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Oman’s annual coatings market size is estimated to be in excess of 40M lit. Of this, decorative paints account for 80% and industrial paints account for the remaining 20%, said Jacob Kuruvilla, Country Manager of Hempel Oman in a recent report in the Times of Oman.
Jacob went on to say: "The Oman coatings industry has been growing constantly over the past decade. Growth has been consistent with Oman’s GDP growth rate and, in some years, it is even higher. In the medium term, we expect the industry to grow by 5-6% yr-on-yr.
"We are driving a significant expansion of our retail network in the Sultanate to serve an ever-increasing decorative segment since the market emphasis is shifting towards more sophisticated products and finishes,” he added.