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Kalkine Media ASX Share Market News & Research

Qemtex Launches Powder Coatings Plant in UAE Targeting Global Market

August 28, 2024 03:43 AM EDT | By News File Corp
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Qemtex Launches Powder Coatings Plant in UAE Targeting Global Market
Image source: Kalkine Media

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Umm Al Quwain, United Arab Emirates--(Newsfile Corp. - August 28, 2024) - Qemtex Chemical Holding has opened a new powder coatings manufacturing facility in the UAE. The plant, located in Umm Al Quwain, will become one of the largest in the region.

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Qemtex Chemical Holding

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Qemtex Chemical Holding announced today the launch of its new powder coatings plant in the UAE. The facility, situated in the Umm Al Quwain Free Trade Zone, produces a wide range of products, including architectural, industrial, and specialized powder coatings.

Production capacity expansion will be implemented in two stages: the initial output of 5,000 tons per year will be increased to 10,000 tons during the second stage. Qemtex plans to allocate at least 30% of its production to the UAE domestic market, with the remaining 70% destined for export to GCC, MENA, EU, and US markets.

Alexandr Glukhov, Group CEO, stated, "We've assembled a strong international team of experts with up to 30 years of industry experience from a dozen countries. This allows us to develop innovative, environmentally friendly solutions for clients from all around the world."

The company invested $16 million in production facilities and a state-of-the-art R&D center. This center is designed to become one of the top three powder coatings research facilities in the region.

Experts estimate that the global powder coatings market will grow by 5.5% annually through 2029, creating favorable conditions for the company's ambitious plans. "With the growing global demand for powder coatings, our new UAE plant is just the first step in Qemtex's international strategic development program to become one of the top 10 global producers," noted Zhandos Temirgali, Chairman of the Board of Directors.

For more information please contact:
Iurii Nemtcev
Qemtex Press Service
UAE, Dubai
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221228

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