A recent report ongoing by
Infinium Global Research on the abrasion resistant coatings market provides an in-depth analysis of segments and sub-segments in the MENA as well as regional
abrasion resistant coatings market. The study also highlights the impact of drivers,
restraints, and macro indicators on the MENA 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 MENA
abrasion resistant coatings market. According to the report, the MENA abrasion
resistant coatings market is projected to grow at a significant CAGR over the
forecast period of 2022-2028.
Abrasion resistance coatings are
generally used in the power generation sector in wind turbine blades, concrete
cooling towers, valves, containment vessels, nuclear components, generators,
dam structures, and turbines. Abrasion resistance coatings are utilized to
reduce or completely eradicate the surface wear, primarily in application areas
unsuitable for lubricants. Hence, such layers are used mainly in the power
generation sector to protect against the adverse effects of weather conditions.
For instance, abrasion resistance coatings are used in the wind industry to
increase the operability of the blades by 20 years compared to traditional
paints and gel coats. Furthermore, abrasion resistance coatings improve UV
stability, minimize dirt pick up, and offer excellent abrasion resistance and
low reflectivity.
The MENA nations such as Saudi
Arabia, UAE, and others are well known for their well-developed oil & gas
industries. Many governments earn most of their oil & gas industry revenue
in the Middle East. As oil & gas is the primary source of income for most
countries in the Middle East, the governments and private sectors focus 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 MENA region’s
abrasion resistant coatings market. Moreover, private investment participation
in the Saudi Arabian region is increasing, further boosting the development of
the abrasion resistant coatings market in the MENA region. However, supply
chain and logistics challenges and strict regulations on imports in many MENA
nations may hinder the market’s growth over the forecast period. Furthermore,
there are many upcoming infrastructure projects in the MENA 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
MENA region.
The report on the MENA 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, 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 driving and restraining this market's growth. 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 MENA 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.