Coatings Sector Warns of Brexit Risks in Major Industry Survey
LONDON - A major survey conducted by the British Coatings Federation (BCF) has revealed some significant concerns of the coatings sector regarding the economic and regulatory landscape post-Brexit. Coatings are an important “enabling” economic sector to other key industries such as automotive and construction, allowing manufacturing to thrive in the UK, so being able to continue to have a competitive UK manufacturing base for paints, coatings and inks is critical to UK industry.
The survey revealed that the majority of coatings companies see Brexit as a risk, rather than an opportunity, with specific concerns surrounding both tariff and non-tariff barriers. Without free trade or the alignment of UK and EU chemical regulations, 10% of companies said they would consider moving their coatings manufacturing business operations to mainland Europe. Serious concerns were also revealed surrounding additional customs bureaucracy and availability of raw materials.