GCC Paints & Coatings Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), by Technology (Water-borne, Solvent-borne, Radiation Cure, and Others), by End-user Industry (Architectural, Automotive, Wood, Industrial Coatings, Transportation, and Packaging), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

GCC Paints and Coatings Market - Market Summary
Study Period:


Base Year:


Key Players:

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Market Overview

The market for GCC paints and coatings is expected to grow at a CAGR of 4.04% during the forecast period of 2019-2024. One of the major factors driving the market studied is the Increasing focus on tourism and construction.

  • Saudi Arabia is likely to dominate the market during the forecast period.
  • Water-borne technolgy is expected to witness the highest growth during the forecast period.

Scope of the Report

 GCC paints & coatings market report includes:

Resin Type
Other Resin Types
End-user Industry
Industrial Coatings
Radiation Cure
Other Technologies
Saudi Arabia
United Arab Emirates

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Key Market Trends

Increasing Focus on Tourism and Construction to Drive the Market

  • Saudi Arabia is the most active player in the Middle Eastern construction industry. In 2018, the total value of Saudi Arabian capital projects was valued at approximately USD 1.2 trillion, followed by the United Arab Emirates and Kuwait, with USD 713 billion and USD 215 billion, respectively.
  • The construction market in the United Arab Emirates has been stable and has witnessed a positive trend in the recent years. The total value of the United Arab Emirates' contract awards in 2018 was been USD 31.6 billion, as compared to USD 28.6 billion in 2017.
  • Kuwait also is showing a strong incentive to focus on the infrastructure, and to invest in expanding its activities in the sector. New residential projects are also being developed in the country. Some other projects include, a railway system (total worth USD 18 billion) and an airport, in the northern part of the country (worth USD 12 billion). The main focus is on PPP (Public-Private-Partnerships) projects, to minimize the risk and boost the commercial returns.
  • Oman and Bahrain are also showing a promising future in terms of construction. Both have project pipelines, and have put lots of effort in developing their infrastructure and diversifying their economies. Bahrain’s focus is on housing regions and transport infrastructure. The expansions, of the new rail system and the airport (both owned by the Ministry of Transportation), are two of the most notable forthcoming projects.
  • Currently, the overall construction industry in the region is full of substantial opportunities, both for contractors and investors. This growing construction industry in the region is expected to drive the market for paints and coatings, in the coming years.
GCC Paints and Coatings Market - Market Trend

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Water-borne Technology to Witness the Highest Growth Rate

  • The VOCs released from solvent-borne coatings is the core reason for the manufacturers switching to water-borne coatings.
  • Apart from this, other properties, like low odor, more durability, and more block resistance make water-borne coatings more preferable to solvent-borne coatings.
  • There are many regulations from several governments, which support water-based coatings. These are usually used in several applications, which include transportation, building & construction, and industrial applications.
  • In recent times there has been a propensity to seek coatings with high usability, and water clean-up characteristics among the users.
  • Water-borne coatings meet the requirements and facilitate low viscosity as well, without the addition of low-molecular weight monomers.
  • Hence, water-borne technology is expected to witness the highest growth rate owing to the aforementioned reasons.
GCC Paints and Coatings Market - Segmentation

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Competitive Landscape

The market for GCC paints & coatings market is partially consolidated as majority of the market share is divided among few key players. Some of the major companies of the market include Akzo Nobel N.V., National Paints Factory, Jotun A/S, and Jazeera Paints, among others. 

Major Players

  1. Akzo Nobel N.V.
  2. National Paints Factory
  3. Jotun A/S
  4. Jazeera Paints

* Complete list of players covered available in the table of contents below

GCC Paints and Coatings Market - Market Concentration

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increased Focus on Tourism and Construction

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Alkyd

      3. 5.1.3 Polyurethane

      4. 5.1.4 Epoxy

      5. 5.1.5 Polyester

      6. 5.1.6 Other Resin Types

    2. 5.2 End-user Industry

      1. 5.2.1 Architectural

      2. 5.2.2 Automotive

      3. 5.2.3 Wood

      4. 5.2.4 Industrial Coatings

      5. 5.2.5 Transportation

      6. 5.2.6 Packaging

    3. 5.3 Technology

      1. 5.3.1 Water-borne

      2. 5.3.2 Solvent-borne

      3. 5.3.3 Radiation Cure

      4. 5.3.4 Other Technologies

    4. 5.4 Geography

      1. 5.4.1 Saudi Arabia

      2. 5.4.2 Qatar

      3. 5.4.3 Kuwait

      4. 5.4.4 United Arab Emirates

      5. 5.4.5 Bahrain

      6. 5.4.6 Oman


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel NV

      2. 6.4.2 Al Jazeera Paints

      3. 6.4.3 BASF SE

      4. 6.4.4 Beckers Group

      5. 6.4.5 Berger Paints Emirates Ltd (Asian Paints Ltd)

      6. 6.4.6 Caparol

      7. 6.4.7 Jotun A/S

      8. 6.4.8 RPM International Inc.

      9. 6.4.9 PPG Industries Inc.

      10. 6.4.10 Terraco UAE Ltd

      11. 6.4.11 Thermalite Middle East

      12. 6.4.12 Wacker Chemicals Middle East FZE (Wacker Chemie AG)

      13. 6.4.13 National Paints Factories Co. Ltd

      14. 6.4.14 Hempel Group

      15. 6.4.15 Premier Paints Company Limited (The Sherwin-Williams Company)

      16. 6.4.16 Ritver Paints & Coatings

    5. *List Not Exhaustive

    1. 7.1 Increase in Demand for Bio-based & Eco-friendly Paints & Coatings

**Subject to Availability

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