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Commercial production of paint commenced in Australia in about 1850. However, it was not until the twentieth century that local manufacturers were
able to dominate the Australian market. In 1927 it was estimated that 78% of Australia's paint requirements were produced locally. At that stage, 69 factories employed 1,300 persons with an annual turnover of
approximately $4 million.
By 1955, turnover had increased to $73.5 million and employment stood at 5,300. During this period the range of products offered underwent considerable expansion. Titanium
dioxide become the main raw material, which it is still today.
The period 1955 to 1970 witnessed record growth. In 1993, the IAC report on "Paints, Varnishes and Lacquer" identified 125 paint firms, employing 5,399 employees with an annual turnover of $1.358 billion.
The last ten years have seen a different type of change. The period has been characterised by market rationalisation. A number of mergers and take overs have occurred as manufacturers, both large and small,
have sought to gain economies of scale. Within companies specialisation is also occurring so that building paints may be manufactured at one site and marine paints at another. Some companies are hiving-off non-core
product lines to concentrate on what they believe they can do best.
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