Nippon Paint eyes 2nd position in Bangladesh market

Nippon Paint Bangladesh Pvt. Limited – a Japan-based coating company – aspires to secure the second position in the local market within the next three years.

Yaw Seng Heng, Group Managing Director at Nippon Paint Malaysia Group, shared his ambition in an interview with The Business Standard on 23 July.

He recently visited Bangladesh with other top management team for inauguration of their newly established Finished Goods Warehouse in Manikganj Plant.   He said, "We are moving forward with a three-year plan to increase our business in the Bangladesh market. This time, all new products will be launched to cater different segments & supply according to market demand. Investments will also be made in factory expansion, new sales office opening if necessary to achieve the milestone."

Currently, the company is in the fourth position in the paint market of Bangladesh.

The company was founded in 1881 by Jujiro Moteki under the name Komyosha in Japan. In 1898, the company was incorporated and renamed Nippon Paint.

Incorporated in Bangladesh in 2011 as a Greenfield company, it set up its own factory in Manikganj and started commercial operation in 2014.

It is No. 1 in Asia in the paint market, where its position is number 4 worldwide.

The company's next target is to secure the leading position in the Bangladesh market.  We are producing all water based Decorative product, Enamel for both house & marine, Protective coating & Coil coating for Industries, also Motorcycle paint for national & international motorcycle company. In the future we will add all new products to cater all segments & provide total painting solutions, as well new category products that will benefit our business partners to earn more money. 

Yaw Seng Heng said, Bangladesh has a bright future in terms of economic size. The business environment of this country is also quite friendly. Besides, the country has a large number of consumers. "And we want to reach every consumer."

"No one will leave us a place easily. We have 141 years of experience in the paint business. We are top in Asia and have strong footprint in the world by providing innovative products and services to clients," he added.

He also said their total commitment to research and development is the key to their success in innovation. Nippon Paint has paint for all surfaces & world best technology for paint industry. "With best products and customer service, we will be at the top position in the Bangladeshi market as well."

At present, Nippon Paint has eight depots all over Bangladesh and more than 2000 dealers across the country with third largest tinting Machine in the Market.

Currently, the company is producing paints for the real estate, industries, marine and planning to launch others segments very soon to tap the growing segments.

Yaw Seng Heng said, "We are planning to produce paints for vehicles for the first time in Bangladesh. The Automobile coating was previously fully dependent on imports in the country. And this market will play a big role in strengthening our position in the country's market."

"We priorities customer health protection and environmental impact in paint production. Our Green Choice series formulated with the wellness of the environment and health in mind. Our Green Choice Series comprises of water-based, no added lead and mercury, and near-zero Volatile Organic Compounds (VOC) coatings," he added.