Shifting from colour to solutions

ASM Faisal, 
Business Head, Rainbow Paints

As demand moves from individual cans of paint to full-service expertise, customers want one provider to manage waterproofing, damp-proofing, and painting. Our Insta Painting Solution bridges this gap, offering a seamless, single-source solution for any project.

As Bangladesh’s paint industry continues to expand alongside the country’s construction and housing sectors, consumer expectations are evolving beyond colour and aesthetics. Homeowners are increasingly prioritising durability, weather protection, damp resistance and complete painting solutions. ASM Faisal, Business Head of Rainbow Paints, speaks with The Daily Star (TDS) about changing customer preferences, industry challenges, localisation efforts and the future of Bangladesh’s paint market.

The Daily Star (TDS): Over the past few years, what is the biggest shift you have observed in customer behaviour within Bangladesh’s paint market?

ASM Faisal (ASMF): Previously, customers primarily focused on colour when purchasing paint. Today, that has changed significantly. Consumers are now looking for solutions alongside colour. They are paying much greater attention to product quality and durability. One of the biggest concerns for homeowners is dampness. Damp walls have become a major issue across Bangladesh. As a result, customers increasingly want products that can solve these problems rather than simply improve appearance.

Image

TDS: How has Rainbow Paints responded to this change?

ASMF: We have increased our focus on specialised products. For exterior applications, we have developed products that provide more than ten years of weather resistance. For interior applications, we have introduced damp-proof solutions designed to tackle moisture-related issues. At the same time, we continue investing in innovation and product development by closely monitoring the challenges customers face and designing products that address those needs.

TDS: How would you describe Bangladesh’s paint industry in terms of market size and future potential?

ASMF: Bangladesh’s paint industry has strong growth potential because the country itself is developing rapidly. The annual market size is currently around Tk 6,500 crore. Historically, the industry has maintained a compound annual growth rate of approximately 10 to 12 per cent. Although the sector experienced negative growth last year, we expect recovery from this year onwards. By 2030, we believe the market could reach around Tk 10,000 crore.

TDS: What are the biggest challenges facing paint manufacturers today?

ASMF: Inflation and import dependency are currently among the most significant challenges. Paint manufacturing depends heavily on chemical raw materials, and Bangladesh’s backward linkage industries are not yet sufficiently developed. As a result, we remain highly dependent on imported raw materials. Currency depreciation and global inflation have had a particularly strong impact on solvent-based paints.

We are trying to remain competitive through supply chain efficiency, operational excellence and innovation. However, unless Bangladesh can strengthen local production of key raw materials, the industry may face even greater challenges in the future. We have already begun producing certain materials such as calcium carbonate and are working on emulsions, alkyd resins and other backward integration projects. However, more industry-wide investment is necessary.

TDS: How are you managing rising costs while remaining customer-focused?

ASMF: We have tried to absorb as much of the cost pressure as possible. While some raw material costs have increased by between 20 and 100 per cent, we have not transferred those increases directly to customers. Through operational efficiencies and supply chain improvements, we have limited customer price increases to affordable range.

TDS: How do your products cater to different customer segments?

ASMF: Affordability remains a key consideration. For premium customers, we offer our Feather Silk range. In the mid-range segment, we have Acroplast, while SPD Distemper serves the economy segment. We are also introducing premium effects such as marble finishes, fluorescent effects and other decorative coatings targeted at the premium segment.

TDS: What innovations is Rainbow Paints investing in today?

ASMF: We are focusing heavily on sustainable paint and coatings, where we see substantial growth opportunities. Another major focus area is industrial coatings. Bangladesh remains heavily dependent on imported paint products. We want to localise this segment and become a leading manufacturer.

TDS: Beyond selling paint, what value-added services are becoming increasingly important?

ASMF: Customers now want complete solutions rather than individual products. They want one provider to handle waterproofing, damp-proofing, floor treatment, wall treatment and painting services. To address this need, we have introduced Insta Painting Solution, which provides customers with a complete painting service. Through a single phone call, customers can receive professional painting support without the hassle of managing the entire process themselves.

TDS: What is your long-term vision for Rainbow Paints?

ASMF: Rainbow Paints is a Bangladeshi company, and we believe local brands should play a leading role in the industry. Over the next five to seven years, our goal is to become one of the country’s leading paint brands by offering high-quality products at affordable prices while providing complete customer solutions.

Interview conducted by Farhan Musfique