Business & Money | Thursday 9 March, 2017 9:00 am |

As the Gulf Council Countries (GCC) is one of the fastest-growing markets for construction and real estate projects, the rapidity of progress is certainly 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 Al Jubail city, as part of its strategic expansion plan to fulfill industry’s demand as well as in alignment with Saudi 2030 vision.

Global figures show that architectural and decorative as well as protective coatings for end consumers and industry professionals utilize around 75% 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 by the oil and gas sector and infrastructural investments, explained Yu0073uf Al Sayed, Country Manager of HEMPEL, Saudi Arabia.  A late 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 forecasted to rise to more than 2.5 million tons by 2018. This is equivalent to an average annual growth rate of 3.6%.

“We are pleased with this inauguration; a new addition to our assets to satisfy and meet the industry demand in Al Jubail, which hosts one of the largest industrial cities and is a home to the Middle East's and world's largest petrochemical companies. Our showroom offers a complete solution for home exteriors and Interiors in addition to floor coatings and protective paint. Our approach targets an extensive outreach spreading onto the corners of the Kingdom to ensure satisfying our consumers’ needs with the increasing demand. We contribute towards the improvement of the paint industry and the development of this sector, through offering quality products in line with our growth plans characterized by opening 56 shops in the Middle East including: KSA, Kuwait and Bahrain.” added Al Sayed.
HEMPEL, situated in the Eastern Province, has four main branches in Riyadh, Jeddah, Yanbu and Al Jubail city all supplied from its Jeddah Factory located in the Second industrial city with a production capacity of 32 million liters per year. Hempel group owns today 27 factories, and is present in 80 countries,6 research and development centers in the region and more than 150 stock points and it has witnessed a strong financial development in the past 10 years.