JEDDAH, 1 May 2007 — The paints industry sees brighter prospects amid Saudi Arabia’s plan of establishing six economic cities together with the ongoing enormous construction boom.
The demand for hardware and tools, especially paints — both interior and exterior —is expected to mark a sizzling two-digit growth per annum, according to latest projections.
Research carried out by industry professionals in Saudi Arabia and other parts of the Middle East estimates that construction projects currently under way in the Kingdom and elsewhere in the Gulf are in excess of $1 trillion.
Projects in the Kingdom have doubled in the last 12 months to more than $200 billion and as a result, the demand for paints is growing at over 11 percent per year, according to market leaders.
“Saudi Arabia’s size of the market for paints alone is in the region of about SR2.7 billion,” Deepak Pai, marketing manager at Jotun Saudia Co. Ltd., told a press conference at the company’s factory at Jeddah Industrial City yesterday. The day was marked by the simultaneous launch of the company’s “Lady” brand interior paint across the Middle East.
The company’s Jeddah and Yanbu factories together account for 50 million liters annually and their capacity could be increased with expansion plans, he said.
“As the product is named, it is targeted toward ladies and end-users,” Gunnar Thoresene, managing director of the company, said.
“Innovation and strong dealer network are the two main pillars of Jotun’s strategy,” he said, adding that its dealer network covers 160 major outlets across the Kingdom. “The new product is a pioneering move that utilizes the latest paint technology to offer home consumers luxurious emulsion paints that are washable and long-lasting and of neutral scent,” he said. “It also signifies a move that reflects the increasing participation of ladies in their homes,” he added. The company is a major producer and supplier of paints, coatings and powder coatings.
The launch of the interior brand follows two years of extensive research in the regional Dubai-based research and development laboratory in close collaboration with corporate R&D to come up with an interior paint brand that provides an unrivaled home painting solution.
“Discerning female consumers and families now have high-quality acrylic paints in a beautiful matt finish that offers unique benefits that no other paint in the market can provide,” he said.
A demonstration showed that cleaning stains and dirt off painted walls will not leave any spots or affect the quality of the paint finishing.
Further, the solvent-free paints do not leave any trace of odor after six hours of application. “And the colors are guaranteed to last for years,” Thoresen added.
“Lady Essentials” adds to a distinctive range of paint products Jotun has brought to the Middle East region, he said. “The product has been specifically developed to cater to the preferences of home consumers in the Middle East, who want high-quality finishes with the convenience of washable and odor-free paints.”
Other Jotun paints previously introduced in the region such as the Jotun Pearl and the recently repositioned Fenomastic have been met with positive response, he pointed out.
