South America. Brazil is the most important country in the region in terms of the paints and coatings market with around 60% of the total demand for this sector. This was revealed by a study published by IRL Research in which it analyzed each of the markets of the countries belonging to this Latin American area.
According to IRL, Argentina and Colombia are the countries that in that order follow Brazil in terms of the most important in the paints and coatings market. While Uruguay and Paraguay are the smallest markets in the region.
As for the official consumption statistics, South America averages a per capita paint consumption of 7.1 kilograms. The highest levels of consumption are in Brazil and Chile, while Bolivia is the country with the lowest average in the region.
However, Bolivia is projected as the nation with the highest growth in the coatings market over the middle ground (around 8% per year), followed by Chile and Uruguay.
The study also highlights that one of the factors that contribute to the good present of the sector has to do with the strong presence of multinationals in that territory, and the different coasts, which offer opportunities for the maritime market. IRL highlights the modernization project of Petrobras' tank fleet in Brazil, salmon production in Chile (second largest in the world) and peru's fishing industry.
Finally, the report highlights some of the region's problems with which the sector must struggle: political, economic and social instability. Dependence on imports of many raw materials necessary for the production of paint. The lack of regulations relating to environmental aspects. The nationalization program in Venezuela that has forced many investment projects to be put on hold, and the nationalization in Argentina of YPF and its expropriation of the Spanish energy company Repsol.
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