SMART EXPORT SERIES: PAINTS AND COATINGS EXPORT JOURNEY IN AUSTRALIA
As the Australian construction industry continues to rapidly grow, a key area of interest is the paints and coatings sector. In 2021, the Australian paint and coatings market was worth over $3.4 billion and the industry revenue is projected to increase at an annualised rate of 1.7% from 2023-2028. With almost half of the paint and coating usage dedicated to the architecture of residential and commercial infrastructures, this industry plays a vital role in Australia’s economic landscape.
In this article, we will delve deeper into the world of paints and coatings, exploring the market trends, growth drivers, and key challenges faced by the manufacturers. If you are a manufacturer of paints and coatings, or a supplier interested in exporting these products to Australia, we can provide paints and coatings actionable insights to help you succeed in Australia.
Sustainability is here to stay
The Australian paints and coatings manufacturing industry is expected to undergo significant changes in the next five years due to ongoing structural changes in the national economy and increasing emphasis on sustainability. The demand for environmentally friendly paints and coatings products is a key driver of growth in the Australian market. Manufacturers are introducing innovative products such as eco-friendly paints and smart coatings to meet the evolving needs of conscious customers, and comply with strict environmental regulations. Digital technologies, including green nanotechnology, are also driving growth, which supports many value-added offerings.
Keep an eye out for regulations
The overseas paints and coatings manufacturers and suppliers may find challenges in navigating the complex regulatory environment in Australia. For example, the National Pollutant Inventory (NPI) program requires paint and coatings manufacturers to report their emissions data to the Australian government, including data about volatile organic compounds (VOCs) and hazardous air pollutants.
Another challenge that paints and coatings manufacturers and suppliers may encounter is the high level of competition in the Australian market. There are many established local manufacturers and suppliers, as well as international players in Australia.
Technology and transparency is key!
Exporters of paints and coatings have the opportunity to capitalise on the sustainability trend by differentiating offerings, such as unique product features, competitive pricing and exceptional customer service.
To succeed in this market, exporters must invest in the development of innovative paints and coatings products that are eco-friendly with high performance. One way to stay ahead in this market is to focus on research and development, investing in the latest technologies in the field of paints and coatings. Essentially, paints and coatings manufacturers must equip themselves with in-depth market research and knowledge to prevent legal fines.
A local partner saves you time and money
Seeking out local partners with market expertise is essential to efficiently explore opportunities and navigate challenges in the Australian market. Overcoming those challenges alone may be costly and time inefficient for both novice exporters and experienced manufacturers or distributors.
With over 30 years of experience in business development and export to and from Australia, Smart Mango can guide your paint business through the export journey with ease and confidence!
Call +61 (0) 2 7903 0543 or email email@example.com and meet our export experts for a free export consultation today.