The Middle East paints and coatings market is expected to grow at a CAGR of 4.7% during the forecast period 2022-32; Explore analytical data from Future Market Insights, Inc.

NEWARK, DE /ACCESSWIRE/October 20, 2022/ According to a study conducted by Future Market Insights on the paints and coatings market in the Middle East, the demand for paints and coatings to reach a valuation of US$7,447.9 million by the end of the forecast period. The market has been significantly influenced by certain macroeconomic and industrial factors including development of chemical industries, growth of construction sector, economic development, manufacturing sector, development of architectural sector, etc.

In oil and gas industry, paints and coatings industry helps in the protection of offshore and onshore platforms, in onshore plant, coating is used to protect piping, cladding, flowering Flare, the living quarter and the riser. The large industrial and protective coatings market created by the Middle Eastern oil and gas industry is particularly attractive to European, as well as North American and Japanese coatings manufacturers, as it requires global technical standards. In fact, its needs are even greater due to the region’s climate which requires resistance to high temperatures, UV rays and potential abrasion from sand and dust.

Marine paints and coatings are used on a wide range of vessels, including cargo vessels and business vessels. Marine Polyurethane paints and coatings are used in commercial and recreational designs as well as maritime designs, for example, large transportation stages, pipelines, oil rigs and storage areas. Growth in the marine industry is expected to drive the paints and coatings market in the Middle East.

In addition, in the architectural industry, individual houses and other construction projects, paints and coatings are widely used for interior and exterior applications. They are used to spruce up and protect the exterior of the home from UV rays, driving rain, and sweltering summer and winter temperatures (without fading, peeling, and cracking on the exterior).

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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 increased spending in residential construction markets , commercial and institutional. During the forecast period, all the above-mentioned elements are expected to drive the Middle East paints and coatings market in the architectural sector.

“Constantly growing demand from end-use industries, particularly construction, oil and gas pipelines, and automotive, is driving demand for paints and coatings in the Middle East,” an IMF analyst said.

Key Insights from Paints and Coatings Market Research

  • The Middle East paints and coatings market is estimated to witness a growth forecast of seven% magnitude on a value basis.
  • Saudi Arabia and Egypt should collectively hold 35% of the overall market share.
  • The paints and coatings market in Saudi Arabia is estimated to create an additional dollar opportunity of approximately US$759.2 million between 2022 and 2032 on the world market.
  • Acrylic resin type production is expected to account for approximately more than half of paints and coatings consumption in the Middle East region.

Competitive landscape

The paints and coatings market in the Middle East is estimated to be a consolidated market, where major players are expected to account for a key share of the market. Some of the major manufacturers include Jotun Paint, Sigma Paint, Al Jazeera Paint, SAK Coat., The PPG Group, Sherwin-Williams, Nippon Paint ME FZE, Asian Paints, Akzo Nobel, Middle East Paints Company, Global Paints FZC, Kansai Paints, Henkel Jebel Ali FZCO, BASF SE, Arkema Group, DuPont de Nemours, Inc.: Cabot Corporation, Fosroc are some of the paints and coatings manufacturers featured in the full version of the report.

The major players are focusing on increasing their production capacity to strengthen their market presence across the globe and gain traction in the market. Additionally, some key players are focusing on investing in the latest production of paint and coating products owing to a significant increase in demand from the architectural industry.

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For example, • On August 8, 2022, Jazeera Paints, the leading manufacturer of paints, colors and building solutions in the Middle East and North Africa opened its sixth showroom in Iraq. The new showroom is close to other cities such as Qaladze, Dukan, Chwar Qwrna, Sangasar and Hajiawa, and will also meet their needs for high quality paints and construction.

Market Segments Covered in Middle East Paints and Coatings Market Analysis

By type of resin:

  • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Polyester
  • Others

By technology:

  • waterborne
  • Solvent based
  • Powder coatings

By end use:

  • Architecture
  • Automotive and Transportation
  • Protective coating
  • Wood
  • Finishing
  • Coil coating
  • Packaging
  • Marine
  • General industrial

Contents

1. Summary

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 / Limits

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. USP/Product Features

4.3. Strategic promotional strategies

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Explore FMI’s extensive chemicals and materials coverage:

Elastomeric Coatings Market Size : Elastomeric coatings are expected to grow 7.3% annually in 2022, reaching a value of over US$6,810.5 million by the end of the year. A growth rate of 7.6% is forecast for the global economy between the years 2022 and 2029.

Medical Grade Coatings Market Demand : Due to the essential function that medical-grade coatings play in a variety of tools, medical devices, and equipment used in surgeries and other medical procedures, the global market for such coatings is expected to grow significantly between 2021 and 2031. .

Coil Coatings Market Analysis: Sales in the global coil coatings market are expected to reach US$5.0 billion in 2022. Growing at a healthy CAGR of 4.7%, the market size is expected to reach US$6.8 billion. here 2029.

Market trends for advanced aerospace coatings in Europe : For the period 2018 to 2028, the report includes in-depth information about market trends, value (M$ US) and volume (‘000 Li), competition, current developments and dynamics of the European coatings market advanced aerospace.

BRIC Performance Coatings Market Opportunity : Performance coatings are varnishes that improve the performance of surfaces and are insensitive to abrasion, corrosion and high temperatures. A performance coating is a cost effective solution to give a product attractive and durable finishes.

Wood Coatings Market Outlook : The wood coatings market is expected to gain modest strength with a CAGR of 5.9% during the period 2022-2032. Strict regulations, increased competition, increase in unique formulations, and new product advancements are some of the reasons for the growth of the wood coatings industry.

Market value of waterproof coatings : Making an item virtually impenetrable to water is known as waterproofing. When certain circumstances are met, waterproof coatings help items avoid water damage and prevent water seepage. These items can be used in wet environments and at specific depths underwater.

Growth rate of the PU coatings market : Polyisocyanates like MDI and TDI react with polyols (polyester, polyether polyols) to create polyurethanes. For PU coatings, the polyols are first processed into base coatings and then combined with a crosslinking agent for polyisocynates before processing, creating a two-component system. The crosslinking agent chosen and the polyol used in manufacture can alter the characteristics of the coatings.

Coating Aids Market Share : In order to provide a smooth manufacturing flow, coating aids are used to support and optimize the application of coatings and release agents. This category includes a variety of products including primers, cleaners, mold cleaners, wiping fillers and dilutions, and cleaners.

Coating Additives Market Outlook : Coating Additives Market was estimated at USD 10,613.3 Million in 2021 and is projected to reach USD 17,724.8 Million by 2032. Between 2022 and 2032, sales in the global Coating Devices Market are expected to increase at a CAGR of 4.8%.

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