Coatings for a new era

Bangladesh’s paint industry has undergone a radical transformation over the last two decades, evolving from a seasonal, functional trade into a sophisticated, Tk 6,000-crore industrial pillar. 

As the nation moves toward a USD 500 billion economy, the demand for high-performance coatings is surging. However, while the industry’s trajectory remains upward, it is currently navigating a complex landscape of macroeconomic volatility, shifting consumer aspirations, and a critical drive toward local value addition.

Despite its rapid development, Bangladesh’s paint market is characterised by significant “under-penetration.” While regional peers like India and Sri Lanka record per-capita paint consumption above 3 kg, and ASEAN markets reach up to 8 kg, Bangladesh remains below the 2 kg mark. This gap represents a massive growth runway for manufacturers.

“Bangladesh is not over-consuming paint; rather, it is still under-consuming an essential protective material,” says Md. Mohsin Habib Chowdhury, COO & Director of Berger Paints Bangladesh Limited. He emphasises that as only one-third of the population currently lives in urban areas, the bulk of the country’s housing and infrastructure-led demand is still ahead. “Paint is often seen only as a decorative product, whereas in reality, it safeguards buildings, machinery, and infrastructure from corrosion, erosion, and long-term deterioration.”

This shift in perspective, from aesthetics to protection, is driving the industry’s expansion into specialised segments like marine coatings, industrial powder coatings, and textile chemicals.

Navigating Macroeconomic Headwinds

The industry’s growth, however, has not been without friction. The sector is currently grappling with high import dependence, exchange-rate volatility, and rising raw material costs. Paint manufacturing relies heavily on imported resins, pigments, and additives, making it vulnerable to global supply chain disruptions.

The pressure is further compounded by recent policy changes, including the increase of supplementary duty on locally manufactured paints from 5 per cent to 10 per cent. Industry leaders argue that such measures treat paint as a luxury rather than a necessity for asset preservation.

To mitigate these risks, players are doubling down on backward linkage. Shayaan Seraj, Group Director of Aqua Paints, notes that global volatility in oil and freight prices has made local manufacturing essential. “Aqua Paints mitigates this through backward linkage—manufacturing resins and emulsions locally, which improves supply reliability and margin control,” Seraj explains. He adds that for the industry to truly mature, policy support must favor raw material imports over semi-finished products to encourage true local value addition and technical self-reliance.

The Shift to Solution-Centric Consumption

One of the most notable trends in recent years is the change in how Bangladeshis buy paint. Exposure to global design trends through social media and rising income levels have turned painting into a lifestyle decision. Consumers are moving away from dealing with separate parties for products and labor, seeking instead a seamless one-stop experience.

Asian Paints, the second-largest player in the market, has seen this shift firsthand. KSM Minhaj, Country Director of Asian Paints Bangladesh, observes that paint is now viewed as an “emotional investment.” According to Minhaj, “Consumers are no longer just buying a flat; they want to create a space that reflects their identity, comfort, and taste. This shift has directly changed buyer expectations, moving from basic decorative paints to advanced, functional coatings.”

To meet these needs, Berger has introduced “Experience Zones” and interior design studios, while Asian Paints leverages a global research division of over 200 scientists to introduce innovations like “Nonstick Paint” and advanced waterproofing solutions (WPCC). This service-led model is reflected in Asian Paints’ high Net Promoter Score (NPS) of 93%, indicating that brand trust is now driven by the quality of the end-to-end service rather than just the product in the tin.

Sustainability and the Digital Frontier

As the industry looks toward the next five years, sustainability and technology are becoming the new benchmarks of maturity. The market is gradually transitioning toward eco-friendly, lead-free, and low-VOC (Volatile Organic Compound) products. Berger, which pioneered lead-free paints in 2012, continues to innovate with anti-pollution coatings like EcoCoat.

Innovation is also taking a digital turn. Aqua Paints has introduced the AI-powered ColorSense platform to simplify color selection for consumers. “We focus on anti-corrosive steel coatings, flexible elastomeric roofing for waterproofing, and high-performance binders,” says Shayaan Seraj, highlighting how advanced chemistry is being blended with digital tools to improve user experience.

Ultimately, a mature industry will be judged by its ecosystem. This includes standardised application methods, a professionalised workforce of skilled painters, and a robust local supply chain. As Minhaj concludes, success in this evolving landscape depends on delivering solutions that enhance visual appeal while ensuring long-term durability and surface protection. For Bangladesh’s paint giants, the mission has moved beyond selling color into building a resilient, sustainable future for the nation’s physical assets.