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(IT-NEWSWIRE.COM, July 11, 2019 ) Market Overview
The Saudi Arabian industrial coatings market is expected to witness a healthy growth, at an assessed CAGR of 3.52%, during the forecast period (2019-2024). The major factors driving the market studied are the increasing private investment participation in the Saudi Arabian region. The challenges in supply chain and logistics, and strict regulations on imports are expected to hinder the growth of the market studied.
- The growing oil and gas sector is expected to drive the demand for the market, during the forecast period.
- Upcoming infrastructure projects are projected to act as an opportunity for the market in the future.
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Key Market Trends
Increasing Private Investment Participation
- The Government of Saudi Arabia (KSA) has played a key role in increasing private investment participation.
- The government helps investors by providing them support during cross border trade, in order to access new markets; establishing cities or zones, which specialize in the manufacturing of coatings, and thus, maintaining high level of attractiveness to potential investors; facilitating the provision of joint benefit services and facilities; the creation of attractive, profitable, and tangible investment opportunities; and enhancing competition locally and internationally.
- Saudi Arabian companies are collaborating with various international market leaders, which is leading to an increase in their production base. Dow Chemicals became the first company to obtain trading license from the Government of Saudi Arabia, permitting full ownership in the trading sector.
Polyurethane Resins
- Polyurethane resins are thermosetting resins, which are produced by a reaction between polyalcohol and an organic di-isocyanate, which do not melt when heated.
- Polyurethane coatings are usually applied over primers and intermediate coats to provide a lustrous glossy finish, while maintaining resistivity and providing excellent performance against high levels of UV and other extreme weather conditions, in areas that are prone to high wear and resistivity toward a wide range of solvents.
- The demand for polyurethane-based coatings, during the forecast period, is expected to be augmented by the increasing infrastructural activities in the country. Moreover, they are seen as a potential substitute for epoxy resins.
Access this report of Industrial Coatings Market @ http://arcognizance.com/report/saudi-arabia-industrial-coatings-market-growth-trends-and-forecast-2019-2024
Competitive Landscape
The Saudi Arabian industrial coatings market is consolidated. Key players in the market include National Paints Factories Co. Ltd, Al-Jazeera Factory for Paints Co., AkzoNobel NV, PPG Industries (Sigma Paints), and Jotun AS.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
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Major Point of TOC:
Chapter One: INTRODUCTION
Chapter Two: RESEARCH METHODOLOGY
Chapter Three: EXECUTIVE SUMMARY
Chapter Four: MARKET DYNAMICS
Chapter Five: MARKET SEGMENTATION
Chapter Six: COMPETITIVE LANDSCAPE
Chapter Seven: MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand for Eco-friendly Products
7.2 Upcoming Infrastructure Projects to Boost the Demand
Request a sample of Industrial Coatings Market report @ http://www.arcognizance.com/enquiry-sample/381933
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