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. Download FREE Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=15547
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.
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.
AttributeDetailsBase Year2022Historical Years2018 – 2021Estimated Year2023Forecast Period2024 – 2028Quantitative UnitsRevenue in USD Billion and CAGR for 2018-2022 and 2023E-2028FReport CoverageRevenue forecast, company share, competitive landscape, growth factors, and trendsSegments CoveredProduct TypeType of PlantApplicationSales ChannelEnd UserRegionRegional ScopeDubai, Abu Dhabi, Sharjah, and Rest of UAE.Key Companies ProfiledJotun 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.Customization Scope10% free report customization with purchase. Addition or alteration to country, regional & segment scope.Pricing and Purchase OptionsAvail customized purchase options to meet your exact research needs. Explore purchase optionsDelivery FormatPDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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:
- Water BasedSolvent Based
- EmulsionEnamelDistemperPrimerTexturesOthers
- ExteriorInterior
- OfflineOnline
- ResidentialNon-Residential
- DubaiAbu DhabiSharjahRest of UAE
- Market DefinitionScope of the Market
- Markets CoveredYears Considered for StudyKey Market Segmentations
- Brand AwarenessKey Factors for Selecting VendorKey Satisfaction LevelKey Challenges Faced
- Market Size & Forecast
- By Value
- By Product Type (Water Based, Solvent Based)By Type of Paint (Emulsion, Enamel, Distemper, Primer, Textures, Others)By Application (Exterior, Interior)By Sales Channel (Offline, Online)By End User (Residential, Non-Residential)By Region (Dubai, Abu Dhabi, Sharjah, and Rest of UAE)
- Market Size & Forecast
- By Value
- By Product TypeBy Type of PaintBy ApplicationBy Sales ChannelBy End User
- Market Size & Forecast
- By Value
- By Product TypeBy Type of PaintBy ApplicationBy Sales ChannelBy End User