GCC Paints and Coatings Market Introduction and Overview
According to SPER Market Research, the GCC Paints and Coatings Market is estimated to reach USD 5.3 billion by 2033 with a CAGR of 2.75%.
The report includes an in-depth analysis of the GCC Paints and Coatings Market, including market size and trends, product mix, Applications, and supplier analysis. Paints and coatings are widely utilized in the automobile, construction, woodworking, and transportation industries. They have a large application in the building industry, as they safeguard structures from external damage. Furthermore, the product is utilized in a variety of applications, including the decoration of non-residential and residential buildings and infrastructures, as well as the automotive, maritime, and industrial wood industries.
- Ritver Paints & Coating opened a new manufacturing site in Dubai, UAE, in 2021, allowing the company to grow its coating products, particularly wood coatings, in the GCC region.
- In 2019, Axalta purchased Capital Paint LLC, a thermosetting powder coatings producer situated in the United Arab Emirates. As a result, the acquisition will allow the company to expand and deliver coatings products in emerging markets in the Gulf region.
Market Opportunities and Challenges
Opportunities: Technological Developments in the Paint and Coating Sector: Globalization, consumer interest, and socio-ecological concerns are some of the megatrends that have shaped the paint and coating sector. Businesses are moving toward the greatest technology available for paints and coatings in terms of both performance and environmental sustainability as globalization continues. Furthermore, the paint and coating industry's technological demands are being driven by the stability and dependability of raw materials as well as the desire for more environmentally friendly solutions.
For example, the paint industry in GCC nations like Saudi Arabia, the United Arab Emirates, and Bahrain has seen tremendous technological progress in recent years, resulting in the creation of novel and very effective paints and coatings. Extreme weather, pollution, durability requirements, moisture damage, washable paint, germ-killing paints, odor-eliminating paints, previewing color schemes prior to painting, 3D paint visualization, and eco-friendly paints are just a few of the issues that the building and construction industry has been able to overcome thanks to this. The need for paint and coatings in the GCC region is being further fueled by these causes.
Challenges:
Price volatility of raw materials: Manufacturers' profit margins may be impacted by changes in the cost of the raw materials used to make paints and coatings.
Environmentally Stricter rules: Businesses are finding it difficult to adhere to eco-friendly practices as a result of the GCC region's increasingly strict environmental rules.
Market Competitive Landscape
The market for GCC paints and coatings is largely consolidated, with the bulk of the market share concentrated among a few prominent competitors. Some of the market's leading players are Akzo Nobel N.V, National Paints Factory, Jotun A/S, Wacker Chemie AG, and Jazeera Paints, among others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Technology, By End-User Industry.
|
| Regions covered | Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Bahrain, Oman. |
| Companies Covered | Akzo Nobel NV, Jazeera Paints, BASF SE, Beckers Group, Asian Paints Berger, Caparol, Jotun, RPM International Inc, PPG Industries Inc, Terraco UAE Ltd, Thermalite Middle East, Wacker Chemie AG, National Paints Factories Co. Ltd, Hempel A/S, Premier Paints Company Limited (The Sherwin-Williams Company), Ritver Paints & Coatings. |
COVID-19 Impact on GCC Paints and Coatings Market
The market for paints and coatings in the GCC was significantly impacted by the COVID-19 outbreak. The temporary suspension of construction and automobile manufacturing during the lockdowns and restrictions resulted in a decrease in the demand for coatings. However, the market has showed indications of revival as a result of the gradual relaxation of limitations and the return of economic activity. The need for specialist coatings with antimicrobial qualities has also increased as a result of the greater emphasis on cleanliness and hygiene.
By Resin Type Insights
Acrylic resin has the greatest proportion of the GCC paints and coatings market in 2021. This is due to elements such as acrylic resin's high drying rate, anti-corrosive, anti-adhesive, flexibility, and resistant properties, which make it excellent for usage as paints and coatings. As a result, this type of resin is commonly utilized in architectural coatings for interior and exterior walls, panels, and other applications. The increasing number of infrastructure projects will boost demand for acrylic resin.
Key Target Audience:
- Construction and Infrastructure Companies
- Architects, Designers, and Interior Decorators
- Automotive and Transportation Sector
- Oil & Gas and Petrochemical Companies
- Government and Public Infrastructure
- Manufacturing and Industrial Equipment Companies
- Retailers and Distributors
- Real Estate and Facility Management Companies
- Educational and Healthcare Institutions
- Environmental and Sustainability-Focused Organizations
Our in-depth analysis of the GCC Paints and Coatings Market includes the following segments:
| By Resin Type: | Acrylic Alkyd Polyurethane Epoxy Polyester Other Resin Types |
| By Technology: | Water-borne Solvent-borne Radiation Cure Other Technologies |
| By End-User Industry: | Architectural Automotive Wood Industrial Coatings Transportation Packaging |
Key Topics Covered in the Report:
- GCC Paints and Coatings Market Size (FY’2024-FY’2033)
- Overview of GCC Paints and Coatings Market
- Segmentation of GCC Paints and Coatings Market By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others)
- Segmentation of GCC Paints and Coatings Market By Technology (Water-borne, Solvent-borne, Radiation Cure, and Others)
- Segmentation of GCC Paints and Coatings Market By End-User Industry (Architectural, Automotive, Wood, Industrial Coatings, Transportation, and Packaging)
- Statistical Snap of GCC Paints and Coatings Market
- Expansion Analysis of GCC Paints and Coatings Market
- Problems and Obstacles in GCC Paints and Coatings Market
- Competitive Landscape in the GCC Paints and Coatings Market
- Impact of COVID-19 and Demonetization on GCC Paints and Coatings Market
- Details on Current Investment in GCC Paints and Coatings Market
- Competitive Analysis of GCC Paints and Coatings Market
- Prominent Players in the GCC Paints and Coatings Market
- SWOT Analysis of GCC Paints and Coatings Market
- GCC Paints and Coatings Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the GCC Paints and Coatings Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. GCC Paints and Coatings Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in GCC Paints and Coatings Market
7. GCC Paints and Coatings Market, By Resin Type (USD Million) 2020-2033
7.1. GCC Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2020-2026
7.2. GCC Paints and Coatings Market Size, Share and Forecast, By Resin Type, 2027-2033
7.3. Acrylic
7.4. Alkyd
7.5. Polyurethane
7.6. Epoxy
7.7. Polyester
7.8. Other Resin Types
8. GCC Paints and Coatings Market, By Technology (USD Million) 2020-2033
8.1. GCC Paints and Coatings Market Size, Share and Forecast, By Technology, 2020-2026
8.2. GCC Paints and Coatings Market Size, Share and Forecast, By Technology, 2027-2033
8.3. Water-borne
8.4. Solvent-borne
8.5. Radiation Cure
8.6. Other Technologies
9. GCC Paints and Coatings Market, By End-User Industry (USD Million) 2020-2033
9.1. GCC Paints and Coatings Market Size, Share and Forecast, By End-User Industry, 2020-2026
9.2. GCC Paints and Coatings Market Size, Share and Forecast, By End-User Industry, 2027-2033
9.3. Architectural
9.4. Automotive
9.5. Wood
9.6. Industrial Coatings
9.7. Transportation
9.8. Packaging
10. GCC Paints and Coatings Market Forecast, 2020-2033 (USD Million)
10.1. GCC Paints and Coatings Market Size and Market Share
11. GCC Paints and Coatings Market, By Region, 2020-2033 (USD Million)
11.1. GCC Paints and Coatings Market Size and Market Share By Region (2020-2026)
11.2. GCC Paints and Coatings Market Size and Market Share By Region (2027-2033)
11.3. Saudi Arabia
11.4. Qatar
11.5. Kuwait
11.6. United Arab Emirates
11.7. Bahrain
11.8. Oman
12. Company Profile
12.1. Akzo Nobel NV
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Jazeera Paints
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. BASF SE
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Beckers Group
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Asian Paints Berger
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Caparol
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Jotun
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. RPM International Inc
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. PPG Industries Inc
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Terraco UAE Ltd
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Thermalite Middle East
12.11.1. Company details
12.11.2. Financial outlook
12.11.3. Product summary
12.11.4. Recent developments
12.12. Wacker Chemie AG
12.12.1. Company details
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. National Paints Factories Co. Ltd
12.13.1. Company details
12.13.2. Financial outlook
12.13.3. Product summary
12.13.4. Recent developments
12.14. Hempel A/S
12.14.1. Company details
12.14.2. Financial outlook
12.14.3. Product summary
12.14.4. Recent developments
12.15. Premier Paints Company Limited (The Sherwin-Williams Company)
12.15.1. Company details
12.15.2. Financial outlook
12.15.3. Product summary
12.15.4. Recent developments
12.16. Ritver Paints & Coatings
12.16.1. Company details
12.16.2. Financial outlook
12.16.3. Product summary
12.16.4. Recent developments
12.17. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links