United Arab Emirates (UAE) Paints and Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Key Highlights

• The increasing commercial construction activities in the United Arab Emirates are driving the demand for the market studied.
• Conversely, fluctuation in raw material prices is estimated to hamper the market's growth.
• The nanotechnology used in the paints and coatings industry is expected to offer various market growth opportunities during the forecast period.
• In the end-user segment, the architectural sector dominated the market in the country.

United Arab Emirates (UAE) Paints and Coatings Market Trends

Acrylic Resins to Dominate the Market

• Acrylic resins are polymeric materials containing acrylic monomers in the form of dispersion, solids, and solution. These monomers are usually esters of methacrylic acids, acrylics, and other derivatives.
• The two principal forms of acrylics used are thermoplastic and thermoset. Thermoplastic acrylic resins are synthetic resins achieved by polymerizing different acrylic monomers. Thermoset acrylic resins are cured at elevated temperatures by reacting with other polymers. Thermoplastic acrylic resins are of two types: solution acrylics and acrylic latex coatings. These thermoplastic acrylic resins are used for architectural coatings applications.
• Thermoset acrylic resins are used in product finishes for metal furniture coatings, automotive topcoats, maintenance coatings, appliances, and other original equipment manufacturing finishes. They have significant performance advantages regarding gloss, exterior durability, corrosion resistance, chemical resistance, solvent resistance, and hardness.
• Acrylic resins develop properties such as transparency, high color ability, and UV resistance in coating solutions. They are often used in waterborne systems, which results in low VOC emissions. The demand for Waterborne acrylic resins is increasing are environmentally friendly products that can reduce odor and solvents used in paint.
• The application of acrylic coatings is primarily found in the construction industry for high-end finishing in roofs, decks, bridges, floors, and other applications. The UAE Ministry of Infrastructure Development launched 36 projects, including federal road and maintenance projects and developments in security, education, health, and services, at the cost of USD 2.7 billion. The projects include the construction and maintenance of federal roads will be carried out under a budget of USD 920.3 million. The implementation and maintenance of the government buildings will be done at the cost of USD 1.8 billion, while the budget allocated for four road implementation projects is USD 212.3 million.
• Owing to the abovementioned factors, demand for acrylic resin type will likely dominate the market studied over the coming years.

Architectural Coatings to Dominate the Market

• Architectural paints and coatings are by far the largest segment in the country's whole paints and coatings industry. Architectural coatings are meant to protect and decorate the surface features. These are used to coat buildings and homes. Most paints and coatings are designated for specific uses, such as roof coatings, wall paints, or deck finishes. Furthermore, each architectural coating provides certain decorative, durable, and protective functions.
• Architectural coatings are used in applications for commercial purposes, such as office buildings, warehouses, retail convenience stores, and shopping malls to residential buildings. Such coatings can be applied on outer and inner surfaces and include sealers or specialty products.
• Paints and coatings are applied on the house's exterior to give them a new look and protect them from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation without fading, peeling away, and cracking.
• In the United Arab Emirates, the construction sector includes a promising outlook in the country of various government initiatives, such as the Ministry of Education Strategic Plan 2017-2021, the National Strategy of Higher Education 2030, the Energy Strategy 2050, the Sheikh Zayed Housing Program, and Dubai Tourism Strategy. These initiatives expect investment in residential and commercial construction projects.
• In 2022, the Department of Municipalities and Transport (DMT) in Abu Dhabi approved the construction of Eighteen new projects. These projects will provide 5,037 new housing units in separate areas in the Abu Dhabi emirate, including Saadiyat Island, Yas Island, Al Reem Island, Madinat Zayed, and other regions.
• Hence, owing to the abovementioned factors, the demand for paints and coatings from the architectural segment is expected to witness considerable growth over the forecast period.

United Arab Emirates (UAE) Paints and Coatings Market Competitor Analysis

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
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