In worrying news for regional paints producers, such as Pachin, local news sources have said that the costs of raw materials have witnessed a sizable increase in recent months.
According to industry sources, pricy petroleum derivatives that are used in the manufacture of raw materials have created a major crisis in the global market.
This has also been driven by the increase in Chinese demand for petroleum products. Combined, these price surges are now impacting Egypt’s paint sector.
An official at the National Paints Company said that the prices of raw materials have increased significantly since January 2021. This has led to some confusion in the industry, resulting in some difficulties in obtaining materials due to high prices.