BCF Survey Reports Challenges to UK Coatings Industry
COVENTRY, UK — A recent survey of British Coatings Federation (BCF) members demonstrates how Brexit has negatively impacted the coatings sector in the form of new customs red tape and higher costs since Jan. 1. The survey reported higher shipping costs, increased costs of imported raw materials, and new administration costs to complete customs paperwork, with 30% of companies estimating increases in total operating costs of 3-10%.
As a result, significant risks to the competitiveness of BCF members’ UK production and exports, despite the industry investing in preparing for Brexit (86%) and being experienced exporters beyond the EU (75% of companies). The survey indicates that the new Free Trade Agreement (FTA) will have a significant negative impact on UK exports of paints, coatings and printing inks.