Market Size of Qatar Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Qatar Protective Coatings Market Analysis
By the end of the year, the Qatar Protective Coatings Market was worth USD 49 million, and it is expected to grow at a CAGR of over 3% over the next five years.The COVID-19 pandemic had harmed the currently studied market.However, post-pandemic, the rising implementation of infrastructural projects has revived the country's protective coatings market.
- Increasing demand from Qatar's oil and gas industry is expected to drive the market.
- Strict rules about VOC emissions are likely to slow the growth of the market that was looked at.
During the forecast period, the growing demand for powder coatings is likely to give the market a number of chances to grow.
Qatar Protective Coatings Industry Segmentation
Protective coatings are materials applied to the substrate surfaces of steel and concrete structures to protect them from environmental damage and corrosion. The market involves the use of coatings on new structures as well as the maintenance of existing structures. These structures can include industrial, commercial, and public infrastructure but exclude house buildings and private apartments. The protective coatings market is segmented by end-user industry, technology, and resin type. By end-user industry, the market is segmented into oil and gas, mining, power, infrastructure, and other end-user industries. By technology, the market is segmented into solvent-borne, waterborne, powder, and UV-cured. The market is segmented by resin type: acrylic, epoxy, alkyd, polyurethane, polyester, and others. The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.
| End-user Industry | |
| Oil and Gas | |
| Mining | |
| Power | |
| Infrastructure | |
| Other End-user Industries |
| Technology | |
| Waterborne | |
| Solventborne | |
| Powder Coatings | |
| UV-Cured |
| Resin Type | |
| Acrylic | |
| Epoxy | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Types |
Qatar Protective Coatings Market Size Summary
The Qatar protective coatings market is poised for growth, driven by the resurgence of infrastructural projects following the COVID-19 pandemic. The market is experiencing increased demand from the oil and gas sector, which relies heavily on protective coatings for corrosion, water, and fire resistance. These coatings are essential for maintaining safety and operational efficiency in harsh environments. However, the market faces challenges due to stringent regulations on volatile organic compound (VOC) emissions. Despite these challenges, the demand for powder coatings presents new opportunities for market expansion. The ongoing development of major projects, such as the North Field Production Sustainability Offshore Project and the North Field Expansion Project, underscores the critical role of protective coatings in supporting Qatar's energy sector.
Qatar's ambitious infrastructure initiatives, driven by the Qatar National Vision 2030 and the FIFA World Cup 2022, are significant contributors to the protective coatings market's growth. The construction of stadiums, transportation hubs, and other public facilities necessitates robust corrosion protection solutions to ensure structural integrity and aesthetic appeal. The government's substantial investment in new rail lines, an international airport, and the Lusail City project highlights the increasing demand for protective coatings. This fragmented market features key players like Akzo Nobel N.V., Axalta Coating Systems, Hempel A/S, Jotun, and Sigma Paints, all of which are actively contributing to the market's development through innovative solutions and strategic initiatives.
Qatar Protective Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rising implementation of infrastructure projects in Qatar
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1.1.2 Increasing demand from Qatar's Oil and gas industry
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1.2 Restraints
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1.2.1 Fluctuations in the prices of Raw materials
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Value in USD Million)
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2.1 End-user Industry
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2.1.1 Oil and Gas
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2.1.2 Mining
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2.1.3 Power
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2.1.4 Infrastructure
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2.1.5 Other End-user Industries
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2.2 Technology
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2.2.1 Waterborne
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2.2.2 Solventborne
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2.2.3 Powder Coatings
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2.2.4 UV-Cured
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2.3 Resin Type
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2.3.1 Acrylic
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2.3.2 Epoxy
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2.3.3 Alkyd
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2.3.4 Polyurethane
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2.3.5 Polyester
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2.3.6 Other Resin Types
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Qatar Protective Coatings Market Size FAQs
What is the current Qatar Protective Coatings Market size?
The Qatar Protective 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 Protective Coatings Market?
Akzo Noble N.V., Jotun, Sigma Paints , Axalta Coating Systems and Hempel A/S are the major companies operating in the Qatar Protective Coatings Market.
