Saudi Arabia Industrial Coatings Market - Segmented by Type, Technology, and Resin Type - Growth, Trends, and Forecast (2018 - 2023)
The Saudi Arabia industrial coatings market is expected to witness a healthy growth at an assessed CAGR of 1.8% and 3.52%, by volume and revenue respectively, during the forecast period (2018 - 2023). The major factors driving the market studied are - increasing private investment participation in the Saudi Arabian region. The challenges in supply chain & logistics, and strict regulations on imports are expected to hinder the growth of the market studied.
Increasing Private Investment Participation
The Government of the Kingdom of Saudi Arabia (KSA) has played a key role in increasing private investment participation. The government helps investors by providing them -support during cross border trade, in order to access new markets; establishing cities or zones, which specialize in manufacturing of coatings, and hence, maintaining high level of attractiveness to potential investors; facilitating the provision of joint benefit services and facilities; the creation of attractive, profitable and tangible investment opportunities; and enhancing competition locally and internationally. Saudi Arabia Joint Ventures are collaborating with various international market leaders, which is leading to an increase in their production base Dow became the first company to obtain trading license from the Government of Saudi Arabia, permitting full ownership in the trading sector. In May 2017, the Dow Chemical Company finalized an agreement with Saudi Aramco’s JV partner in the Sadara Petrochemicals complex, to increase innovation and strategic agenda in the KSA. Based on the agreement, Dow has invested USD 100 million to construct manufacturing facility, to produce a range of polymers for coatings.
Polyurethane Resins to Witness High Demand
Polyurethane coatings are usually applied over primers and intermediate coats to provide a lustrous glossy finish, while maintaining resistivity and providing excellent performance against high levels of UV and other extreme weather conditions in areas that are prone to high wear and resistivity toward a wide range of solvents. The demand for polyurethane-based coatings during the forecast period is expected to be augmented by the increasing infrastructural activities in the country. Moreover, they are seen as a potential substitute for epoxy resins.
December 2016: Kansai acquired Helios Group, by buying 100% share of Helios Group from Ring International Holding AG and other shareholders
The major players include -National Paints Factories Co. Ltd, AkzoNobel, PPG Industries Inc., Al-Jazeera Factory for Paints Co., and Jotun A/S, among others.
Saudi Arabia Industrial Coatings Market Report Summary
Kansai acquired Helios Group, by buying 100% share of Helios Group from Ring International Holding AG and other shareholders.
National Paints Factories Co. Ltd, AkzoNobel, PPG Industries Inc., Al-Jazeera Factory for Paints Co., and Jotun A/S, among others.
Revenue forecast, market share analysis, technological snapshot, trends and market dynamics
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