Surge in Furniture Purchases Spurs Wood Coatings Demand in Kenya
Posted on : Friday, 7th June 2024
This year's Woodtech Africa, an international exhibition for the wood and woodworking industries, will be held in Kenya again. This occurs at a time when the nation is seeing a spike in the demand for high-quality furniture items due to population growth, urbanization, and rising middle-class and lower-class purchasing power.
The November 2024 event in Nairobi brings together manufacturers and suppliers of adhesives, veneers, and coatings. Additionally, it coincides with the approval of plans to establish the nation's first furniture industry, creating additional commercial potential for domestic and foreign suppliers and makers of wood treatments.
Kenya is the largest furniture market in Eastern Africa, with annual furniture production estimated at US$452 million, and an export market share of US$22 million.
A total of US$1.2 billion worth of furniture is consumed annually in Eastern Africa, with 22% of the goods coming from imports.
A report from Woodtech Africa's organizers states that Kenya's furniture business is "well positioned to expand its furniture sales domestically and regionally to capitalize on the growing local and regional markets in East Africa, other parts of the continent, and beyond."
Both domestic and foreign investors are eager to increase the output of wood-derived products as well as the production of related chemical solutions like paints, adhesives, and laminates among others, driven by the middle class's demand for upholstered, office, bedroom, and wood-seat furniture.
For instance, the state-sponsored County Aggregation and Industrial Park project has the approval of the Nairobi City County administration, which oversees Nairobi, the nation's capital. This plan aims to establish Kenya's first furniture factory.
As a component of the nation's Vision 2030, the project aims to boost investments and production across a range of economic sectors in order to raise foreign exchange profits, generate income, and create jobs.
Nairobi County executive member Maureen Njeri recently told reporters in Nairobi, "As a city, we will be undertaking a Wood Furniture Aggregation and Industrial Park and we are in the process of finalizing the project designs."
Currently, a variety of wood coating brands from businesses like Crown Paints, Basco Paints, Kansai Plascon, Duracoat, Sadolin Paints, and Solai Paints meet the demand for wood coatings to sate the demand for interior design and decoration, particularly in residential spaces, hotels, and corporate offices.
The firm released a statement saying, "JAT Paints Africa's establishment in Kenya showcases JAT Holdings PLC's commitment to expanding its footprint in the East African region and emerging as a leader in wood coatings in Africa."
Through the cooperation, JAT Holdings is able to produce and market Sayerlack Wood Coatings and other JAT goods in Kenya and other East African markets under the Sayerlack Wood Coatings brand. JAT's flagship brand is Sayerlack, an Italian trademark owned by Sherwin Williams, the world's largest manufacturer of wood treatments.
Wood coating suppliers and manufacturers have a great chance to boost their bottom lines by expanding their domestic market share and entering other potential African markets like Ethiopia, Tanzania, Uganda, and Rwanda, as the Kenyan government projects a 10% annual growth in furniture demand.
