UAE Paints & Coatings market is anticipated
to register a robust CAGR during the forecast period. Paints are used to
decorate, protect and extend the life of natural and synthetic materials,
acting as a barrier against environmental influences. Paints can be roughly
divided into decorative paints that are applied on-site to decorate and protect
buildings, etc., and industrial paints that are applied at factories to enhance
finished products such as automobiles. Paint is a mixture of four basic
ingredients: Pigments, resins, solvents, and additives. The pigment is the color,
and the resin is the binder or glue. A solvent is a carrier that makes
everything liquid and evaporates when the paint dries. Additives provide
specific performance characteristics such as anti-stain or anti-mildew
properties. Paint is a mixture of four basic ingredients: Pigments, resins, solvents,
and additives.
Coating refers to both the substance and the
process of applying that substance to the label material. A coating is a
(usually liquid) material used to create a film covering the surface of one or
more layers within the label construction. Coatings improve the appearance and
finish of a surface, add a protective layer to a surface, improve the
printability of a surface, or promote adhesion between adjacent or subsequent
layers and substances. Coatings are typically applied in a liquid state and
converted to a solid film by oxidation (a chemical reaction with oxygen),
evaporation (a vehicle turns into a gas leaving a solid film), or
polymerization (a chemical reaction induced by a catalyst). Common types of
coating substances include emulsions, and lacquers. Coatings can be applied
during the manufacturing or conversion process on press, or as a separate
finishing operation before or after label printing and can be applied to the
entire surface of the material (overcoat) or only a portion of the surface.
Paints and Coatings is a
thriving industry with its unique properties of providing glossy and decorative
finishes, industrial applications of paints and coatings in areas such as
construction and architecture, automotive, energy and is increasing.
Rise in Demand for Paints &
Coating is Fueling the Growth of the Market
According to the Arab Monetary Fund (AMF) in 2020, UAE’s
construction sector accounted for almost 20% of the total Arab Construction Sector
i.e. out of USD186.8 billion, UAE output was USD36.8 billion. Dubai Expo, Abu
Dhabi Economic Vision 2030 and We the UAE 2031 are major factors in shaping the
UAE’s economy from oil sector to other key sectors such as tourism and
electrical. Projects such as Mohammed bin Rashid Solar Park (USD13.61 billion),
Sharjah Forest Community (USD2.18 billion), and Dubai Commerce City (USD870
million) are bringing huge investments into the country both from local and
international players. Such investments are expected to drive the UAE Paints
& Coatings Market during the forecast period.
The construction industry in the United Arab Emirates is
expected to have a bright future, thanks to a number of government programmes,
including the Sheikh Zayed Housing Programme, the National Strategy of Higher
Education 2030, the Energy Strategy 2050, and the Dubai Tourism Strategy. These
initiatives anticipate financial support for residential and commercial
building projects.
The Abu Dhabi Department of Municipalities and Transport
(DMT) has given the go-ahead for the development of 18 new projects in 2022 in
various locations throughout the Abu Dhabi emirate, including Saadiyat Island,
Yas Island, Al Reem Island, Madinat Zayed, and other sites. These projects are
anticipated to create 5,037 new dwelling units.
In 2021, the UAE government launched Operation 300bn.
Under this strategy, the country aims to increase its manufacturing sector’s
contribution to the national economy from USD36.21 to USD81.68 billion by 2030.
The strategy focuses on initiatives that help create 13,500 new industrial
SMEs. It mainly focuses on companies and industries committed to sustainable
development, advanced technology, and intelligent infrastructure. The new
investment will take advantage of Dubai Industrial City's world-class
infrastructure, which has played a key role in the country's industrial sector.
Already the region's largest manufacturing and logistics hub with over 550
million square feet, the Operation 300bn expect the expansion of the
manufacturing footprint in the Emirates to expand into industrial park
warehouses, retail, and mixed-use facilities. Operation 300bn aims to solidify
Emirates as an attractive global business destination by investing in
logistics, real estate, research and development and the country's
knowledge-based economy.
Furthermore, The UAE released its National Tourism
Strategy in November 2022, aiming to attract an additional US$27 billion in
tourism and 40 million overnight guests by 2031. The UAE wants tourism to
contribute US$122.54 billion to its GDP.
The industrial, commercial, and architectural markets
rely heavily on coatings to protect their assets. A coating is generally
defined as a thin layer of solid material on a surface that provides enhanced
protective, decorative, or functional properties. More specifically, it is a liquid,
liquefiable or mastic composition that, when applied to a surface, transforms
into a solid protective, decorative, or functional adhesive film. Protective
coatings are applied to surfaces to protect substrates from corrosion. An
effective way to protect metals from corrosion is to apply a protective coating
to physically isolate the substrate from its surroundings. Coatings protect
against corrosion as they prevent the elements necessary to initiate the
corrosion process from coming together, actively prevent electrochemical
reactions from occurring, or direct the corrosion process in a non-damaging
direction to the goods.
Technological Advancements in
Paint and Coating Industry:
Megatrends including consumer interest, globalization,
and socio-ecological concerns all have a big impact on how the paint and
coating sector develops. The greatest technology for performance and
eco-sustainability of paints and coatings is being embraced by businesses as
globalization gains momentum. The paint and coating business has unquestionably
increased demand for technology due to the stability and dependability of raw
materials as well as the need for more environmentally friendly solutions. For
instance, the UAE's paint sector has seen considerable technological
breakthroughs in recent years, which have sparked the creation of cutting-edge,
high-performance paints and coatings. This has assisted in solving a variety of
issues encountered by the building and construction sector, including adverse
weather conditions, pollution, and durability requirements, moisture damage,
washable paint, germ-killing paints, and odor-free paints.
Latest Developments
in UAE Paints & Coatings Market
- In April 2022, PPG completed the acquisition of Arsonsisi's powder coating manufacturing business. PPG expands powder coating offerings in Europe, Middle East and Africa (EMEA), one of the fastest growing markets for powder coatings used in specialty finishes for automotive, appliance and general industrial applications, also including metallic bonds.
- In May 2021, PPG introduced Coraflon Platinum powder coating for architectural metals. PPG Coraflon Platinum Powder Coatings are available worldwide in a variety of colors and gloss levels, including mica and metallic finishes, and can be used for corrosion and weather resistance in metallic structural and architectural applications.
- In January 2023, the Amana Group announced the completion and handover of Jotun's USD40.9 million major strategic project at the Dubai Science Park. The state-of-the-art facility is part of the company's new regional office MEIA (Middle East, India and Africa) and covers a construction area of 23,000 sq.m. The facility has corporate user rooms for regional operations and includes the main boardroom, meeting rooms, prayer rooms, gymnasium, training room, recreation zone, dining room, and other areas. In addition, the R&D laboratory building allows testing and research work on high quality wet, solvent and powder coatings and is located on a dedicated floor. Also included are two pilot production labs, a loading area and warehouse, a paint studio, offices for the lab staff, and a conference room. The facility also showcased JOTUN's premium products, using 100% Jotun paints and coatings products. The project is on track to achieve LEED Silver classification in the near future.
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Market Segmentation
UAE Paints
& Coatings market is
segmented on the basis of technology, resin, sales
channel, end use and region. Based on technology, the market
is bifurcated into water based and
solvent based. Based on resin, the market is further bifurcated into acrylic, alkyd, polyurethane, epoxy,
polyester, and others. Based on sales channel, the market is further divided into direct and indirect. Based on end use, the market is further bifurcated into architectural, industrial, and infrastructure. Based on region, the market is further bifurcated into Dubai, Abu Dhabi, Sharjah, and Rest of UAE
Market player
Major market players in the UAE Paints & Coatings market are Akzo Nobel UAE
Paints L.L.C, Jazeera Factory for Paints Company, Kaizen Paint UAE, European
United Tr. Co. LLC., Jotun U.A.E. Ltd. (L.L.C.), Terraco UAE Ltd, Zamil
Industrial Investment Co. (LLC), National Paints Factories Co. Ltd., Gulf
Polyester Powder Coating Company, Berger Paints Emirates Ltd.
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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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Historic Data
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2018–
2022
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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 Million and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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Technology
Resin
Sales Channel
End Use
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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Akzo Nobel
UAE Paints L.L.C, Jazeera Factory for Paints Company, Kaizen Paint UAE, European
United Tr. Co. LLC., Jotun U.A.E. Ltd. (L.L.C.), Terraco UAE Ltd, Zamil
Industrial Investment Co. (LLC), National Paints Factories Co. Ltd., Gulf
Polyester Powder Coating Company, Berger Paints Emirates Ltd.
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs.
|
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Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, UAE Paints & Coatings Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
·
UAE
Paints & Coatings Market, By Technology:
o
Water based
o
Solvent based
·
UAE
Paints & Coatings Market, By Resin:
o Acrylic
o Alkyd
o Polyurethane
o Epoxy
o Polyester
o Others
·
UAE
Paints & Coatings Market, By Sales Channel:
o
Direct
o Indirect
·
UAE
Paints & Coatings Market, By Sales Channel:
o
Architectural
o
Industrial
o Infrastructure
·
UAE
Paints & Coatings Market, By Region:
o
Dubai
o
Abu
Dhabi
o
Sharjah
o
Rest
of UAE
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the UAE Paints & Coatings market.
Available Customizations:
With the
given market data, Tech Sci 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.
The UAE Paints &
Coatings 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]