By Dr. Muhammad Nawaz Iqbal
For the first time, the size of Pakistan’s economy topped $300 billion. Although there are no official statistics on the value and volume of the paint and coatings business in the nation, most players estimate that it is worth PKR 37 billion. Pakistan’s market for paints and coatings is only somewhat consolidated, with a few key firms controlling the industry. AkzoNobel, Berger Paints Pakistan Limited, Brighto Paints, Diamond Paints, and Nippon Paint are a few well-known businesses. Throughout the projected period, Pakistan’s paints and coatings market is anticipated to expand at a compound annual growth rate of over 3%. Growing demand for paints and coatings from the architectural coating is a major element driving the market under study. In Pakistan, where residential and commercial construction activities heavily influence demand, architectural/decorative coatings are the most important type used. These enriching paints are either oil-or water-based paints for tasteful purposes for both inside and outside applications.
The construction sector’s contribution to Pakistan’s GDP increased roughly 10.45% in 2019, showing an increase in the country’s construction operations. One hundred ten paint manufacturing facilities are reportedly active in the unorganised sector. A considerable lot of them are likewise not covered under the extract net similarly to the communal area and, therefore, are in a better position to compete in the local market. Although there are no official statistics on the value and volume of the paint and coatings business in the nation, most players estimate that it is worth PKR 37 billion. For BPI, advancing products worldwide was, in every case, part of the arrangement.
Even though they are productive and beneficial locally, the Pakistani market alone isn’t adequately large to help the enormous scope of potential open doors. To boost incomes, I want to think universally and fabricate products according to a worldwide point of view. On the off chance that the focus is predominantly on the neighbourhood market, the merchandise created will provide food to the nearby clients, passing on no space or potential opportunities to check our presentation outside the country. In addition, growing abroad is a savvy step, keeping in view the speed of progress in the taste and patterns of Pakistani customers. Nearby clients show less reliability to the brands and continue to switch among them. Focusing available abroad enhances the client base and diminishes reliance and chance levels.
A coating company may form various strategic alliances, including joint ventures and fully or partially owned subsidiaries. The strategic alliance partners share the risk of achieving a shared goal. The coalition might be framed for a quick experience in another market, decreased marketing costs, admittance to innovation, or more proficient creation. In a joint venture, the firm is possessed by at least two free firms and deals with the advantage of lower speculation and admittance to the skill of the nearby accomplice regarding marketing, creation, obtainment, and information about the legitimate, political and social climate. Pakistan’s paint business delivery gotten-done and halfway items, including shades, sicknesses, plastic emulsion, polish, undercoat, preliminaries, elastic paint, aero plane paint, marine paint, anticorrosive paint, hostile to fouling paint, and so on. The paint business in Pakistan is encountering a yearly development pace of around 6-8 per cent. In 2018, the limit achieved was about 18 million litres of paint, according to an official of the Pakistan Paint Manufacturers Association (PPMA). The advancement in development, assembling, transport and different areas has expanded the interest for paints in Pakistan. The paint business has quite far in its development endeavours. There is a ton of potential to thrive because the interest in painting is expanding.