Nigeria and Angola attractive Production Hubs for Paints and Coatings Used in Offshore Oil & Gas Applications


CAPE TOWN, South Africa, Sept. 9, 2015 /PRNewswire/ — Nigeria and Angola present attractive growth and operational expansion opportunities for manufacturers in the offshore oil and gas (O&G) paints and coatings market. With raw material availability and local manufacturing capabilities catalysing production and supply lines, the two countries are rapidly emerging as the African hub for the offshore O&G paints and coatings market.

Local manufacturers are partnering with international brands to offer high-quality, competitively-priced products, finds Frost & Sullivan New analysis from Frost & Sullivan, Analysis of the Offshore Oil & Gas Paints and Coatings Market in Nigeria and Angola, finds that the market earned revenues of $675.1 million in 2014 and estimates this to reach $1,131.4 million in 2019. The applications covered in the study are offshore O&G facilities, dry docks and fabrication yards.
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“The subsidisation of manufacturing makes Nigeria and Angola vital to the production of offshore O&G paints and coatings in Africa, with the goal of African needs being fulfilled by African countries,” said Frost & Sullivan Chemicals and Materials Research Analyst Abdul-Baasit Abdullah. “The drop in crude oil prices has reduced the base costs of paint through a reduction in raw material cost of 8.3%, driving competitive pricing and consumption.”
Construction of local production facilities will be vital in order to ensure cost-competitiveness, as transportation costs of raw materials are steep. Local construction will be further justified once higher import tariffs are implemented by the Nigerian and Angolan governments. As import duties are lower for unfinished than for finished goods, suppliers could consider setting up a local presence in the form of a mixing plant where imported raw materials are blended.
“While in-country manufacturing is a must-have, building a brand reputation will be essential for long-term, sustainable growth,” noted Abdullah. “Partnerships between local and international companies will speed up the development of high-quality products and assist offshore O&G paints and coatings manufacturers in meeting demand in the Nigerian and Angolan markets.”
Analysis of the Offshore Oil & Gas Paints and Coatings Market in Nigeria and Angola is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan’s related studies include: European and North American Plastics Additives Market, Global Impact and Implications of Low Crude Oil Prices, and Global Fuel Additives Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
Analysis of the Offshore Oil & Gas Paints and Coatings Market in Nigeria and Angola
About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies? Contact us: Start the discussion
Samantha James
Corporate Communications – Africa
P: +27 21 680 3574
F: +27 21 680 3296

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