Introduction

Paint refers to any pigmented liquid, liquefiable, or solid mastic composition, which gets converted into a thin layer when applied to a substrate. It is commonly used to protect, color, and provide texture to objects. Different types of paints are widely available in the market, such as synthetic or watercolor. Paint is typically sold, stored, and applied in a liquid form.

To have an edge over the competition by knowing the market dynamics and current trends of “Saudi Arabia Paints & Coatings Market”, request for Sample Report here

Major Saudi Arabia Paints & Coatings Market Drivers

Major factors driving the Saudi Arabia paints & coatings market are rapid increase in urbanization, rise in residential construction activities, government support and growing tourism industry. Under the Sakani Program, launched, which was launched in 2017, government has set targets to increase the homeownership rates in the country to 70% by 2030. Ministry of Housing have set targets to increase the number of homes in Saudi Arabia to 2.8 million by constructing 700,000 additional houses in the country by 2025. Since, the government is increasingly focussing on the construction of residential projects, demand for paints and coatings is expected to increase in the future, which in turn will create lucrative growth opportunities for Saudi Arabia paints & coatings market.

Paints & coatings are sold by players such as PPG Industries, Asian Paints, Berger Paints, Sherwin-Williams, and AkzoNobel, which are marketed with a multi-year guarantee against corrosion, due to the enhancements in the performance of coatings, which will fuel the demand of the market. Moreover, to improve performance, the manufacturers are launching various new products in the market that are environmentally friendly. Thus, these advancements in technology, along with the introduction of various new products, are some of the factors boosting the Saudi Arabia paints & coatings market growth.

The Saudi Arabia government has launched various initiatives such as NEOM and Saudi Arabia Megaproject Vision 2030, which has increased the construction activities in the country. This factor is boosting the demand for paint & coating market in Saudi Arabia. The launch of nanotechnology has played a vital role in the growth of the industry. In addition to this, with the introduction of zero or low-VOC content formulations, the leading companies in the market are increasingly opting for this technology to develop nano paints & coatings, which will further propel the demand of the market. China is one of the largest countries for shipping and shipbuilding. Furthermore, the use of plastic tubes is rising in the textile, electronics, petrochemicals, healthcare, pharmaceutical, and urban construction sectors in the shipbuilding industry. It is also creating various opportunities for the powder coatings industry to invest in these sectors, particularly in the emerging economies of APAC and South America. On the other hand, more dying time required by waterborne coating as compared to solvent-borne coatings, is likely to hinder the market growth.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. According to Saudi Arabia paints & coatings market outlook, acrylic segment is expected to dominate the market during the forecast period. Acrylic powder coatings, ranging from thin-film clear coats to very smooth, offers a high-performance finish with outstanding weather resistance, high-gloss colors, making them ideal for outdoor applications with excellent exterior durability. Due to these benefits, customers are opting for acrylic segments in the market, which will further boost the growth of the segment.

Based on Technology, the market is segmented into waterborne technology, solvent-borne technology, powder coating, and others. As per Saudi Arabia paints & coatings market analysis, Ultraviolet (UV) and Electron beam (EB), is growing at a higher CAGR. UV- and EB-cured coating provides high reactivity, longer shelf life, rapid curing, low-temperature processing, high hardness, virtually no VOC emission, and abrasion resistance, which will further fuel the market growth. UV curing technology is used in industrial finishing areas such as wire coating, wood coating, automotive coating, packaging coating, floor finishing, and decorative metal coating. The demand for UV & EB-curing paints & coatings is anticipated to grow, especially in the automotive industry as they are highly suitable for automotive finishing, which in turn, will energize the growth of the Saudi Arabia paints & coatings market.

Based on End-Use, the market is segmented into architectural, general industrial, automotive OEM & refinish, packaging, coil, and others. The architectural segment is expected to grow at a higher CAGR during the forecast period. Architectural paints & coatings are also known as decorative paints & coatings or building paints, are applied on the exterior and interior walls of all kinds of commercial, residential, institutional, and industrial buildings, which will propel the growth of the Saudi Arabia paints & coatings market. In addition to this, rising safety standards will boost the demand for fireproof and waterproof coatings on buildings.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Fee Customization here

Various notable players operating in the Saudi Arabia paints & coatings market are Jotun, Akzo Nobel N.V., Jazeera Paints, BASF SE, Sak Coat, Kansai Paint Co.,Ltd., National Paints Factories Co. Ltd., Hempel A/S, The Sherwin-Williams Company, and SIGMA PAINTS, among others.

The Saudi Arabia paints & coatings market segmented into resin type, technology, and end-use. Based on resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. Based on technology, the market is segmented into waterborne technology, solvent-borne technology, powder coating, and others. Based on end-use content, the market is segmented into architectural, general industrial, automotive OEM & refinish, packaging, coil, and others.

Key Developments:

• • In March 2020, Jazeera Paints, a leading company in paints industry in Middle East region, announced that it has opened 6 new showrooms in Tabuk, Sharqia and Riyadh, which has enabled the company to expand its footprint in the Saudi Arabia paints & coatings market.

For detailed scope of the “Saudi Arabia Paints & Coatings Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is Saudi Arabia paints & coatings market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia paints & coatings market? What will be the impact of market drivers and market restraints in the future?
  • Which resin type generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various technology areas of Saudi Arabia paints & coatings market and how they are poised to grow?
  • What companies are the major participants in Saudi Arabia paints & coatings market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Resin Type, By Technology, By End-Use
Regional Coverage	Saudi Arabia
Companies Profiled	Akzo Nobel N.V., Jazeera Paints, BASF SE, Kansai Paint Co.,Ltd., National Paints Factories Co. Ltd., Hempel A/S, SIGMA PAINTS, Jotun, The Sherwin-Williams Company, Sak Coat, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Saudi Arabia Paints & Coatings Market by Resin Type

• • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Polyester
  • Other Resin Types

Saudi Arabia Paints & Coatings Market by Technology

• • Waterborne Technology
  • Solvent-borne Technology
  • Powder Coating Technology
  • Others

Saudi Arabia Paints & Coatings Market by End-Use

• • Architectural
  • General Industrial
  • Automotive OEM & Refinish
  • Packaging
  • Coil
  • Others

Saudi Arabia Paint & Coating Leading Market Players (Option: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Akzo Nobel N.V.
  • Jazeera Paints
  • BASF SE
  • Kansai Paint Co.,Ltd.
  • National Paints Factories Co. Ltd.
  • Hempel A/S
  • SIGMA PAINTS
  • Jotun
  • The Sherwin-Williams Company
  • Sak Coat