Market Size of Saudi Arabia Industrial Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Industrial Coatings Market Analysis
The Saudi Arabian industrial coatings is estimated to witness a healthy growth, at an estimated CAGR of over 3.5%, over the forecast period. The major factors driving the market studied are the increasing private investment participation in the Saudi Arabian region. The challenges in supply chain and logistics, and strict regulations on imports are expected to hinder the growth of the market studied.
- The growing oil and gas sector activities are expected to drive the demand for the market, during the forecast period.
- Upcoming infrastructure projects are projected to act as an opportunity for the market in the future.
Saudi Arabia Industrial Coatings Industry Segmentation
The Saudi Arabian industrial coatings market report includes:
| Resin Type | |
| Epoxy | |
| Polyester | |
| Vinyl Ester | |
| Polyurethane | |
| Other Resin Types |
| Technology | |
| Water-borne | |
| Solvent-borne | |
| Radiation-cured Coatings | |
| Powder Coatings |
| Product Type | |||||||
| General Industrial | |||||||
|
Saudi Arabia Industrial Coatings Market Size Summary
The Saudi Arabian industrial coatings market is poised for robust growth, driven by increasing private investments and the expanding oil and gas sector. The market is expected to benefit from the Kingdom's significant oil reserves and the activities of Saudi Aramco, which is actively enhancing production and exploring new fields. These developments are anticipated to boost the demand for industrial coatings, particularly in applications requiring heat and abrasion resistance. However, challenges such as supply chain issues and stringent import regulations may pose obstacles to market expansion. The upcoming infrastructure projects present further opportunities for growth, as they are likely to increase the demand for durable and high-performance coatings.
Polyurethane-based coatings are expected to see heightened demand due to their excellent performance in extreme weather conditions and their potential as a substitute for epoxy resins. These coatings are particularly valued for their glossy finish and resistance to UV and solvent exposure, making them suitable for high-wear areas. The market is characterized by a consolidated landscape, with key players such as National Paints Factories Co. Ltd, Al-Jazeera Paints, AkzoNobel N.V., PPG Industries, Inc., and Jotun leading the industry. As infrastructural activities continue to rise, the demand for industrial coatings, especially polyurethane-based ones, is projected to grow steadily over the forecast period.
Saudi Arabia Industrial 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 Increasing Private Investment Participation
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1.1.2 Growing Oil and Gas Sector
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1.2 Restraints
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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 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Resin Type
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2.1.1 Epoxy
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2.1.2 Polyester
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2.1.3 Vinyl Ester
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2.1.4 Polyurethane
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2.1.5 Other Resin Types
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2.2 Technology
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2.2.1 Water-borne
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2.2.2 Solvent-borne
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2.2.3 Radiation-cured Coatings
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2.2.4 Powder Coatings
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2.3 Product Type
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2.3.1 General Industrial
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2.3.2 Protective
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2.3.2.1 Oil and Gas
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2.3.2.2 Mining
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2.3.2.3 Power
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2.3.2.4 Infrastructure
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2.3.2.5 Others
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Saudi Arabia Industrial Coatings Market Size FAQs
What is the current Saudi Arabia Industrial Coatings Market size?
The Saudi Arabia Industrial Coatings Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Saudi Arabia Industrial Coatings Market?
National Paints Factories Co. Ltd, Al-Jazeera Paints., AkzoNobel N.V., PPG Industries, Inc. and Jotun are the major companies operating in the Saudi Arabia Industrial Coatings Market.
