The Russian coatings industry may face a perfect storm in 2021 with relatively low demand on the key markets,skyrocketing prices for raw materials,changing legislation,and on top of that,new Western sanctions against the country's economy.A sharp rise in prices for raw materials is one of the most distressing factors for the Russian coatings producer.Russian coatings companies import roughly 40% of raw material.The ongoing downward rally of the Russian ruble's exchange rate coupled with the rise in prices on the global market causes strong volatility on the country's raw materials market."The current situation with the rise in prices for raw materials is very alarming,including from the point of view of ensuring the quality and safety of the coatings,"said Sergei Fedotov,president of the Russian Coatings Quality Association."To solve the problem of raw material security in the industry,some government support is needed."
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