In an interview, Ms. Lac Huyen (VIPA's president) said the positive growth of up to 8-10% in 2017 of Vietnamese paint and ink companies. Last year, the industry reached $1.6 billion in total value, and in the first half of 2017 alone, it grew at a rate of 8%.
Surely foreign paint companies such as Nippon, Valspar, Dulux, ... are very familiar to Vietnamese users. These paint companies appear in all provinces and cities, serving for many different activities such as house painting, wood painting, corrugated iron painting, shipbuilding,... The wide coverage and good quality make foreign paint currently accounts for 65% market share in Vietnam.
The remaining 35% of paint market share but market share is not all to reflect the growth rate. Vietnamese paint companies are having an unexpected breakthrough, typically Kova has grown by 20% year on year. Not only that, this paint company also exports to foreign countries with a line of bulletproof paints. Along with Kova, two paint companies, Dong Tam and Hoa Binh, are also having a very positive development, gradually dominating the Vietnamese paint market.
Specifically, it has been estimated that the Vietnamese people's paint consumption in 1 year is about 3 liters/day. That number in the US is more than 20 liters and in Europe it is 15 liters. Some developed Asian countries such as Japan, Korea, and Taiwan consume about 13 liters/day. However, both foreign and domestic paint companies are trying to exploit the Vietnamese market.
Therefore, the competition of paint companies has become fierce, both investing in advertising and offering attractive discounts to users. For example, Nero paint line has introduced waterproof Cement paint 50% cheaper than foreign paints but with no less quality. Or like TOA paint offers commercial discounts (from 35-45%) to attract contractors and construction businesses. The results they received were very positive, showing the effectiveness of the discount policy, increasing the discount.
Hopefully, with strong efforts, Vietnam's domestic paint can compete and capture the majority of the domestic paint market share, and at the same time rise to the same level as famous paint brands in the world, to trade Vietnamese brands can proudly fly far.