International. Market analyst IRL conducted a study on the paints and coatings industry in Central America and the Caribbean, which includes Mexico.
The analysis indicates that the Mexican nation is the most important in the region, occupying 60% of the total demand for coatings, followed by Guatemala, the Dominican Republic and Cuba. While the most backward nations in that aspect are Belize, The Bahamas and Barbados.
The market in these regions is divided between 70-30 between decorative and industrial paints and coatings, respectively. Most countries are net importers of coatings, with the main exceptions of Costa Rica, El Salvador, Guatemala and Barbados.
Another important figure highlighted by the analysis is that the per capita consumption of paint in the region is 6.6 kilograms, with the highest levels for the Bahamas and Barbados. Haiti, meanwhile, has the lowest level of consumption per person at just 0.6 kilograms.
It is estimated that the highest growth rates in the medium term will occur in Panama, where it aims to invest in the expansion of the Panama Canal to allow access to larger ships. The main factors that explain the expected growth in the future in this region include reconstruction after the 2010 Haiti earthquake and a new U.S.-funded industrial park; among other factors.
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