Saudi Arabia Paints and Coatings Market - Growth, Trends, and Forecast (2019- 2024)

The market is segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-borne, Solvent-borne, Radiation Cure, and Other Technologies), End-user Industry (Architectural, Automotive, Wood, Industrial, Transportation, and Packaging)

Market Snapshot

Saudi Arabia Paints and Coatings market - summary
Study Period:

2016-2024

Base Year:

2018

Key Players:

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Market Overview

The Saudi Arabian paints and coatings market is expected to record a CAGR of over 4% during the forecast period of 2019–2024. The major factor driving the market studied is an increase in private investment participation. 

  • The increasing raw material prices are expected to hinder the growth of the market studied.
  • The rising demand for eco-friendly products is likely to act as an opportunity for the market studied in the forecast period.

Scope of the Report

The Saudi Arabian paints and coatings market report includes:

Resin Type
Acrylic
Alkyd
Polyurethane
Epoxy
Polyester
Other Resin Types
Technology
Water-borne
Solvent-borne
Radiation Cure
Other Technologies
End-user Industry
Architectural
Automotive
Wood
Industrial
Transportation
Packaging

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Key Market Trends

Increasing Private Investment Participation is Expected to Drive the Market

  • The Saudi government has played a key role in increasing private investment participation. The government helps investors by providing them support during cross-border trade, in order to access new markets, establishing cities or zones that specialize in manufacturing of coatings, and hence, maintaining a high level of attractiveness to potential investors, facilitating the provision of joint benefit services and facilities, creating of attractive, profitable, and tangible investment opportunities, and enhancing competition locally and internationally.
  • In response to the market potential and the changes in the Kingdom, 13 local and foreign investors have agreed to sign non-binding statements of intent (SOI) with the Saudi Arabian General Investment Authority (SAGIA), to further discuss future investments in the Kingdom. Dow became the first company to obtain a trading license from the government of Saudi Arabia, permitting full ownership in the trading sector.
  • The Saudi government’s joint ventures include collaborating with various international market leaders, which is leading to an increase in its production base.
  • The coating facility, located in PlasChem Park in Jubail, is expected to address the needs of the Saudi market, with an innovative range of acrylic-based polymers for water treatment, industrial, and architectural coating applications.
  • These factors are expected to increase private investments in the construction sector, which, in turn, is likely to increase the usage of paints and coatings over the forecast period.
Saudi Arabia Paints and Coatings market - construction 11

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The Architectural Industry to Drive the Market

  • Paints and coatings are used on both the interior and exterior of structures. They not only add colors or serve decorative purposes, but also perform a wide range of functions.
  • The interior of the houses, like bathroom walls, which have moisture, need to have wipe-ability in order to keep them clean. Paints with glossier sheens have a tighter molecular structure than flat paints, making it more difficult for moisture to penetrate. Thus, these types of paints are used in the bathroom.
  • On the exterior of the house, paints and coatings are not only used to give it a new look, but also to protect it from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation, without fading, peeling away, and cracking.
  • Thus, with the growing architectural market, there is expected to be a continuous demand in the paints and coatings market in this sector during the forecast period.
  • The country’s primary growth in construction has been largely powered by the massive investments made by the government and the increased inflow of FDI. A few major construction projects are as follows:
    • Junail II
    • Makkah Grand Mosque Redevelopment
    • King Abdullah Port Expansion
    • The Kingdom Tower, Jeddah
    • King Abdullah Economics City of Rabigh 
  • These developments in the construction sector are partly due to the robust economic growth and its positive implications on corporate profits, household income, and the state of public finances.
  • These factors are boosting the demand for architectural paints and coatings market in the country.
Saudi Arabia Paints and Coatings market - End-user

Competitive Landscape

The Saudi paints and coatings market is fragmented. Major companies include Al-Jazeera, Jotun, AkzoNobel NV, and National Paints Factories Co. Ltd, among others.

Major Players

  1. Akzo Nobel N.V.
  2. Jazeera Paints
  3. Jotun
  4. National Paints Factories Co. Ltd.

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

Saudi Arabia Paints and Coatings market - concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Increasing Raw Material Prices

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces 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

  5. 5. MARKET SEGMENTATION

    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 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Radiation Cure

      4. 5.2.4 Other Technologies

    3. 5.3 End-user Industry

      1. 5.3.1 Architectural

      2. 5.3.2 Automotive

      3. 5.3.3 Wood

      4. 5.3.4 Industrial

      5. 5.3.5 Transportation

      6. 5.3.6 Packaging

  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 NV

      2. 6.4.2 Al Jazeera Paints

      3. 6.4.3 BASF SE

      4. 6.4.4 Jotun

      5. 6.4.5 Kansai Paints

      6. 6.4.6 National Paints Factory Co. Ltd

      7. 6.4.7 PPG Industries (Sigma Paints)

      8. 6.4.8 Protech Powder Coatings

      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 (ZINDCO)

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

    1. 7.1 Rising Demand for Eco-friendly Products

    2. 7.2 Other Opportunities

**Subject to Availability

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