Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Definition of Market/Industry:
Corrosion protective coatings is applied on the surface in order to prevent degradation from oxidation, chemical, and moisture. It create a barrier between the environmental factors and surface of the product that inhibit the corrosion of the surface. Zinc and titanium dioxide is commonly used for corrosion protective coatings. Acid proof lining provide resistance to chemical, mechanical, and thermal stresses. Moreover, acid proof linings are also used in the transition areas such as dry or wet and hot or cold.
The MENA Corrosion Protective Coatings & Acid Proof Lining market is estimated to be valued at US$ 2,445.5 million in 2021 and is expected to exhibit a CAGR of 5.1 % over the forecast period (2021-2028).
- January 1, 2020. Al Gurg Paints has signed an exclusive distribution agreement with Al Gurg Paints for their Viero brand in order to increase its presence in the UAE market. The agreement was signed by Stefano Deri, Export Director Cromology and Easa F. Al Gurg, Chief Executive Officer, Easa Saleh Al Gurg Commercial & Industrial Group.
- On 27 November 2020, DicoTech received the appreciation Letter for the Successful Completion of ORYX GTL Shutdown– 2020 on Fireproofing Scope
- In November 2019, Ashland launched two new foam control agents for the water-based industrial coatings market. Drewplus L- 3500 and L-3510 foam control agents are the new standard in controlling macro – and microfoam in high shear spray applied coatings, providing an excellent balance between activity and compatibility.
Figure 1. MENA Corrosion Protective Coatings & Acid Proof Lining Market Value (US$ Mn), by Country, 2020
Saudi Arabia held dominant position in the MENA Corrosion Protective Coatings & Acid Proof Lining market in 2020, accounting for 31.80% share in terms of volume, followed by U.A.E. and Qatar, respectively. Rising demand for protective coatings from the mining industry is expected to augment the market growth of the Saudi Arabia corrosion protective coatings & acid proof lining.
Growing focus of the government and consumer in the MENA region to promote non-oil industries is expected to serve as a major driver factor to the market of MENA corrosion protective coatings & acid proof lining. Growth in the major investment in the development of public infrastructure and manufacturing sectors by regional bodies for the growth of the economy is further projected to accelerate the market growth of the MENA corrosion protective coatings & acid proof lining.
Increasing steel production in the MENA region is expected to propel the market growth of the corrosion protective coatings & acid proof lining. According to the World Steel Association, the Middle East produced 38.5 Mt of crude steel in 2018, an increase of 11.7% in 2017. Iran produced 25.0 Mt in 2018, up 17.7% in 2017. Therefore, growth in steel production in the MENA region is projected to accelerate the market growth of the corrosion protective coatings & acid proof lining.
MENA Corrosion Protective Coatings & Acid Proof Lining Market Report Coverage
||Market Size in 2021:
||US$ 2,330.5 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 3,464.07 Mn
- Regions: United Arab Emirates (UAE), Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Iran, Iraq, Morocco, Egypt, Jordan
- By Product Type: Polymer Coatings, Rubber Lining Systems, and Acid Proof Lining
- By End-use: Marine, Transportation, Chemicals, Water Treatment, Mining, Oil & Gas, Power Generation, and Others
Hajjan Trading & Industrial Services Company Ltd. (HATCON), KCC Corrosion Control Co. Ltd., Al-sabaiea National Gen. Cont. & Gen. Trd. Co., Rezayat Protective Coating Company Ltd., Bahrain Rubber Company W.L.L., Anticorrosion Protective Systems L.L.C., Al Gurg Paints LLC., DicoTech Limited, REMA TIP TOP AG (TIP TOP Oberflächenschutz Elbe GmbH), General Industries Co. Ltd, and FABA Commercial Services W.L.L., Ashland
- Growing non-oil industries
- Increasing steel production
|Restraints & Challenges:
- Complications associated with the inventory management
- High dependency on import
Growing demand for industrial coatings due to the increasing number of manufacturing facilities is expected to open new avenues to the market of MENA corrosion protective coatings & acid proof lining. A growing number of manufacturing industries across the major MEA economies such as Israel, Iran, South Africa, Egypt, Nigeria, Saudi Arabia, Algeria, UAE, and Qatar as they contribute around 70% of regional GDP and a present large number of regional coatings market are expected to propel the market growth.
Growth in the chemical sector in the region is projected to provide lucrative growth opportunities to the market of MENA corrosion protective coatings & acid proof lining. According to the Hydrocarbon Engineering GCC chemical industry achieved a revenue of US$84.1 billion in 2018, with production capacity reaching 174.8 million t, signaling an increase of 2.8% in terms of contribution to the regional GDP. Oman’s chemical sector has the highest contribution to GDP among the GCC countries, with 5.1% in 2018.
Specialty coatings are gaining popularity for pipeline corrosion applications across various industries is expected to be a major trend in the market. Specialty coatings ensure the smooth and proper functioning of the operations across various industries. In MENA region where pipelines are highly exposed to harsh environments and adverse operating conditions, and thus maintenance of the pipeline is utmost importance in the region.
The corrosion protective coatings market in the MENA region is experiencing a swift shift from industry-defined products and pre-formulated and to customized and industry-specific product launches. This trend is highly prevalent in the oil & gas and petrochemicals industry. This ongoing trend is expected to foster market growth over the forecast period.
Figure 2. MENA Corrosion Protective Coatings & Acid Proof Lining Market Share, By Product Type, 2020
Key Takeaways of the Graph:
- The polymer coatings type held dominant position in the market and accounted for 65% share in the MENA Corrosion Protective Coatings & Acid Proof Lining market in 2020. The segment is expected to reach US$ 2251.64 million in 2028. Rising demand for polymer coatings from the mining industry is expected to augment the market growth of this segment.
High dependence on the import, challenges associated with the maintaining of the inventory, and high cost of the imports is projected to hamper the market growth of the corrosion protective coatings & acid proof lining. All these factors result in higher operational costs and lower return of investment.
Lack of manufacturing facility for the production of the corrosion coatings in the Middle East is expected to hinder the market growth of the corrosion protective coatings & acid proof lining. Most of the demand for corrosion protective coatings is met through import from North Africa regions have a large number of manufacturing facilities. This factor is expected to restrict market growth.
- Hajjan Trading & Industrial Services Company Ltd. (HATCON
- KCC Corrosion Control Co. Ltd.
- Al-sabaiea National Gen. Cont. & Gen. Trd. Co.
- Rezayat Protective Coating Company Ltd.
- Bahrain Rubber Company W.L.L.
- Anticorrosion Protective Systems L.L.C.
- Al Gurg Paints LLC.
- DicoTech Limited
- REMA TIP TOP AG (TIP TOP Oberflächenschutz Elbe GmbH)
- General Industries Co. Ltd
- FABA Commercial Services W.L.L.