Saudi Arabia Paint & Coating Market is Expected to Raise at a Promising c during the period 2020-2027 | Size, Share & Forecast Report

The Saudi Arabia Paint & Coating Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).

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The factors diving growth of the Saudi Arabia Paint & Coating Market includes increasing application of paint and coating in end-use industries such as Textile, Electronics and Petrochemicals, rapid growth in the travel and tourism industry, rising construction activities in residential areas and improvements in the living standards. For instance, the revenue generated by Travel and Tourism Industry across Saudi Arabia is estimated to reach USD 3,265 million by the end of 2022, growing at a CAGR of 7.90% over the forecast period (2022-2026), which will accelerate the Saudi Arabia Paint & Coating Market size in the approaching years. Moreover, growing adoption of nanotechnology, rising focus of manufacturers on launching environment friendly products, increasing number of smart cities across Saudi Arabia and rapid urbanization, are some of the additional factors supplementing the Saudi Arabia Paint & Coating Market Growth. In addition, the increasing investments by leading players on research and development, strategic partnerships between companies and growing disposable incomes, are further propelling the Saudi Arabia Paint & Coating Market share.

However, waterborne coating requires mor time as compared to solvent-borne coatings, which might hamper the market growth in the coming years.

The major players operating in the market are National Paints Factories Co. Ltd., Hempel A/S, The Sherwin-Williams Company, Jotun, Akzo Nobel N.V., Jazeera Paints, SIGMA PAINTS, BASF SE, Sak Coat and Kansai Paint Co.,Ltd., among others.

Based on Resin Type, the acrylic segment is predicted to capture the largest market share during the forecast period

Acrylic based coatings offer enhanced -performance finish with outstanding weather resistance, high-gloss colors and are used in outdoor applications, are propelling the segment's growth.

Based on Technology, the others segment is projected to grow at a significant CAGR over the forecast period

Ultraviolet (UV) and Electron beam (EB) based coatings offers enhanced shelf-life, abrasion resistance and are increasingly used in wire coating, wood coating, and floor finishing, are some of the factors pushing the segment's growth.

Based on End-Use, the Architectural segment is anticipated to expand at a remarkable CAGR during the forecast period

Increasing use of architectural coatings at exterior and interior walls at commercial, residential and institutional buildings along with growing demand for fireproof and waterproof coatings, are augmenting the segment's growth.

Market Segmentation

Segmentation by Resin Type

Acrylic
Alkyd
Polyurethane
Epoxy
Polyester
Other Resin Types

Segmentation by Technology

Waterborne Technology
Solvent-borne Technology
Powder Coating Technology
Others

Segmentation by End-Use

Architectural
General Industrial
Automotive OEM & Refinish
Packaging
Coil
Others

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