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’s coating and printing ink industries have had annual growth of 13-14 percent in recent years and are expected to grow further, according to the Ministry of Industry and Trade.

Speaking at a conference last week to introduce the Coatings Expo Vietnam 2019, Nguyen Van Thanh, Director of the ministry’s Vietnam Chemical Agency (VCA), said the growth rate of the two industries was higher than the average growth rate of the industrial sector.

Nguyen Thi Lac Huyen, Chairwoman of the Vietnam Paint and Printing Ink Association, said the production value of the paint and printing ink industries topped 2 billion USD and 91.84 million USD, respectively, last year.

Huyen said stable macro-economic growth, an influx in foreign investment in various sectors in the country, and an increase in exports of many key products such as wood products have spurred growth of the coatings and printing ink industries in 2017 and 2018.

Decorative, protective and powder coatings are expected to maintain a high growth rate of 12-15 percent, while wood coatings will reach 8-10 percent.

The marine coatings segment, however, has not recovered because of the problems in the local and global shipbuilding industry, she said.

The printing ink sector is also expected to grow significantly along with the development of the plastic bag industry. And the flexographic, co-solvent and water-based ink segments will also prosper.

Firms should develop more green products as environmentally-friendly coatings products are increasingly in demand, Thanh from the VCA said.

He said his agency was working with the Vietnam Paint and Printing Ink Association to minimise chemicals in coatings products.

He said the development of the construction and property sectors, as well as more infrastructure works, has also increased demand for coatings products.

“The question is about whether we [local firms] can grasp the market opportunity. In the context of globalisation, enterprises have to relentlessly be innovative in terms of technology and products,” Thanh said.

The Coatings Expo Vietnam 2019 will be an ideal opportunity for firms to learn about the latest trends and demands in the market and enhance co-operation with local and foreign counterparts, he said.

Nguyen Ba Vinh, Director of the Minh Vi Exhibition and Advertisement Services Co Ltd (VEAS), one of the expo’s organisers, said the sixth international exhibition and conference on the coatings and printing ink industry is expected to attract 150 local and international exhibitors, who will showcase their latest products and technologies.

To be held from June 26 to 28 next year at the Sai Gon Exhibition and Convention Centre, the expo will also include professional seminars and B2B business matching, he said.

Organised by the VEAS and the China National Chemical Information Centre, the exhibition is expected to welcome over 3,500 trade visitors.-VNS/VNA