by Shem Oirere
Africa Correspondent
Two new reports have painted a glossy picture of the future of Africa’s wood coatings market as the continent races
towards achieving a combined coatings market of 1.7 million tons by 2018 on the back
of an anticipated GPD growth of more than
4. 5 percent.
Consultancy firm PricewaterhouseCoopers
(PWC) and market analyst Future Market
Insights (FMI), have in separate reports indicated how Africa is set to enjoy growth in the
residential property market and how the increased production and supply of wood protection products will continue to be driven by the
residential end-user market.
PWC said increasing urban population will
create huge demand for residential property
across Africa fuelling the rise in demand for
wood protection products particularly paints
and stains as more of these properties crave
for modern furniture and cabinets and better
fences, siding, floors and decks.
“The growing urban populations will in-
crease demand for affordable housing, while
a burgeoning middle-class will drive demand
for more mid-range properties,” the consul-
tancy firm said in its report titled “Real Estate:
Building the future of Africa.”
PWC said large cities in the continent such
as Nairobi, Kinshasa and Dar es Salaam, “are
expected to see population growth of over 70
percent by 2025.”
The report said Nigeria alone will add 7. 6 mil-
lion middle-class households, followed by Ghana
with 1.6 million while Angola and Sudan will add
one million middle-class households each.
“The burgeoning middle-class urban populations in Africa will need far more housing,”
Residential Property Market
to Drive Africa’s Wood Coatings Growth
Consultancy firm
PricewaterhouseCoopers
and market analyst
Future Market Insights
have in separate reports
indicated Africa is set
to enjoy growth in the
residential property
market and how the
increased production
and supply of wood
protection products will
continue to be driven by
the end-user.
