GCC Paints & Coatings Market: Industry Analysis and Opportunity Assessment 2018 - 2023 | Top Key Manufacturer’s - AkzoNobel NV, Al Jazeera Paints, BASF, Beckers Group, Caparol Paints, Gulf Paints, Hempel Paints, Jotun AS

Marketprognosis.com Publish a New Market Research Report On “GCC Paints & Coatings Market 2018 - 2023” which contains GCC key player’s survey information and forecast to 2023.

Overview of the GCC Paints & Coatings Market:

The GCC Paints & Coatings Market is estimated to register a growth rate of 4.04% during the forecast period (2018 - 2023). Saudi Arabia is estimated to lead the market, due to the ongoing growth in the industrial and architectural sectors in the country. Water-based coatings are expected to be the fastest-growing type, by technology.

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The GCC countries are known for their high-rise buildings and architecture. The regional market has witnessed rapid growth due to increase in the construction of hotels & restaurants, re-paints of old hotels and maintenance of architectural & decorative infrastructure (to attract tourists). The Saudi government has boosted infrastructure in key areas of transport, telecommunications, water, and agriculture, by allocating investments worth USD 44 billion in 2016. The Dubai Expo 2020, which is set to take place over a six-month period between October 2020 and April 2021, is estimated to attract more than 25 million tourists; this is expected to drive the market for paints & coatings in Dubai. Additionally, FIFA World-Cup in Qatar (2022) is anticipated to provide significant demand for paint and coating products in construction activities. Dubai is also focusing on other mega projects, such as the Al Maktoum International Airport expansion, whose current budget is estimated to be about USD 32 billion, and is planned to accommodate more than 200 million passengers/year. The other projects include, Dubai Holding/Emaar Properties and Dubai Creek Harbor, which is budgeted at USD 17.7 billion with a timeline of 30-year. These factors are expected to increase the construction output, which, in turn, is likely to increase the usage of paints and coatings.

The VOCs released from solvent-borne coatings is the core reason for the manufacturers switching to water-borne coatings. Also, other properties, like low odor, more durability, and more block resistance make water-borne coatings more preferable. There are many regulations from several governments, which support water-based coatings. These are usually used in several applications, which include transportation, building & construction, and industrial applications. In recent times there has been a propensity to seek coatings with high usability, and water clean-up characteristics among the users. Water-borne coatings meet the requirements and facilitate low viscosity as well, without the addition of low-molecular weight monomers.

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Saudi Arabia, an oil-rich country, has an emerging economy that had slowed down in 2017, over 2016, due to low crude oil prices and the country’s regulatory policy. The country has generated large-scale projects worth USD 800 billion to boost its infrastructure in the coming years. The government has expansive plans for the development of social infrastructure, transportation, and energy & utility construction in the country. The country’s primary growth in construction has been largely powered by the massive investments done by the government and increased inflow of FDI. Some of the major construction projects are: Junail II, Makkah Grand Mosque Redevelopment, Jeddah and Riyadh Metro, King Abdullah Port Expansion, The Kingdom Tower (Jeddah), King Abdullah Economics City of Rabigh, etc. Saudi Arabia is focusing on establishing itself as the automotive hub in the GCC region.

Major Key Players:

1 AkzoNobel N.V.

2 Al Jazeera Paints Co.

3 BASF Middle East LLC

4 Beckers Group

5 Berger Paints Emirates Ltd

6 Caparol Paints

7 Gulf Paints

8 Hempel Paints

9 Jotun AS

10 KANSAI PAINT CO.,LTD and More………….

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What Information does this report contain?

1 A detailed analysis of regulatory trends, drivers, industry pitfalls, challenges and growth opportunities for participants

2 Which are the leading market products, applications & regions and how will they perform by 2023?

3 What are the technologies & innovation trends, how will they evolve by 2023?

4 Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Paints & Coatings Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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This release was published on openPR.