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26 - 29 March 2018

Dubai World Trade Centre

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Expected demand in paint industry to reach 2.5m tons

 

As the Gulf Cooperation Council (GCC) is one of the fastest growing markets for construction and real estate projects, the rapidity of progress is having a positive effect on the paints and coatings market.

Capitalizing on the industry’s growth, HEMPEL Paints, a global supplier of marine, protective and decorative coatings, recently inaugurated a new flagship showroom in Jubail as part of its strategic expansion plan to meet the industry’s demand as well as in alignment with Saudi Vision 2030.

Global figures show that architectural and decorative as well as protective coatings for end consumers and industry professionals utilize around 75 percent of the total market demand, while this proportion differs from one country to another.

 

“The development of the protective coatings’ segment has witnessed a boost in the oil and gas sector and infrastructural investments,” said Yusuf Al-Sayed, country manager of HEMPEL, Saudi Arabia.

A study conducted by PCI magazine, showed the total market for paints and coatings in the Middle East was over 2.09 million tons and it is forecast to rise to more than 2.5 million tons by 2018.

This is equivalent to annual growth rate of 3.6 percent on average.

“We are pleased with this inauguration — a new addition to our assets to meet the industry demand in Jubail, home to the world’s largest petrochemical companies,” said Al-Sayed.

“We contribute toward the improvement of the paint industry and the development of this sector by offering quality products in line with our growth plans characterized by opening 56 shops in the Middle East including Saudi Arabia, Kuwait and Bahrain.”
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