In the past 10 years, the development of urbanization has led to the strong growth of the building materials industry, besides foundation materials such as steel, cement... the paints and coatings also plays an important role in construction projects and the paint market has been active in recent years. Paint and coatings industry in Vietnam is forecasted to grow from 383 million USD in 2018 to 459 million USD by the end of 2022 (according to Coatingsworld).
In the current market, although foreign paint lines are occupying an overwhelming market share of domestic paints, domestic brands are still developing relatively well, thanks to focusing on research and development of unique features to create the difference has helped local businesses maintain their brands, output, and customer market share. Big names such as Jotun, Dulux, Nippon Paint, 4 Oranges or small and medium-sized brands such as Galaxy, Alex, Kavic, Joton, Jymec... are constantly trying to expand market share, continuously improve, diversify variety of types, features, colors... making the competition more fierce.
4 ORANGES
Company 4 ORANGES CO., LTD is a foreign-invested enterprise of Asia Leader International Investment Group (USA), participating in the Vietnamese market since 2004 with an investment capital of 14.5 million USD, to now is the leading enterprise in the decorative paint market in Vietnam and has the largest paint factory in Southeast Asia. 4 ORANGES owns famous paint brands in Vietnam market such as Mykolor, Spec, Sonboss, Oexpo, Expo & Suporseal... Net revenue in 2020 of 4 ORANGES is nearly 3,400 billion VND, quite large profit margin with profit. after tax over 1,000 billion VND.
JOTUN
JOTUN Paint Vietnam Co., Ltd. is a subsidiary of JOTUN Group from Norway, JOTUN has been present around the world and currently has two factories in Vietnam. Participating in the Vietnamese market since 1994, but focusing mainly on industrial paints and marine paints, so little is known to consumers, until 2013 JOTUN's decorative paint line appeared in Vietnam and Thanks to breakthroughs in computerized color mixing technology, JOTUN has expanded the market nationwide and become the leading high-end decorative paint brand in Vietnam. JOTUN Vietnam's net revenue in 2020 is approximately VND 2,800 billion, profit after tax is over VND 600 billion.
AKZO NOBEL
Akzo Nobel Vietnam Co., Ltd belongs to AkzoNobel Group based in the Netherlands, which is the third largest paint company in the world with the famous Dulux and Maxilite paint lines. AkzoNobel's paints in Vietnam target the high-end segment with certificates of national technical standards for wall paints, so they are highly trusted by consumers. In the same competitive segment, AkzoNobel directly competes with other brands. other big age like JOTUN, Nippon. AkzoNobel Vietnam's net revenue in 2020 is nearly 2,000 billion VND, profit after tax is nearly 500 billion VND, and total assets are over 1,500 billion VND.
KKC
Chemical Corporation KCC Corporation is headquartered in Korea and currently has 25 factories located in Korea and many different countries. KCC Vietnam Co., Ltd. has been operating since 2005 and had its first factory in 2009. KCC Paint's products are quite diverse including industrial paint, fireproof paint, marine paint, decorative paint, epoxy paint. .. in which epoxy paint KCC is widely known as the most typical of KCC Paint with competitive price and good quality. KCC Vietnam's net revenue in 2020 is nearly 1,200 billion VND, profit after tax is quite thin, only about 100 billion VND.
NIPPON PAINT
Nippon Paint Vietnam Co., Ltd was established in 1994 with 100% investment capital of Nippon Paint Corporation (Japan). Nippon Paint recognizes the importance of the Vietnamese market, so it has actively invested and expanded its operation scale in recent years. Up to now, Nippon Paint Vietnam owns 3 large production factories in Vietnam. Nippon Paint's paint products are strong in paint lines serving the automotive industry, then architecture and home decoration. Nippon Paint Vietnam has a net revenue of over 1,100 billion dong in 2020, and after-tax profit of about 200 billion dong.
TOA
TOA Paint has a long history of establishment and developed into a leading brand in Thailand, TOA paint started operating in the Vietnamese market in 1995 with TOA Vietnam Paint Co., Ltd., TOA Vietnam has now stood. certain on the Vietnamese paint market. The products of TOA Paint Vietnam are favored by their durability over time, some of TOA's exterior paint products have a durability of up to 15 years, the target segment of TOA Paint is diverse from high-end, mid-range. This is also a product chosen by many consumers. TOA Vietnam's net revenue in 2020 is at VND 1,000 billion, but profit after tax is only about VND 8 billion.
VASPAR
Valspar is a brand established 2 centuries ago in the US and is now known as a supplier of coatings for beverage cans and machinery (Coca-Cola, Budweiser..), in addition to many projects. Large parts of the world also use Valspar as a coating. Valspar Vietnam was established in 2002 with a factory in Dong Nai, besides interior and exterior paint lines for projects, Valspar Vietnam also specializes in supplying coatings for export wooden furniture. Valspar Vietnam's net revenue in 2020 is nearly 1,000 billion VND, the total profit after tax is 80 billion VND.
SHERWIN WILLIAM
Sherwin William Paint of the US is considered as a major brand in the world paint market, world famous for its high-performance line of protective paints and primers with modern production technology and rigorous testing (the works using Sherwin William such as the US Capitol, the Statue of Liberty, the Golden Gate Bridge...). Sherwin William established Sherwin William Co., Ltd. and had the first factory in Vietnam in 2008 in Binh Duong, providing a full range of interior and exterior paints, primers, wall putty... Net sales in 2020 of Sherwin William Vietnam over 900 billion dong, profit after tax of about 70 billion dong, total assets over 600 billion dong.
A DONG
A Dong Paint Joint Stock Company is a domestic enterprise established in 1970, initially just a private paint production facility but one of the three largest paint manufacturers in the South at that time. equitization into a joint stock company. A Dong paint uses advanced technologies with quality imported materials, so A Dong paint achieves high perfection, competing directly with foreign brands. Son A Dong's net revenue in 2020 is nearly 600 billion VND, profit after tax is approximately 80 billion VND.
HAI PHONG PAINT
Hai Phong Paint was established in 1960 and completed equitization in 2004, is a strong enterprise in the paint manufacturing industry in Vietnam. The main products of Hai Phong Paint are paint for ships, paint for containers, paint for traffic and construction, paint for industrial works; Hai Phong Paint's products are diverse in types and priced at about 10% lower than imported paints, thereby helping businesses expand their market share. Son Hai Phong's net revenue in 2020 is 700 billion dong, total assets are over 700 billion dong, profit after tax is approximately 100 billion dong.
According to the Vietnam Paint and Printing Ink Association, the potential of Vietnam's paint market is still very large. Paint consumption in Vietnam is currently only 2.8-3 liters/person/year, while in the US it is 20-22 liters. , Western Europe 15 – 16 liters, China 12 – 13 liters; Total annual consumption in our country is about 250 million liters, of which the majority is water-based paint. The paint market has become more fierce, especially when the market's demand is still increasing and the purposes of customers' use are increasingly changing in more positive directions, thus requiring businesses to operate. in the industry must constantly innovate technology and improve quality to be able to maintain its position in the market.
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