Paint manufacturers are increasingly investing in the development of environmentally friendly products, as highlighted by Mohsin Habib Chowdhury, Chief Operating Officer of Berger Paints Bangladesh Limited.
Mohsin Habib Chowdhury emphasized that the industry is focusing on producing paints that are free from lead and low in volatile organic compounds (VOCs), which contribute to reducing air pollution.
Despite these advancements, the paint industry is grappling with challenges from the ongoing economic slowdown. Chowdhury noted that the rising value of the US dollar poses a significant hurdle for companies that depend on imported raw materials. The Red Sea conflict and global economic downturn have also disrupted logistics and increased shipping times, leading to a shortage of vessels in South Asia.
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Chowdhury, with over 29 years of experience in the paint sector, pointed out that regulatory interventions are needed to support the industry. He criticized the supplementary duty of 5 percent on paint products and the new tax on primers, which he argues should be reconsidered, as paint plays a crucial role in protecting infrastructure.
The market for paint products in Bangladesh is expected to surpass Tk 6,000 crore this year, with projected annual growth of up to 4 percent from 2024 to 2028. This growth is driven by economic development, urbanization, and rising disposable incomes. Despite a 7 percent decline in sales growth last year, the domestic paint market shows promise due to increasing per capita consumption and awareness.
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Challenges persist due to global and local economic crises, including the Russia-Ukraine war, which has impacted supply chains and led to a shortage of the US dollar in Bangladesh. Import costs have risen by around 30 percent over the past two years, forcing companies to increase product prices.
Berger Paints leads the domestic market among approximately 40 paint companies, including multinational firms. The company is committed to social responsibility by using eco-friendly materials, reducing its carbon footprint, and supporting local communities. Berger also innovates with products designed for local climates, such as its WeatherCoat Smooth and WeatherCoat Supreme paints.
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Berger’s commitment to innovation is evident in its introduction of the “colour bank” machine offering over 5,000 shades and its partnerships with global brands like PPG, Clariant, and Beckers Group. The company’s diverse product range includes decorative paints, wood coatings, vehicle refinishing solutions, and more.
Chowdhury emphasized Berger’s dedication to customer-centric innovation with products like “Easy Clean” paint, designed for high-traffic areas. However, currency volatility continues to impact profitability due to the costs of high-quality raw materials sourced from abroad.
Source: The Daily Star
