Asian Paints Acquires Causeway Paint

Sri Lanka: Asian Paints Ltd., an India paint manufacturing company, has recently acquired Sri Lankan paint manufacturer, Causeway Paints Lanka Pvt Ltd. (CPLPL), through its indirect subsidiary based in Singapore, Berger International Pvt Ltd (BIPL). BIPL has signed a share purchase agreement with shareholders of CPLPL for the acquisition of 100% stakes in Causeway Paints in cash payment. CPLCL is among the leading player in the coating market in Sri Lanka offering decorative paints as well as automotive refinish paints.

TechSci Research depicts that this acquisition is expected to improve the presence of Asian Paints Ltd in the Asia-Pacific region and also enhance its product portfolio. Growing paints and coatings industry in the Asia-Pacific region would generate augmented demand for pigments across the region.

According to the recently published report by TechSci Research, “Global Pigments Market By Type, By Application, Competition Forecast and Opportunities, 2011 – 2021”, global pigments market size is estimated to cross US$ 34 billion by 2021. Segment-wise, inorganic pigments dominated the overall market in 2015, and this trend is anticipated to continue through 2021. Inorganic pigments are widely used in paints & coatings and plastics to provide various functional properties such as heat stabilization, antistatic, flame retardants, anti-block and UV stabilization. In 2015, Asia-Pacific region dominated the global pigments market, owing to huge presence of paints & coatings, plastics, construction and printing ink industries, coupled with increasing investments across diverse industry verticals. Few of the major companies operating in the global pigments market include BASF, Clariant, Huntsman, Tronox, and Lanxess, among others.