Turkish Paint Industry Continues to Grow

Turkish Paint Industry Continues Its Growth When we look at the Turkish paint industry in general terms, we can say it has gained significant momentum in exports with production quality that meets global standards. When we look at Europe as a whole, we rank as the 5th largest paint manufacturer and are making steady progress towards becoming an international force. As the Turkish paint industry, we control approximately 2% of the global USD 164 billion paint and coatings market. The organizations representing the Turkish paint industry are continuing their investments at full pace to increase exports across a very wide geography, particularly in the Middle East, Near East, North Africa, Eastern Europe and the Caucasus. According to data from İKMİB (Istanbul Chemical Substances and Products Exporters Association), our sector, which exports to 168 countries, achieved USD 871 million in export revenue in 2020. In 2021, with an increase of more than 27%, our total sectoral exports exceeded USD 1.1 billion. We can say that 2022 was somewhat more stagnant compared to previous years. We attach importance to our international activities; in recent weeks we participated in the annual meeting of CEPE (European Coatings Association), which brings together the European paint, printing ink and artist paints sectors. During this meeting held in Madrid between 28-30 September 2022, we participated in comprehensive sessions where developments in the global paint sector, economic policies, issues in global trade dynamics and sustainability-focused solutions were discussed. We shared our knowledge and experience at the meeting where concrete proposals were exchanged. I would like to emphasize that witnessing the Turkish paint sector breathing in rhythm with the developing world is a promising situation for our sector. We continue our activities to increase our share in the global market, to ensure cooperation and to introduce the production quality of our paint industry to the world. In this context; the annual assessment meeting organized every year by the World Coatings Council (World Coatings Association), which represents the global paint sector, will take place for the first time in 2023 under Bosad's hosting in Istanbul, coinciding with both Bosad's 20th anniversary and our Republic's 100th anniversary. I would like to emphasize that this important organization on a global scale, which will benefit our sector, will contribute to international cooperation. We have started work and will be sharing the details very soon. In the world we are part of, sustainability is becoming not just a business strategy but also a way of life. In light of the critical role our sector plays on sustainability, we have prepared the first Turkish Paint Sector Sustainability Report containing the performance of the Turkish Paint Sector as an association, and we would like to announce here that it will be published very soon. M. Akın Akçalı Chairman of the Board Paint Manufacturers Association (Bosad)