UAE Decorative Paints Market is predicted to
proliferate during the forecast period of 2024-2028 owing to expansion in the
building & construction industries, the growing number of smart cities,
growing tourism, and hospitality sector among others.
Enhancing a surface's aesthetic attractiveness is the
goal of decorative paints. They are frequently used both indoors and outside,
for things including furniture, walls, ceilings, and other decorative
components. Decorative paints are a flexible tool that both homeowners and
interior designers can use to give their spaces a distinctive look and feel
since they are offered in a broad variety of colors, textures, and finishes.
Expansion in Building and Construction Industry
The demand for new residential and commercial
properties has surged in UAE due to the country's fast urbanization and
expanding middle class. The decorative paints market is being driven by the
increase in building activities, which has resulted in a requirement for
paints and coatings for both interior and outdoor
applications. Consumers are growing more aware of the aesthetic
value of their residences and workplaces. The use of various colors and finishes
for indoor and external walls is becoming more popular, which has raised the
need for decorative paints. This trend has been supported by the growing
disposable incomes of consumers, changing lifestyles, and exposure to design
trends. Additionally, the UAE government invested billions of dollars in the
infrastructure sector. for instance, in UAE, the Ministry of Energy &
Infrastructure is set to invest around USD 3.4 billion in development projects
by 2023 and the UAE government intends to invest approximately USD 23 billion
in infrastructure projects across the nation. Additionally, the upcoming mega
project including Abu Dhabi Midfield Terminal, Etihad Rail passenger train,
Burj Binghatti, Abu Dhabi Midfield Terminal, SeaWorld Abu Dhabi, Dubai Wasl
Tower, Baccarat Hotel and Residences Dubai among others across the nation
enhance the demand for decorative paint in the upcoming years. Therefore, the
market for decorative paints is expected to grow in the UAE during the forecast
period.
Growing Number of Smart Cities
The "UAE Vision 2021" and city-level
policies like the "Dubai 2040 Urban Master Plan" and the "Abu
Dhabi Economic Vision 2030" that support the establishment of sustainable
infrastructure are directly aligned with the UAE's objectives to build a number
of smart, sustainable cities around the country. The country defines
"smart cities" as environmentally responsible urban development
initiatives that are technically connected via the Internet of Things and
contemporary ICT (Information & Communication Technology) (IoT). One of the
biggest initiatives the UAE has made to develop smart cities is the Zayed Smart
City Project in Abu Dhabi. Other significant initiatives include the
"Masdar City Project" in Abu Dhabi and "The Sustainable City
Project" in Dubai. Dubai also built 30,000 homes in Desert Road City for
foreigners and Emiratis intending to reduce energy use. To reduce its carbon
impact by 30% by 2030, the UAE. The planned smart, sustainable cities around
the nation are now being constructed following green construction standards.
Therefore, the UAE's Decorative Paints industry is anticipated to benefit
greatly from such elevated goals.
Booming Tourism and Hospitality Sector
The construction of Dubai's infrastructure has been
funded in large part by the government, which has led to a boom in the city's
tourist and hospitality sectors. Such investments have been made with the dual
objectives of drawing visitors and preparing the country for the global event
Dubai Expo 2020, which was finished in March 2022, anticipating foreign
investments in the country. Policies like the "Dubai Tourism Strategy
2025" and the "Dubai 2040 Urban Master Plan" aim to increase the
number of tourists who visit Dubai and to improve the nation's tourism and
hospitality infrastructure by 134%, boosting the tourism and hospitality
industry in the UAE. The World Travel and Tourism Council predicts that in
2027, the travel and tourism sector in the UAE would generate revenues of
approximately 72 billion USD and contribute 12.7% to GDP. Thus, it is
anticipated that the growth of the UAE Decorative Paints market is expected to
be driven by a developing tourist and hospitality industry in the upcoming
years.
Additionally, Sharjah is being significantly impacted
by the growth of Industrial Zones, New Tourism Projects, Retail Infrastructure,
and the increasing Residential Sector in the region. The Moon Retreat in
Mleiha, Al Suhub Rest House in Khorfakkan, Kalba Waterfront, and other key
tourism-related projects have been declared by the Sharjah Commerce and Tourism
Development Authority (SCTDA). Therefore, the UAE Decorative Paints market is
expected to boost in the upcoming years.
Urbanization and Nuclearization of Families
New houses, workplaces, retail centers, hotels, and
other infrastructure are all in greater demand as a result of urbanization's
rise and the nuclearization of families. For safety, aesthetics, and upkeep,
these areas need painting and coating. Furthermore, as people's lifestyles and
aspirations change due to urbanization, they are increasingly seeking out
aesthetically pleasing and visually appealing living and working spaces. As a
result, there is an increasing need for decorative paints that provide a
variety of hues, textures, and finishes to improve major cities’ appearance.
For instance, the current population of the UAE in 2023 is 9,516,871, which is
a 0.8% increase as compared to 2022. In 2022, the population of the UAE was
9,441,129, which has a 0.81% increase from 2021. Also, the country’s population
in 2021 was 9,365,145, & a 0.84% increase from 2020. As a result, the
decorative paint market is expected to expand in the near future as
urbanization increases the demand for housing. Moreover, the demand for
decorative paints is also increasing due to an increase in the number of
households, owing to the nuclearization of families.
Challenges: Intensive Dependence on Raw Materials
The production of decorative paint products is
strongly reliant on raw resources. The availability, quality, and cost of raw
materials, which are the essential elements utilized in the production of
paints and coatings, have a considerable influence on the operations and
profitability of the decorative paints market. The capacity for producing
paints and coatings depends on the availability of raw materials such
as pigments, resins, solvents, and additives. The capacity of the
Decorative Paints Market to satisfy client demand and complete orders on
schedule can be directly impacted by any disruption or deficit in the supply of
raw materials. Due to their critical role in the manufacturing process,
influence on product quality and performance, cost ramifications, regulatory
compliance, and innovation, raw materials play a significant role in the
decorative paints market.
Opportunity: Strong Distribution Channels
A strong and extensive distribution network supports
the effective supply and delivery of decorative paints to end users in the
decorative paint sector in the United Arab Emirates. The distribution channel
frequently includes a number of intermediaries, such as producers, wholesalers,
retailers, and dealers. The intermediaries cooperate to make sure that
consumers may buy decorative paints in different parts of the nation. The
decorative paint manufacturers in the UAE create a variety of paint products
that are essential to the supply chain. To meet regional demand, they
frequently have manufacturing sites spread across the nation. In big cities,
manufacturers may also have their own retail stores or showrooms where
customers may buy paint goods directly.
Recent Developments
- The UAE is currently working on several
significant transport and road infrastructure projects, including the USD
11 billion Etihad Rail, the USD 5.9 billion hyperloop project between
Dubai and Abu Dhabi, the USD 2.7 billion Sheikh Zayed double-deck road
project, and others.
- On July 15, 2022, the investment of USD 27.8
million in various infrastructure development projects has been announced
by the Crown Prince of Ajman in the northern emirate. With an emphasis on
the industries of building and architecture, it seeks to modernize its
economy.
- Additionally, the UAE is expected to reach USD
89.93 billion in infrastructure projects by the end of 2026.
- In February 2022, Arsonsisi's Powder Coatings
Manufacturing Business was purchased by PPG. PPG is able to increase
the range of powder coatings it offers in Europe, the Middle East, and
Africa (EMEA), adding metallic bonding, one of the fastest-growing markets
for powder coatings used in specialty finishes for automotive, appliance,
and general industrial applications.
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Market Segmentation
The UAE decorative paints market is divided by product
type, type of plant, application, sales channel, and end user. Based on product
type, the market is divided into water based and solvent based. Based on the
type of paint, the market is divided into emulsion, enamel, distemper, primer,
textures, and others. Based on application, the market is divided into exterior
and interior. Based on sales channel, the market is divided into offline and
online. Based on end user, the market is divided into residential and
non-residential. Based on region, the market is segmented into Dubai, Abu
Dhabi, Sharjah, and the Rest of UAE.
Company Profiles
Jotun U.A.E. Ltd. (LLC), Sigma Paints SA Limited, The
Sherwin-Williams Company, Akzo Nobel UAE Paints L.L.C, Berger Paints Emirates
Limited (LLC), Caparol Paints LLC, Kansai Paint Co. Ltd, PPG Industries Inc,
Ritver Paints & Coatings, and Thermilate Middle East Trading LLC are the
key players in the UAE decorative paints market.
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Attribute
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Details
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Base Year
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2022
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Historical Years
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F
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Report Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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Product Type
Type of Plant
Application
Sales Channel
End User
Region
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Regional Scope
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Dubai,
Abu Dhabi, Sharjah, and Rest of UAE.
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Key Companies Profiled
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Jotun U.A.E. Ltd. (LLC), Sigma Paints
SA Limited, The Sherwin-Williams Company, Akzo Nobel UAE Paints L.L.C, Berger
Paints Emirates Limited (LLC), Caparol Paints LLC, Kansai Paint Co. Ltd, PPG
Industries Inc, Ritver Paints & Coatings, and Thermilate Middle East
Trading LLC.
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Customization Scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and Purchase Options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request)
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Report Scope:
In this report, the UAE decorative paints market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- UAE Decorative Paints Market, By Product Type:
- Water Based
- Solvent Based
- UAE Decorative Paints Market, By Type of Paint:
- Emulsion
- Enamel
- Distemper
- Primer
- Textures
- Others
- UAE Decorative Paints Market, By Application:
- UAE Decorative Paints Market, By Sales Channel:
- UAE Decorative Paints Market, By End User:
- Residential
- Non-Residential
- UAE Decorative Paints Market, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present in the UAE Decorative Paints Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market
players (up to five).
UAE Decorative Paints Market is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]