A recent report published by
Infinium Global Research on the abrasion resistant coatings market provides an in-depth analysis of segments and sub-segments in the GCC as well as the regional
abrasion resistant coatings market. The study also highlights the impact of
drivers, restraints, and macro indicators on the GCC and regional abrasion
resistant coatings market over the short term as well as long term. The report
is a comprehensive presentation of trends, forecasts, and dollar values of the GCC
abrasion resistant coatings market. According to the report, the GCC abrasion
resistant coatings market is projected to grow at a significant CAGR over the
forecast period of 2022-2028.
In most working conditions, wear
is minimized by applying lubrication to improve surface mechanical properties.
However, oil or grease lubrication alone is insufficient to meet wear
resistance requirements in some situations. Abrasive resistant coatings may be
the only feasible option to protect the product surfaces. If operating
temperatures are incredibly high, extended operating time or environments such
as vacuum, radioactivity, and others are not suitable for lubricants; abrasive
resistant coatings provide a better option. An abrasive resistant coating is an
attractive means of resolving surface wear issues in such situations.
Furthermore, abrasive resistant coatings have strengthened mechanical
properties, such as hardness and toughness.
The GCC nations such as Saudi
Arabia, UAE, and others are well known for their well-developed oil & gas
industries. Many GCC nations earn most of their oil & gas industry revenue.
As oil & gas is the primary source of income for most countries in GCC
regions, the governments and private sectors are focusing on developing oil
& gas industries. Such growing oil & gas sector activities tend to
demand more abrasion resistance coatings to improve the quality of materials
used in the industry. Such increasing demand from oil & gas industries is
expected to drive the growth of the GCC region’s abrasion resistant coatings
market. Moreover, private investment participation in the Saudi Arabian region
is increasing, which could further boost the development of the
abrasion resistant coatings market in the GCC region. However, supply chain and
logistics challenges and strict regulations on imports in many GCC nations may
hinder the market’s growth over the forecast period. Furthermore, there are
many upcoming infrastructure projects in the GCC nations which could create
ample opportunities for the players in the market.
Geographically, Saudi Arabia is
anticipated to lead the abrasion resistance coatings market over the forecast
period. The growth of the market in Saudi Arabia is attributed to the growing
oil and gas sector, which has increased the demand for proactive coatings.
Furthermore, the oil & gas sector involves operations like drilling,
wellhead, and sub-sea equipment, and this equipment requires layers, especially
for heat & abrasion resistance and extended component life. Moreover, Saudi
Arabia has the second-largest oil reserves globally, which is 266 Billion
barrels; hence, the country has become the dominating oil & gas sector.
Additionally, Saudi Arabia is also growing its usage of Polyurethane resin,
benefiting the players of abrasion resistance coatings in the Saudi Arabian
market. In addition, due to increasing infrastructural activities in the
country, the demand for Polyurethane resin has risen. Because of such reasons,
Saudi Arabia has become a dominating region in the abrasion resistant coatings
market in the GCC region.
The report on the GCC abrasion
resistant coatings market covers segments such as type, and end-use. On the
basis of type, the sub-markets include metal, ceramic, and polymer. On the
basis of end-use, the sub-markets include oil and gas, marine, power
generation, transportation, and others.
The report provides profiles of
the companies in the market such as AkzoNobel N.V, National Paints Factories
Co. Ltd, Al-Jazeera Paints, PPG Industries, Inc., and Jotun.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the GCC abrasion resistant coatings market. Moreover, the study highlights
current market trends and provides forecasts for 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.