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Durable Waterborne and Polyurethane Coating Technologies Represent Future Growth Potential
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This study presents an assessment of the current status of and prospects for the KSA paints and coatings market. It analyzes the volume shipment and revenue generated from paints and coatings from 2017 to 2025; revenues are recorded at the manufacturer level.Decorative paints include interior and exterior architectural coatings used in the residential and commercial segments, such as residential buildings, commercial complexes, warehouses, public spaces, hospitals, sports complexes, and educational establishments, but do not include wood and floor coatings. The paints are analyzed based on type of formulation technology used (waterborne and solvent-borne), sales channel used (retail and projects), and area of application (interior and exterior).Protective coatings include metallic and nonmetallic anticorrosion coatings used in industrial applications, such as oil and gas (O&G), water treatment, power generation, infrastructure, and general industrial maintenance. This study excludes floor coatings and fire protection/intumescent coatings used in the decorative paint segment. The coatings are analyzed based on the type of chemistry used (epoxy, alkyd, polyurethane, polyester, and others) and the area of application (oil and gas, power generation, water treatment, infrastructure, and others).KSA is one of the largest paints and coatings markets in the Middle East and the largest market in the Gulf Cooperation Council (GCC). The country’s huge population makes it the largest decorative paints market in the GCC while its large oil and gas industry makes it the largest protective coatings market in the region. Overall, the KSA’s oil and gas industry plays a key role in determining market growth.The market is highly competitive among global manufacturers and domestic producers. By establishing long-term relationships with project consultants, contractors, applicators, and other customers, manufacturers strive to provide customized products. Moreover, customers increasingly prefer paints and coatings with lower levels of volatile organic compounds (VOCs), such as high solids, solvent-borne coatings in the protective segment and waterborne coatings in the decorative segment. In addition, domestic decorative paint manufacturers are considering providing combined packages to customers that include paint application while domestic protective coating manufacturers are looking to gain more product certifications to find approval by customers in the oil and gas sector.
Key Issues Addressed
Author: Diya Menon
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