Di erent brands of paints apparent at a retail aperture in the capital, although adopted companies boss the acrylic market, estimated to be Tk 300cr per annum Mehedi Hasan/ Dhaka Tribune
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Owners and industrialists complex in the acrylic business said advance in the absolute acreage area played a basic role in accretion the acrylic bazaar of the bounded economy
The astronomic bounded acrylic bazaar is bedeviled by adopted brands because bounded firms abort to accretion bazaar allotment due to abridgement of abstruse abutment and admission to affordable financing, industry bodies said.
With the advance in the abridgement that has resulted in accelerated urbanization and a billow in spending capacity, the average chic to the affluent and cool rich, generally opt for aerial affection acrylic abstracts of assorted adopted companies.
Besides the acceptable needs for autogenous and exoteric paints for homes and offices, the acrylic bazaar has broadcast its cast to the automated and bolt sectors in contempo years.
A contempo abstraction of LankaBangla Investment Ltd reveals that aloft 80% of the country’s acrylic bazaar is in the easily of adopted brands. They accommodate Berger, Asian, Roxy, Pailac, Aqua, and Elite.
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Berger abandoned holds 52% bazaar share, followed by Asian Paints 18%, Roxy 7%, Elite 7%, Pailac 5%, and Aqua paints 2%, the abstraction elaborated.
Local acrylic companies, now about 30, accept beneath than 20% bazaar share, the abstraction said.
The Pran-RFL accumulation has afresh launched paints in the bazaar beneath the cast name of Rainbow Paints. Added bounded brands accommodate RAK, Uzala, Nippon, and Jotun Paints.
According to Bangladesh Acrylic Manufacturers’ Association (BPMA) estimates, the annual calm acrylic bazaar is about Tk3,000 crore. The BPMA said bounded brands cannot attempt with adopted brands.
“Local acrylic companies abridgement analysis & development accessories to aftermath acceptable affection acrylic products. Besides, abridgement of bargain basic allotment additionally hinders affairs for bounded acrylic companies,” BPMA accepted secretary Md. Shamsuzzaman told the Dhaka Tribune.
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He said abounding consumers additionally anticipate the affection of adopted paints is bigger than that of bounded paints, which is not consistently accurate as both bounded and adopted firms aftermath acrylic from the aforementioned raw materials.
Owners and industrialists complex in the acrylic business said advance in the absolute acreage area played a basic role in accretion the acrylic bazaar of the bounded economy. Further, home renovation, bargain home loans, and the amplification of industries are added affidavit for the booming acrylic industry.
They said about four to bristles bounded acrylic companies bankrupt bottomward in the aftermost few years due to banking constraints, appropriately declining to attempt with adopted brands.
BPMA acclimation secretary Asaduzzaman Shahid Khan said, “The use of acrylic has accepted to be advantageous to collapsed and home owners as it increases the lifespan of buildings.
“Industrialists are now acquainted that paints anticipate blight from damaging adamant bars. With the clip of basement development, the use of automated paints is additionally accretion day by day in both average and ample industries,” Shahid Khan said.
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The BPMA leaders said the government should put some array of restrictions on the access of adopted companies in the bounded acrylic market.
Local owners of acrylic companies said the area now employs about 20,000 people. They said, after action and budgetary abutment from the government, the bounded acrylic industry would perish, let abandoned grow.
The astronomic appeal for paints acclimated in ships, clandestine cars, and furniture, is now absolutely met by adopted brands, industry experts said.
Key articles of acrylic companies accommodate artificial emulsion, distemper, alien covering (weather proof) and constructed enamel.
Managing administrator of Berger Paints Bangladesh, Rupali Chowdhury, told the Dhaka Tribune, “Berger is the arch acrylic maker in Bangladesh. Maintaining affection has helped the aggregation to authority bazaar leadership. It has two assembly units anniversary in Dhaka and Chittagong, and has 11 home adornment outlets in the country. It employs 1,000 bodies and has a civic administration arrangement of added than 3,000 dealers.”
Berger Paints Bangladesh, an ‘A’ class company, listed with the banal exchanges in 2006. The company’s sponsor-directors authority 95% shares, institutions 1.85%, adopted shareholders 1.55%, and the accepted accessible 1.60%, as of September 30, 2018.
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