The world has been changing at a dizzying pace over the past 50 years. In the midst of this radical transformation there lies a crucial element impacting on all of our lives: Urbanization. According to UN data, as of 2014, 54% of the world's population lives in urban areas. This ratio, which stood at 30% in 1950, is expected to hit around 70% by 2050. As an essential part of urban life we all spend extended periods of time indoors. We spend eight to ten hours on average per day in the workplace, and the remainder of the day at home. Our sense of well-being increases if these environments are hygienic and spacious. Wall paint plays a big role in achieving such indoor environments. Studies show that the color of the walls of our office or living room has a direct impact on our mood. It is recommended that the living room be painted in soft colors, the bedroom in relaxing colors such as blue and exercise areas in vivid colors such as orange. Office walls in red boost productivity for people working in creative industries, such as advertising while disturbing colors such as yellow are not recommended for meeting rooms. Surely there is a reason why we have been discussing paint here. There is only a short while to go until the season deemed most suitable for coloring the walls of indoor environments comes along. Experts point to autumn and spring as the ideal seasons for painting walls. So, you still have time to pick the colors you wish to use. While you plan for your new season, let’s look at the latest developments in the sector. The Turkish paint sector has registered great developments over recent years. According to data provided by the Association of Turkish Construction Material Producers (IMSAD), Turkey currently ranks as the fifth biggest paint producer in Europe. With a volume of approximately USD3 billion, the paint sector has a global overall share of 2%. This volume comprises construction paint (60%) and industrial paint (40%). In terms of value, this situation is reversed. The paint sector, hosting numerous economic players and boasting a per capita annual paint consumption of 11 kilos, comprises circa 600 small and medium-size businesses in production. Construction paint holds the biggest share in the sector, while large and medium-sized businesses account for 82% of the annual paint production and small businesses carry out 18% of the production which predominantly comprises lacquer and thinners. The sector’s capacity utilization rate stands at 65%. Experts hold the opinion that the construction sector and its sub-sectors should be supported through wellplanned strategies as well as research and development activities, as these sectors are of key importance for the Turkish economy. As our awareness regarding our health and the structures we inhabit increases, we tend to seek higher quality products. For instance, a significant increase is noted in the demand for water-based paint, which is believed to be more suitable for human health. According to the most recent figures, the share of water-based paint in total paint production has reached around 70%. In short, “green paint” production is increasing. For example, self-repairing paint is produced in the industrial paints segment, and the formulations diversify. As of 2030, the growth rate of the Turkish paint sector is expected to take over that of the European average. Sector representatives are convinced that the Turkish paint sector is able to compete with European countries in this area in terms of both its product quality and its production technologies. This inevitably reflects on export figures. According to figures by the Association of Paint Industry (BOSAD), the value of Turkey’s paint exports amounted to USD30 million in 2004, while this figure surpassed USD1 billion as of 2014. According to data provided by the Istanbul Chamber of Commerce (ISO), the paint industry, as a sub-sector of the chemicals and chemical products industry, holds the highest added value with 18% and the highest production value with 20%. Behind the growth in the paint sector there undoubtedly lies the great dynamism observed in the construction sector over the recent period. The report “Construction Sector in Terms of Growth” dated January 2015 and published by Türkiye Sınai Kalkınma Bankası states that while the annual average GDP growth rate in Turkey was 4.9% for the 2004-2013 period, the construction sector grew annually on average by 5.9%. The construction sector is among the highest contributors to employment, with a share of 7.4%. As of the end of 2014, the sector employs around 2 million people. While Turkey’s construction material exports abroad stood at a value of USD1.5 billion in the early 2000s, this value has currently risen to USD25 billion. This figure comprises hundreds of different products including iron and steel, glass and ceramics, electronic components and paint. The current year’s figures regarding the construction sector, of which the paint sector constitutes an indispensable part, point to a certain amount of shrinking. As IMSAD announced during the sector evaluation meeting in June, the construction sector has shrunk by 3.5% in the first quarter of this year, while the production of construction materials including paint fell by 4.5% over the first four months of the year. Within the same period, construction material exports fell by 15.8%. IMSAD estimates that if the trend of shrinking is not curbed over the second half of 2015, this will pose a challenge in reaching this year’s target growth rate of 4%. At this point, urban regeneration projects present great potential for development for the whole sector in general and for the paint sector in particular. Within the context of the aforementioned urban regeneration projects, 7 million dwellings are planned to be demolished and rebuilt over a course of 15 years. To date, 1 million among these 7 million dwellings have already been made part of projects within this framework. Experts point out that urban regeneration brings about a certain fall in the demand for repainting dwellings. However, there is another initiative which reverses this process. As part of the initiative to increase energy efficiency, all existing buildings must acquire an energy identity document by 2017. According to IMSAD data, this means that improvement works towards achieving greater energy efficiency in a stock of approximately 18 million dwellings and non-residential buildings must be carried out. This obligation is estimated to become an important renewal market for many construction material categories, mainly paint and insulation materials. This autumn may be a good time to give your home and office a fresher feel. It’s up to you to pick the colors of your liking. And once you pick the healthiest paint as well as the best color, then the largest part of the job will be complete. After all, who wouldn’t want to celebrate the new year in a spacious, lively environment?