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Mexican Paints and Coatings Market
Frost & Sullivan, Jan 2009, Pages: 43
This Frost & Sullivan research service titled Mexican Paints and Coatings Market provides key figures of the Mexican paints and coatings market. The study covers the key metrics and competitive market forces. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: decorative, automotive OEM, refinish, and industrial paints and coatings.
Market Overview
Paints and Coatings Market Develop New Strategies to Cope with Competitive Pressures and Maturity
The Mexican paints and coatings market is experiencing significant shifts in market dynamics due to intensifying competition, increasing price of raw materials, and escalating environmental concerns. Reacting to this market scenario, participants are working toward enhancing their competitive positions, lines, and sustainability. “The need to increase competitive clout, comply with end users’ rising demands, and maintain margins despite price pressures is driving different paint makers in Mexico to reshape and revalidate their growth strategies,” say the analysts of this reearch. “The economic downturn is also compelling them to rethink their core strategies and practices, focus on possible process and portfolio complementarities, and improve product quality and differentiation.”
The market is highly influenced by the activities in end-user industries such as construction and automotive. However, the Mexican market has been well insulated from country-specific shocks by the North American Free Trade Agreement (NAFTA). The agreement has allowed the country to gain institutional stability due to its affiliation with the other two dominant economies of the region. “This has provided higher confidence to the investing community, which proved to be favorable for Mexico,” notes the analyst. “There has also been a surge in consumer credit due to the low inflation and interest rates, buoyancy displayed in the retail sector, and growth of consumer finance in Mexico.”
Market participants have built on this market advantage by establishing close relationships with customers, especially in the residential and industrial sectors. Producers are also looking to bolster revenues by achieving repeat businesses. “Producers enhanced their abilities to retain customers by properly understanding their requirements and tailoring products to suit them,” observes the analyst. “Custom services such as color matching, professional training, and after-sales support are likely to further improve customer loyalty and ensure future business.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Decorative paints and coatings
- Automotive OEM paints and coatings
- Refinish paints and coatings
- Industrial paints and coatings
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