Mexico. Total consumption of paints and coatings in Mexico reached 870,000 metric tons in 2013, and is projected to increase to more than 998,000 metric tons in 2018. This equates to an average annual growth rate of 2.9%, which is somewhat lower than previous projections.
This was confirmed by the study of the market analyst company IRL in its research "A profile of the Mexican paint industry", which presents analysis for the period from 2013 to 2018.
The Mexican paints and coatings industry will maintain a solid performance despite having encountered some obstacles, such as the slowdown in the economy and a slowdown in construction activity. With a total population of 120 million and increasing purchasing power, Mexico attracts many foreign investors who then decide to settle down and take advantage of the economy. This has attracted many multinational painting companies.
Along with Brazil, Mexico's paints and coatings industry is a key player in the Latin American region. The two main drivers for Mexico's paints and coatings market are construction production and the growth of local manufacturing companies. The architecture market remains the largest of the coatings segments in Mexico, accounting for almost 70% of the country's total demand (architectural coatings – 69%, industrial coatings – 31%).
