Qatar Paints and Coatings Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Qatar Paints and Coatings Market Analysis
The Qatar Paints & Coatings market is expected to grow at a CAGR of over 3% during the forecast period. Major factor driving the market studied is increasing construction activities due to FIFA 2022 World Cup. On the flipside, slowdown in automobile sales coupled with the negitive impact of COVID - 19 are some of the major restraints, which is expected to hinder the growth of market.
- Upcoming infrastructure activities in the country is expected to offer various lucrative opportunities for the growth of market.
- By resin type, acrylic resin segment is expected to dominate the market owing to the increase in the usage in coating applications due to its properties such as transparency and UV resistance.
- By end-user industry, architectural segment is expected to dominate the market owing to increase in the construction activities in the region.
Qatar Paints and Coatings Market Trends
This section covers the major market trends shaping the Qatar Paints & Coatings Market according to our research experts:
Acrylic Resin Type to Dominate the Market
- Acrylic resins have properties, such as transparency, high color ability, and UV resistance, in coating solutions. They are used in water-borne systems very often, which result in low VOC emission.
- The application of acrylic coatings leads to high surface hardness. In certain applications, such as walls, decks, and roofing, acrylic coatings provide elastomeric finishes to improve the UV resistance of the surface, if employed with some fluids.
- Application of acrylic coatings is primarily found in the construction industry, for high-end finishing in roofs, decks, bridges, floors, and other applications. Water-based acrylic coatings are high in demand, owing to the environmental concerns, like the negative impact of VOCs affecting the air quality in the environment.
- Apart from this, other applications of acrylic paints and coatings are found in marine vessels and structures, automotive, electrical products, machinery, and various metal product, among others.
- Owing to all the above-mentioned factors, the market for acrylic resins is expected to grow rapidly over the forecast period.
Increasing Demand from Architectural Segment
- Architectural coatings are applied on the exteriors of houses, not only to give them a new look, but also to protect them from blistering summers, freezing winters, soaking rain, and the daily bombardment of UV radiation, without fading, peeling away, and/or cracking.
- The Qatari construction market is likely to grow, majorly due to the Qatar National Vision 2030 and the FIFA 2022 World Cup. Qatar is one of the major countries in the GCC, where the demand for construction is growing swiftly. However, the construction sector in the country has been witnessing a downward trend as compared to 2016, and it witnessed a huge decline in 2017.
- According to Qatar Monthly Statistics, the total building permits in March 2020 declined by almost 11% as compared to March 2019.
- Despite this scenario, the residential and non-residential construction activities in the country alone account for almost two-third of the total construction projects, with major demand for offices, retail stores, sporting stadiums, etc.
- Sales of residential houses increased by 37.5% in March 2020, as compared to March 2019. Also, sales of shops, commercial buildings, and administrative offices increased by 100% for the same period.
- Furthermore, the projects in pipeline is a major factor driving the demand for architectural coatings in the country. The residential sector accounts for almost 9% of the total projects, while the healthcare and hospitality sectors account for around 5% and the buildings for mixed use account more than 70%.
- Decrease in tourism and delays in construction projects due to spread of COVID-19 is likely to hamper growth of architectural sector. However, in the long run market is expected to recover at a steady rate.
- Some of the major companies operating in the architectural sector in Qatar are - Akzo Nobel N.V., Caparol, and Jotun.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for architectural paints & coatings in the country during the forecast period.
Qatar Paints and Coatings Industry Overview
The Qatar Paints & Coatings market is consolidated with top five players accounting for a major share of the market. Some of the key companies in the market include Akzo Nobel N.V., Axalta Coating Systems, Hempel A/S, Jotun, and Caparol.
Qatar Paints and Coatings Market Leaders
-
Akzo Nobel N.V.
-
Axalta Coating Systems
-
Hempel A/S
-
Jotun
-
Caparol
*Disclaimer: Major Players sorted in no particular order
Qatar Paints and Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Drivers
- 4.2 Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Resin Type
- 5.1.1 Acrylic
- 5.1.2 Alkyd
- 5.1.3 Polyurethane
- 5.1.4 Epoxy
- 5.1.5 Polyester
- 5.1.6 Other Resin Types
-
5.2 Technology
- 5.2.1 Water-borne
- 5.2.2 Solvent-borne
-
5.3 End-user Industry
- 5.3.1 Architectural
- 5.3.2 Automotive
- 5.3.3 Wood
- 5.3.4 Industrial Coatings
- 5.3.5 Transportation
- 5.3.6 Packaging
6. DISTRIBUTION CHANNEL ANALYSIS
-
6.1 Architectural Coatings
- 6.1.1 Direct
- 6.1.2 Retail
-
6.2 Automotive Coatings
- 6.2.1 Direct
- 6.2.2 Retail
-
6.3 General Industrial & Protective Coatings
- 6.3.1 Direct
- 6.3.2 Retail
-
6.4 Transportation Coatings
- 6.4.1 Direct
- 6.4.2 Retail
7. COMPETITIVE LANDSCAPE
- 7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 7.2 Market Share/Ranking Analysis**
- 7.3 Strategies Adopted by Leading Players
-
7.4 Company Profiles
- 7.4.1 Akzo Nobel N.V.
- 7.4.2 Asian Paints Berger
- 7.4.3 Axalta Coating Systems
- 7.4.4 Caparol
- 7.4.5 Hempel AS
- 7.4.6 Jazeera Paints
- 7.4.7 Jotun
- 7.4.8 National Paints Factories Co. Ltd
- 7.4.9 Ritver Paints & Coatings
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityQatar Paints and Coatings Industry Segmentation
The Qatar Paints & Coatings market report includes:
| Resin Type | Acrylic |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types | |
| Technology | Water-borne |
| Solvent-borne | |
| End-user Industry | Architectural |
| Automotive | |
| Wood | |
| Industrial Coatings | |
| Transportation | |
| Packaging |
Qatar Paints and Coatings Market Research FAQs
What is the current Qatar Paints & Coatings Market size?
The Qatar Paints & Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Qatar Paints & Coatings Market?
Akzo Nobel N.V. , Axalta Coating Systems , Hempel A/S , Jotun and Caparol are the major companies operating in the Qatar Paints & Coatings Market.
What years does this Qatar Paints & Coatings Market cover?
The report covers the Qatar Paints & Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Qatar Paints & Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Qatar Paints and Coating Industry Report
Statistics for the 2024 Qatar Paints and Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Qatar Paints and Coating analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
