RPM International Adds Volteco SpA

At the start of October, RPM International concluded the acquisition of Italy’s Volteco SpA, a leading supplier of below-grade waterproofing solutions, and notably for its Amphibia waterproofing sheet membrane. Volteco also manufactures a line of bagged powder goods for patch and repair applications, alongside flexible liquids, mortars, resins and damp-proofing materials.

Volteco’s waterproofing solutions have been used in numerous high-profile projects in Italy. It has annual sales of about €28 million and is based in Ponzano Veneto. RPM International plans to bring it under its Tremco Construction Products Group.

Berlac Group Acquires Vernici Caldart SRL

Near the end of September 2026, Switzerland’s Berlac Group completed the takeover of Vernici Caldart SRL, a producer of industrial coatings and high-tech enamels of some 50 years standing. Vernici Caldart has been active in industrial finishes for metal, glass and plastic, as well as producing effect paints.

It has two factories in Bellusco (Monza-Brianza) and Cagnano di Pojana Maggiore (Vicenza) and has annual revenues of the order of €35 million. Vernici Caldart was purchased from the private equity fund Itago, which took a majority stake and invested in its operations in spring 2024.

Other Notable Acquisitions

Earlier this year – in March 2026 – the San Marco Group acquired fellow-Italian coatings manufacturer Oikos by way of auction. The San Marco Group is a well-known player in the Italian coatings market and is based in Venice.

Oikos, on the other hand, is a historic brand based in Romagna – one that specialises in decorative finishes for the construction sector. Oikos has been in business at Gatteo Mare for 42 years and continues in its full operations at that site, post-acquisition. It has built up a renowned name for sophisticated design, evolving decorative finishes and niche artisanship in industry.

This takeover saw the San Marco Group fortify its position in the premium and decorative coatings segments both in Italy and abroad.

In the summer, Biesterfeld, the German-based distribution and services company that operates in plastics, rubber and speciality chemicals and ingredients, announced the complete acquisition of two Italian joint ventures: Biesterfeld Polybass and Biesterfeld Polychem. Both of the venture companies had, until that time, been run as 30-year ventures with local joint industry partners.

Finally, in a related area, the Spanish speciality chemicals producer Briolf acquired the Italian manufacturer Inchimica, which deals in adhesives and 2-K polyurethane resins. Inchimica is located in Reggio Emilia and has a workforce of about 20. The company generates ca. €7 million in revenue and develops solutions for industrial, marine, automotive aftermarket and veterinary applications.

Its capabilities encompass proprietary formulation, small-batch production and the customization of formulations, labels and packaging – which positions it as a private-label partner in the industrial sector. This deal sees Inchimica become part of Briolf’s Bonding operations.

All of these deals come against a backdrop of Nippon Paint having bought the France-based Cromology (also active in Italy), recent developments for AkzoNobel targeting Genoa with key plans, and other companies outside the coatings sector proper that have been sharpening their foci on Italy, such as BASF, Mapei SpA and Sika.

An Outlook for Construction Chemicals in Italy

I’ve previously highlighted the more specific growth potential of the Italian paint and coatings sector (CW, September 2025 issue), but with the current emphasis on acquisitions within the sector itself falling on construction and renovation, an alternative and more broad-based view can be obtained by looking at the growth avenues open to the construction chemicals sector in Italy.

A compelling variety of factors on many levels are funnelling into growth in the Italian construction chemicals sector as a whole, and these arise from a diverse background of influences, according to the report Italy Construction Chemicals Market Research Report by Type (Admixtures, Flooring, Waterproofing, Others) and by Application (Residential, Non-Residential)-Forecast to 2035, by Market Research Future. Government-backed infrastructure development is one of the major contributors, with a strong emphasis falling on civil applications such as roads, bridges and railways.

These applications are being driven by high-performing products and formulations, and in many areas of those supplying the Italian construction chemical sector, there is a strong impulse driving innovation in higher-performing products and those of superior durability.

State-of-the-art technologies are also finding favor in the construction chemicals area, which draws on the latest chemical technologies in product formulation, as well as contemporary technological influences such as smart product design and the use of digital tools to improve accuracy and efficiency in projects. Tailored technologies are also gaining ground for industry players, where formulations can be adapted to specific applications.

The ecological angle is also a strong influence, with government legislation supporting green building practices and favoring sustainable solutions with minimal harm to the environment.

Alongside this, there is additional high demand for repair and maintenance of existing structures due to aging structures and buildings. Such upgrades are also seen feeding the demand for modern construction chemicals. Sealants are being highlighted as making good headway for guarding against water ingress.

Behind all of these factors, there is also another high level of R&D aimed at the development of ultramodern, high-performing chemicals for the coatings sector in all of its definitions, which in the long term will translate into the preferred use of smarter and more eco-friendly materials. The compliance agenda on, for example, low-VOC formulations, hailing from a background of strong environmental legislation in Italy, typifies the whole thing.

Setting aside infrastructural applications for a moment, the residential sector in Italy remains the largest single application area. This is being driven by greater urbanization, as Italian city populations will have grown by about 10% over the period 2025 – 2030 (2025 is the base year of the report). Clearly, this emerges as a major driver too for the construction chemicals sector, with demand springing from residential newbuilds and commercial building newbuilds as well.

Once all of these factors have been taken into consideration and calculated, the collective market outlook for the Italian construction remains especially promising. Market Research Future headlines its report with a statement that the entire sector was worth US$943 million in 2025 and is expected to grow at a rate of nearly 8.4% p.a. up until 2035, when the market is projected to be worth US$2.11 billion. And with growth rates like that mushrooming in Italy, it’s little wondering so many companies are looking for a pizza the action!

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According to reporting from the Institute of Materials, Minerals and Mining (IM3), the war in the Middle East has caused crude oil and natural gas prices to surge as ships are held back at the Strait of Hormuz. “But, another big constraint is exports of chemicals and plastics from the region, which will put upward pressure on prices. Large export volumes of chemicals and plastics go through the Strait from Saudi Arabia, Qatar, the United Arab Emirates (UAE), and Kuwait with key destinations being China, the rest of Asia and the EU.”

In his April 2026 column, Yogender Singh, our India/Asia Pacific correspondent, addresses this issue. He reported that coating producers in the Asia Pacific region are going through a highly challenging environment characterized by rising raw material costs, supply chain disruptions, and uncertain short and medium-term demand.

He noted, “most of the countries across the region are experiencing severe disruption in raw materials supply after the U.S.-Iran conflict started…Coating producers are also struggling to manage supply chain disruptions, with some comparing the crisis’s impact to be as profound as the COVID-19 pandemic.”

India and the Philippines are two of the most affected countries, as they are highly dependent on crude oil imports from the Middle East region. Pakistan, Bangladesh and Sri Lanka are also heavily affected. In 2025, Vietnam imported crude oil worth US$7.74 billion (14.15 million tons) from the Middle East region. According to Reuters, approximately 80% of the crude oil Vietnam imported in 2025 came from Kuwait, whose exports are currently frozen by Iran’s closure of the Strait of Hormuz.”

The situation at the Strait of Hormuz remains unresolved and will continue to impact our industry for the foreseeable future.

Kerry Pianoforte
Coatings World Editor
kpianoforte@rodmanmedia.com

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Rupali Haque Chowdhury and Berger Paints Bangladesh complement each other. Leadership is at the core of both their success stories. When you hear the name Berger Paints, the first person who comes to mind is Rupali Haque Chowdhury, an icon of Bangladesh’s corporate world and a living legend of the paint industry.

Berger Paints was founded in 1760 in the United Kingdom by German citizen Louis Berger. The multinational set up its first manufacturing facility in Bangladesh in 1970 and currently leads the country’s paint industry with an estimated 55 percent market share. At present, the company operates two manufacturing plants in Savar, Dhaka, and the Kalurghat Heavy Industrial Area in Chattogram, while construction of a world‑class automated facility at the Mirsarai Economic Zone is underway, with production expected to begin in 2027. With more than five decades of operations in Bangladesh, Berger Paints maintains a nationwide footprint through 14 sales offices, three painter training institutes, and around 3,000 outlets, serving more than 600,000 customers nationwide.

Rupali Haque Chowdhury was born in Patiya, a small town in Chattogram, the southern part of Bangladesh. From a young age, she carried a profound aspiration: to become a doctor and fulfill her father’s unspoken yet deeply cherished dream. Today, he is a prominent figure in the corporate world and unparalleled in the paint industry, despite having dreamed of becoming a doctor during his early age wish. She completed her undergraduate studies in Chemistry at the University of Chittagong, building a strong academic foundation. At a turning point in her life, a close friend encouraged her to pursue higher studies in business, believing her potential extended far beyond a single discipline.

Taking that advice to heart, Rupali enrolled in the Master of Business Administration (MBA) program at the prestigious Institute of Business Administration (IBA), University of Dhaka. This decision proved to be transformative—not only redefining her academic and professional trajectory, but also deeply influencing her personal life. In time, the friend who inspired her to take this bold step became her life partner.

Bangladesh’s First Female Managing Director of a Multinational Company:

Rupali Haque Chowdhury began her professional career with the multinational pharmaceutical and chemical company Ciba‑Geigy (Bangladesh) Limited, where she worked as a Brand Manager until leaving the organization in 1990. In the same year, she joined Berger Paints Bangladesh Limited as Planning Manager. Over the years, she served in a range of departments—including marketing, sales, supply chain, and systems—holding various supervisory and leadership roles. In recognition of her extensive experience and outstanding contributions, she was appointed Managing Director of Berger Paints Bangladesh Limited on 1 January 2008, becoming the first Bangladeshi woman to serve as Managing Director of a multinational company.

Under her leadership over the past 36 years, Berger Paints Bangladesh has consistently retained its market‑leading position. When she took charge as Managing Director, the company’s annual turnover stood at Tk 350 crore; it has since grown nearly tenfold to approximately Tk 4,000 crore today, reflecting sustained growth driven by strong, front‑line leadership.

Source: Berger Paints (BD) Ltd

The above‑mentioned graph shows that, under her strong leadership, Berger Paints Bangladesh Limited has achieved sustained and disciplined profit growth over seven consecutive years, with a similar trend consistently observed in the preceding years as well. Reflecting long‑term strategic direction and effective operational execution, the company’s annual profits increased steadily from BDT 196 crore in FY 2018–19 to BDT 327 crore in FY 2024–25. Over the course of her leadership, she has faced many challenges, with the COVID‑19 pandemic emerging as the most difficult period. Despite the unprecedented disruptions during this time, she managed the company with utmost efficiency and ensured the declaration of dividends. Through strategic decision‑making and the introduction of innovative products, she has taken Berger Paints Bangladesh to a new level of growth and excellence.

She also serves as the Chairman and Managing Director of Jenson & Nicholson (Bangladesh) Limited, a wholly owned subsidiary of Berger Paints Bangladesh Limited. In addition, she is a Director of Berger Becker Bangladesh Limited, a joint venture between Berger Paints Bangladesh Limited and Becker Industrial Coatings Holding AB, Sweden, as well as Berger Fosroc Limited, a joint venture between Berger Paints Bangladesh Limited and Fosroc International Limited, UK.

Most recently, Berger Paints Bangladesh Limited announced through a press release that Ms. Rupali Haque Chowdhury has been appointed as Executive Director of BPBL Subsidiaries, Coordination Director of the Joint Ventures, and Non‑Executive Director of Berger Paints Bangladesh Limited, effective from 01 August 2026.

President of the Bangladesh Paint Manufacturers Association (BPMA):

Rupali Haque Chowdhury previously served as the President of the Bangladesh Paint Manufacturers’ Association (BPMA) for the 2019–2020 term. BPMA is the representative body of paint producers in Bangladesh, dedicated to addressing challenges faced by its members as well as issues affecting the paint industry as a whole. The association works to promote and recognize the highest standards of paint quality while safeguarding the interests of manufacturers.

During her tenure, Ms. Chowdhury emerged as a capable and compassionate leader. Under her leadership, significant support was extended to the painter community, with over Tk 1.75 crore provided to help painters recover from the adverse impacts of the COVID‑19 pandemic. She has also been a strong advocate for the adoption of lead‑free paints, emphasizing their importance for public health and environmental sustainability.

Featured in TIME Magazine and other recognitions:

Rupali Haque Chowdhury’s leadership and achievements continue to earn national and global recognition. Her interview was featured in TIME magazine’s January 30–February 6, 2023 issue, where she discussed Berger’s business landscape, Bangladesh’s growth potential, and how the company is aligning innovation and its product pipeline to drive the future of the country’s paint industry.

Recognized among the Top 50 Women Leaders in the World, Ms. Chowdhury has been acknowledged for her outstanding contributions to corporate governance, innovation, education, and women’s empowerment. Most recently, she was selected as the winner of the “Career Woman of the Year – Corporate Leadership & Industry Excellence” at the Top 50 Professional & Career Women Global Awards – Fifteenth Edition, 2025, hosted by Women in Management (WIM).

Earlier, she was featured in The Daily Star after receiving the “Outstanding Woman in Business – 2019” award at the 19th DHL–Daily Star Bangladesh Business Awards. She has also been recognized multiple times as a Commercially Important Person (CIP) in acknowledgment of her significant contributions to the business sector.

Ms. Chowdhury has also recently been elected President of the Bangladesh Association of Publicly Listed Companies (BAPLC) for a two‑year term. She previously served three terms as President of the Foreign Investors’ Chamber of Commerce and Industry (FICCI). In addition, she is a Member of the Advisory Board of UNICEF Bangladesh and Senior Vice President of the Bangladesh Economic Zone Investors Association (BEZIA).

Her corporate governance roles include serving as an Independent Director of BAT Bangladesh, LafargeHolcim Bangladesh PLC, Bata Shoe Company (Bangladesh) Ltd, SMC Enterprise Ltd, and previously as an Independent Director of Linde Bangladesh Limited and Marico Bangladesh Ltd.

Rupali Haque Chowdhury has become more than just a name—she has emerged as an institution in her own right and a powerful source of inspiration for many. Reflecting on the journey behind her success, she humbly notes, “Many people assume that I have reached the top because of merit alone. But talent is only one part of the story. What truly matters are innovation, honesty, integrity, commitment, and hard work.”

Written by: Sk Emadul Bari – Head WB Architectural Coating, R&D, Berger Paints Bangladesh Ltd

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While all coatings segments are always striving for improved efficiency and sustainability, the marine coatings market is perhaps the most interested in these standards. Regulatory pressures are increasing on the shipbuilding industry, and even a slight advantage can translate to better fuel efficiency. For example, a superior coating can lead to a cleaner hull, which cuts down on drag during transportation.

Vessel efficiency and decarbonization are important trends that marine coatings leaders are seeing. Jessica Doyle, Jotun’s sales director for shipping, said that the biggest trend is still decarbonization. 

“Shipowners are under increasing pressure from regulations to reduce fuel consumption and greenhouse gas emissions,” Doyle added. “As a result, hull efficiency has become a board-level issue rather than simply a maintenance concern. 

“There are some key technology trends we see,” Doyle noted, beginning with hull performance and fuel efficiency, as owners increasingly seek coatings that deliver measurable reductions in drag, fuel consumption and emissions. 

“Performance guarantees and digital performance verification are becoming much more common,” Doyle continued. “And we see that digitalization and hull performance monitoring, using ISO 19030-based analysis and data-driven maintenance planning, are becoming standard tools for fleet operators.”

Mads Bertelsen, director for data and technology for Hempel’s marine business, noted that there are a few trends that are shaping the market for marine coatings. 

“First, the marine coatings market continues to be driven by the close link between coatings and fuel efficiency, which puts high requirements on the performance of marine coatings,” Bertelsen said. “The IMO’s 2023 strategy targets at least a 40% reduction in shipping’s carbon intensity by 2030 and net-zero GHG emissions by or around 2050. In addition, the IMO’s proposed Net-Zero Framework also links emissions performance to an economic mechanism, increasing the financial value of efficiency improvements. As a result, there is growing demand for advanced antifouling technologies, digital performance monitoring, and solutions that support data-driven maintenance decisions. 

“Another trend is the focus on maintaining a clean and efficient hull, where biofouling is moving from a coatings issue to a regulatory issue, giving ship owners and operators another incentive to prioritize proven, high-performance solutions,” added Bertelsen. “Also, digital tools are increasingly supporting customers in understanding vessel performance and making informed maintenance decisions, thereby helping customers optimize efficiency, cost-savings and sustainability.”

“There is nothing new about the demand from shipowners for coatings solutions that support vessel efficiency and compliance, but in the face of tighter regulations, we see a clear trend of owners moving away from evaluating coatings purely on a cost-per-liter basis, and towards a performance-driven view that recognizes coatings as a true operational benefit,” Chris Birkert, marine segment manager, AkzoNobel Marine, observed.

“This is a compliance and performance-driven market, and owners are also recognizing that there probably isn’t a single fleetwide solution that is going to optimize performance,” added Birkert. “Appreciating that no two vessels operate in the same way when it comes to hull performance enables operators to examine the profile of each vessel at a more granular level. 

“This is made possible thanks to advances in technology, which are empowering owners with more access to vessel-generated data than ever before, including speed-loss data. Having this valuable intelligence enables a proactive step to manage hull performance. At the same time, this advance in data capabilities is mirrored by a closer, consultative relationship between us and our customers, drawing on their vessel data, our performance analytics tools such as Intertrac Vision, and of course the expertise and experience of our team.

“With these insights, owners can then develop the right solution for each vessel, from new build to consecutive drydock,” Birkert noted. “Finally, sustainability pressure remains just as important, and owners’ assessments increasingly need to consider their customers’ Scope 3 emissions, as well as compliance costs with regulations such as FuelEU Maritime and the EU ETS.”

Ariana Psomas, PPG global segment director marine drydock and new build, said that one of the biggest changes PPG is seeing involves a move to a more holistic approach to vessel efficiency. 

“Rather than considering coatings, application, maintenance, and digital tools separately, we connect them across the vessel lifecycle,” said Psomas. “At PPG, we call this our 360-degree approach to vessel efficiency. It starts with the hull. Premium hull technologies such as PPG SIGMAGLIDE and PPG NEXEON coatings help maintain a smoother, cleaner hull and reduce the energy required to move a vessel through the water compared to traditional fouling release coatings.

“We then look at how shipyards apply those coatings. Electrostatic spray application, or ESTA, improves transfer efficiency, helping reduce overspray and waste and improve application efficiency in the shipyard,” added Psomas. “Once the vessel enters service, the focus shifts to simpler onboard maintenance.”

Marine Coatings Market in 2026

Industry leaders note that the marine coatings market continues to be strong. Psomas reported that the marine coatings market continues to see strong growth. 

“Regulatory pressures, greater environmental responsibility and the need to improve operational efficiency accelerate demand for advanced fouling control coatings and more sustainable application technologies,” Psomas pointed out. “At the same time, owners continue to invest in decarbonization-driven retrofits to extend the operating life and improve the efficiency of existing vessels. Owners now include low-friction hull coatings, hull optimization and energy-saving technologies in planned drydocking scopes.

Psomas observed that this shift changes the role of coatings. 

“Owners no longer view coatings simply as a way to protect the vessel,” said Psomas. “Instead, they see them as part of a broader strategy for decarbonization and vessel efficiency. As a result, our role also evolves. We partner with customers to help improve fuel efficiency, reduce emissions and maximize asset performance.

“That focus on efficiency extends to onboard maintenance,” Psomas noted. “We see growth in the seastock segment, where owners and operators seek to simplify onboard maintenance, reduce complexity and improve sustainability. Solutions such as the PPG ONE RANGE portfolio address these priorities, making everyday onboard coatings maintenance easier and
more efficient.”

Birkert observed that market demand this year has been shaped less by newbuild volume and more by the pressures on the existing global fleet. 

“First, regulation and fuel cost have converged,” said Birkert. “With EU ETS now at full 100% coverage for shipping, and FuelEU Maritime through its first compliance cycle, improved vessel efficiency via good hull performance has moved from a ‘nice-to-have’ to a direct line on the operating budget.

“Secondly, owners continue to balance total cost across the docking cycle and headline prices – looking deeply at making the right coating choices for their fleet and trading profiles,” Birkert added. “Interest in high-performance fouling control, and in biocide-free technology in particular, continues. Buyers want performance matched precisely to how the vessel actually operates. That shift, from ‘best coating’ to ‘right coating for this vessel’s profile’, is a defining feature of the market in 2026.”

“The marine coatings market has remained robust in 2026, supported by a strong newbuilding in Asia, continued drydock activity, and increasing demand for solutions that improve vessel efficiency and reduce emissions,” said Doyle.

Bertelsen reported that the marine coatings market performance has been mixed between the different subsegments. 

“The newbuilding segment has remained active, supported by continued investment across the shipbuilding value chain, evidenced by the expansion of shipyard capacity,” Bertelsen noted. “On dry dock and sea stock, the market development has been more muted, linked with normal dry dock cyclicality and the broader market uncertainty due to continued geopolitical tensions.” 

Asia-Pacific Remains the Dominant Market

The Asia-Pacific region continues to be the strongest area for marine coatings, with China and South Korea among the key markets for new builds. 

“For new builds, demand remains heavily concentrated in Asia, with China, South Korea, and Japan accounting for the overwhelming majority of global tonnage under construction,” said Birkert. “Maintenance and drydock demand is more distributed, following the world’s major repair hubs across Asia, the Middle East Gulf, Turkey, and the Mediterranean.” 

“The marine market is closely linked between owners that are global, with Europe and Asia as the two dominating regions, and then China and South Korea, which lead in shipyards and coating application,” Bertelsen said. “China is leading the pack on both newbuilding total capacity and current capacity expansion. However, in the long term, we also see continued interest in shipbuilding and maintenance capabilities across several regions.”

Doyle observed that Northeast Asia remains the world’s largest marine coatings market, primarily driven by shipbuilding activity in China and South Korea.

“The strongest growth opportunities are currently seen in China, supported by sustained shipbuilding demand, India, driven by manufacturing growth, maritime infrastructure investment and shipyard expansion, Southeast Asia, benefiting from fleet growth and increasing regional shipyard activity, and the Middle East, supported by energy exports, tanker activity and maritime infrastructure investments,” Doyle noted.

Keeping Up with Environmental Regulations

Environmental regulations continue to be rolled out, and marine coating manufacturers are well prepared for new rules.

Doyle pointed out that Jothttp://www.jotun.comun continuously monitors global and regional developments covering VOC emissions, biocide restrictions, worker health and safety requirements, chemical classifications, carbon reduction regulations and green ship and green shipyard programs. She added that emerging markets generally follow with a delay, but the direction of travel is clear: stricter sustainability requirements, increased reporting obligations, and stronger emphasis on vessel efficiency.

“Shipowners now look beyond compliance,” Psomas noted. “They want solutions that can demonstrate improvements in efficiency and emissions while also strengthening the operational and commercial performance of their vessels. 

“This focus strengthens the need for independent validation and collaboration across the maritime industry,” added Psomas. “For example, RightShip has recognized PPG Sigmaglide 2390 and PPG Nexeon 810 coatings as verified Energy Efficiency Technologies that can improve GHG Ratings. Customers have since achieved verified rating improvements after retrofitting their hulls with the coatings.”

“We’re always monitoring regulatory developments closely and integrate relevant sustainability requirements into our product development and the solutions we provide to customers,” said Bertelsen. “For many years, Hempel has prided itself on delivering high-performance products, and we welcome the industry’s broader focus on improved fuel efficiency and lower environmental impact. Regulation related to decarbonization, biofouling management and environmental reporting is likely to remain an important part of the industry agenda as sustainability becomes an even greater industry priority.”

Birkert said that legislation is moving consistently towards safer, lower-impact products, which AkzoNobel is well
prepared for. 

“Our Intersleek platform has delivered biocide-free foul-release technology for three decades,” said Birkert. “As regulatory frameworks governing biocides and chemicals, including the EU Biocidal Products Regulation (BPR), REACH and Korea’s K-REACH, continue to tighten, and similar regimes are introduced in other markets, our foul-release range remains entirely outside the scope of these constraints.

“We also keep pace by making performance verifiable,” Birkert added. “This year, Lloyd’s Register independently verified the compliance of our vessel performance analysis methodology with ISO 19030, the global standard for measuring hull and propeller performance. That gives owners, charterers and performance analysts assurance that our speed-loss reporting is measured on a consistent, transparent basis, which is exactly what they need when performance data feeds directly into regulatory and commercial decisions.” CW

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The Asia Pacific paint and coatings market is the largest market in the world at an estimated $90 billion. The market is a diverse market with many different segments and geographies. The largest market, of course, is China, but India, Japan, South Korea, and Southeast Asia are all significant markets, as are Central Asia and Australia and New Zealand. 

Over the last several years, growth has been subdued, mainly as a result of a struggling real estate market in China. This year, the added complication has been the impact of the closure of the Strait of Hormuz. This has led to a challenging market in Asia Pacific. But despite those challenges, there continue to be good opportunities for the paint and coatings industry in Asia.

Strait of Hormuz Impact

Outside of the Middle East, Asia has been the most impacted by the closure of the Strait of Hormuz, particularly Southeast Asia, South Asia, Japan, and South Korea. The region gets most of its oil from the Middle East. Also, unlike the Americas, most countries in the region are net oil and gas importers and thus are dependent upon energy imports. The table below shows the energy production and consumption of some of the major countries in the region, and all are energy importers (they consume more than they produce). 

In the region, China is the largest energy producer but also consumes nearly three times what it produces. One significant advantage that China has had is that it has been releasing oil from its strategic petroleum reserves to cover the gap. 

Availability of raw materials has been an issue in Asia, but not to the extent that we feared at the start of the conflict. Oil from other countries, reduction in consumption, and the use of the strategic petroleum reserves have helped stabilize the market. Nonetheless, raw material prices have gone up significantly across Asia. 

The supply chain for paint and coatings raw materials can be complicated, and the exact supply chain is dependent upon each individual raw material. But many of the key raw materials are based on a handful of base chemicals like ethylene, propylene, acetone, benzene, and a few others. In Northeast Asia (which includes China, Japan, and South Korea), these base chemical prices were up significantly, which has driven higher paint and coating raw material prices. We think paint and coatings raw material prices are up in the 20-30% range in the region.

In Southeast Asia and South Asia (including India), the situation was even more dramatic, with paint and coatings raw material prices up about 25% in total.

As noted above, availability of raw materials has not been as large of a problem as initially feared, but some solvents are in short supply, and some resins are also in short supply. If the conflict continues and the fall in global oil and gas inventory levels continues, it is likely that this region will continue to feel the impact and availability will become a more important concern.

China

China was the engine of growth in the global paint and coatings market for many years. It remains the world’s largest paint and coatings market. We estimate the market to be $49 billion in 2026, with decorative paint being about 25% of the value at $12.5 billion. The remaining $36.5 billion of the market is spread out among various industrial markets like automotive, coil, industrial wood, packaging, powder, protective and marine.

Starting in 2022, China’s property market has slumped, and since over half of paint and coatings find their way into some sort of building and construction application, this has slowed growth. As the graph shows, the decline in the China real estate market is showing no signs of ending. It has declined by double digit percentages for several years. 

Expectation is that the property market will remain soft for the coming years and with that, we do not expect a broad-based recovery in the China paint and coatings market. 

The China automotive market has been growing at strong rates, and that has led to growth in the automotive sector over the last few years. This year, production is down as domestic sales have decreased significantly. But the domestic sales decrease has been offset by significant increases in exports of automobiles. Overall, production has been down in the 3-6% range in the first half of 2026. Nonetheless, as the graph indicates, growth in China automotive production has been significant over the last 25 years and after this year, we expect further growth. 

Outside of automotive, manufacturing in China has been flat for several years. The China Purchasing Manages Index (PMI) has been close to 50 since Q2 2023 and is expected to remain so. 

Despite the slow real estate and manufacturing segments, there are growth segments in China. Even though vehicle production is down this year in China, it is expected to grow moderately in the coming years. Furthermore, renewable energy projects are also expected to grow. Also, the overall protective coatings market is expected to grow in China.

If we put it altogether, we expect the China paint and coatings market to grow at a 1% volume rate into the early 2030s. We expect growth in the decorative paint market and other markets related to building and construction to be negative. That will be offset by some growth in the automotive market and modest industrial coatings growth in other segments.

India

India is the second largest paint and coatings market in Asia and is the third largest in the world. Its total size is estimated to be $12.8 billion. Unlike China, the market in India continues to grow strongly. It is the fastest growing large paint and coatings market in the world. The underlying drivers for that growth are favorable demographics (large, growing, and young population) and relatively low per capita usage of coatings giving the market lots of runway for growth. 

IMF is forecasting India’s GDP growth rates in the 6 to 7% range through early 2030s. No other large country can match that growth rate. In addition to the economic growth, the population continues to grow. The UN has estimated that India’s population is growing 0.9% per year. This is faster than other large countries. Furthermore, the per capita usage of paint is low in India. As the graph shows, India’s per capita paint consumption is less than half that of the other major countries in the world.

What is even more surprising is that most of the India paint and coatings market is decorative. We estimate that 77% of the India paint and coatings market is decorative versus 25% in China and 46% globally. This means that non-decorative industrial coatings market has strong room for growth. This is occurring in India as factories expand into India. The graphs show overall manufacturing production, which is increasing at over 5% per year. That is faster than any other large economy market.

Not only is overall manufacturing activity growing strongly, but automotive production has also grown at an 8.7% CAGR since 2000, and is projected to continue to grow at a high rate going forward as the graph indicates.

Japan

In Japan, the market has been flat to down for several years. Although a large economy with a large population, paint and coatings volume has not grown. Mainly this is a result of an aging population that is declining. The other issue impacting the Japanese economy and the paint and coatings market is the depreciating yen. Since 2021, the yen has depreciated by over 50%, which reduces the size of the Japan paint and coatings in U.S. dollar terms. A weaker yen does help Japanese manufacturers export more globally. 

The median age in Japan is 50 years old compared to 30 years old in India and 39 years old in the United States. Furthermore, the population continues to decline in Japan. By 2035, the Japanese population is estimated to decline to 115 million from the current 122 million people. This has resulted in a flat to declining economy and a flat to declining paint and coatings market. This trend has been occurring for many years. As the graph shows, there is a decrease in new building starts in Japan. Over a 30-year period, building starts have declined by 60%. 

The sluggishness in the overall economy is also reflected in the industrial production and automotive production values in Japan. Since 2018, overall industrial output has declined by about 10%, with automotive production declining slightly more over that time period.

Despite the relatively slow growth, Japan does offer opportunities for paint companies. Average selling price in the Japan paint and coatings market is among the highest in Asia (along with South Korea and Australia). 

South Korea

The situation in South Korea is similar to Japan. The population is aging and declining. But average selling prices are relatively high and the country does have a strong marine and automotive coatings market and is a global leader in technology and semiconductor chip manufacturing. 

Over the longer term, industrial production in South Korea has continued to grow, although over the last several years, that growth has slowed to less than 2% per year. In addition to slowing manufacturing growth, much of the growth in the economy is in the semiconductor chip and technology segments, which are not significant drivers of paint usage. The graphs show the growth in industrial and automotive production.

 Putting it altogether, we expect slow volume growth in the South Korea market. We think over the longer term, the decorative paint market in South Korea will be flat and there will be modest growth in the non-decorative industrial coatings markets.

Southeast Asia

The Southeast Asia paint and coatings market is estimated to be $8.9 billion. Like other regions, decorative paint is the largest at 45% of the value of the market. Other key end use markets include wood, marine, protective, auto OEM, refinish, and other industrial markets. 

Countries in this region include Indonesia, Vietnam, Thailand, Malaysia, Singapore, Philippines, Cambodia, Laos, and Myanmar. Indonesia is the largest at about 30% of the market, with Thailand being the second largest at approximately 20% and Vietnam is third at 15% of the market. 

The countries all have economies growing at relatively high rates with building and construction growing at high rates as well. Despite this, these markets can be a bit choppy. Earlier in the year, we were very worried about the impact of the closure of the Strait of Hormuz on the market. This did have an impact on the region as raw material prices increased at significant rates and availability was an issue, But overall, demand has held up and is growing at reasonable levels. For the year, we expect volume to be up about 1%, with demand being up in the 2-4% volume range
next year.

Implications for Paint Companies
And Raw Material Suppliers

The review of the above regions within the Asia Pacific paints and coatings market has several strategic implications for all companies involved in the market. Some of these include:

• China Repaint and Renovation Market: Given the continued decline in the China real estate market, focusing on the repaint and renovation market will lead to more growth. The true DIY portion of the decorative repaint segment is small in China (less than 5%), but there is a significant Do It For Me (DIFM) segment where the homeowner buys the paint, but a contractor applies it and there is a repaint contractor market. Selling into distributors that service this market and raising brand awareness among homeowners and contractors can help paint companies grow in the repaint portion of the market. 

• Protective Markets and Green Energy Markets: Given the conflict in the Middle East and reduced flow of oil through the Strait of Hormuz, we think that it is very likely that many countries in the region will increase oil and gas production as well as increase investments in green energy projects like solar and wind energy. This should lead to more opportunities for protective coatings companies.

• Automotive Market: The China automotive builds are down year to date due to soft auto sales within China, but the export market is increasing significantly, and we expect EV sales to grow in the future. Furthermore, we expect production of vehicles to continue to increase at high levels in India, and thus India would be another market to look for growth.

• Focus on the Premium End: Japan, South Korea, and Australia are all projected to be slow growing markets, but all have high average selling prices compared to other geographies within Asia and other geographies around the world. So even though the growth is not there, these markets could be attractive since they have profitable niches. Focusing on the premium portion of these markets may be an effective strategy.

• Other Countries: Other countries in the region, like Indonesia, Vietnam, Bangladesh, and Kazakhstan, are expected to have economies that are growing at high rates and thus paint markets growing at high rates as well. Many of these countries have low average selling prices, so having an economy or value-based paint is important to enter these markets. CW

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Coatings World interviews Rob Lagendijk, Commercial Marketing and Product Management Director for AkzoNobel’s Automotive and Specialty Coatings Business, and Steve Arndt, Senior Vice President, Global Automotive Refinish Coatings, Surventis.

CW: How did the market for auto refinish coatings perform in 2026?

Lagendijk: The auto refinish market remains resilient in 2026, despite bodyshops continuing to operate in a demanding environment. Across the sector, the pressure is still on them to improve productivity, reduce cycle times and lower their energy consumption, while still delivering consistently high repair quality. Sustainability is also a more immediate business priority. This is leading to customers coming to us for support on practical ways to reduce emissions and run more efficient operations.

Arndt: The automotive refinish market remained resilient in 2026, although demand varied across regions and market segments. While economic uncertainty continued to affect parts of the automotive value chain, the need for collision repair remained stable. In some regions, geopolitical tensions and logistics disruptions continued to create challenges for supply chains, underlining the importance of reliable supply networks across the industry.

CW: What challenges does the market face moving forward in the years to come?

Lagendijk: Looking ahead, the market is likely to face a combination of economic, operational and technical challenges. In many mature markets, uncertainty around vehicle purchasing decisions is continuing as consumers weigh up combustion, hybrid and fully electric options. At the same time, bodyshops are managing skills shortages, rising energy and material costs, coupled with the pressure to improve efficiency and profitability. 

Repair complexity continues to grow, particularly as bodyshops deal with more newer vehicles, including EVs and those equipped with advanced driver assistance systems, which require different repair methods, additional safety considerations and a higher level of technical expertise.

In this environment, bodyshops will increasingly need solutions that help them work faster, more efficiently and more sustainably, without compromising repair quality.

Arndt: The automotive refinish market is changing rapidly and the nature of collision repair is evolving. Driver assistance systems are helping reduce the frequency of minor damage, while many accidents that may previously have resulted in a total loss are now repairable due to advances in vehicle design and repair technology. As a result, body shops are handling fewer routine repairs and a greater share of technically demanding work.

The industry is also facing increasing regulatory requirements, particularly around sustainability, emissions and workplace safety. One example is the EU’s requirements on diisocyanate handling: since 2023, professional users have needed to complete mandatory safety training, which means body shops now carry a documentation and compliance burden that didn’t exist a few years ago.

Companies that can help customers navigate these structural changes while balancing performance, sustainability and regulatory requirements will be best positioned for long-term success.

CW: What are the key issues facing your auto refinish customers and how is your company addressing those needs?

Lagendijk: Our customers are looking for solutions that help them do more with less: improving throughput, reducing energy use, simplifying workflows and maintaining consistently high repair quality. They are also facing the need to attract, train and upskill technicians so they can manage increasingly complex repairs. 

AkzoNobel is addressing these needs through advanced coatings systems, digital color and process tools, and integrated system solutions that help bodyshops improve efficiency, reduce variability and support more sustainable operations. In addition to this, we support our customers with both online or on-site training. 

Arndt: The challenges we hear most often from customers are productivity, workforce shortages and pressure on profitability.

Body shops are looking for ways to repair more vehicles with limited resources while maintaining repair quality and meeting customer expectations. At the same time, finding and retaining skilled technicians remains difficult in many markets.

These pressures show up directly on the bottom line. Repair facilities are facing higher operating costs while continuing to meet expectations for quality, speed and sustainability. This makes it increasingly important to improve efficiency and control costs across the repair process.

That is where we focus our support. Premium coating systems are the starting point, but the real impact comes from combining them with training, consulting and digital solutions. An accurate color match on the first attempt saves time and eliminates costly rework, while efficient workflows help reduce energy and material consumption throughout the repair process. A body shop earns money on the vehicle that leaves the booth, not on the paint it buys. Everything we offer is designed around helping our customers improve that equation.

CW: What are the newest products that your company’s refinish business has launched and what do they deliver to the marketplace?

Lagendijk: One of our latest innovations is Sikkens Autowave Optima, a next-generation waterborne basecoat developed to help bodyshops improve both productivity and sustainability. It introduces a true one-stop application process that can reduce process times by up to 50%, lower paint consumption by around 15% and reduce energy costs and associated carbon emissions by up to 60%, while maintaining the color accuracy and the finish quality customers need.

Its full potential is realized as part of the complete Optima system. Together with Autosurfacer Optima and the newly launched Autoclear Optima, bodyshops benefit from a fully integrated refinishing process designed to improve speed, flexibility and operational efficiency. Autosurfacer Optima can deliver energy savings of up to 85% compared with conventional fillers, while Autoclear Optima offers fast drying, flexible curing options and premium finish quality, helping bodyshops increase throughput without compromising results.

Arndt: Our innovation efforts extend beyond individual products and increasingly focus on helping body shops improve overall business performance.

A key area is the continued expansion of Refinity, our digital ecosystem for the refinish industry. Refinity brings together color, training and business solutions in one platform, helping body shops improve color matching accuracy, streamline workflows and make better-informed business decisions. We continue to introduce new capabilities that further connect data, processes and technologies across the repair journey.

Process innovations remain equally important. Approaches such as Wet-on-Wet application help reduce process steps, shorten repair times and lower energy consumption, supporting higher throughput and improved workshop productivity.

CW: Are there any new developments worth noting (expansion, consolidation, new facility, acquisition)?

Arndt: The most significant development for us is the launch of Surventis as an independent coatings company. Operating as a standalone company allows us to focus entirely on coatings and surface solutions and invest directly in the areas that matter most to our customers and markets. This means faster decision-making and an even stronger customer focus. 

On a technical level, we are also advancing collaborations and technologies that support the future of collision repair, including automation, digitalization and more connected repair processes. One concrete example is our strategic cooperation in robotics, where our coating materials are being used in robotic systems for automated painting in daily operations — helping push the process toward greater precision and efficiency. CW

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From Strength to Strength

China is the largest automotive coating market in the world by a large distance – and one of the most complex. The country accounts for more than 32% of the global automotive coating market. In 2025, about 520,000 tons of automotive coating products, including e-coat, primer, basecoat, clearcoat and hardener, were consumed in the automotive sector. 

In value terms, the sector is estimated at about 57 billion yuan ($8.55 billion) at the end of 2025. Chinese automotive coating sector is made up of more than 300 big, mid-sized and small-scale producers. Foreign multinational paint and coating producers currently account for more than 50% of the market share in the Chinese automotive coating industry. Major companies, namely PPG, BASF, Kansai, Nippon Paint, Axalta, and KCC, are some of the leading producers and suppliers of automotive coating products in China. 

Automotive coatings have been spurring the overall paint and coating industry in the country for the last few years, as the architectural segment has been going through one of its leanest periods for the last five years. 

Automotive coating demand surged by double digits during 2025, after subdued growth in 2024. In absolute numbers, automotive coatings registered a volume growth of 13.1% in 2025 over the previous year. In value terms, the growth at 14.8% was more impressive than the volume growth. 

Chinese automotive coating producers had a forgettable year in 2024, when volume growth in this sub-segment was a meager 4.3%. 

China’s passenger car industry is the major demand driver for automotive coatings in the country. At more than 30 million cars in 2025, the country produces more passenger cars than the next four major producers – Japan, India, Germany, and South Korea – combined. The country’s automotive production rise has been supported by strong domestic demand, an aggressive EV industry, and the global expansion of brands such as BYD, SAIC, Chery, Geely, and Changan.

In addition to passenger and commercial vehicles, two-wheelers have also emerged as significant consumers of automotive coatings during the past ten years. According to the China Chamber of Commerce for Motorcycle, the industry’s output and sales reached 22.11 million and 21.97 million units in 2025, up 10.6% and 10.2% year on year, respectively. Additionally, exports hit 13.37 million units during the year, marking a 21.3% increase.

Electric scooters and bikes are another emerging segment for automotive coating producers. China has made the fastest progress among its peers in the manufacturing and export of these vehicles in recent years. This segment is expected to account for the bulk of coating consumption in the two-wheeler segment in the next few years.

Automotive producers in China are increasingly demanding higher quality products from automotive coating producers. The increase in proportion of luxury vehicles over the years has also led to a steady increase in the consumption of premium and higher value-added coating products. Consumption of these value-added products has outgrown the average growth of the automotive paint and coating industry by many percentage points. 

Supply chain disruptions, rising raw material prices, and the emergence of smaller automotive coating producers, who have reportedly resorted to a price war, are three of the largest challenges for automotive coating producers in the country. Most of the large automotive coating producers have been investing in supply chains to ensure the timely delivery of raw materials and finished products.

Major Expansions and Announcements

To support new growth, Nippon Paint opened its largest global automotive coatings production base in Tianjin in May 2025, investing more than CNY700 million (USD$99.9 million) in the plant with an annual capacity of 133,000 tons, boosting China’s automotive coating output by 30 percent. 

Since entering the Chinese market in 1992, Nippon Paint has expanded its operations across various segments of the paint industry. Currently, the company operates more than 74 production bases in mainland China. 

In 2025, BASF’s Coatings division expanded its production capacity for polyester and polyurethane resin at its Caojing plant in Shanghai, China. Originally established in 2015 with an installed capacity of 8,000 tons per annum of polyester and polyurethane resin, the plant has now increased its capacity to 18,800 tons per annum — a more than two-fold increase.

BASF Coatings is also increasing its electrocoat binder production through process optimization at the Caojing site. This strategic move will strengthen BASF Coatings’ leading position in the dynamic automotive coatings market, enabling the company to better support the growth of all coating layers used by automotive OEMs and component manufacturers over the next decade in the Asia
Pacific region.

“The increased production capacity for resins and planned additional capacities for binders will enhance our supply reliability, enabling us to meet the growing demand for automotive OEM coatings in the region. This expansion underscores our commitment to local production and our ability to respond swiftly to customer needs,” said Patrick Zhao, senior vice president, global automotive OEM coatings at BASF.

In 2025, PPG opened an automotive coatings color creation studio at the PPG Global Coatings Innovation Center in Tianjin. 

The studio is equipped with state-of-the-art equipment to ensure high-precision color presentation and immersive experiences for clients, as well as the latest software tools to enhance color design support.

“The opening marks not only a significant strategic move for PPG in the Chinese market, but also a milestone in its deeper engagement with the new energy vehicle (NEV) sector,” said Cindy Li, PPG senior color styling manager, Asia Pacific, automotive OEM coatings. “As a global leader in coatings and color solutions, PPG reaffirms its long-term commitment to China by offering innovative, customized, and sustainable color solutions that help Chinese automotive brands achieve global success.”

PPG operates five main manufacturing sites (Tianjin, Shenyang, Wuhu, Jiading and Zhangjiagang) for automotive OEM coatings in the country. CW

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Analysts project Eastern Africa as one of Africa’s fastest-growing regions. Growth is projected to ease from 6.6 percent in 2025 to 5.9 percent in 2026, a trend the African Development Bank (AfDB) attributes to “rising energy and import costs linked to Middle East disruptions.”

However, the growth trend is expected to rebound to 6.4 percent in 2027 because of “the benefits of macroeconomic policies and investments in key public infrastructure kick in, coupled with gains from sustained efforts toward economic diversification.”

“Six countries in the region —Djibouti, Ethiopia, Rwanda, South Sudan, Tanzania, and Uganda — are expected to post growth rates above 5 percent in both 2026 and 2027, driven by strong performance in agriculture, mining, services, and exports,” AfDB says in its latest African Economic Outlook 2026.

Furthermore, the United Nations Economic Commission for Africa (ECA), which promotes the economic and social development of its 54 member states within the African continent, affirms the Eastern Africa region is experiencing growth rates of nearly 6 percent,  comfortably exceeding the African average of 4.1 percent.

ECA’s 2025 analysis of the region’s economic performance shows that some countries such as Rwanda and Tanzania posted “exceptional performances” at 11 percent and 6.4 percent, respectively.

It said Kenya maintained a steady economic resilience at 5 percent for 2025 as Uganda’s economy showed a strong early-year surge, peaking at 8 percent in the first quarter of the year before easing to 4.8 percent by the third quarter.

And as Basco Paints Uganda said in a recent social media post, “the paint industry doesn’t just follow the economy, it reflects it.”

“When construction picks up, paint sales follow closely behind,” the company said.

“When more people buy homes or renovate existing ones, hardware stores see more foot traffic, painters get more work, and local suppliers restock faster. It’s one of the clearest signs that people are building, investing, and looking ahead with confidence,” Basco Paints added.

Kansai Paint

One of Eastern Africa’s top paint and coatings market players is Kansai Paint, which acquired shares in the Sadolin Group, a coatings manufacturer in the East African, now Kansai Plascon East Africa Ltd. Kansai Paint sees the growth of the region’s economy, though varying from country to country, as a long-term business opportunity for the industry.

The company has been building on its ONE KANSAI vision, an initiative it says is about creating one unified global way of working, and the ONE AFRICA system it says has helped in the reorganization of the business operations in Eastern Africa and Southern Africa, “focusing on unification of strategies and visions of the two regions.”

It says in its latest annual report to shareholders that the East Africa region remains a key growth market for the company for its architectural paints and coatings market.

“Africa is our growth engine, a market that combines growth and profitability (and) we plan to leverage our leading share in the architectural paints and coatings market to capture market growth driven by growing populations,” it added.

The company, according to Prejay R. Lalla, executive officer, head of Africa Business Unit, is committed to maintaining its position as market leader in Uganda and Tanzania. Meanwhile, it is increasing its market share in Kenya and sees stable long-term economic growth, especially in Uganda and Tanzania, despite what is sees as short-term volatility.

Already, Kansai Paint says, through Kansai Plascon Eastern Africa Ltd, it has established a solid business presence in Kenya and aims to drive market share expansion. This is largely focused on meeting the increasing demand for architectural paints and coatings and largely driven by the region’s urbanization trends.

Crown Paints Group

Elsewhere, Crown Paints Group, which recently welcomed Mustafa Turra as the new chief executive officer replacing the long-serving Dr. Rakesh Rao, says the Eastern Africa region “is experiencing significant growth, with increasing demand for our high-quality coating solutions.”

The group says that despite its operating environment in the region remaining highly competitive and increasingly influenced by factors such as foreign exchange volatility, rising input costs, global supply chain disruptions, and evolving sustainability expectations, Eastern Africa continues to present significant long-term growth opportunities for the Crown Paints brand, which is largely distributed mainly in Kenya, Tanzania, Uganda and Rwanda.

It says there are strategic growth opportunities in Eastern Africa for the company and its competitors as the region goes through “significant growth, with increasing demand for our high-quality coating solutions.”

Kenya

For instance, in Kenya, the government is increasing government expenditure in the affordable housing program, previously initiated to address the housing demand estimated at 250,000 homes annually.

The government has stepped up implementation of the program, targeting an increase in the number of new homes constructed annually from 50,000 homes, predominantly in the high-end market, to at least 200,000 homes. The emphasis is on expanding the development in low-income segments across the country’s urban areas.

Meanwhile, during the fiscal year 2026/2027, the government promises to spend more on the development of more than 22,000 institutional housing units for security officers, teachers, healthcare workers, and other government workers.

John Mbadi, national treasury cabinet secretary, announced a US$1 billion budgetary allocation in the fiscal year 2026/2026 for the housing, urban development and public works sub-sectors.

He said the funding includes US$142.3 million under the Kenya Urban Programme, US$387.2 million for construction of affordable housing units, US$160 million for social housing units, US$154.6 million for institutional housing, and US$139.3 million for critical social and physical infrastructure.

An additional US$20.7 million has been set aside in the current financial year for the Kenya Informal Settlement Improvement Project Phase II and US$4 million targeted to support the construction of headquarters for some of the country’s 47 devolved governments.

This investment in residential and commercial buildings will not only improve living conditions, provision of services and local governance capacity as Mbadi says, but is also expected to drive demand for eco-friendly paints, varnishes, and surface treatments across Kenya’s urban areas.

Musalia Mudavadi, Kenya’s prime cabinet secretary and cabinet secretary for foreign and diaspora affairs, told participants at the recent second edition of the Africa Urban Forum in Nairobi that investing in urban housing would not only meet the demand for shelter but also stimulate industries, generate employment, and anchor communities.

“Housing is too often treated as a social obligation or a consumption good but in reality, it is foundational infrastructure—and an economic sector in its own right, with deep linkages across construction, manufacturing, finance, and services,” he said.

“Well-planned and well-financed cities can drive industrialization, unlock productivity, create employment at scale, and serve as engines of innovation and can connect markets, deepen regional integration, and expand opportunity for millions,” Mudavadi added.

Uganda and Tanzania

Elsewhere in Uganda, the government in the past year has been focusing on expanding infrastructure in the education sector, with official reports saying that 90 additional secondary schools were constructed in 2025 and another 54 existing were expanded, a program likely to have increased uptake of paint and coatings.

Furthermore, demand for different types of paint and coatings is expected to remain high as Uganda invests in preparation for the 2027 Africa Cup of Nations (AFCON 2027), to be held from June 19 to July 17, 2027 and co-hosted by Kenya and Tanzania.

In June, the government said the country’s new Hoima Stadium had been completed, while upgrades to Namboole Stadium is ongoing. Construction of other required tournament facilities remains on schedule, as is the construction of Akii-Bua Stadium.

Elsewhere, Tanzania has also been investing in the transformation of Dodoma City, the country’s administrative capital with more than 765,000 people, in partnership with the private sector, diplomatic missions and international organizations.

The government has committed to invest more in the development of Dodoma and ensure it serves as a “symbol of economic transformation, a strategic hub for transport and logistics serving Tanzania and neighbouring countries, and a model of sustainable urban development for other regions and cities across the country.”

Other large infrastructure projects such as the ongoing Standard Gauge Railway and Msalato International Airport are also expected to provide additional opportunities for the country’s paints and coatings manufacturers and distributors.

Dodoma is one of the many cities being expanded in Eastern Africa as the region experiences what the French Development Agency(AFD), a public French financial institution that supports and complements France’s diplomacy, says is “one of the fastest rates of urbanization in the world, with annual growth exceeding 5 percent.”

With more than 50 percent of urban residents in Eastern Africa living in informal settlements, governments in the region are fast-tracking construction of new housing units to meet demand.

“Investments in housing will not only provide shelter but also create millions of jobs, stimulate local economies, and improve the quality of life for millions of Africans,” Judith Nabakooba, Uganda’s minister of lands, housing and urban development, was recently quoted as saying.

Addressing the housing deficit and prioritizing sustainable urban planning, she said, would enable “Africa (to) unlock the potential of its cities to drive innovation, economic growth, and social progress.”

With Eastern Africa’s economy expected to continue on its growth trajectory, the region’s paints and coatings market is expected to respond with a surge in consumption of sustainable protective, decorative, and industrial solutions to meet demand triggered by the emerging residential and commercial housing programmes as well as physical infrastructure driven by rapid urbanization.

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Colombia’s newly elected president Abelardo de la Espriella has estimated that $9.6 billion in damage occurred from the August 10, 2026 earthquake that has killed at least 294 people and injured more than 4,000, as of mid-August. The 7.4-magnitude quake destroyed hundreds of buildings in western Colombia, ‌including Cali and Pereira.

Elected three days before the quake, De La Espriella said the damage included buildings lost worth some 24.5 trillion pesos and damaged infrastructure worth 5.5 trillion pesos. He announced the formation of a special fund to rebuild homes, infrastructure, hospitals and schools. Damage assessment is being managed by the Unidad Nacional para la Gestión del Riesgo de Desastres (UNGRD), the national disaster risk management unit.

The damage left “more than 12,000 homes destroyed, more than 74,000 residences damaged, more than 200 roads cut or impassable, five airports affected, 44 aqueducts damaged, and 14 of Colombia’s 32 departments touched by the disaster,” TechTimes reported. Cali alone lost dozens of buildings. The U.S. State Department has estimated the damage to include 1,577 residential buildings, along with 37 others that were completely destroyed.

Assistance Mounts, More is Needed

International assistance pledges worth more than $1.3 billion have followed quickly. The Inter-American Development Bank (IDB) pledged $300 million, the World Bank delivered $200 million, the U.S. government pledged $26.5 million, and the European Union pledged $2.3 million thus far. Among many non-government agencies providing assistance, the UN Emergency Relief fund pledged $5 million.

As in Venezuela (see CW June 9), paint and coatings companies already established in Colombia will be called upon for donations at the same time as national recovery programs arise with domestic and international funding to purchase repair materials.

The leading paint and coatings companies in the country include Pintuco, also known as Compania Global de Pinturas, an AkzoNobel property, based in Medellin, Antioquia state, with sales of $189 million; Invesa, based in Envigado, Antioquia state, with sales of $96 million; Colorquimica, based in La Estrella, Antioquia state, with sales of $62 million; Sun Chemical Colombia, based in Medellin, Antioquia state, with sales of $59 million; and PPG, based in Itagui, Antioquia state, with sales of $51 million, according to Dunn & Bradstreet.

Housing Shortage Worsens

Colombia suffered from an acute housing shortage prior to the quake. The World Bank estimates some 3.7 million households — more than a quarter of the country’s total — face a housing deficit. Spanish bank BBVA estimates that the housing deficit affects some 4.9 million households — or 26.8% of the national total.

In May, BBVA also projected that final numbers on new housing sales in 2025 would grow 9.0% and by 11.5% this year. Construction of all types represent 4.3% of the country’s $438 billion economy, the bank notes.

Housing was a targeted goal of prior governments, which supported a goal of adding some 428,000 low-income homes through 2030, under the auspices of Cámara Colombiana de la Construcción (Camacol), the national construction association. While De La Espriella’s predecessor was said to have reduced funding for the program, housing is likely to become a highly visible challenge to the new administration.

Pintuco Leads the Colombian Market

Pintuco, the largest company in the Colombian paint and coatings industry, likely will lead other market players in the supply of materials both through donation and sales. The company is estimated to control nearly half of the domestic market.

Pintuco has 200 company stores in the country and plans to raise that number to 300 this year and to 450 by 2028. The company also supplies thousands of separate points of sale across the country.

The Pintuco Foundation has long been active in donating paint and coatings for urban and suburban communities, with programs that have directly affected more than a million people.

“Through the Fundación Pintuco, which celebrates 50 years of industry, we consolidated a model of integral social intervention that articulates art, color, community participation, training for employees and the improvement of housing. This allows us to contribute in a way that is sustainable to the welfare of the communities and to the empowerment of our inhabitants,” according to an August company statement by Fernando Domingues, president of Pintuco and AkzoNobel in Colombia.

“We have colored 189 educational institutions, 445 public spaces, and helped create 1,524 urban murals, many of them in association with local artists and youth collectives,” Domingues noted in the statement. In 2025, the foundation budget for social outreach was estimated at $2.1 million.

Pintuco’s outreach programs help create new customers and secures their loyalty. This helps increase paint and coatings consumption on a national level.

“The per capita consumption of paint in Colombia…is currently 3.7 liters per year, but in the region [Latin America] there are countries with consumption of 6.5 liters per year. This opportunity is linked to [dependent on] more specialized sales, innovative solutions, and above all else, to major access to dedicated channels,” Domingues said in the company statement.

Paint & Coatings Industry Growth

The Colombian paint and coatings market exceeded $1 billion in 2024, according to a July 2025 Marketresearch report. The analysts estimate that the market will grow to a level of $1.55 billion by 2034.

Growth in the architectural segment is virtually assured. Housing starts are rising, with over 575,000 total units (including both pre-sales and active construction now under permit by homebuilders in Colombia, according to Rio Times. Social program housing accounts for roughly two-thirds (about 380,000 units in the overall pipeline) of all residential development in the country, the agency notes.

Apart from new housing, hotel development for the robust tourism sector is growing, with 2025 revenues at a cumulative $9.4 billion, according to Tourism Review. Luxury hotels serving international business travelers are a particularly fast-growing niche. The Hilton chain, for example, opened several new properties during 2025 and has announced plans to open the 168-room Hilton Garden Inn Pereira in October, near the Matecaña International Airport. Similarly, the Four Seasons Hotel and Residences in Cartagena opened in April.

Along with the architectural segment, industrial paint consumption in Colombia will continue to rise on the country’s Plan Maestro de Transporte Intermodal (PMTI), its 25-year intermodal transport master plan, launched a decade ago. Over the next two decades, 86 projects affecting close to 300 communities will be developed through a $48 billion investment. The World Bank ranks Colombia third in the world for efficiency in public-private partnership (PPP) program management, which already involves some $10 billion worth of combined investment.

Automotive paints and coatings also are rising. Total new car registrations were up more than 50% during the first half of 2026, with electrified vehicles accounting for roughly half of the overall market, according to Valora Analitik.

“The Colombian automotive sector experienced a strong recovery in 2025 and has further accelerated its momentum in 2026. Growth has been driven by improved household consumption, the rise of utility vehicles, and the advancement of hybrid and electric technologies,” reported BBVA in May.

Limits to Growth

Recovery from the earthquake will take time and continued support by governments and NGOs alike.

Among other challenges to the growth of the paint and coatings industry in Colombia are high corporate tax rates. Colombia’s general corporate income tax rate is a flat 35%, according to March report by PwC. Resident companies pay this rate on worldwide income, while non-resident foreign entities pay it only on income sourced inside Colombia, the accountants note.

Some paint companies in Colombia say they pay even higher taxes. “Colombian companies pay roughly 50% of income in taxes — something you don’t see in almost any other country,” noted Pinturas Bler CEO José William Ruiz in a March Rio Times interview.

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And while that corporate ambition may not have succeeded for Nippon Paint, it has been strengthening its position in the European automotive refinish sector with the transfer of shares from Wuthelam Holdings to Nippon Paint as subsidiaries.

Hence, this month I’m revisiting the theme of Japanese paint companies in the EMEA region, since much is worthy of examination and update. Industry followers will be aware that Kansai Paint has been busily building up its hand in Europe as a major center for industrial coatings technologies (and embarking on a spot of rationalization too). Meanwhile, in Africa, a change of approach for the company is seen yielding brighter prospects there.

Kansai Paint Thriving through Industrial Coatings Developments

The long-term strategy played out by Kansai Paint as a more thoroughly global player reveals itself in the company’s latest financial data more clearly than ever. Recent years have seen Kansai recover from a sales dip to ¥66 billion in Europe in 2020 (COVID period: not especially unusual), increasing steadily and dramatically since then to ¥112 billion by 2022 and ¥ 156 billion, which can be seen from the clustered column chart. 

The chart also illustrates that the scale of European sales has grown to be much more aligned with those of Japan and India individually. Yet despite its astonishing European sales group over that period, the European operations reported a net loss of ¥ 979 million in 2024.

Source: Kansai Paint Integrated Report 2026

A summary approach of looking at its European development arrives in considering that Europe accounted for 16% of Kansai’s global sales in 2020, but 26% in 2024 – that’s a sixth to more than a quarter in a four-year window.

When considering the data according to segment, growth in the sales of automotive coatings almost doubled between 2020 and 2024 (moving from ¥90 billion to ¥176 billion). Also, there’s a noticeable increase in industrial coatings turnover – which had been the target of its acquisitions with a view to subsequent globalization, these increasing by about two-thirds from ¥102 billion to ¥168 billion between 2020 and 2024.

The company is currently in the midst of globalizing the technologies of the rail paint and coatings business from the Weilburger Group, and the same for its non-stick coatings technologies, which are being transferred even to its native Japan.

Growth in the architectural coatings sector can be seen flattening out over the period of 2022 to 2024.

Source: Kansai Paint Integrated Report 2026

All of these figures, which have been published in Kansai’s latest annual report, highlight the company’s current strategy and position in its 18^th Medium-Term Plan, which is focused on the globalization of the company’s activities. 

The report outlines Kansai’s plans for more growth in the rail coatings sector; although the company is prominently positioned for supplies in the railway OEM sector, good future prospects are to be found by tapping into more of the rail maintenance and refinish markets – and since Kansai already has a strong background in refinish coatings, this is an attractive opportunity for the company to capitalize on. Rail coating demand is being driven by increased urbanization and greater demand for efficient public transport.

In the ACE coatings sector, which Kansai paired with rail coatings to form a new division last year, the company boasts a full complement of chemical technologies (ED, liquid and powder) which play into final formulation selection in achieving everything that needs to be encapsulated in brand identity; this is a key reason for Kansai’s ongoing success in the ACE coatings sector around the world.

Now it’s building on that position by globalizing its technologies in this area, such that it can overcome regional variations and shortfalls, thereby offering a supremely consistent set of technological offerings globally.

Just recently, the company’s Kansai Helios operations in Central Europe had announced a restructuring in the Adriatic region, which would amount to a gradual transfer of its Chromos Boje I Lakovi manufacturing operations in Zagreb to its other facilities in Serbia and Slovenia. This is expected to happen slowly over the coming years.

Furthermore, Kansai Paint has also recently acquired the remaining 50% of Polisan Kansai Boya (in Türkiye) from Marmara Holdings, according to disclosure reports from both parties. Kansai Paint and Nippon Paint have both strengthened their presence in Türkiye over a relatively long period of industry history, since it’s an attractive country for decorative paints and automotive coatings demand, with Türkiye’s demographics favorably tilted towards the young.

Overall, Kansai now sees itself as eighth in a list of the world’s top paint makers and considers itself #9 in Europe. Sector-wise, it sees itself as #1 in the European rail coatings market. #1 in the European industrial coatings sector and #5 in the continent’s ACE coatings market.

The African Scene

Meanwhile, things are looking up for Kansai’s operations in Africa. Up until quite recently, Kansai has run its Eastern African and South African operations quite independently but is now working on the greater integration of those operations and finding greater success in cultivating them together under its ONE AFRICA program.

Kansai Paint reports that it is well-placed for tapping into the African paint and coatings markets from the demographic perspective (rapid growth of African population etc.) but for the near-term considers its African participation by sector to be limited.

The company’s Kansai Plascon operations give it an overwhelming lead in the continent’s market, and it’s #1 in Africa. It plans to tap into the favorable demographics with its strong architectural coatings presence, as increasing urbanization in Africa over the next 25 years will generate sizeable growth and demand in the long run, although some additions to its portfolio would help fulfill some broader unmet market demands that the company is aware of locally.

Considerable potential growth is being targeted in Africa’s high-growth markets such as Angola, Ethiopia, Madagascar, Ghana and Rwanda, and entry into some of the markets in the west and north of Africa is also not to be ruled out.

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