Nippon Paint Malaysia (Nippon Paint), a leading global paint and coatings manufacturer announces the expansion of its Total Coating & Construction Solutions (TCCS) with the aim to solidify market positioning, in line with its 2023 target.
Nippon Paint Malaysia General Manager Tay Sze Tuck (pic) said that the market outlook for 2023 remains challenging and innovation is at the core of Nippon Paint’s business expansion projection. Under TCCS, Nippon Paint is looking into entering various different markets including oil and gas industry, infrastructure, power and original equipment manufacturer.
Through Nippon Paint’s ongoing collaboration and market relations with professional builders, they aim to widen their market standpoint, especially in the affordable housing market through their TCCS initiative.
Their target is to assist in industrialised building system construction with TCCS which will reduce project costs, increase quality, and shorten the time for building projects.
Through its coating segment, Nippon Paint has been active in supplying project buildings for affordable housing market under the Projek Perumahan Rakyat (PPR) such as PPR Kiansom, Inanam, Kota Kinabalu Sabah; PPR Kempas Permai, PPR Sri Stulang, Flat Larkin, and Rumah Iskandar Malaysia in Johor Bharu.
“With TCCS in place to better position the capability of Nippon Paint as a one-stop solution, we foresee that Nippon Paint will be able to attain higher market share and increase its revenue by double digits, and solidify our position despite market shocks,” said Tay.
Besides that, TCCS has also accelerated its initiative in industrial development through industrial flooring solutions as it enters the market for industrial requirements such as food grade and electrostatic discharge flooring that is a requirement by the government for food and beverages plants, semiconductor and other industrial environments.
“As for our paints, through continuous research and development, we have improved our special effect paints with lesser layers, faster application and which will cost lesser than before,” said Tay.
In terms of revenue, Business to Consumer takes the lead by dominating a majority share of it. However, with various initiatives taken especially through TCCS and embarking into new business segments, Nippon Paint aims to increase Business to Business contribution to total revenue moving forward.
As a backgrounder, Nippon Paint has embarked onto the journey of TCCS as its core business model with the acquisition of CMI Construction Material Industry and CMI Marketing in February 2022.
In line with the acquisition, Nippon Paint is ascertained that this would further strengthen Nippon Paint’s position as a total coating and construction solutions provider with compatible system solutions for every quality and beautiful finishing from bare to finish – from the floor up to the roof and everything in between.
The acquisition of a majority stake in Vital Technical, industrial improvement solutions, and the ownership of Selleys, a home do-it-yourself product, has also enabled Nippon Paint to fortify its financial position and expand product line-ups through innovative engineering while meeting the needs of its customers.
With this integration, Nippon Paint now offers the first and only total coating and construction solutions compatible system for the building and construction industry in the region including a range of innovative and compatible solutions that cater to different needs, comprises of drymix solutions, sealant, adhesive, filler solutions, waterproofing solutions, flooring solutions, protective coatings, and architectural coatings.
The commitment to innovation and compatibility ensures that the company continually pushes its boundaries and delivers exceptional results across a wide range of projects. Nippon Paint’s TCCS business expansion represents a significant step forward in the company’s commitment to providing comprehensive, effective, and efficient solutions to customers.
Nippon Paint believes with the partnerships, they are confident to achieve their objectives given their expertise in the technical field. The company also has a robust plan to boost their production capacity and expand their network of distribution channels to cater to the increasing regional demand for their products.
With this strategic TCCS expansion, in the coming years to come, Nippon Paint is poised to solidify its position as a leader in the paint and coatings industry, propelling the company towards even greater success while providing a more substantial offering to customers across various industries such as people’s housing and on-going infrastructure works by the government. Nippon Paint believes that the expansion will push its growth trajectory upward and become a market leader in the coating and construction industry in the region.
