The paints and coatings industry in Bangladesh has played an important role in both homes and businesses, even though it faces some challenges. This industry not only makes buildings look nice but also helps protect them. Over the years, it has created many jobs, helping the economy grow.
What was once seen as a luxury has now become something that everyone needs. As Bangladesh works towards becoming a middle-income country, it is growing rapidly with big construction projects and the building and fixing of homes and shops. Because of this, paints and coatings have become a key part of the building process.
Paint Industry in Bangladesh
In Bangladesh, the Paint, Wallpaper, and Supplies market is expected to earn about $1.85 billion in 2024. This market is also predicted to grow at a steady pace of 2.72% each year from 2024 to 2028. This growth shows that more people are using paints and wallpapers as the country develops.
According to new information from the Bangladesh Paint Manufacturers’ Association, the market for decorative paint is worth BDT 5.85 billion. This market is growing at a rate of 6% each year and brings in more than BDT 100 crore for the country.
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List of the paints and coatings companies in Bangladesh:
This article we will highlight some of the most popular paints and coatings brands in Bangladesh market.
- Berger Paints Bangladesh Ltd.
- Asian Paints Bangladesh Ltd.
- Kansai Nerolac Paints Bangladesh Ltd.
- Nippon Paint
- Elite Paint
- Rainbow Paints
- Aqua Paints
1. Berger Paints Bangladesh Ltd.
Berger Paints Bangladesh Limited (BPBL) has been a key player in the paint industry since 1950, starting with imports from Berger UK and later from Berger Pakistan. The company established a factory in Chittagong in 1970.
For the second quarter ending September 30, 2023, BPBL reported sales of BDT 5,273.44 million, down from BDT 5,488.17 million the previous year. However, net income increased to BDT 469.38 million from BDT 443.42 million a year ago. Berger holds a 54% market share in decorative paints.
2. Asian Paints Bangladesh Ltd.
Asian Paints Bangladesh Ltd. began in 2002 as a joint venture with Confidence Cement PLC, producing high-quality paints. The company expanded from selling imported paints to manufacturing over 25,000 KL annually at its Gazipur plant and holds an 18% market share, making it the second-largest paint company in Bangladesh.
With a network of over 1,400 dealers, Asian Paints operates in all 64 districts, serving customers through depots in Demra, Tongi, Chittagong, Sylhet, Comilla, Khulna, Bogra, Barishal, and Mymensingh.
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3. Kansai Nerolac Paints Bangladesh
Kansai Paint Co. Ltd., founded in 1918 and headquartered in Osaka, is a leading global paint manufacturer. Kansai Nerolac Paints (Bangladesh) Ltd. entered the Bangladeshi market in 2018 and has quickly become one of the fastest-growing companies in the country’s paint industry, holding a 7% market share.
The company is involved in significant projects, including the Dhaka Metro Rail, Padma Rail Link, Airport Extension Project, and Rooppur Nuclear Power Plant, highlighting its role in the country’s development.
4. Nippon Paint Bangladesh Ltd.
Nippon Paint, a prominent international paint manufacturer, has operated in Bangladesh since 2014 after establishing a manufacturing facility in Manikganj. The company offers a wide range of products, including decorative paints, industrial coatings, and automotive finishes.
Nippon Paint holds a 5% share of the Bangladeshi coating market and has achieved an annual growth rate of approximately 20%. It operates eight depots and has over 2,000 dealers and more than 600 customer care managers across the country.
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5. Elite Paint
Elite Paint, established in 1952, is the first paint company in Bangladesh and has become a leading brand in the country. Initially started as a small factory in Chittagong, Elite Paint currently holds a 6% market share among local brands.
The company’s “Elite Care” division offers various products for construction solutions, with its flagship product “Super Strength” leading the market. During the pandemic in 2020, Elite Paint introduced a “one-day painting” service, which has now become a regular offering.
6. Rainbow Paints
Founded in 2016 as part of the RFL Group, Rainbow Paints focuses on research and development to produce high-quality products. The company utilizes advanced technology and a robust distribution network, featuring over 250 showrooms for widespread availability.
Rainbow Paints holds a 4% market share and offers services such as Insta Painting for fast, dust-free painting. Customers can also use Rainbow Bank to create custom paint colors. The company has launched 11 new products across three categories: six decorative paints, four wood coatings, and one car paint, aimed at maximizing protection for walls, cars, and wood.
7. Aqua Paints
Octagon Fibres and Chemicals or better known by one of its brands, Aqua, is a leading national paints and coatings company and a major producer of specialty chemicals.
Its origin can be traced back to one of the illustrious business pioneers of Bangladesh, Late Serajuddin Ahmed. He founded the first domestic paint brand in Bangladesh and was responsible for setting up businesses in banking, construction, garments, insurance and many more.
The Aqua Paints brand was launched in 2001. The brand is one of few in Bangladesh where quality is never compromised. Raw materials are sourced from internationally recognized suppliers from Germany, France and China. Through backward linkage, it manufactures several of its own raw materials including acrylic and oil-based resin.
It also manufactures decorative and industrial paints for the largest paint brands in the world.
