Middle-East Paints and Coatings Market Size (2024 - 2029)

The Middle East paints and coatings market is anticipated to experience growth, driven by increased infrastructural developments and public investments in construction projects across the region. The market's expansion is supported by the demand for eco-friendly products and the renovation of architectural infrastructure to boost tourism. However, fluctuations in raw material prices may pose challenges. Saudi Arabia leads the market due to its robust construction activities, while Kuwait is projected to be the fastest-growing country in the region.

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Market Size of Middle-East Paints and Coatings Industry

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Middle-East Paints and Coatings Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.00 %
Market Concentration High

Major Players

Middle-East Paints and Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Middle East Paints and Coatings Market Analysis

The Middle East paints and coatings market is projected to register a CAGR of over 3% during the forecast period.

In 2020, the construction industry slowed down due to the COVID-19 pandemic. However, in 2021, the market developed because of an increase in infrastructural developments in various nations across the region. Over the following years, the industry is expected to grow as governments increase public investments to fund new projects.

  • Over the short term, constructing hotels and restaurants, re-painting historic hotels, and maintaining architectural and ornamental infrastructure (to attract visitors) will likely strengthen the market studied.
  • The volatility in raw materials prices is expected to restrain the Middle-East paints and coatings market over the forecast period.
  • The growing demand for eco-friendly products is expected to offer various opportunities for the market's growth over the forecast period.
  • Saudi Arabia dominates the paints and coatings market within the region owing to surging construction activities. Kuwait is expected to be the fastest-growing country.

Middle East Paints and Coatings Industry Segmentation

Paints and coatings can be classified as water-based and solvent-based based on the drying technique employed. Water-based coatings contain water as a volatile compound, and solvent-based coatings contain volatile compounds like benzene. Paints and coatings are used to decorate and protect buildings, appliances, automobiles, equipment, and others. The market is segmented by resin type, technology, end-user industry, and geography. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, radiation cure, and other technologies. By end-user industry, the market is segmented into architectural, automotive, wood, general industrial coatings, transportation, and other end-user industries. The report also covers the market size and forecast for the Middle-East paints and coatings market in eight countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

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
General Industrial Coating
Transportation
Other End-user Industries
Geography
Saudi Arabia
Qatar
Kuwait
UAE
Iran
Iraq
Oman
Bahrain
Rest of the Middle-East
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Middle-East Paints and Coatings Market Size Summary

The Middle East paints and coatings market is anticipated to experience steady growth over the forecast period, driven by increased infrastructural developments and public investments in various countries. The market's expansion is supported by the construction of hotels, restaurants, and the maintenance of architectural infrastructure to attract tourism. However, fluctuations in raw material prices pose a challenge to the market's growth. The rising demand for eco-friendly products presents new opportunities for market expansion. Saudi Arabia leads the regional market due to its robust construction activities, while Kuwait is projected to be the fastest-growing market.

The paints and coatings industry in the Middle East is characterized by significant use in both residential and non-residential construction projects, particularly in Saudi Arabia, Qatar, and Kuwait. The region's strong construction activities are expected to drive the consumption of paints and coatings. Saudi Arabia, as the largest national market, benefits from a substantial pipeline of future construction opportunities aligned with its Vision 2030 agenda, which includes major megaprojects. The market is highly consolidated, with major players like Akzo Nobel NV, Jazeera Paints, and Jotun holding significant shares. Recent expansions and strategic partnerships, such as Jazeera Paints' new showroom in Iraq and AkzoNobel's collaboration with McLaren Racing, highlight ongoing efforts to strengthen market presence and enhance brand image.

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Middle-East Paints and Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increased Focus on Tourism and Construction in the Middle East

      2. 1.1.2 Booming Commercial Construction Activities

    2. 1.2 Restraints

      1. 1.2.1 Volatility in Raw Material Prices

    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 (Market Size in Value)

    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 General Industrial Coating

      5. 2.3.5 Transportation

      6. 2.3.6 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Saudi Arabia

      2. 2.4.2 Qatar

      3. 2.4.3 Kuwait

      4. 2.4.4 UAE

      5. 2.4.5 Iran

      6. 2.4.6 Iraq

      7. 2.4.7 Oman

      8. 2.4.8 Bahrain

      9. 2.4.9 Rest of the Middle-East

Middle-East Paints and Coatings Market Size FAQs

The Middle-East Paints and Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Akzo Nobel N.V., Jotun, Jazeera Paints, Hempel A/S and NATIONAL PAINTS FACTORIES CO. LTD. are the major companies operating in the Middle-East Paints and Coatings Market.

Paint and Coatings Market in Middle East Report Snapshots

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