Middle East Anticorrosion Coatings Market Outlook | 2030
The Middle East anticorrosion coatings market size was valued at US$ 953.12 million in 2022 and is expected to reach US$ 1,470.49 million by 2030; it is estimated to register a CAGR of 5.6% from 2022 to 2030.
MARKET ANALYSIS
The Middle East anticorrosion coatings market is experiencing significant growth due to the increasing demand for corrosion protection in various industries such as oil and gas, petrochemicals, power generation, water and wastewater treatment, and marine. Corrosion is a major concern in the region due to the harsh environmental conditions, including high temperatures, humidity, and exposure to saltwater. The oil and gas industry is one of the major drivers of the anticorrosion coatings market in the Middle East. The region is home to some of the largest oil and gas reserves in the world, and the infrastructure required for exploration, production, refining, and transportation of oil and gas is prone to corrosion. Anticorrosion coatings are used to protect pipelines, storage tanks, offshore platforms, and other equipment from corrosion, thereby extending their service life and reducing maintenance costs. According to the National Iranian Oil Company, the country has ~158 billion barrels of crude oil reserves. According to data from Gachsaran Oil & Gas Production Company, the field, which has been in operation since 1930, currently produces 650,000 bpd (Barrel Per Day) of oil. Additionally, the Middle East anticorrosion coatings market size is likely to surge by 2030 owing to the growing demand for anticorrosion coatings from the automotive industry.
GROWTH DRIVERS AND CHALLENGES
Factors such as the strong presence of the oil and gas industry and the strong growth of the building & construction industry favor the Middle East anticorrosion coatings market growth. The Middle East region is experiencing rapid industrialization, particularly in sectors such as oil and gas, petrochemicals, power generation, and water and wastewater treatment. This increased industrial activity requires effective corrosion protection to ensure the longevity and reliability of infrastructure and equipment. Anticorrosion coatings are crucial in these industries to protect assets such as pipelines, storage tanks, reactors, and power plant components from corrosion caused by harsh environmental conditions, chemicals, and saltwater exposure.
In the oil and gas industry, for example, pipelines are subjected to corrosive substances such as crude oil, natural gas, and saltwater during transportation. Anticorrosion coatings are applied to these pipelines to prevent corrosion, maintain the integrity of the infrastructure, and ensure safe and efficient operations. Further, the Middle East is known for its extreme weather conditions, including high temperatures, humidity, and exposure to saltwater. These conditions accelerate the corrosion process, making effective anticorrosion coatings essential for protecting assets and minimizing maintenance costs. Additionally, the Middle East's proximity to the Arabian Gulf and the Red Sea exposes infrastructure and equipment to high levels of saltwater, which is highly corrosive. Without proper protection, assets such as pipelines, storage tanks, and power plant components can quickly deteriorate, leading to costly repairs or replacements.
Contributions and market initiatives of the RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV in Middle East are positively influencing the anticorrosion coatings market growth. However, there are various health and safety concerns regarding the anticorrosion coatings. Volatile organic compounds (VOCs) are found in anticorrosion coatings and paints. Their high vapor pressure allows molecules to evaporate into the surrounding air. As a result, humans in close proximity can inhale hazardous vapors or gases. Hazardous air pollutants, which can cause cancer and other serious health problems, are released into the atmosphere at the rate of millions of pounds per year, as per the Environmental Protection Agency’s Toxic Release Inventory.
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Middle East Anticorrosion Coatings Market: Strategic Insights
Market Size Value in US$ 953.12 million in 2022 Market Size Value by US$ 1,470.49 million by 2030 Growth rate CAGR of 5.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Middle East Anticorrosion Coatings Market: Strategic Insights
| Market Size Value in | US$ 953.12 million in 2022 |
| Market Size Value by | US$ 1,470.49 million by 2030 |
| Growth rate | CAGR of 5.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "Middle East Anticorrosion Coatings Market Analysis and Forecast to 2030" is a specialized and in-depth study focusing significantly on Middle East market trends and growth opportunities. The report aims to provide an overview of the Middle East market with detailed market segmentation on the basis of resin type, technology, end use, and country. The report provides key statistics on the use of anticorrosion coatingss across the region, along with their demand in major countries. In addition, the report provides a qualitative assessment of various factors affecting the anticorrosion coatings market performance in major countries. It also includes a comprehensive analysis of the leading players in the anticorrosion coatings market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, Middle East anticorrosion coatings market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of Middle East anticorrosion coatings market, which helps understand the entire supply chain and various factors influencing the market growth.
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SEGMENTAL ANALYSIS
Middle East anticorrosion coatings market is segmented on the basis of resin type, technology, and end use. Based on resin type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. The epoxy segment accounted for the largest Middle East anticorrosion coatings market share in 2022. Epoxy anticorrosion coatings, formulated with epoxy resins as their primary constituents, belong to the class of thermosetting polymers, imparting robustness and durability to the protective layer they create. Deployed across diverse industries such as oil & gas, maritime, automotive, and infrastructure, epoxy anticorrosion coatings serve as a frontline defense mechanism for metal surfaces. The application process involves the precise amalgamation of epoxy resins with curing agents, resulting in a chemically resistant and adhesive compound. Upon application, these coatings solidify into a tough, impermeable barrier that shields metal surfaces from corrosive agents, preventing oxidation and deterioration over extended periods.
Based on technology, the anticorrosion coatings market is segmented into solvent-borne, water-borne, and others. Solvent-borne anticorrosion coatings are sophisticated formulations engineered to provide robust protection against the detrimental effects of corrosion, particularly on metallic surfaces. These coatings employ organic solvents as carriers for a meticulously crafted blend of components, each contributing to the coating's effectiveness. The primary constituents include resins, which form the structural backbone of the coating; pigments that impart color and additional barrier properties; and corrosion inhibitors strategically integrated to thwart the corrosive process. The solvent component plays a pivotal role in the application process, allowing for ease of spreading and ensuring uniform coverage on the substrate. Upon application, the solvents facilitate the even distribution of the coating, penetrating surface irregularities and creating a seamless, protective film.
Based on end-use, the market is segmented into marine, oil and gas, power, automotive, building and construction, aerospace and defense, and others. The oil and gas segment accounted for the largest Middle East anticorrosion coatings market share in 2022. The utilization of anticorrosion coatings in the marine industry is imperative for preserving the structural integrity and longevity of vessels and marine structures subjected to harsh and corrosive marine environments.
Seawater, with its high salt content, poses a significant threat to metal components, making corrosion a pervasive challenge. To overcome this, anticorrosion coatings are applied to these components. These coatings are precisely formulated to withstand the corrosive effects of saltwater, moisture, and atmospheric conditions. In marine applications, anticorrosion coatings find extensive use on ship hulls, offshore platforms, pipelines, and other submerged or exposed metallic structures. The coatings act as protective barriers, preventing direct contact between corrosive elements and the metal surface. The implementation of anticorrosion coatings in the oil & gas industry is critical for safeguarding infrastructure and equipment from the corrosive challenges posed by harsh operating environments. Pipelines, storage tanks, drilling equipment, and various components in the oil & gas sector are constantly exposed to corrosive elements such as moisture, corrosive gases, and chemicals.
Anticorrosion Coatings Market – by Technology, 2022 and 2030
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REGIONAL ANALYSIS
The report provides a detailed overview of the Middle East anticorrosion coatings market with respect to major countries, including Saudi Arabia, UAE, Iran, Qatar, and the Rest of Middle East. Saudi Arabia accounted for the largest share of the Middle East anticorrosion coatings market and was valued at over US$ 200 million in 2022. Saudi Arabia marks the presence of oil & gas manufacturers and is a hub for mid-sized businesses operating in the region. The market in Iran is expected to reach over US$ 250 million by 2030. The market in UAE is expected to record a CAGR of ~6% from 2022 to 2030. The demand for high-performance coatings has escalated significantly in the Middle East as it is a global hub for oil & gas production. According to the National Iranian Oil Company, the country has ~158 billion barrels of crude oil reserves. According to data from Gachsaran Oil & Gas Production Company, the field, which has been in operation since 1930, currently produces 650,000 bpd (Barrel Per Day) of oil.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Co are among the prominent players profiled in the Middle East anticorrosion coatings market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The Middle East anticorrosion coatings market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Some initiatives taken by the key players operating in the anticorrosion coatings market are listed below:
- In September 2023, H.B. Fuller Company acquired the UK-based Sanglier Limited, one of Europe's largest manufacturers and fillers of sprayable industrial adhesives. The acquisition expands H.B. Fuller's innovation capabilities and product portfolio across the UK and Europe, particularly in Construction Adhesives and Engineering Adhesives businesses. The acquisition complements technologies acquired through Apollo and Fourny acquisitions and spray capabilities developed in the US. The team of nearly 60 employees will operate within H.B. Fuller's existing Construction Adhesives global business unit.
- In March 2023, The company launched the PPG ENVIROCRON Primeron primer powder portfolio, designed to provide high corrosion resistance for metal substrates including steel, hot-dip galvanized steel, metalized steel, and aluminum. The products are tested according to the corrosivity categories and approved by the QUALISTEELCOAT international quality label for coated steel. The products include ZINC coating, PRO coating, EDGE coating, and FLEX coating.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Resin Type, Technology, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The automotive industry is growing in the Middle East. In Saudi Arabia, the industry is undergoing a transformation with the establishment of local manufacturing plants and the introduction of electric vehicles. The automotive industry in Saudi Arabia is growing owing to the country’s Vision 2030 program and its ambitious goals for clean and autonomous mobility.
The major players operating in the Middle East anticorrosion coatings market are RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Co.
Various countries in the Middle East play a vital role in global oil production. Saudi Arabia, Iran, the UAE, and other oil-producing countries in the region comprise many of the largest oil producers. Presence of oil reserves plays a crucial role in the economic growth of different countries in the region, as most of their income depends on the oil industry.
Ans. Based on technology, the market is segmented into solvent-borne, water-borne, and others. In terms of revenue, the solvent-borne segment dominated the Middle East anticorrosion coatings market share in 2022. Solvent-borne anticorrosion coatings are sophisticated formulations engineered to provide robust protection against the detrimental effects of corrosion, particularly on metallic surfaces.
Based on resin type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. In the Middle East anticorrosion coatings market share analysis, the epoxy segment dominated the market in 2022. Epoxy anticorrosion coatings, formulated with epoxy resins as their primary constituents, belong to the class of thermosetting polymers, imparting robustness and durability to the protective layer they create.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East Anticorrosion Coatings Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Middle East Anticorrosion Coatings Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Strong Presence of Oil & Gas Industry
5.1.2 Strong Growth of Building & Construction Industry
5.2 Market Restraints
5.2.1 Safety and Health Concerns Regarding Anticorrosion Coatings
5.3 Market Opportunities
5.3.1 Growing Demand for Anticorrosion Coatings from Automotive Industry
5.4 Future Trends
5.4.1 Rising Preferences for Environment-Friendly and Bio-Based Anticorrosion Coatings
5.5 Impact Analysis
6. Anticorrosion Coatings Market – Middle East Market Analysis
6.1 Middle East Anticorrosion Coatings Market Revenue (US$ Million)
6.2 Middle East Anticorrosion Coatings Market Volume (Kilo Tons)
6.3 Middle East Anticorrosion Coatings Market Forecast and Analysis
7. Middle East Anticorrosion Coatings Market Analysis – Resin Type
7.1 Epoxy
7.1.1 Overview
7.1.2 Epoxy Market Revenue and Forecast to 2030 (US$ Million)
7.1.3 Epoxy Market Volume and Forecast to 2030 (Kilo Tons)
7.2 Polyurethane
7.2.1 Overview
7.2.2 Polyurethane Market Revenue and Forecast to 2030 (US$ Million)
7.2.3 Polyurethane Market Volume and Forecast to 2030 (Kilo Tons)
7.3 Acrylic
7.3.1 Overview
7.3.2 Acrylic Market Revenue and Forecast to 2030 (US$ Million)
7.3.3 Acrylic Market Volume and Forecast to 2030 (Kilo Tons)
7.4 Alkyd
7.4.1 Overview
7.4.2 Alkyd Market Revenue and Forecast to 2030 (US$ Million)
7.4.3 Alkyd Market Volume and Forecast to 2030 (Kilo Tons)
7.5 Vinyl Ester
7.5.1 Overview
7.5.2 Vinyl Ester Market Revenue and Forecast to 2030 (US$ Million)
7.5.3 Vinyl Ester Market Volume and Forecast to 2030 (Kilo Tons)
7.6 Others
7.6.1 Overview
7.6.2 Others Market Revenue and Forecast to 2030 (US$ Million)
7.6.3 Others Market Volume and Forecast to 2030 (Kilo Tons)
8. Middle East Anticorrosion Coatings Market Analysis – Technology
8.1 Solvent-Borne
8.1.1 Overview
8.1.2 Solvent-Borne Market Revenue and Forecast to 2030 (US$ Million)
8.2 Water-Borne
8.2.1 Overview
8.2.2 Water-Borne Market Revenue and Forecast to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East Anticorrosion Coatings Market Analysis – End Use
9.1 Marine
9.1.1 Overview
9.1.2 Marine Market Revenue and Forecast to 2030 (US$ Million)
9.2 Oil and Gas
9.2.1 Overview
9.2.2 Oil and Gas Market Revenue and Forecast to 2030 (US$ Million)
9.3 Power
9.3.1 Overview
9.3.2 Power Market Revenue and Forecast to 2030 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive Market Revenue and Forecast to 2030 (US$ Million)
9.5 Building and Construction
9.5.1 Overview
9.5.2 Building and Construction Market Revenue and Forecast to 2030 (US$ Million)
9.6 Aerospace and Defense
9.6.1 Overview
9.6.2 Aerospace and Defense Market Revenue and Forecast to 2030 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecast to 2030 (US$ Million)
10. Middle East Anticorrosion Coatings Market - Geographical Analysis
10.1 Middle East
10.1.1 Overview
10.1.2 Middle East Anticorrosion Coatings Market Revenue and Forecasts and Analysis - By Countries
10.1.2.1 Middle East Anticorrosion Coatings Market Breakdown by Country
10.1.2.2 Saudi Arabia Anticorrosion Coatings Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.3 Saudi Arabia Anticorrosion Coatings Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.2.3.1 Saudi Arabia Anticorrosion Coatings Market Breakdown by Resin Type
10.1.2.3.2 Saudi Arabia Anticorrosion Coatings Market Breakdown by Technology
10.1.2.3.3 Saudi Arabia Anticorrosion Coatings Market Breakdown by End Use
10.1.2.4 UAE Anticorrosion Coatings Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.5 UAE Anticorrosion Coatings Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.2.5.1 UAE Anticorrosion Coatings Market Breakdown by Resin Type
10.1.2.5.2 UAE Anticorrosion Coatings Market Breakdown by Technology
10.1.2.5.3 UAE Anticorrosion Coatings Market Breakdown by End Use
10.1.2.6 Iran Anticorrosion Coatings Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.7 Iran Anticorrosion Coatings Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.2.7.1 Iran Anticorrosion Coatings Market Breakdown by Resin Type
10.1.2.7.2 Iran Anticorrosion Coatings Market Breakdown by Technology
10.1.2.7.3 Iran Anticorrosion Coatings Market Breakdown by End Use
10.1.2.8 Qatar Anticorrosion Coatings Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.9 Qatar Anticorrosion Coatings Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.2.9.1 Qatar Anticorrosion Coatings Market Breakdown by Resin Type
10.1.2.9.2 Qatar Anticorrosion Coatings Market Breakdown by Technology
10.1.2.9.3 Qatar Anticorrosion Coatings Market Breakdown by End Use
10.1.2.10 Rest of Middle East Anticorrosion Coatings Market Revenue and Forecasts to 2030 (US$ Million)
10.1.2.11 Rest of Middle East Anticorrosion Coatings Market Volume and Forecasts to 2030 (Kilo Tons)
10.1.2.11.1 Rest of Middle East Anticorrosion Coatings Market Breakdown by Resin Type
10.1.2.11.2 Rest of Middle East Anticorrosion Coatings Market Breakdown by Technology
10.1.2.11.3 Rest of Middle East Anticorrosion Coatings Market Breakdown by End Use
11. Impact of COVID-19 Pandemic on Middle East Anticorrosion Coatings Market
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Merger and Acquisition
14. Company Profiles
14.1 RPM International Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 The Sherwin-Williams Co
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Akzo Nobel NV
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Jotun AS
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 PPG Industries Inc
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 3M Co
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 The Progressive Center Co for Construction Chemicals Ltd
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Nippon Paint Holdings Co Ltd
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 BASF SE
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 HB Fuller Co
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
List of Tables
Table 1. Middle East Anticorrosion Coatings Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Middle East Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Table 5. Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – Resin Type
Table 6. Middle East Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – Resin Type
Table 7. Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – Technology
Table 8. Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – End Use
Table 9. Saudi Arabia Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Resin Type
Table 10. Saudi Arabia Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – By Resin Type
Table 11. Saudi Arabia Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Technology
Table 12. Saudi Arabia Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By End Use
Table 13. UAE Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Resin Type
Table 14. UAE Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – By Resin Type
Table 15. UAE Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Technology
Table 16. UAE Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By End Use
Table 17. Iran Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Resin Type
Table 18. Iran Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – By Resin Type
Table 19. Iran Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Technology
Table 20. Iran Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By End Use
Table 21. Qatar Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Resin Type
Table 22. Qatar Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – By Resin Type
Table 23. Qatar Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Technology
Table 24. Qatar Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By End Use
Table 25. Rest of Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Resin Type
Table 26. Rest of Middle East Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons) – By Resin Type
Table 27. Rest of Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By Technology
Table 28. Rest of Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million) – By End Use
List of Figures
Figure 1. Middle East Anticorrosion Coatings Market Segmentation, By Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: Anticorrosion Coatings Market
Figure 4. Market Dynamics: Middle East Anticorrosion Coatings Market
Figure 5. Middle East Anticorrosion Coatings Market Impact Analysis of Drivers and Restraints
Figure 6. Middle East Anticorrosion Coatings Market Revenue (US$ Million), 2020 – 2030
Figure 7. Middle East Anticorrosion Coatings Market Volume (Kilo Tons), 2020 – 2030
Figure 8. Middle East Anticorrosion Coatings Market Share (%) – Resin Type, 2022 and 2030
Figure 9. Epoxy Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Epoxy Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 11. Polyurethane Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Polyurethane Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 13. Acrylic Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Acrylic Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 15. Alkyd Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Alkyd Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 17. Vinyl Ester Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Vinyl Ester Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 19. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 21. Middle East Anticorrosion Coatings Market Share (%) – Technology, 2022 and 2030
Figure 22. Solvent-Borne Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. Water-Borne Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. Middle East Anticorrosion Coatings Market Share (%) – End Use, 2022 and 2030
Figure 26. Marine Market Revenue and Forecasts To 2030 (US$ Million)
Figure 27. Oil and Gas Market Revenue and Forecasts To 2030 (US$ Million)
Figure 28. Power Market Revenue and Forecasts To 2030 (US$ Million)
Figure 29. Automotive Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Building and Construction Market Revenue and Forecasts To 2030 (US$ Million)
Figure 31. Aerospace and Defense Market Revenue and Forecasts To 2030 (US$ Million)
Figure 32. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 33. Middle East Anticorrosion Coatings Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 34. Saudi Arabia Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 35. Saudi Arabia Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 36. UAE Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 37. UAE Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 38. Iran Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 39. Iran Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 40. Qatar Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 41. Qatar Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 42. Rest of Middle East Anticorrosion Coatings Market Revenue and Forecasts To 2030 (US$ Million)
Figure 43. Rest of Middle East Anticorrosion Coatings Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 44. Heat Map Analysis by Key Players
Figure 45. Company Positioning & Concentration
The List of Companies - Middle East Anticorrosion Coatings Market
- RPM International Inc
- The Sherwin-Williams Co
- Akzo Nobel NV
- Jotun AS
- PPG Industries Inc
- 3M Co
- The Progressive Center Co for Construction Chemicals Ltd
- Nippon Paint Holdings Co Ltd
- BASF SE
- HB Fuller Co
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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