Middle East Decorative Coatings Market - 2023-2030

Market Overview

Decorative coatings are scratch resistant and give a bright color to metal and plastic substrates. It is used in many applications, such as exterior and interior parts, automotive, consumer products, mobile phones, computers and cameras, jewelry and watches, bathroom equipment, door handles and eyewear.

Market Dynamics

The increasing investments in residential and commercial infrastructure construction because of rapid urbanization and inflating income levels represent one of the key factors fuelling market growth. Acrylic resins are widely used to produce opaque cladding, transparent sheeting and panel materials. It is also used in paints, resins, concretes, sealants, mortars, carpets, renders, furniture, baths, shower trays, sinks and architectural fabrics. Acrylic has good plasticizer resistance and flexibility and is also employed in the construction industry for repair finishes. It will boost the construction and residential industry and contribute to market growth.

The region's growing construction and housing activities are boosting the market growth

Numerous materials in construction sector should be high pressure. The construction industry in the Middle East is experiencing rapid growth, driving demand for decorative coating, particularly polyurethane coatings, for use in residential, commercial and industrial buildings. Polyurethane is used in various applications, including building and construction, bedding and furniture, automotive, electronics, footwear and packaging. Further, polyurethane coating is used as a thermal insulator in flooring, waterproofing and air sealing.

The construction industry can significantly impact the wood coating market, as construction activities often involve using wood products that require coating for protection and decorative purposes. Since there is a wide range of applications for decorative coatings, the building and construction industry accounts for the largest market share.

Factors such as the limited availability of raw materials hamper the Middle East decorative coatings

Decorative coatings compete with other materials, such as metals, plastics and composites, which may be perceived as more durable or easier to maintain. Decorative coatings require a supply of raw materials such as wood, pigments and resins and the availability of these materials may be constrained by factors such as resource depletion and transportation challenges.

COVID-19 Impact Analysis

The COVID-19 pandemic has impacted the decorative coatings market in the Middle East. However, the specific nature and extent of this impact may vary depending on the country and the specific sector of the market.

The pandemic has had several knock-on effects that could impact the demand for decorative coatings. The COVID-19 pandemic has disrupted construction activities in many parts of the world, including the Middle East, which could decrease demand for decorative coatings. The pandemic may also have changed customer behavior which could impact the demand for decorative coatings. For example, people may spend more time at home and be more likely to undertake home improvement projects involving decorative coatings. The pandemic has disrupted global supply chains, which led to a shortage of raw materials and other supplies needed to produce decorative coatings.

Segment Analysis

The Middle East decorative coatings market is segmented based on formulation, resin type, distribution channel, application and region.

Owing to its features such as water resistant, durability and excellent weather resistance, the acrylic resin type segment is leading among the other segments

Acrylic resin is a type of polymer commonly used in decorative coatings due to its superior performance properties. These properties include excellent weather resistance, high durability and good water resistance. The properties mentioned above make acrylic resin coatings ideal for use in the Middle East, where the hot and humid climate can be tough on coatings. Acrylic resin coatings are also known for their good adhesion and flexibility, making them well-suited for many surfaces. They also have low VOC emissions and are generally considered environmentally friendly.

In the Middle East decorative coatings market, acrylic resin coatings dominate due to their wide range of applications, from architectural and industrial to marine and protective coatings. They can be used for new constructions and maintenance of existing buildings. They are used for exterior and interior walls and surfaces and their durability makes them suitable for harsh climates, such as the Middle East. Additionally, the rising demand for sustainable and eco-friendly products in the region is also driving the demand for acrylic resin coatings. The Middle East governments are also implementing regulations and guidelines to promote low-VOC and eco-friendly coatings.

Competitive Landscape

The products and services offered by the competitors in the Middle East decorative coatings market have superior qualities. Manufacturers are taking several strategic decisions in the Middle East decorative coatings market to develop efficient technologies and increase production rates to meet market demand. The primary focus areas include collaborations, product launches and strategic mergers & acquisitions. The key companies operating in the market are Hempel, BASF SE, Nippon Paint Holdings Co., The Sherwin-Williams, RPM International, AkzoNobel N.V., Axalta Coating System LLC, Valspar Corporation Crown Paints Kenya PLC. Ltd. and Ritver.

Hempel

Overview: Hempel is a major manufacturer and supplier of protective coatings and coatings for the decorative, marine, container and yacht industries. The company was founded in 1915 and has grown to become one of the world's leading providers of coatings solutions. Hempel's products are designed to protect surfaces from corrosion, UV rays and other environmental factors. They also offer a range of specialized coatings for specific industries, such as marine and container coatings. Hempel also offers a range of decorative coatings. These products are designed to enhance the aesthetic appeal of surfaces while also providing protection. The company also offers a range of sustainability solutions, such as low VOC and eco-friendly coatings. Hempel operates in more than 80 countries, with manufacturing facilities and R&D centers around the world.

Product Portfolio:

• Hempel's Danotex HB: Danotex HB is a decorative coating made of synthetic rubber with excellent weathering capabilities. The product is perfect as a decorative rubber coating for exterior and interior surfaces such as walls, ceilings and partitions.

Key Development:

• On February 15, 2022, Hempel entered Middle East with the purchase of Khimji Paints. Hempel of Denmark has purchased Khimji Paints in Oman for an unknown value. The move supports the Lyngby group's ambition to double revenue to € 3 billion by 2025 by making it the first purchase in the Middle East's decorative paints market.

Why Purchase the Report?

• To visualize the Middle East decorative coatings market segmentation based on formulation, resin type, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the Middle East decorative coatings market by analyzing trends and co-development.
• Excel data sheet with numerous data points of refinish paints and coatings market-level with all segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.

The Middle East decorative coatings market report would provide approximately 40 tables, 37 figures and 154 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies