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.
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