Tax tide swamps local marine paint as foreign brands sail to dominance

Despite being a key player in global maritime trade, with a significant share of its import-export activity conducted by sea, Bangladesh remains almost entirely dependent on foreign brands for marine paint, a critical component in shipbuilding and repair. Domestic manufacturers, though technically capable, are being squeezed out of the market due to high import duties, unequal competition, and policy neglect, industry insiders warn. Marine paint, essential for protecting vessels from saltwater corrosion, algae, barnacles, and rust, accounts for just 3% of Bangladesh’s total paint consumption, yet it is nearly 100% dominated by international brands such as Norway’s Jotun, Denmark’s Hempel, and Japan’s Nippon Paint. Even when used locally, these products often enter the market through well-established local agents or are...