Report Overview

Rapid urbanization, infrastructure development, rising construction activities, increasing investments in the real estate sector, and the expansion of the industrial sector, particularly in sectors such as automotive, oil and gas, and manufacturing are propelling the growth of the Saudi Arabia Paint and Coating Market during the forecast period between 2023 and 2029.

Saudi Arabia Paint and Coating Market – Trends & Forecast Report, 2029

Saudi Arabia paint and coating market size was estimated at USD 1254.23 million in 2022. During the forecast period between 2023 and 2029, the size of Saudi Arabia paint and coating market is projected to grow at a CAGR of 3.65% reaching a value of USD 1599.95 million by 2029. The major factor driving the growth of Saudi Arabia paint and coating market is a growing demand for eco-friendly and sustainable coatings, driven by increasing environmental awareness and regulations. Manufacturers are investing in research and development to create low-VOC (volatile organic compound) and water-based coatings to meet these demands. Another trend is the rising construction and infrastructure activities, which have fueled the demand for decorative and protective coatings. Also, there is a growing preference for advanced coatings with enhanced durability, weather resistance, and self-cleaning properties. The market has also witnessed increased adoption of powder coatings in various industries. Overall, the Saudi Arabia paint and coating market is experiencing a shift towards more sustainable and high-performance solutions.

Saudi Arabia Paint and Coating Market - Overview

Paints and coatings serve a dual purpose of adorning and safeguarding various structures, including buildings, cars, appliances, and machinery. The realm of decorative paints and coatings relies significantly on the construction industry's performance, whereas protective paints and coatings are closely tied to automobiles, major appliances, and industrial equipment. Within the domain of architectural coatings, there is a range of products such as indoor and outdoor house paints, primers, sealers, varnishes, and stains. These are made available to contractors, the general public, and large commercial accounts through retail and wholesale outlets, as well as through direct sales. On the other hand, industrial coatings encompass automotive paints, can coatings, coil coatings, furniture finishes, and road-marking paints, primarily distributed directly to end users.

Growth Drivers

Expanding Infrastructure and Booming Construction Sector

In Saudi Arabia, the paint and coating market is being driven by a multitude of factors, with the expanding infrastructure and thriving construction sector taking the forefront. As the nation invests heavily in large-scale infrastructure projects, including transportation, housing, and commercial developments, the demand for paints and coatings has surged. Also, the government's Vision 2030 initiative, which aims to diversify the economy and promote tourism, has further fueled construction activities, thereby boosting the market. Furthermore, the increasing focus on sustainable and eco-friendly coatings, coupled with rising consumer awareness regarding aesthetics and protection, has created a conducive environment for the growth of the paint and coating industry in Saudi Arabia.

Restraints

Fluctuating Raw Material Prices

Saudi Arabia paint and coating market faces several constraints, hampering its growth and development. Firstly, limited availability and fluctuating prices of raw materials, such as pigments and resins, pose challenges to manufacturers, impacting production costs and supply chain stability. Secondly, stringent environmental regulations and increasing consumer demand for eco-friendly and sustainable products require manufacturers to invest in research and development, adding additional costs and complexities. Thirdly, intense market competition from international brands and counterfeit products affects the profit margins of local manufacturers, affecting their market share and profitability. Overcoming these restraints will be crucial to unlock the full potential of Saudi Arabia's paint and coating industry.

COVID-19 Impact on the Saudi Arabia Paint and Coating Market

The COVID-19 pandemic adversely affected the Saudi Arabia paint and coating market, presenting a challenging landscape for the industry. The stringent lockdown measures, disrupted supply chains, and reduced construction activities affected the demand for paints and coatings. The market experienced a temporary halt in projects, leading to a decline in revenue and profitability for key players. However, as the country gradually recovers and restrictions ease, the market is poised for a slow but steady recovery. With increased vaccinations and the resumption of construction projects, the Saudi Arabia paint and coating market is expected to regain its momentum in the coming months, albeit with continued vigilance.

Saudi Arabia Paint and Coating Market

Segmental Coverage

Saudi Arabia Paint and Coating Market – By Resin type

On the basis of resin type, Saudi Arabia paint and coating market is divided into Acrylic, Alkyd, Polyurethane, Epoxy, and Polyester segments. Among the various segments of the Saudi Arabia Paint and Coating Market, Acrylic is the largest resin type segment in the market. Acrylic paints and coatings are widely used due to their versatility, durability, and excellent color retention properties. They are commonly utilized in architectural, automotive, and industrial applications. With their ability to adhere to various surfaces and provide a smooth finish, acrylic paints, and coatings have gained significant popularity in the Saudi Arabian market. The demand for acrylic paints and coatings is driven by the growing construction sector and increased industrial activities, making it the dominant segment in the country's paint and coating industry.

Saudi Arabia Paint and Coating Market – By Product Type

On the basis of product type, Saudi Arabia paint and coating market is divided into Decorative Paints & Coatings, Industrial Paints & Coatings segments. The industrial paints & coatings segment is a larger product type in the market. Industrial paints and coatings are specifically designed to protect and enhance surfaces in various industries, such as automotive, aerospace, oil and gas, and construction. The demand for industrial paints and coatings in Saudi Arabia is driven by rapid industrialization, infrastructure development, and increased manufacturing activities. This segment caters to a wide range of applications and offers specialized solutions to meet the unique requirements of industrial sectors, making it the largest segment in the Saudi Arabian paint and coating market.

Saudi Arabia Paint and Coating Market – By Technology

On the basis of technology, Saudi Arabia paint and coating market is divided into Water-based, Solvent-based, and Powder-based segments. The water-based segment is the largest contributor to the Saudi Arabia paint and coating market. Water-based paints and coatings have gained significant popularity due to their environmental friendliness, low VOC (volatile organic compound) content, and ease of application. They are widely used in residential, commercial, and industrial applications, contributing to their dominance in the Saudi Arabian market. However, it's important to note that the other segments, Solvent-based and Powder-based, also hold their market shares and cater to specific requirements of certain industries and applications.

Saudi Arabia Paint and Coating Market – By End-Use Industry

On the basis of end use industry, Saudi Arabia paint and coating market is divided into Architectural, Automotive, Protective Coatings Market, General Industrial, and Transportation segments. Among the segments in the Saudi Arabia paint and coating market, the largest one is the Architectural segment. This segment encompasses paints and coatings used in the construction industry, including residential and commercial buildings. With the rapid growth of the construction sector in Saudi Arabia, fueled by urbanization and infrastructure development, the demand for architectural paints and coatings has significantly increased. These coatings are used for decorative purposes as well as for protecting buildings from weathering, corrosion, and other environmental factors. The Architectural segment is expected to continue dominating the market due to ongoing construction projects and the need for high-quality, durable coatings in the country.

Competitive Landscape

Major players in the Saudi Arabia paint and coating market include Kansai Paints Co. Ltd, National Paints Factories Co., Ltd, Zamil Industrial Coatings, Protech Powder Coatings, Inc., Akzo Nobel N.V., Jotun A/S, The Sherwin-Williams Company, BASF SE, Jazeera Paints, and United Coating Industries. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2022
	Base Year – 2022
	Estimated Year – 2023
	Forecast Period – 2023–2029
Facts Covered	Revenue in USD Million
Market Coverage	Saudi Arabia
Product/ Service Segmentation	Resin Type, Product Type, Technology, End Use Industries.
Key Players	Kansai Paints Co. Ltd, National Paints Factories Co., Ltd, Zamil Industrial Coatings, Protech Powder Coatings, Inc., Akzo Nobel N.V., Jotun A/S, The Sherwin-Williams Company, BASF SE, Jazeera Paints, United Coating Industries

 

By Resin Type

• • Acrylic

  • Alkyd

  • Polyurethane

  • Epoxy

  • Polyester

By Product Type

• • Decorative Paints & Coatings

  • Industrial Paints & Coatings

By Technology

• • Water-based

  • Solvent-based

  • Powder-based

By End User Industry

• • Architectural

  • Automotive

  • Protective Coatings Market

  • General Industrial

  • Transportation

1. Research Framework
   1. Research Objective
   2. Resin Product Type Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Paint and Coating Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing demand from the architecture industry
         2. Growth and expansion of the construction industry
         3. Increasing implementation of favorable government policies
      2. Restraints
         1. Volatility in raw material prices
         2. Limited adoption of advanced coating technologies
      3.  Opportunities
         1. Industrial expansion and diversification
         2. Surging green building initiatives
      4. Challenges
         1. Intense market competition
         2. High dependence on the oil sector
   3.  Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Paint and Coating Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Resin Type
         1. Acrylic
         2. Alkyd
         3. Polyurethane
         4. Epoxy
         5. Polyester
         6. Other
      2. By Product Type
         1. Decorative Paints & Coatings
         2. Industrial Paints & Coatings
      3. By Technology
         1. Water-based
         2. Solvent-based
         3. Powder-based
         4. Others
      4. By End User Industries
         1. Architectural
         2. Automotive
         3. Protective Coatings Market
         4. General Industrial
         5. Transportation
         6. Other
5. Competitive Landscape
   1. List of Key Players and Their Range
   2. Saudi Arabia Paint and Coating Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership)
6. Impact of Covid-19 on Saudi Arabia Paint and Coating Market Industry
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, SWOT Analysis)
   1. Kansai Paints Co. Ltd
   2. National Paints Factories Co., Ltd
   3. Zamil Industrial Coatings
   4. Protech Powder Coatings, Inc.
   5. Akzo Nobel N.V.
   6. Jotun A/S
   7. The Sherwin-Williams Company
   8. BASF SE
   9. Jazeera Paints
   10. United Coating Industries
   11. Other prominent players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents
   5. Assumption & Limitation

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       Saudi Arabia Paint and Coating Segmentation                                     

Figure 2       Saudi Arabia Paint and Coating Market Value Chain Analysis      

Figure 3       Company Market Share Analysis, 2022                            

Figure 4       Saudi Arabia Paint and Coating Market Size, By Value (USD Million), 2019–2029                                     

Figure 5       Saudi Arabia Paint and Coating Market Share, By Resin Type, By Value, 2019–2029

Figure 6       Saudi Arabia Paint and Coating Market Share, By Product Type, By Value, 2019–2029                             

Figure 7       Saudi Arabia Paint and Coating Market Share, By Technology, By Value, 2019–2029                                     

Figure 8       Saudi Arabia Paint and Coating Market Share, By End User Industries, By Value, 2019–2029                                                          

 

List of Tables      

 

Table 1        Saudi Arabia Paint and Coating Market Share, By Resin Type, By Value, 2019–2029

Table 2        Saudi Arabia Paint and Coating Market Share, By Product Type, By Value, 2019–2029                             

Table 3        Saudi Arabia Paint and Coating Market Share, By Technology, By Value, 2019–2029                                     

Table 4        Saudi Arabia Paint and Coating Market Share, By End User Industries, By Value, 2019–2029 

Table 5        Kansai Paints Co. Ltd Company Overview

Table 6        Kansai Paints Co. Ltd Financial Overview

Table 7        National Paints Factories Co., Ltd Company Overview

Table 8        National Paints Factories Co., Ltd Financial Overview

Table 9        Zamil Industrial Coatings Company Overview

Table 10      Zamil Industrial Coatings Financial Overview

Table 11      Protech Powder Coatings, Inc. Company Overview

Table 12      Protech Powder Coatings, Inc. Financial Overview

Table 13      Akzo Nobel N.V. Company Overview

Table 14      Akzo Nobel N.V. Financial Overview

Table 15      Jotun A/S Company Overview

Table 16      Jotun A/S Financial Overview

Table 17      The Sherwin-Williams Company - Company Overview

Table 18      The Sherwin-Williams Company Financial Overview

Table 19      BASF SE Company Overview

Table 20      BASF SE Financial Overview

Table 21      Jazeera Paints Company Overview

Table 22      Jazeera Paints Financial Overview

Table 23      United Coating Industries Company Overview

Table 24      United Coating Industries Financial Overview