Press Release

The Saudi Arabia Paint Additives Market Size Estimated to be Around USD131 Million in 2024

The Saudi Arabia Paint Additives Market size is estimated to grow at a CAGR of around 4.02% during the forecast period, i.e., 2024-30., cites MarkNtel Advisors in the recent research report. In 2024, the Saudi Arabian paint additives market size hovered around USD 131 million. The growth of the market can be accredited to the prevailing construction activities within the country. Jeddah and Sharjah are the prominent regions witnessing a growing paint demand from the Saudi Arabian real estate sector that is majorly contributing towards the adoption of increasing paints and paint additives. With increasing urbanization, the establishment of residential buildings is on the rise driven by consumers moving to new cities demanding residential infrastructure to live in. This has resulted in the builders and construction industrialists setting up various apartments, villas, and other residency buildings to include these exceeding consumers in the cities. The demand for decorative paints has been soaring from these end-user applications. Eventually, the manufacturers have been gradually expanding their paint production capacities which will boost the demand for paint additives.

With the increasing construction of residential buildings, the country has seen surging demand for construction materials such as paints, along with paint additives. Paint additives provide durability and resistance to harsh climatic conditions outdoors, thereby creating demand from manufacturers. Further, the increasing demand for different finishes and aesthetic textures from the consumer end propel the growth of the Saudi Arabia Paint Additives Market.

Also, increasing construction activities, a growing middle-class population, and the propelling purchasing power of consumers in the country have been creating demand for furniture and wooden artifacts for home decoration. The younger generation comprises a significant part of the Saudi Arabian population and with the trend of moving into new homes and apartments, there has been a gradual increase in demand for modern furniture options that reflect their lifestyles and tastes. Besides, the sudden inflow of expatriates along with the growth in the tourism sector has been further reinforcing the demand for quality furniture at a fast pace in the residential as well as hospitality sectors.

With the rise in demand, furniture manufacturing in the Kingdom has grown immensely. With the growing emphasis by furniture manufacturers on good-quality products up to international standards, the industry is actively adopting advanced paint and coating technologies. Therefore, paint additives play a key role in upgrading coating properties concerning adhesion, durability, wear, and scratch resistance characteristics for long-life designed furniture, further states the research report, “Saudi Arabia Paint Additives Market Analysis, 2024.”

Saudi Arabia Paint Additives Market Segmentation Analysis

Rheology Modifiers Segment to Hold Significant Market Share in Saudi Arabia Paint Additives Market

Based on the product, the market is further bifurcated into, Rheology Modifiers, Biocides, Anti-Foamers, Wetting & Dispersion Agents, and Others (Stabilizers, Levelling Agents, etc.). Out of all, the rheology modifiers segment accounts for a substantial market share in the overall Saudi Arabia Paint Additives Market. Its dominance is influenced by the growing requirements for durable and efficient paints in the construction sector that meet stringent performance under harsh environmental conditions. Rheology modifiers guarantee wielding control over the paint flow and application properties, which is important in environments of high temperature and humidity.

The right paint viscosity is ensured by these modifiers, and hence, smooth finishes are achieved without sagging on vertical surfaces, giving uniform paint coverage that can withstand the most extreme weather conditions in Saudi Arabia. Moreover, the rheological modifiers prevent the sedimentation of pigments through the storage and during the transportation of paints which further surges their adoption among end users.  These kinds of additives act as thickeners, and that is why they are widely used in the industrial, architectural, and automotive sectors, which help to increase their adoption in many industries. Therefore, rheology modifiers play an important role in the delivery of durability and aesthetics, which has escalated their adoption and is subsequently propelling their growth in the Saudi Arabia Paint Additives Market for use in residential and commercial building projects.

Water-Based Formulation to Boast Considerable Market Share in Saudi Arabia Paint Additives Market

Based on formulation, the market is segmented into Water-Based, Solvent-Based, Powder-Based, and Others (UV-curable, High-Solid, etc.). Among all, water-based is the major driving segment for the Saudi Arabia Paint Additives market due to its wide range of applications in furniture, plastic, automobile, wood, & printing ink industries. Water-based paint additives can dry quickly and are easy to apply, surging their adoption in different industries.

Further, these water-based paint additives do not emit any Volatile Organic Compounds and hazardous chemicals, which is surging their demand in the country. The zero or low-VOC content of the water-borne system is surging demand among the end users in the country driven by their sustainability goals and stringent emission reduction norms by the Saudi Arabian government. Furthermore, consumers in the country are quickly evolving towards paints that are safer for indoor use, particularly in homes and places such as schools and hospitals. Waterborne paints directly appeal to these preferences based on low odors and easy cleaning and, thus, experience growing demand by the consumer which raises their demand in the Saudi Arabia Paint Additives Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including AkzoNobel Saudi Arabia Ltd, Arkema SA, BASF SE, Sigma Coatings, The Sherwin Williams Company, BYK-Chemie GMBH, Cabot Specialty Chemicals Inc., Solvay Al Jubail, Jazeera Paints, and Protec Pvt Ltd, among others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?