential and non-residential construction sector are likely to enable the Malaysian construction industry to contribute significantly to the Malaysian GDP by 2020. The rising demand and production for automobiles, low-interest rates, and the growing purchasing power and financial status of the people have resulted in the growth of the automotive applications industry. The sale of these automobiles is expected to boost considerably over the forecast period. This, in turn, is predicted to drive the demand for and usage of the paints and coatings. Aerospace and marine sector also contributes significantly to the country’s paints & coatings market.

However, the Malaysian paint and coating industry experienced slower growth in the year 2015, due to challenges faced by the Goods and Services Tax (GST) implementation and a depreciation of Ringgit against the US dollar. Additionally, strict government regulations and policies, environmental issues like VOC emissions and a rising demand for eco-friendly paints and coatings are restraining the market growth. Also, the recycling issues of products and a direct relation to the costs associated with raw materials, supply chain and distribution networks are the challenges that are expected to slow down the development of the market.

The Malaysian paints & coatings market has been segmented on the basis of technology used in their manufacturing, the type of products that are manufactured, & applications. These segments are further divided as follows:

By Technology:

• Water-borne
• Solvent-borne
• Others

By Applications:

• Industrial paints and coatings
  • Automotive
  • Aerospace and marine
  • Industrial wood paints and coatings
  • Consumer durables
  • General industries
  • Other industrial applications
• Architectural applications
  • Interior
  • Exterior
  • Wood finishing
  • Others (including enamel and putty)

The market has been broadly categorized into 3 technology types: water-borne, solvent-borne, and others. Furthermore, the market is segmented into applications that are sub-segmented into industrial and architectural. Industrial applications segment includes automotive, aerospace & marine, industrial wood paints & coatings, consumer durables, general industries, and others while the architectural applications segment includes interior, exterior, wood finishing and others.

The major players in the Malaysia paints & coatings market are:

• Jotun
• PPG Industries
• Akzo Nobel
• Sissons Paints
• Colourland Paints
• And others.

Key company Analysis & Company profiles of the prominent market players are discussed in detail. These companies are also focusing on acquiring startups and entering into partnership agreements to sustain in the competitive market. In March 2017, PPG Industries completed a new waterborne automotive coatings production line at its Wuhu facility in China. In February 2017, Axalta acquired Century Industrial Coatings, a manufacturer of paints and coatings with an international presence.

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