Saudi Arabia Paints & Coatings Market by Resin Type (Acrylic Resin, Alkyd Resin, Polyurethane Resin, Epoxy Resin, Polyester Resin, and Others), Technology (Water-Based, Solvent-Based, Powder-Based, and Others), and Product Type (Decorative Paints & Coatings and Industrial Paints & Coatings): Country Opportunity Analysis and Industry Forecast, 2020–2027
The Saudi Arabia paints & coatings market was valued at $8.7 billion in 2019, and is projected to reach $13.4 billion by 2027, growing at a CAGR of 7.3% from 2020 to 2027.
Paints & coatings products are the colored materials, which can be applied on interior and exterior surfaces in various forms such as water based, solvent based, powder based, and other compositions. These products are used to provide protection, preservation, decoration, and other purposes in the various applications including wood & furniture, automotive, aerospace, toys, metal coating, and others.
The key factor that drives the growth of the market include rise in building & construction and infrastructure development activities in the various sectors such as marine, transportation, and others. In addition, rapid growth in the automotive, packaging, food & beverages, aerospace & defense increases the demand for paints & coatings products, which in turn is anticipated to propel the growth of the market during the analyzed time frame. However, rise in prices of raw materials is expected to restrain the market growth from 2020 to 2027. On the contrary, increase in demand for bio-based and eco-friendly paints & coatings products is anticipated to create lucrative opportunity in this market in the coming years.
The Saudi Arabia paints & coatings market is segmented on the basis of resin type, technology, and product type. Depending on resin type, the market is categorized into acrylic resin, alkyd resin, polyurethane resin, epoxy resin, polyester resin, and others. On the basis of technology, it is bifurcated into water-based, solvent-based, powder-based, and others. The product types covered in the study include decorative paints & coatings and industrial paints & coatings. The decorative paints & coatings segment is further sub-segmented into emulsions, enamel paints, distemper, and cement paints (acrylic spray plaster & undercoats). The industrial paints & coatings segment is further sub-classified into powder coating, automotive coating, wood furniture & cabinet coating, coil coating, non-wood furniture and fixture (texture coatings), machinery & equipment, paper & films, and others.
KEY BENEFITS FOR STAKEHOLDERS - The report includes in-depth analysis of different segments and provides market estimations between 2020 and 2027.
- A comprehensive analysis of the factors that drive and restrict the growth of the Saudi Arabia paints & coatings market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the Saudi Arabia paints & coatings market growth, in terms of value.
- The key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current trends and future estimations from 2020 to 2027, which help to identify the prevailing market opportunities.
KEY MARKET SEGMENTS
By Resin Type • Acrylic Resin
• Alkyd Resin
• Polyurethane Resin
• Epoxy Resin
• Polyester Resin
o Polyether Ether Ketone (PEEK)
o Polyether Ketone (PEK)
o Polyaryl Ether Ketone (PAEK)
o Vinyl/Styrene Resins
By Technology • Water-based
o Radiation Curable
o High Solid
o Electron Beam
By Product Type • Decorative Paints & Coatings
o Enamel Paints
o Cement Paints (Acrylic Spray Plaster and Undercoats)
• Industrial Paints & Coatings
o Powder Coating
o Automotive Coating
o Wood Furniture & Cabinet Coating
o Coil Coating
o Non-Wood Furniture and Fixture (Texture Coatings)
o Machinery & Equipment
o Paper & Films
KEY MARKET PLAYERS • Akzo Nobel N.V.
• BASF SE
• Jazeera Paints
• Jotun A/S
• Kansai Paints Co., Ltd.
• National Paints Factories Co. Ltd.
• Protech Powder Coatings, Inc.
• The Sherwin-Williams Company
• Zamil Industrial Coatings
• United Coating Industries.
Other players operating in the value chain of the Saudi Arabia paints & coatings market are Sak Coast, Hempel, Saudi Paint Company Limited, Colors Est, PLI, Saleh Saman, and Others.
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Paint And Coating
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