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|The competitive paint market in Vietnam forces companies to innovate consistently|
Thanks to years of rapid economic growth, Vietnam’s real estate market is developing in a dynamic and attractive way. Statistics from Global Research and Data Services (GRDS), a Finnish market research organisation, claim that sales of paints and coatings in Vietnam hit $564 million in value in 2016, an increase from just under $530 million in 2015, equalling a growth of 6.7 per cent on-year.
The market is expected to develop even stronger in the next five years on account of the rising demand for paints and coatings from the country’s construction and manufacturing sectors.
Akihiro Kishi, principal analyst at the Tokyo office of IHS Markit, a London-based research firm, has predicted a continuous growth in demand for paints and coatings over the next few years. The major paint players in Vietnam, especially foreign-invested firms, will continue to play extensive roles in the country.
Operating amid fierce competition, shaping a successful brand indicates only the initial success of paints and coatings manufacturers. The largest challenge facing companies in the sector is how to maintain the top position and simultaneously increase their market shares.
AkzoNobel, the Dutch manufacturing giant, is aware that innovation, in combination with the continued advancement of science and technology towards new frontiers, are prerequisites to ensuring its success. Thus, it has been combining its global expertise with local understanding and modern technology to create tailor-made products for the Vietnamese market.
Recently, the firm unveiled new upgrades of its Dulux products, making use of innovative technologies to help deliver the best-performing paint for a house from the inside out. These include Dulux Aquatech Flex Waterproofing, Dulux Ambiance 5in1 Pearl Glow, Dulux Ambiance 5in1 Diamond Glow, Dulux Inspire Interior Sheen, and Hammerite Direct To Rust Metal Paint.
“At AkzoNobel, we always consider the consumer our priority, and meeting consumers’ needs is the core of our business,” explained Pamela Phua, general director of AkzoNobel Paints Vietnam. “We have thoroughly researched the needs of consumers with the aim of offering effective paint products that are not only optimised for Vietnam’s climate, but also perfectly meet up with consumers’ expectations.”
“Therefore, for the next chapter of 2018, we proudly present new products to protect and beautify any home across the country,” Phua continued. “Dulux Aquatech Flex Waterproofing, Dulux Ambiance 5in1, and Dulux Inspire Interior Sheen will serve your needs for the perfect coverage of your home. AkzoNobel continues to deliver our commitment to continuously develop innovative products, using our global expertise and local understanding to delight consumers worldwide.”
Specifically designed with outstanding quality and unique features, Dulux products are the results of global expertise and consumer insights from AkzoNobel. These features are easy utilisation, a unique effect, diversified colours, high durability, high protection against weather conditions, and environmentally friendly paints for specialised purposes.
With an emphasis on providing consumers with more choices to build their dream living space, AkzoNobel strives to keep its products up to date with technological
advances. The firm recognises that strategies for the adoption of new technologies directly impact the performance of companies involved in all aspects of the paints and coatings value chain.
Making use of comprehensive solutions, AkzoNobel’s products have conquered difficult markets, including the harsh weather conditions of Vietnam. The company has also contributed to supporting Vietnam’s real estate projects and promoting green architectural works across the country.
Consumer satisfaction is proved by AkzoNobel’s achievements. The two Dulux and Maxilite paint lines are always considered the top of the product range in which AkzoNobel is competing.
Dulux is one of the few Vietnamese brands to be certified with a “Green Label” by the Singapore Environment Council, a seal of endorsement of its environmentally friendly claims whose purpose is to prevent the spread of green-washing. That is why Green Label-certified products like Dulux have earned consumers’ loyalty for their sustainability.