Interesting facts about the Paint industry
South Africa’s painting and coating industry, and its suppliers, will be rich in opportunity in the year’s to come as the hosting country for Soccer World Cup 2010. This is largely a result of the state’s increased expenditure in construction and infrastructure. Want to find out more interesting facts about the Paint industry, do read further.
- There will be strong growth in all aspects of the painting and coating industry that are related to construction and infrastructure like facilities, stadiums, roads, transport and tourism. The demand for paint for building projects has increased substantially and will continue to increase.
- In 2006 alone, the South African building paints market earned revenues of about R4.4 billion.
- The building paints market is expected to grow 6% to 10% (according to Frost&Sullivan) between 2007 and 2010 as the Soccer World Cup 2010 approaches, and in return lead to intense competition amongst competitors.
- As a result of the severe local competition levels, paint prices are kept stable and are more affordable for consumers; presenting an excellent opportunity for manufacturers to boost market share and revenue.
- The current fierce demand for paint will water down over the long run and market entrants will have to move fast to capitalise on this lucrative opportunity.
- Existing manufacturers will have to solve issues around health and safety concerns and ensure Black Economic Empowerment (BEE) as the government will be a major end-user in the build-up to 2010.
- Local competition is intensifying with small participants entering the market which was previously impossible as the market was predominantly dominated by a couple of big players.
- South African paint customers are increasingly becoming aware that lead in paint is dangerous.
- There has been an increase in the demand for volatile organic compounds (VOC) paints especially in the DIY market.
- Manufacturers expect the demand for VOC will increase and that older manufacturers will have to invest in new production methods to be able to stay an active player in the market.
For a variety of good quality paints and all your painting supplies contact Warrior Paints, a dominant player and supplier in the South African paint market for the last 21 years!
* Information source: Frost & Sullivan at www.southafrica.info