FMI has estimated the Middle East Paints and Coating market to reach a valuation of US$ 4,690.2 Million in 2022. Sales prospects in the paints and coating are expected to witness a steady growth outlook of a magnitude of 4.7% and are expected to top a valuation of US$ 7,447.9 Million by 2032. Significant growth in the demand for acrylic resin types from the architectural and construction sectors are key driving factors in the market.
| Attributes | Details |
|---|---|
| paints and coating Sales (2021A) | US$ 4,485.0 Million |
| paints and coating Demand (2022E) | US$ 4,690.2 Million |
| paints and coating Market Projections (2032F) | US$ 7,447.9 Million |
| Value CAGR (2022 to 2032) | 4.7% |
| Collective Value Share: Top 3 Countries (2022E) | 35.2% |
An increase in the demand for paints and coating from the marine industry is also fueling the market growth in the middle eastern region. Saudi Arabia remains a prominent country in the consumption and production volume of paints and coating
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The paints and coating market witnessed a CAGR of 1.3% over the historical period of 2017 to 2021. The novel Covid-19 affects this market as well. As a disruption of the supply chain, a ban on import and export has a significant impact on raw material suppliers and distributors. Due to covid-19, many end-use industries are affected such as oil and gas, construction, and automotive which directly impact the paints and coating market.
Demand for paints and coatings has been consistently growing owing to the consistent growth in end-use industries. Based on the current estimations, the market for paints and coating is to witness a growth outlook of about 4.7% over the period of 2022 and 2032. Technological advancement in several paint and coating sectors is increasing the endurance of coatings. Long-term performance delivery without cost increment is a challenge, yet to be addressed to full scale.
Consumers today demand products that last a long time and maintain their quality, which fuels the need for more durable coatings and shapes technological advancements. The application and environmental factors it is required to operate in have a significant impact on the coating's endurance.
As a result, color and gloss retention as well as resistance to weathering are frequently used to gauge durability for external coating applications and are key marketing tools for growth.
On the back of a balancing scenario between the demand and supply of crude oil, its prices are recovering, attracting Middle Eastern oil & gas companies to increase their production.
In the Oil & Gas industry, the paints and coatings industry helps in the protection of offshore and onshore rigs, in the onshore plant coating is used to protect Pipework, Jacket, Flare bloom, Living quarter, and Riser.
The large Industrial & protective coatings market being created by the Middle Eastern oil and gas industry is particularly attractive to European, as well as North American and Japanese, coatings manufacturers because it requires global technical standards. In fact, its needs are even tougher because of the region's climate which necessitates resistance against hot temperatures, UV rays, and potential abrasion from sand and dust.
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Today, we live surrounded by smart technology, from TVs to garage door openers. With the use of conductive paint, a wall may now be transformed into a smart device. The term smart house has lately taken on a whole new meaning to a paint that researchers recently developed that can transform any wall into a touchscreen.
This paint contains a conductive nickel grid that forms electrodes on the wall. The wall can thus function as an electromagnetic sensor, or touchscreen, tracking the position, spotting things, and responding to gesture commands. All smart gadgets can be controlled from the wall when this technology is made commercially available.
Potentially, the walls might act as a control interface for home equipment, making smart homes less intrusive, more affordable, and more efficient than they are now. This innovation will be expected to create a lucrative opportunity for the paints and coating industry in the forecast period.
The paints & coating industry is one of the most regulated industries in the world. Manufacturers have been forced to adopt low-solvent technology for the past 40 years and will continue to do so. One of the biggest challenges is that there are strict environmental regulations because volatile organic compounds (VOCs) are present in almost all paints and coatings. Reducing VOC content, replacing it, and ensuring consistent performance is a constant challenge for the industry.
In particular, environmental regulations on the use of non-degradable substances and chemically treated products are strengthened due to the generation of hazardous substances used near the human body. Manufacturers are under pressure to comply with the new regulations by changing raw materials or their composition, manufacturing processes, or switching to greener materials, including biopolymers, which sometimes affect their operating margins.
In addition, the supply of certain raw materials may be restricted by regulations in one or more regions through which the chain passes. All these factors could create an imbalance of supply to meet consumer demand, limiting the growth of the paints and coatings market to some extent.
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The largest national market in the Middle East is Saudi Arabia, which supplies about half of the region's demand for paints and coatings. The country has announced a comprehensive reform strategy as part of its Vision 2030, which the International Monetary Fund (IMF) claims will likely lead to robust growth over the medium term once fundamental improvements are finished.
Substantial growth in the construction and architectural sector and developing mega projects, the Red Sea Project, and the Qiddiya entertainment city all these development in country are expected to boost the sales of paints and coatings in Saudi Arabia.
The Paints and Coating market in Kuwait is expected to reach about US$ 476.4 Million by end of the forecast per. Kuwait is home to some of the most exquisite buildings in the entire world, many of which feature classical façades.
With Kuwait Vision 2035 in mind, it is more important than ever to create environmentally friendly, sustainable structures with high-performing, energy-efficient façades. Modern façades that are secure, long-lasting, and cutting-edge in terms of appearance, technology, thermal efficiency, and acoustics are highly valued. The growing mega projects and increasing construction sector is expected to benefit the consumption of paints and coatings in the country.
Marine paints and coatings are utilized on a wide range of vessels, including freight and business ships. Marine polyurethane paints and coatings are utilized in business and recreation creates as well as on seaward designs, for example, big hauler stages, pipelines, oil apparatuses, and storage spaces.
The marine paints and coatings have hostile to erosion and fouling properties. They likewise give different benefits, like magnificent oil and synthetic obstruction, protection from yellowing and corruption by daylight, water opposition, and scraped spot obstruction.
The anti-fouling coating gives the equipment a long-lasting, tin-free coating that makes it robust and bright. This coating can be used on glass, steel, or wood and is effective in a variety of climates. It guards against corrosion and works best in freshwater and saltwater environments.
Some marine coating products are Akzo Nobel International Perfection Gloss, Hempel Ocean Performer 7110E, and Jotun Jotaguard 690. The expanded interest in paints and coatings in marine ventures is improving the development of the paints and coatings market.
The Architectural segment is the key segment for the paints and coating market in the middle east. In the architectural industry, household homes, and other construction projects, paints and coatings are widely employed for both interior and exterior applications. They are used to restyle and shield the exterior of the house from UV rays, soaking rain, and sweltering summer and winter temperatures (without fading, peeling away, and cracking the exteriors).
Middle Eastern countries are one of the fastest-growing markets for the construction industry due to the presence of fast-growing economies, which are witnessing increasing spending on residential, commercial as well as institutional construction markets.
According to data supplied by Global Data, an increase in urbanization projects will fuel growth in the Middle East's construction industry. Due to this as the construction sector increase, the demand for interior and exterior paints, as well as coatings, is increasing. During the forecast period, all of the aforementioned elements are anticipated to drive the Middle East paints and coatings market in the architectural sector.
Over the past few years, an increase in the number of expansion and acquisition activities has been witnessed owing to an increase in the demand for paints and coating. Several key market participants are increasing their product portfolio as well as the installed capacity to gain momentum by catering to the growing demand from the end-use industries. Further market players are also focusing on water-borne coating technology owing to the substantial development of the architectural and construction industry.
For Instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Kilo Tons for Volume |
| Key Countries Covered | Saudi Arabia, Qatar, Kuwait, United Arab Emirates(UAE), Egypt, Israel, Turkey, and the Rest of the Middle East |
| Key Segments Covered | Resin Type, End-USe, Technology, and Country |
| Key Companies Profiled | Jotun Paint; Sigma Paint; Al Jazeera Paint; SAK Coat.; The PPG Group; Sherwin-Williams; Nippon Paint ME FZE; Asian Paints; AkzoNobel; Middle East Paints Company; Global Paints FZC; Kansai Paints; Henkel Jebel Ali FZCO; BASF SE; Arkema Group; DuPont de Nemours, Inc.; Cabot Corporation; Fosroc |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available Upon Request |
The global market of paints and coating is estimated to reach a valuation of US$ 4,690.2 Million in 2022.
The Water-borne coating technology demand is anticipated to witness a growth rate of 4.6% over the forecast period of 2022 and 2032 in terms of value.
Architectural coating is estimated to be a key application of paints and coatings, and the segment is estimated to consume about 75 to 80% of the Middle East Paints and Coating consumption.
Key players in the Middle East Paints and Coating market are expected to account for about 50 to 65% of the overall market share.
The top countries driving the Middle East Paints and Coating demand are Saudi Arabia, United Arab Emirates(UAE), Kuwait, and Qatar
1. Executive Summary | Middle East Paints and Coating Market
1.1. Middle East Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
5.1. Historical Market Volume (Tons) Analysis, 2017 to 2021
5.2. Current and Future Market Volume (Tons) Projections, 2022 to 2032
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Country Pricing Analysis By Resin Resin Type
7. Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Global Chemical Industry Overview
8.1.2. Global Construction Spending Overview
8.1.3. Global Automotive Industry Overview
8.1.4. Middle East Oil Production
8.1.5. Other Macro-Economic Factors
8.2. Forecast Factors - Relevance & Impact
8.2.1. GDP Growth Forecast
8.2.2. Growing Purchasing Power of the Consumers
8.2.3. Construction Output Growth
8.2.4. Growth in O&G Infrastructure
8.2.5. Low Carbon Footprint
8.2.6. Stringent environmental regulations
8.2.7. Pricing Dynamics
8.2.8. Industrialization growth
8.3. Value Chain Analysis
8.3.1. Product Manufacturers
8.3.2. List of Suppliers/Distributors
8.3.3. List of Probable End-Uses
8.4. COVID-19 Crisis - Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. Technology Roadmap
8.7. Parent Market Overview
8.8. Key Regulations and Certifications
8.9. Middle East. Supply Demand Analysis
9. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Resin Type
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) and Volume Analysis By Resin Type, 2017 to 2021
9.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Resin Type, 2022 to 2032
9.3.1. Acrylic
9.3.1.1. Pure Acrylic
9.3.1.2. Styrene
9.3.1.3. Vinyl
9.3.2. Alkyd
9.3.3. Polyurethane
9.3.4. Epoxy
9.3.5. Polyester
9.3.6. Others
9.4. Market Attractiveness Analysis By Resin Type
10. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Technology
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Million) and Volume Analysis By Technology, 2017 to 2021
10.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Technology, 2022 to 2032
10.3.1. Water-borne
10.3.2. Solvent-borne
10.3.3. Powder Coatings
10.4. Market Attractiveness Analysis By Technology
11. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-Use
11.1. Introduction / Key Findings
11.2. Historical Market Size (US$ Million) and Volume Analysis By End-Use, 2017 to 2021
11.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By End-Use, 2022 to 2032
11.3.1. Architecture
11.3.1.1. Interior
11.3.1.2. Exterior
11.3.2. Automotive & Transportation
11.3.3. Protective Coating
11.3.4. Wood
11.3.5. Refinish
11.3.6. Coil Coating
11.3.7. Packaging
11.3.8. Marine
11.3.9. General Industrial
11.4. Market Attractiveness Analysis By End-Use
12. Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Country
12.1. Introduction
12.2. Historical Market Size (US$ Million) and Volume Analysis By Country, 2017 to 2021
12.3. Current Market Size (US$ Million) and Volume Analysis and Forecast By Country, 2022 to 2032
12.3.1. Saudi Arabia
12.3.2. Qatar
12.3.3. Kuwait
12.3.4. United Arab Emirates(UAE)
12.3.5. Egypt
12.3.6. Israel
12.3.7. Turkey
12.3.8. Rest of Middle East
12.4. Market Attractiveness Analysis By Country
13. Saudi Arabia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
13.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
13.3.1. By Resin Type
13.3.2. By Technology
13.3.3. By End-Use
13.4. Market Attractiveness Analysis
13.4.1. By Resin Type
13.4.2. By Technology
13.4.3. By End-Use
13.5. Drivers and Restraints - Impact Analysis
14. Oatar Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
14.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
14.3.1. By Resin Type
14.3.2. By Technology
14.3.3. By End-Use
14.4. Market Attractiveness Analysis
14.4.1. By Resin Type
14.4.2. By Technology
14.4.3. By End-Use
14.5. Drivers and Restraints - Impact Analysis
15. Kuwait Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
15.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032.
15.3.1. By Resin Type
15.3.2. By Technology
15.3.3. By End-Use
15.4. Market Attractiveness Analysis
15.4.1. By Resin Type
15.4.2. By Technology
15.4.3. By End-Use
15.5. Drivers and Restraints - Impact Analysis
16. United Arab Emirates(UAE) Market Analysis 2017 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
16.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
16.3.1. By Resin Type
16.3.2. By Technology
16.3.3. By End-Use
16.4. Market Attractiveness Analysis
16.4.1. By Resin Type
16.4.2. By Technology
16.4.3. By End-Use
16.5. Drivers and Restraints - Impact Analysis
17. Egypt Market Analysis 2017 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
17.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
17.3.1. By Resin Type
17.3.2. By Technology
17.3.3. By End-Use
17.4. Market Attractiveness Analysis
17.4.1. By Resin Type
17.4.2. By Technology
17.4.3. By End-Use
17.5. Drivers and Restraints - Impact Analysis
18. Israel Market Analysis 2017 to 2021 and Forecast 2022 to 2032
18.1. Introduction
18.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
18.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
18.3.1. By Resin Type
18.3.2. By Technology
18.3.3. By End-Use
18.4. Market Attractiveness Analysis
18.4.1. By Resin Type
18.4.2. By Technology
18.4.3. By End-Use
18.5. Drivers and Restraints - Impact Analysis
19. Turkey Market Analysis 2017 to 2021 and Forecast 2022 to 2032
19.1. Introduction
19.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
19.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
19.3.1. By Resin Type
19.3.2. By Technology
19.3.3. By End-Use
19.4. Market Attractiveness Analysis
19.4.1. By Resin Type
19.4.2. By Technology
19.4.3. By End-Use
19.5. Drivers and Restraints - Impact Analysis
20. Rest of Market Analysis 2017 to 2021 and Forecast 2022 to 2032
20.1. Introduction
20.2. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021
20.3. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032
20.3.1. By Resin Type
20.3.2. By Technology
20.3.3. By End-Use
20.4. Market Attractiveness Analysis
20.4.1. By Resin Type
20.4.2. By Technology
20.4.3. By End-Use
20.5. Drivers and Restraints - Impact Analysis
21. Market Structure Analysis
21.1. Market Analysis by Tier of Companies
21.2. Market Concentration
21.3. Market Share Analysis of Top Players
21.4. Market Presence Analysis
21.4.1. By Country Footprint of Players
22. Competition Analysis
22.1. Competition Dashboard
22.2. Competition Benchmarking
22.3. Competition Deep Dive
22.3.1. Jotun Paint
22.3.1.1. Overview
22.3.1.2. Product Portfolio
22.3.1.3. Profitability by Market Segments (Product/Channel/Country)
22.3.1.4. Sales Footprint
22.3.1.5. Strategy Overview
22.3.2. Sigma Paint
22.3.2.1. Overview
22.3.2.2. Product Portfolio
22.3.2.3. Profitability by Market Segments (Product/Channel/Country)
22.3.2.4. Sales Footprint
22.3.2.5. Strategy Overview
22.3.3. Al Jazeera Paint
22.3.3.1. Overview
22.3.3.2. Product Portfolio
22.3.3.3. Profitability by Market Segments (Product/Channel/Country)
22.3.3.4. Sales Footprint
22.3.3.5. Strategy Overview
22.3.4. SAK Coat.
22.3.4.1. Overview
22.3.4.2. Product Portfolio
22.3.4.3. Profitability by Market Segments (Product/Channel/Country)
22.3.4.4. Sales Footprint
22.3.4.5. Strategy Overview
22.3.5. The PPG Group
22.3.5.1. Overview
22.3.5.2. Product Portfolio
22.3.5.3. Profitability by Market Segments (Product/Channel/Country)
22.3.5.4. Sales Footprint
22.3.5.5. Strategy Overview
22.3.6. Sherwin-Williams
22.3.6.1. Overview
22.3.6.2. Product Portfolio
22.3.6.3. Profitability by Market Segments (Product/Channel/Country)
22.3.6.4. Sales Footprint
22.3.6.5. Strategy Overview
22.3.7. Nippon Paint ME FZE
22.3.7.1. Overview
22.3.7.2. Product Portfolio
22.3.7.3. Profitability by Market Segments (Product/Channel/Country)
22.3.7.4. Sales Footprint
22.3.7.5. Strategy Overview
22.3.8. Asian Paints
22.3.8.1. Overview
22.3.8.2. Product Portfolio
22.3.8.3. Profitability by Market Segments (Product/Channel/Country)
22.3.8.4. Sales Footprint
22.3.8.5. Strategy Overview
22.3.9. AkzoNobel
22.3.9.1. Overview
22.3.9.2. Product Portfolio
22.3.9.3. Profitability by Market Segments (Product/Channel/Country)
22.3.9.4. Sales Footprint
22.3.9.5. Strategy Overview
22.3.10. Middle East Paints Company
22.3.10.1. Overview
22.3.10.2. Product Portfolio
22.3.10.3. Profitability by Market Segments (Product/Channel/Country)
22.3.10.4. Sales Footprint
22.3.10.5. Strategy Overview
22.3.11. Global Paints FZC
22.3.11.1. Overview
22.3.11.2. Product Portfolio
22.3.11.3. Profitability by Market Segments (Product/Channel/Country)
22.3.11.4. Sales Footprint
22.3.11.5. Strategy Overview
22.3.12. Kansai Paints
22.3.12.1. Overview
22.3.12.2. Product Portfolio
22.3.12.3. Profitability by Market Segments (Product/Channel/Country)
22.3.12.4. Sales Footprint
22.3.12.5. Strategy Overview
22.3.13. Henkel Jebel Ali FZCO
22.3.13.1. Overview
22.3.13.2. Product Portfolio
22.3.13.3. Profitability by Market Segments (Product/Channel/Country)
22.3.13.4. Sales Footprint
22.3.13.5. Strategy Overview
22.3.14. BASF SE
22.3.14.1. Overview
22.3.14.2. Product Portfolio
22.3.14.3. Profitability by Market Segments (Product/Channel/Country)
22.3.14.4. Sales Footprint
22.3.14.5. Strategy Overview
22.3.15. Arkema Group
22.3.15.1. Overview
22.3.15.2. Product Portfolio
22.3.15.3. Profitability by Market Segments (Product/Channel/Country)
22.3.15.4. Sales Footprint
22.3.15.5. Strategy Overview
22.3.16. DuPont de Nemours, Inc.
22.3.16.1. Overview
22.3.16.2. Product Portfolio
22.3.16.3. Profitability by Market Segments (Product/Channel/Country)
22.3.16.4. Sales Footprint
22.3.16.5. Strategy Overview:
22.3.17. Cabot Corporation
22.3.17.1. Overview
22.3.17.2. Product Portfolio
22.3.17.3. Profitability by Market Segments (Product/Channel/Country)
22.3.17.4. Sales Footprint
22.3.17.5. Strategy Overview
22.3.18. Fosroc
22.3.18.1. Overview
22.3.18.2. Product Portfolio
22.3.18.3. Profitability by Market Segments (Product/Channel/Country)
22.3.18.4. Sales Footprint
22.3.18.5. Strategy Overview
23. Assumptions and Acronyms Used
24. Primary Survey Analysis
25. Research Methodology
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Middle East Paints and Coating Market
