Paints and Varnishes in Australia: ISIC 2422 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-01 17:47:01
The Australian paints and varnishes market grew at an average annual pace of more than 5% over 2000-2010. Australia did not experience a housing bubble burst as a result of the global economic downturn, with its real estate demand and prices going up.
This resilience in real estate supported sales. In 2010, the market sales reached a value of more than A$4 billion. Although performing relatively well during the financial turmoil at the end of the review period, the industry suffered in 2005. In this year, the industry declined by 6% from the previous year, as the overall housing and construction industries in Australia slowed down.
The industry´s dependence on the real estate situation in country is natural, as paint consumption in Australia can be broadly divided into two major groups: architectural/decorative purposes (mainly used in the construction industry) and purchases of industrial paints and coatings (used in a variety of industries).
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