PR Newswire: news distribution, targeting and monitoring
Home Page > News Releases > APAC

Decorative Paints and Coatings Manufacturers Focus on Water-based Products to Leverage Green Trends

2017-04-11 14:30
print
rss

Urbanisation and the subsequent demand for more buildings present strong growth opportunities for decorative coatings, finds Frost & Sullivan's Visionary Science team

CAPE TOWN, South Africa, April 11, 2017 /PRNewswire/ -- Driven by urban migration, supportive government policies, and a movement towards cleaner technology, the combined Kenyan and Tanzanian decorative paints and coatings market is expected to achieve a CAGR of 6.7% up by 2020. Water-based paints are expected to account for 64.7% of the market, and solvent-based paints for the remaining 35.3%. Manufacturing standards in both countries are already changing, driven by government legislation to reduce the levels of VOCs and lead emissions. The markets will also benefit from the high urban migration projected in the two countries, which will increase the demand for residential and commercial buildings and; subsequently, for decorative paints and coatings.

"The Kenyan market outpaced the Tanzanian market in 2015, primarily due to its more suitably established manufacturing industry and development of ports to facilitate raw material imports," said Frost & Sullivan Visionary Science Research Analyst Ashley Arumero. "On the other hand, the lower maturity of the paint manufacturing industry in Tanzania has eased the entry barriers for potential participants."

To find out more information about this analysis, and to sign up for a complimentary one-hour interactive session with Frost & Sullivan thought leaders, please visit https://goo.gl/O3yyV5 

Decorative Paints and Coatings Market for Kenya and Tanzania, Forecast to 2020, recent analysis from Frost & Sullivan's Future of Chemicals & Materials in Infrastructure & Mobility Growth Partnership Subscription, finds that the total market size was 66.2 million litres in 2015, and this is expected to reach 91.5 million litres by 2020. Crown Paints Ltd, Basco Paints, and Insignia Ltd dominate the market, while Sadolin Paints and Goldstar Paints are trying to expand their shares.

Access to raw materials is a vital competitive advantage, as both countries import more than 90% of the feedstock. This also makes the markets vulnerable to price volatility in international markets. The weakening of the Kenyan and Tanzanian shillings, and limited technological innovations, have significantly reduced investments in local research and development (R&D). However, these restraints offer growth opportunities for international participants with substantial R&D resources.

"Despite the challenges of low raw material availability and price fluctuations, the markets are expected to grow positively due to rising urbanisation in both Kenya and Tanzania," noted Arumero. "Additionally, the rising purchasing power of the citizens is expanding the middle class demographic, which, in turn, is creating a need for more residential and commercial buildings - the main end users of decorative paints and coatings."

Other topics from the Chemicals & Materials subscription include: Mining Explosives Market in Southern Africa; Supply Chain Efficiencies in the Chemicals Markets in Sub-Saharan Africa; Opportunities for Chemical Companies Industrial Wastewater Reuse in South Africa and Namibia; South African and Nigerian Cement Additives; Chemicals Market in Nigeria and Kenya; Automotive Lubricants Market—Nigeria and South Africa; Crop Protection Chemicals Market in South Africa and Kenya; and Plastic Packaging Market in South Africa, Kenya, and Nigeria. All studies provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Decorative Paints and Coatings Market for Kenya and Tanzania, Forecast to 2020
MBD5-39

Contact:
Samantha James
Corporate Communications – Africa
P: +27 21 680 3574
F: +27 21 680 3296
E: samantha.james@frost.com

http://www.frost.com

 

Source: Frost & Sullivan
Related Links:

Featured Video

Recent Releases

Chemical Recent Releases

Construction/Building Recent Releases

Environmental Products & Services Recent Releases

Green Technology Recent Releases

Home Improvement Recent Releases

Household Products Recent Releases

Household/Consumer/Cosmetics Recent Releases

Advanced Search
Search
  
  1. Products & Services
  2. News Releases
  3. Knowledge Center
  4. Journalists & Media
  5. Multimedia Theater
  6. Contact Us