Saudi Arabia Industrial Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The market is segmented by Resin Type (Epoxy, Polyester, Vinyl Ester, Polyurethane, and Other Resin Types), Technology (Water-borne, Solvent-borne, Radiation-cured Coatings, and Powder Coatings), and Product Type (General Industrial and Protective).

Saudi Arabia Industrial Coatings Market Size

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Market Summary - Saudi Arabia Industrial Coatings Market
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 3.50 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Industrial Coatings Market Analysis

The Saudi Arabian industrial coatings is estimated to witness a healthy growth, at an estimated CAGR of over 3.5%, over the forecast period. The major factors driving the market studied are the increasing private investment participation in the Saudi Arabian region. The challenges in supply chain and logistics, and strict regulations on imports are expected to hinder the growth of the market studied.

  • The growing oil and gas sector activities are expected to drive the demand for the market, during the forecast period.
  • Upcoming infrastructure projects are projected to act as an opportunity for the market in the future.

Saudi Arabia Industrial Coatings Market Trends

This section covers the major market trends shaping the Saudi Arabia Industrial Coatings Market according to our research experts:

Growing Oil and Gas Sector to Increase the Demand for Protective Coatings

  • The growing oil & gas sector drives the industrial coatings market, as the sector involves operations, like drilling, wellhead, and sub-sea equipment, and this equipment requires coatings especially for heat & abrasion resistance, and for long component life. 
  • The Kingdom of Saudi Arabia has the second-largest oil reserves in the world, accounting for almost 266 billion barrels. Government-owned company, the Saudi Arabian Oil Company (Saudi Aramco), continues to identify new fields, expand existing fields, and enhances production, and thereby, is driving the coatings market. 
  • Saudi Aramco’s long-term plans are expected to drive the industrial coatings market in the forecast period.
  • The company has announced its plans to boost the oil production at its Marjan offshore oilfield, by 300,000 bpd, and in Abqaiq (which is the company’s largest oil processing facility). Also, the company has announced its plans to expand production from its Zuluf and Safaniya offshore oilfields.
  • In the next decade, the company aims to double its gas production to 23 billion standard cubic feet per day (scf/day). During its early phase, Fadhili gas plant is expected to process 2.5 billion scf/day from onshore.
  • Owing to all the aforementioned factors, the market for industrial coatings in the country is projected to grow during the forecast period.
Saudi Arabia Industrial Coatings Market - Segmentation Trend 1

Growing Usage of Polyurethane Resins

  • Polyurethane resins are thermosetting resins, which are produced by a reaction between polyalcohol and an organic di-isocyanate, which do not melt when heated.
  • Polyurethane coatings are usually applied over primers and intermediate coats to provide a lustrous glossy finish, while maintaining resistivity and providing excellent performance against high levels of UV and other extreme weather conditions, in areas that are prone to high wear and resistivity toward a wide range of solvents.
  • The demand for polyurethane-based coatings, during the forecast period, is expected to be augmented by the increasing infrastructural activities in the country. Moreover, they are seen as a potential substitute for epoxy resins.
Saudi Arabia Industrial Coatings Market - Segmentation Trend 2

Saudi Arabia Industrial Coatings Industry Overview

The Saudi Arabian industrial coatings market is consolidated. Key players in the market include National Paints Factories Co. Ltd, Al-Jazeera Paints., AkzoNobel N.V., PPG Industries, Inc., and Jotun, among others.

Saudi Arabia Industrial Coatings Market Leaders

  1. National Paints Factories Co. Ltd

  2. Al-Jazeera Paints.

  3. AkzoNobel N.V.

  4. PPG Industries, Inc.

  5. Jotun

*Disclaimer: Major Players sorted in no particular order

Market Concentration - Saudi Arabia Industrial Coatings Market.png
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Saudi Arabia Industrial Coatings Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Private Investment Participation

      2. 4.1.2 Growing Oil and Gas Sector

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Polyester

      3. 5.1.3 Vinyl Ester

      4. 5.1.4 Polyurethane

      5. 5.1.5 Other Resin Types

    2. 5.2 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Radiation-cured Coatings

      4. 5.2.4 Powder Coatings

    3. 5.3 Product Type

      1. 5.3.1 General Industrial

      2. 5.3.2 Protective

        1. 5.3.2.1 Oil and Gas

        2. 5.3.2.2 Mining

        3. 5.3.2.3 Power

        4. 5.3.2.4 Infrastructure

        5. 5.3.2.5 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and 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 AkzoNobel N.V.

      2. 6.4.2 Al-Jazeera Paints

      3. 6.4.3 Axalta Coating Systems

      4. 6.4.4 Jotun

      5. 6.4.5 Kansai Paint Co., Ltd.

      6. 6.4.6 National Paints Factory Co. Ltd

      7. 6.4.7 PPG Industries, Inc.

      8. 6.4.8 Protech Powder Coatings Inc.

      9. 6.4.9 Sak Coat

      10. 6.4.10 The Sherwin-Williams Company

      11. 6.4.11 United Coatings Industries

      12. 6.4.12 Zamil Industrial Coatings

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand for Eco-friendly Products

    2. 7.2 Upcoming Infrastructure Projects to Boost the Demand

**Subject to Availability
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Saudi Arabia Industrial Coatings Industry Segmentation

The Saudi Arabian industrial coatings market report includes:

Resin Type
Epoxy
Polyester
Vinyl Ester
Polyurethane
Other Resin Types
Technology
Water-borne
Solvent-borne
Radiation-cured Coatings
Powder Coatings
Product Type
General Industrial
Protective
Oil and Gas
Mining
Power
Infrastructure
Others
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Saudi Arabia Industrial Coatings Market Research FAQs

The Saudi Arabia Industrial Coatings Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

National Paints Factories Co. Ltd, Al-Jazeera Paints., AkzoNobel N.V., PPG Industries, Inc. and Jotun are the major companies operating in the Saudi Arabia Industrial Coatings Market.

The report covers the Saudi Arabia Industrial Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia Industrial Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Saudi Arabia Industrial Coatings Industry Report

Statistics for the 2024 Saudi Arabia Industrial Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Saudi Arabia Industrial Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Saudi Arabia Industrial Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)