Saudi Arabia Paints & Coatings market is expected to grow at a significant CAGR in the forecast period. The oil industry is the major revenue-generating industry in Saudi Arabia and with the rise in government initiatives to diversify the income sources and to reduce the dependency on the oil industry, the leading authorities are promoting the development of the paints & coatings industry. An increase in the disposable income among middle-class families is surging the expenditure capacity of the consumers which in turn is influencing the growth of the paints & coatings market in the next five years. Supportive government policies and initiatives such as Saudi Vision 2030, the construction of Neom City, is promoting the construction of residential and commercial spaces which in turn is expected to boost the demand for paints & coatings. Paints & coatings are used in the interior of homes for decorative purposes or to add colors to the walls and perform different functions according to the requirements of the room. They are also used in the exterior surface of the house to enhance the aesthetics of the house and
Saudi Arabia Paints & Coatings market is segmented into resin type, technology, product type, end-user industry, regional distribution, and company. Based on the technology, the market can be divided into water-borne, solvent-borne, radiation cure, powder coating, and others. The solvent-borne segment is expected to witness growth in the forecast period, 2023-2027. An increase in the solvent-borne technology segment demand owing to the presence of extreme weather conditions and the offering of several benefits including resistance to severe weather conditions, durability, strength, amongst others are influencing the demand of the segment.
The major players operating in the Saudi Arabia Paints & Coatings market are Al-Jazeera Factory for Paints Co., Jotun Saudia Co. Ltd., AkzoNobel Saudi Arabia Ltd, Sigma Paints Saudi Arabia Ltd. (Sigma), National Paints Factories Co. Ltd, Saudi Arabia BASF, Kansai Paint Middle East FZCO, Protech Powder Coatings, Inc., Sherwin Williams Saudi Arabia Ltd, Zamil Industrial Coating Company, among others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Objective of the Study
- To analyze the historical growth of the market
size of Saudi Arabia Paints & Coatings market from 2017 to 2020.
- To estimate and forecast the market size of Saudi
Arabia Paints & Coatings market from 2021 to 2027 and growth rate
until 2027.
- To classify and forecast Saudi Arabia Paints
& Coatings market based on resin type, technology, product type,
end-user industry, regional distribution, and company.
- To identify dominant region or segment in the Saudi
Arabia Paints & Coatings market.
- To identify drivers and challenges for Saudi
Arabia Paints & Coatings market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia Paints & Coatings market.
- To identify and analyze the profile of leading
players operating in Saudi Arabia Paints & Coatings market.
- To identify key sustainable strategies adopted
by market players in Saudi Arabia Paints & Coatings market.
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Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of manufacturers across the globe. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
Market Insights Research calculated the market size of
Key Target Audience
- Paints & Coatings manufacturing
companies
- Market research and
consulting firms
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums, and
alliances related to Paints & Coatings market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units and CAGR for 2017-2021
and 2022E-2027F
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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Resin Type
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Technology
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Product Type
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End user Industry
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Regional scope
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Western Region, Northern and Central Region, Eastern Region,
Southern Region
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Key companies profiled
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Al-Jazeera Factory for Paints Co., Jotun Saudia Co. Ltd.,
AkzoNobel Saudi Arabia Ltd, Sigma Paints Saudi Arabia Ltd. (Sigma), National
Paints Factories Co. Ltd, Saudi Arabia BASF, Kansai Paint Middle East FZCO,
Protech Powder Coatings, Inc., Sherwin Williams Saudi Arabia Ltd, Zamil
Industrial Coating Company.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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