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Saudi Arabia decorative paints market is
anticipated to register a robust CAGR during the forecast period. Saudi
Arabia, the largest economy in the Middle East region of Asia, is also the
region's largest market for paints and coatings. Strong construction and industrial
activity over the past three decades have made Saudi Arabia one of the most
attractive markets for domestic and foreign paint and coating manufacturers
operating in the country. The Kingdom of Saudi Arabia's paints and coatings
industry is estimated to be worth around USD 1.8 billion (as of the end of
2018) and has grown rapidly over the past few decades as high oil prices
boosted the national economy. Both the building and industrial sectors have
registered steady demand from construction and industrial activity in the
country. Saudi Arabia's paint and varnish industry, the largest in the Arab
world, is suffering from austerity measures aimed at lowering oil prices and a
huge budget deficit. The Kingdom of Saudi Arabia implemented significant oil
production cuts in 2019 as part of the OPEC+ deal. These have contributed to
lower GDP growth and slower growth in the consumption of paints and coatings.
Construction Industry driving the growth of
the Saudi Arabia Decorative Paints Market
The Riyadh region is also home to Qidiyah, the Saudi
capital's upcoming entertainment, sports, and cultural hub that includes theme
parks, arenas, outdoor activities, and motorsports. This project is based on
five main pillars: Sports & Wellness, Nature & Environment, Parks &
Attractions, Exercise & Mobility, and Arts & Culture. It is wholly
owned by the PIF and aims to enhance the Kingdom's status as a major tourist
destination. Construction of entertainment, sports, and cultural hubs started
in early 2018 with a total area of 334 square kilometers and a budget of USD
8 billion. The latest deal is USD 750 million joint venture between ALEC Saudi
Arabia Engineering & Contracts and Elseif Engineering Contracts to build
the kingdom's first water park, which is said to be the largest in the region.
Qiddiya Investment Company also signed a USD 1 billion contract to build Six
Flags Qiddiya, which will feature 28 rides and attractions across six theme
parks. Speed Park is home to his FIA Class 1 circuit for motorsports fans and
his fairway was planned by one of the best golf players ever, Jack Nicklaus,
and is accessible to both tip top and beginner players. Qiddiya also
includes luxury tent retreats, animal encounters, outdoor adventures and
exploration, multiple arts and culture centers, festival venues, and a
multiplex cinema. This will increase the demand for decorative paints in Saudi
Arabia. Therefore, the growth of the construction industry in Saudi Arabia is
expected to drive the growth of the decorative paints market in the country
during the forecast period.
Latest product inventions in Saudi Arabia Decorative
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The Saudi Arabia decorative paints market is segmented
on the basis of product type, type of paint, application, sales channel, end
user, and region. Based on product type, the market is divided into water based
and solvent based. Based on type of paint, the market is further bifurcated
into emulsion, enamel, distemper, primer, textures, and others. Based on
application, the market is divided into exterior and interior. Based on sales
channel, the market is further bifurcated into offline and online. Based on end
user, the market is further bifurcated into residential and non-residential.
Based on region, the market is bifurcated into Makkah, Riyadh, Eastern
Province, and the Rest of Saudi Arabia.
Major market players in the Saudi Arabia decorative
paints market are Saudi Paint Co Ltd., Jazeera Factory for Paints - Limited
Liability, Saudi BASF for Building Materials Co. Ltd., AkzoNobel Saudi Arabia
Ltd, Zamil Industrial Coatings (ZINDCO), Jotun Saudia Co. Ltd., Red Sea
Building Materials and Equipment Trading Company, Premier Paints Company Ltd.,
Hempel Paints (Saudi Arabia) W.L.L, and Kansai Paint Saudi LLC.
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
forecast, company share, growth factors, and trends
Type of Paint
Eastern Province, Rest of Saudi Arabia
Key companies profiled
Saudi Paint Co Ltd., Jazeera Factory for
Paints - Limited Liability, Saudi BASF for
Building Materials Co. Ltd., AkzoNobel Saudi Arabia Ltd, Zamil Industrial
Coatings (ZINDCO), Jotun Saudia Co. Ltd., Red Sea Building Materials and
Equipment Trading Company, Premier Paints Company Ltd., Hempel Paints (Saudi Arabia) W.L.L, Kansai Paint
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In this report, Saudi Arabia decorative paints market has been segmented
into the following categories, in addition to the industry trends which have
also been detailed below:
Company Profiles: Detailed analysis of the major companies present
in the Saudi Arabia decorative paints market.
With the given market data, TechSci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
The Saudi Arabia decorative paints market is an upcoming report to be
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(Note: The companies list can be customized based on the client
Decorative painting is a type of paint used to change the appearance of a surface, regardless of size or object. The purpose is to improve the appearance of existing substrates and, in some cases, to increase the strength and durability of applied coatings.
Emulsion is expected to be the leading segment in the Saudi Arabia decorative paints market due to its property of being less toxic, i.e., with minimum volatile organic compounds and color of the paint is not affected when it is exposed to water, making it easy to clean.
Growing infrastructure projects by the government to meet the targets of Saudi Vision 2030 leading to investments by national and foreign are the drivers of the Saudi Arabia decorative paints market.
Major players in the Saudi Arabia decorative paints market are Saudi Paint Co Ltd., Jazeera Factory for Paints - Limited Liability, Saudi BASF for Building Materials Co. Ltd., AkzoNobel Saudi Arabia Ltd, Zamil Industrial Coatings (ZINDCO), Jotun Saudia Co. Ltd., Red Sea Building Materials and Equipment Trading Company, Premier Paints Company Ltd., Hempel Paints (Saudi Arabia) W.L.L, and Kansai Paint Saudi LLC.
Saudi Arabia Decorative Paints Market to grow at an impressive CAGR through 2028
Saudi Arabia decorative paints market is expected to grow during the forecast period due to rise in government projects in Saudi Vision 2030.