GCC Paints & Coatings Market to grow due to rise in Solvent-Based Paints
GCC Paints
& Coatings Market is expected to grow owing to increasing infrastructural
projects and creation of new cities throughout the forecast period.
According to
TechSci Research report, “GCC Paints & Coatings Market - By Region,
Competition Forecast & Opportunities, 2018-2028”, the GCC Paints &
Coatings Market is expected to register robust growth during the forecast
period, 2023-2028. Due to its distinctive ability to provide glossy and
beautiful finishes, which has boosted the industrial application of paints and
coatings in sectors including construction & buildings, automotive, energy
and power, the Paint and Coatings Market is expected to grow during the
forecast period.
Paint is a
liquid or latex material that can be applied to surfaces to color, protect, or
add texture. They are usually stored in liquid form. Colors are classified as
decorative, field applied, or industrial as part of the factory manufacturing
process. In general, the properties required for the paint are easy construction,
good flow of paint marks such as brush marks, continuous formation of a
protective film, high hiding power, fast drying, corrosion resistance, water
resistance, heat resistance, color stability to visible and ultraviolet light,
abrasion and scratch resistance, durability, flexibility, and easy maintenance.
Coatings can be applied by brushing, roller coating, dipping, dipping,
spraying, thermal spraying, electrostatic spraying, airless spraying,
electrophoresis, and powder coating. Paints can be made using pigments,
binders, extenders, solvents, and additives.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on the "GCC Paints & Coatings Market."
The GCC Paints
& Coatings Market is segmented into technology, resin, sales channel, end
user, and country. Based on technology, the market is bifurcated into water
based and solvent based. During the forecast period, Solvent-Based Paints is
expected to dominate the GCC Paints & Coatings Market. Solvent-based paints
are manufactured using peptizes that vaporize through a chemical reaction with
oxygen. Air surrounding solvent-borne coatings speeds up the reaction and
reduces drying time. Compared to water-based coatings, solvent-based coatings
are less sensitive to environmental conditions such as temperature and humidity
during the curing stage. This is a key advantage that makes solvent-based
coatings more attractive.
Growing
applications of solvent-based coatings for maintenance of doors, cabinets, and
furniture, metal doors and railings, industrial equipment, and steel structures
are driving the market for solvent-based coatings and paints. In the Middle
East, demand for solvent-based paints has stagnated due to the shift to
water-based paints. This change is primarily due to increased environmental
concerns that have led to government regulations favoring water-based paints
with lower VOC levels.
Based on
country, the market is bifurcated into Saudi Arabia, United Arab Emirates,
Qatar, Kuwait, Bahrain, Oman. During the forecast period, Saudi Arabia is
expected to dominate the GCC Paints & Coatings Market. Saudi Arabia is the
most active player in the construction industry in the Middle East. The
construction industry has been growing with the help of real estate development
projects, which have subsequently increased the demand for residential real
estate in the country. The entire construction industry in the region now
offers many opportunities for both construction companies and investors. This
growing construction industry in the region is expected to drive the paints and
coatings market in the coming years.
Key market
players in the GCC Paints & Coatings Market: -
- Akzo Nobel NV
- Jazeera Factory
for Paints
- BASF SE
- Berger Paints
Emirates Ltd
- Jotun U.A.E.
Ltd. (L.L.C.)
- Ritver Paints Manufacturing
L.L.C
- National Paints
Factories Co. Ltd
- Hempel A/S
- Wacker Chemie
AG
- Terraco UAE Ltd
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"GCC
Paints & Coatings Market is expected to grow at an impressive CAGR during
the forecast period as the region has numerous projects under its belt such as
Bahrain launching projects worth USD 30 billion during the year 2021 and Saudi
Arabia awarding construction projects worth USD 51 billion. Saudi Vision 2003,
Bahrain Vision 2040 and visions of other kingdoms are expected to boom the
paint and coating market in the GCC region.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“GCC Paints
& Coatings Market By Segmented By Technology (Water based, Solvent based),
By Resin (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others), By Sales
Channel (Direct, Indirect), By End Use (Architectural, Industrial,
Infrastructure), By
Country, Competition Forecast & Opportunities, 2018-2028” has evaluated
the future growth potential of GCC Paints & Coatings Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities GCC Paints & Coatings Market.
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