The industrial paint industry in 2008 is set to record higher growth than the previous year. This expansion is attributed mainly to a recovery in major consuming industries, especially the automotive industry, which has seen higher sales in both domestic and overseas markets as well as stalwart growth in the packaging and electrical appliance industries during the first four months of this year. Even so, the industrial paint industry may be hampered by excessively high oil prices that have pushed up raw material costs and spurred inflation, and which may in turn dampen consumer and investor confidence. These will eventually have impacted on the growth of industrial paint consuming industries as well as industrial paint domestic demand.
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