IRL Releases Updated Report on Middle East Coatings Industry
LONDON - IRL has released a new edition of its regional title, A Profile of the Middle East Paint Industry. The updated report provides market data for 2013 and forecasts for 2018, and gives an overview of coatings industry trends across 16 countries in the region.
The total market for paints and coatings in the Middle East was over 2.09 million tonnes in 2013 and is forecast to rise to more than 2.5 million tonnes by 2018. This is equivalent to an average annual growth rate of 3.6%.
On a country-by-country basis, Saudi Arabia is by far the largest national market, accounting for nearly half of the total demand for coatings in the Middle East. The fastest-growing countries are Oman, Qatar and Kuwait. The construction activity in these countries is increasing, having a positive effect on the coatings industry.
Architectural and decorative coatings for consumer and professional uses account for around 75% of the total market, although this proportion varies from country to country. Growth in the protective coatings segment is being boosted by developments in the oil and gas sector and also infrastructural investments. The powder segment is forecast to be the fastest-growing segment over the medium term. This technology is still relatively new to the Middle East, and more companies are gradually opening local production facilities in order to cater to the regional demand.
A Profile of the Middle East Paint Industry gives an insight into the market changes in the past few years, as well as outlining the key trends affecting the decorative and industrial coatings segments for each individual country covered. The scope of the study covers Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, the UAE and Yemen. It provides 2013 market data on nine mainstream coatings segments: architectural/decorative, industrial wood coatings, protective coatings, marine coatings, automotive OEM coatings, automotive refinishes, powder coatings, general industrial coatings and plastic coatings. Forecasts on these are also presented for the year 2018.
For additional information about the report, visit www.informationresearch.co.uk.