Jotun Paints projects 20pc increase in UAE

According to Erik Aaberg, managing director, Jotun Paints, the company, is enjoying some 30 per cent share of an estimated total $150 million paints market in the UAE. “During the past three years, we had recorded a 20 per cent increase in the Middle East region and 30 per cent growth in the UAE. This year we foresee a 20 per cent increase in the UAE alone,” he said.

He said some 60 to 65 per cent of the company’s business in the Middle East is in architectural decorative paint, 20 per cent is in protective coating and the rest in marine paint, adding that the region, which includes the Gulf states, Jordan, Syria, Egypt and Iran, is the main focus on the Norway-based company.

“Whilst the market size in the UAE continues to expand, with mega projects being launched on a daily basis, international competitors have flooded the market in a bid to secure a slice of the business, leaving local suppliers in uncharted territory.

The Middle East region is hit more with low margins because increase in prices of raw materials and building materials is more than in other parts of the world,” he explained.