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Thursday, 19 September 2019
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Markets & companies, Coatings market

Paint & coatings market in Kenya and Tanzania to grow

Tuesday, 13 November 2012

According to Frost & Sullivan the paints and coatings markets in Kenya and Tanzania will reach revenues of USD 188.5 million by 2018.

Because of rapid urbanization, the domestic construction industries in Kenya and Tanzania will soon begin competing in the global arena, creating significant demand for better quality decorative paints. Source: Antonio Duarte -Fotolia.com    
Because of rapid urbanization, the domestic construction industries in Kenya and Tanzania will soon begin competing in the global arena, creating s...

The mushrooming of housing complexes, office buildings and shopping malls in Kenya and Tanzania has escalated the need for decorative paint and coatings in these countries. Because of rapid urbanization, the domestic construction industry will soon begin competing in the global arena, creating significant demand for better quality decorative paints.

New analysis from Frost & Sullivan, "Supply and Demand Analysis of the Decorative Paint and Coatings Market in Kenya and Tanzania”, finds that the market earned revenues of over USD 123.3 million in 2011 and estimates this to reach USD 188.5 million by 2018. As part of the plan to make Kenya a middle-income country by 2030, the Government approved the National Construction Authority Bill to initiate new construction projects and improve the quality of existing infrastructure. Meanwhile, the Tanzanian government's strategic plan over 2012-2017 includes the expansion of housing units.

"Such proactive government policies will encourage middle-income housing and in turn, the adoption of higher quality paints that are easy to apply and maintain," said Frost & Sullivan's Chemicals Materials & Food Research Analyst, Bhavisha Jaga. Economic growth in neighbouring countries will further compel manufacturers with export market share to increase production capacity. However, fluctuations in the exchange rate cause instability in the Kenyan and Tanzanian paint and coatings market. Exchange rate volatility assumes higher significance in these markets since 60 to 90 % of the raw materials are imported from the European Union and Asia.

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