SAUDI ARABIA PAINTS & COATINGS MARKET

Saudi Arabia Paints & Coatings Market Size & Insights

Saudi Arabia Paints & Coatings market size was valued at USD 2.0 billion in 2024 and is forecast to touch USD 2.7 billion in 2032, and the market is expected to grow at a CAGR of 4.2% from 2025-2032 owing to rapid increase in urbanization, rise in residential construction activities, government support and growing tourism industry.

Saudi Arabia Paints & Coatings Market Overview

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.

Saudi Arabia Paints & Coatings Market Drivers

Increase in Construction Activities

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.

Construction of Megaproject and Development of Tourism Industry under Vision 2030

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.

Since KSA has opened its tourism sector, the tourism industry has witnesses tremendous growth and this growth momentum is forecast to continue in coming years. As per the Ministry of Tourism, the number of tourist touched a whopping 109.3 million tourist in 2023 including 27.4 million Inbound tourists. As tourism industry and construction industry is interlinked, the surge in tourism industry is projected to drive construction industry thereby driving demand for paints and coatings market in KSA.

Saudi Arabia Paints & Coatings Market Segment Analysis

Resin Type Insights: Acrylic segment is expected to dominate the market

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. Acrylic resins are used in coating formulations for their transparency, high color strength and UV stability. These resins are generally found in water-based systems because they have the lowest VOC content. Increased demand for acrylic resins is driven by their environmentally friendly properties that decrease the odor and the amount of solvent in paint. Acrylic coatings are primarily used in the building and construction industry for application on roofs, walls and other surface areas.

Technology Type Insights: Waterborne paints generates the largest market revenues

By technology, the waterborne segment is estimated to be the largest due to the compliance with environmental regulations and shift in consumer preference. The UAE has also implemented strict regulations in order to reduce VOC emissions and promote environmental friendly measures.

Typically these coatings contain significantly less VOC than solvent based options and are in compliance with environmental regulations. Compliance with these requirements is crucial for projects seeking green certifications, which promote sustainable development. In addition, waterborne coatings offer practical advantages, such as great work ability and low maintenance. They have faster drying and less downtime and they can also be washed with water instead of harsh solvents which is good for handling and reduces operating costs for service providers or end users.

End-Use Insights: Architectural coatings dominate the market

End Use Industry Analysis Architectural coatings dominate the market, used to protect surfaces as well as to impart decoration. These are utilized in houses and in the buildings along with most other paints or coatings that are employed for specific purposes for instance the wall paints and roof coatings. Outside, paints and coatings are intended to provide protection and help make homes look good despite of blistering summers and UV light exposure. Architectural Coatings are used in both commercial and residential buildings such as office buildings and houses. These coatings can be used on both interior and exterior surfaces and may include sealers or additional products.

Saudi Arabia Paints & Coatings Market Major Players & Competitive Landscape

Several leading companies operating in the Saudi Arabia paints & coatings market are Jotun, Akzo Nobel N.V., Jazeera Paints, Kansai Paint, National Paints Factories, Hempel A/S, and SIGMA Paints, among others.

Saudi Arabia Paints & Coatings Market News

• • In March 2024, Hempel introduced Hempatherm IC. It is coating for thermal insulation. It deals with Corrosion Under Insulation (CUI).
  • In January 2024, Sherwin-Williams Company launched a waterborne wood coating, called Sher-wood Environmentally Adaptable (EA) Hydroplus.
  • 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.

Scope of the Report

Saudi Arabia Paints & Coatings Market Research Report Segmentation

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.

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

• • Jotun
  • Akzo Nobel N.V.
  • Jazeera Paints
  • Kansai Paint
  • National Paints Factories
  • Hempel A/S
  • SIGMA Paints