GCC PAINT & COATING MARKET FORECAST AND TRENDS ANALYSIS RESEARCH REPORT 2019-202
Posted by Nikita Manwar on October 1st, 2019
GMI Research has published a new study titled “Saudi Arabia Paint & Coating Market by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester and Other), By Technology (Water-borne, Solvent-borne, Radiation Cure and Other), By End User (Architectural, Automotive, Wood, Industrial Coatings, Transportation, Packaging and Others) – Opportunities & Forecast, 2019-2026”, which orates the future prospects set to strike the GCC Paint & Coating Market during the forecast period.
Paint and Coating Industry is creating huge potential in a previous couple of years because of the polished and improving construction drifts in the region which upgrades the aesthetic appearances of the outside of the metal segment, gear, dividers, or others. The paint and covering material is comprised of colors, dissolvable, tar, added substance, restoring specialist, and dispersant. Building/embellishing, modern wood coatings, protective coatings, marine coatings, car OEM coatings, car resurfaces, powder coatings, general mechanical coatings, and plastic coatings are the real classes of paint and covering market. Paint and covering used to ensure surfaces for rusting and scraped spot and aiding in metal surface strength upgrade. Saudi Arabia adopting The Society for Protective Coating standards and environmental regulations from the EPA/OSHA/REACH
Major factors such as decorative and architectural coatings of residential and commercial building, trends in industrial production, construction of numerous tourist attractions and infrastructure spending, rising foreign direct investment (FDI) levels, increasing residential demand due to healthy economic growth, increasing residential demand in the area are positively impacting the growth of the market. Increasing construction activity in Saudi Arabia will increase the demand for paint and coating during the forecast period. Moreover, Saudi Arabia’s Vision is to become the center for the global paints and coatings supply chain and to establish specialized industrial zones for paints and coatings are also anticipated to boost the market growth. However, price fluctuation may restraints market growth during the forecast period.
Saudi Arabia is foreseen to makes an incredible open door for paints and coatings market because of huge scale framework undertakings and substantial interest for private infrastructure development because of their active residential and commercial construction and fast urbanization. Saudi Arabia is focussing on the development of various vacation spots locales and recreation and accommodation development apart from oil and oil-related business exercises which positively affect the paints and coatings industry. Saudi Arabia and UAE spread almost 50% of the all-out interest for paint and covering in the GCC nations as development movement in these nations are expanding, particularly new private structures and business structures developments. The King Abdullah Economic City and Port is an immense land bundle on the coast devoted as a chemical industrial zone. Certain areas of this site have already been assigned to downstream housing applications like paints and coatings with new infrastructure planned.
Various notable players operating in the market, include Akzo Nobel NV, Al Jazeera Paints, BASF SE, United Coatings Industries, Kansai Paints, National Paints Factory Co. Ltd, Jotun A/S, RPM International Inc., PPG Industries Inc., The Hempel, among others.
Key questions answered in this research report:
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By End User
Leading market players
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About the AuthorNikita Manwar
Joined: September 10th, 2019
Articles Posted: 80
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