Assovernici, the association representing Italian manufacturers of paints for construction and industry, reports serious difficulties in the supply of many key raw materials for the production of coatings for the building and industrial sectors.
“Coating manufacturers have been facing serious raw material supply problems for several weeks, in a context already marked by the difficulties linked to the COVID-19 pandemic, which has been going on for a year now,” states Assovernici President Massimiliano Bianchi.
The situation is affecting Italy, but also the European and global markets. Supply difficulties are caused by a very complex set of factors, including plant maintenance issues and technical incidents, also due to adverse weather conditions, which have imposed temporary cessation of production at certain sites in Europe, Asia, and North America; logistical difficulties caused by the increased use of international commercial transport due to COVID-19; and China’s rapid recovery, which is also catalysing demand for essential raw materials for the coating industry.
Supply difficulties are concerning chemical formulations that are essential for paint production, such as numerous types of petrochemicals, e.g. resins and solvents, but also pigments, for which there is a clear increase in demand from a variety of industries globally. It is not possible to predict how long the shortage will last, nor is there any sign of stabilisation in the commodities market.
“At Assovernici, we are concerned about the situation that has arisen: after the period of stagnation, in such an important phase for the upturn of the Italian economy and at a time when the government has initiated various incentives for the construction and restoration market, raw material scarcity is a factor hampering recovery,” concludes Massimiliano Bianchi.
Despite the serious supply difficulties, the companies represented by Assovernici are deploying all their resources and they will do their utmost to secure deliveries and not compromise the business continuity of their customers.