GCC Paints & Coatings Market Size (2024 - 2029)

The GCC paints and coatings market is anticipated to experience growth driven by a focus on tourism and construction activities. The market size is influenced by the increasing demand for bio-based and eco-friendly paints and coatings, presenting opportunities for expansion. Saudi Arabia is expected to be a dominant force in the market, while water-borne technology is projected to see the most significant growth during the forecast period.

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Market Size of GCC Paints & Coatings Industry

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GCC Paints And Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration High

Major Players

GCC Paints And Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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GCC Paints and Coatings Market Analysis

The market for GCC paints and coatings is expected to grow at a CAGR of around 4% during the forecast period. One of the major factors driving the market studied is the Increasingfocus on tourism and construction.

  • Increase in demand for bio-based & eco-friendly paints & coatings is likely to act as an opportunity for the market studied.
  • Saudi Arabia is likely to dominate the market during the forecast period.
  • Water-borne technology is expected to witness the highest growth during the forecast period.

GCC Paints and Coatings Industry Segmentation

GCC paints & 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 Coatings
Transportation
Packaging
Geography
Saudi Arabia
Qatar
Kuwait
United Arab Emirates
Bahrain
Oman
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GCC Paints & Coatings Market Size Summary

The GCC paints and coatings market is poised for growth, driven by a surge in tourism and construction activities across the region. The market is characterized by a shift towards bio-based and eco-friendly products, presenting new opportunities for expansion. Saudi Arabia is anticipated to lead the market, bolstered by its robust construction sector, which aligns with national initiatives like the National Transformation Program 2020 and Saudi Vision 2030. The demand for water-borne technology is expected to rise, reflecting a broader industry trend towards environmentally sustainable solutions. This shift is partly influenced by governmental regulations favoring products with lower volatile organic compound (VOC) emissions.

The market landscape is partially consolidated, with a few key players such as Akzo Nobel N.V., National Paints Factory, Jotun A/S, Wacker Chemie AG, and Jazeera Paints holding significant market shares. Solvent-borne coatings, despite their advantages in terms of drying time and environmental resilience during curing, are experiencing stagnant demand due to the increasing preference for water-borne alternatives. The growing applications of solvent-borne coatings in various sectors, including furniture, metal, and industrial equipment, continue to support their market presence. Overall, the GCC paints and coatings industry is set to benefit from the region's expanding construction opportunities, which are expected to drive demand for both solvent and water-borne products in the coming years.

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GCC Paints & Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increased Focus on Tourism and Construction

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Resin Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Alkyd

      3. 2.1.3 Polyurethane

      4. 2.1.4 Epoxy

      5. 2.1.5 Polyester

      6. 2.1.6 Other Resin Types

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Radiation Cure

      4. 2.2.4 Other Technologies

    3. 2.3 End-user Industry

      1. 2.3.1 Architectural

      2. 2.3.2 Automotive

      3. 2.3.3 Wood

      4. 2.3.4 Industrial Coatings

      5. 2.3.5 Transportation

      6. 2.3.6 Packaging

    4. 2.4 Geography

      1. 2.4.1 Saudi Arabia

      2. 2.4.2 Qatar

      3. 2.4.3 Kuwait

      4. 2.4.4 United Arab Emirates

      5. 2.4.5 Bahrain

      6. 2.4.6 Oman

GCC Paints & Coatings Market Size FAQs

The GCC Paints & Coatings Market is projected to register a CAGR of less than 4% during the forecast period (2024-2029)

Akzo Nobel N.V., National Paints Factory, Jotun A/S, Jazeera Paints and Wacker Chemie AG are the major companies operating in the GCC Paints & Coatings Market.

GCC Paints and Coatings Market Report Snapshots

GCC Paints and Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)