Vietnam's real estate and paint industries are currently experiencing an exciting phase, with the vitality of the real estate industry stimulating strong growth in the paint market. Vietnam has more than 600 companies operating in the paint industry, attracting many well-known global paint industry players. This has created fierce competition for domestic and foreign paint products.

  The recovery of the real estate market has driven the prosperity of the paint industry, especially the residential paint industry, which accounts for a large share of the entire paint and coatings products. By the end of 2023, Vietnam's decorative paint and coatings retail market will grow by about 30% to 10.7 trillion VND.

  However, there are many challenges in the competition between domestic and foreign companies in terms of quality, product diversity, features and colors. Paint products of foreign companies tend to be more specialized and diversified, with a wide range of uses, from marine coatings to zinc coatings, woodworking, furniture and many other uses.

  The water-based paint market is expected to continue to grow strongly, attracting a variety of businesses. When choosing decorative paints, customers usually consider price, quality, and brand. Characteristics such as coverage, gloss, color, and resistance to water, heat, and cracking are more important than ever.

  Health and safety are always of utmost importance; hence, antimicrobial and anti-dust properties are popular, especially in residential projects. Architectural coatings are expected to account for 62% of the paints and coatings market, and acrylic coatings are expected to outperform their competitors in terms of durability, UV resistance, and color retention. Hence, the acrylic coatings segment is expected to dominate the market by 2024.

  Therefore, the Vietnamese coatings market is experiencing a dynamic and promising development stage. Competition from domestic and foreign companies is driving product diversification and improving coating quality. In the future, people's concerns about the characteristics of paints, health protection and environmental aspects will also play an important role in the formation of the Vietnamese coatings market.

  Next exhibition time: June 25-27, 2025.