Middle East Wood Coatings Market - 2022-2029

Middle East Wood Coatings Market - 2022-2029

Market Overview

Wood coating is a type of finish applied to wood surfaces to protect the wood and give it a decorative appearance. Wood coatings can be applied to raw wood and previously finished surfaces and come in various types, including paints, stains, varnishes and lacquers. The type of wood coating chosen depends on the intended use, the desired appearance and the condition in which the wood is coated. Wood coatings are designed to provide a durable, attractive finish that will withstand the wear and tear of daily use and protect the wood from damage caused by moisture, UV light and other environmental factors.

Market Dynamics

There is growing awareness of the environmental impact of wood coatings in the Middle East and consumers are increasingly seeking eco-friendly alternatives. There is growing awareness of the environmental impact of wood coatings in the Middle East and consumers are increasingly seeking eco-friendly alternatives. The Middle East is witnessing strong economic growth, boosting consumer spending and driving demand for wood coatings for home renovation and improvement projects. As the population in the region becomes more urbanized, there is a greater demand for wood coatings in residential and commercial buildings.

Growing construction and housing activities in the region are driving the market growth

The construction industry in the Middle East is experiencing rapid growth, driving demand for wood coatings for use in residential, commercial and industrial buildings. The construction industry can significantly impact the wood coating market, as construction activities often involve using wood products that require coating for protection and decorative purposes. When there is a construction boom, as is currently the case in many parts of the Middle East, there is typically an increase in the demand for wood coatings as more wood is used in building projects. It can lead to an increase in the production of wood coatings and growth in the market. On the other hand, when the construction industry slows down, there may be a corresponding decrease in the demand for wood coatings, which can have a negative impact on the market.

Factors such as the limited availability of raw materials hamper the middle east wood coatings and restrain the market growth

Wood coatings compete with other materials, such as metals, plastics and composites, which may be perceived as more durable or easier to maintain. Wood coatings require a supply of raw materials such as wood, pigments and resins and the availability of these materials may be constrained by factors such as resource depletion and transportation challenges.

COVID-19 Impact Analysis

The COVID-19 pandemic has likely impacted the wood coatings market in the Middle East. However, the specific nature and extent of this impact may vary depending on the country and the specific sector of the market. The pandemic has had several knock-on effects that could potentially impact the demand for wood coatings, including:
• The COVID-19 pandemic has disrupted construction activities in many parts of the world, including the Middle East, which could decrease demand for wood coatings.
• The pandemic may also have changed customer behavior which could impact the demand for wood coatings. For example, people may spend more time at home and, therefore, may be more likely to undertake home improvement projects involving wood coatings.
• The pandemic has disrupted global supply chains, which could lead to a shortage of raw materials and other supplies needed for the production of wood coatings.

Segment Analysis

The Middle East wood coatings market is segmented based on resin, formulation and application.

Growing furniture application supports the Middle East wood coating market growth

The furniture industry is a major consumer of wood coatings in the Middle East and plays a significant role in supporting the growth of the wood coatings market in the region. Wood coatings are used on various furniture products, including tables, chairs, desks, cabinets and shelves, to protect the wood and give it a decorative appearance. The demand for furniture in the Middle East is driven by several factors, including population growth, urbanization and rising disposable incomes, which can lead to an increase in the demand for wood coatings. In addition, developing new, more advanced wood coating technologies, such as water-based and UV-cured coatings, can help support the market's growth by providing furniture manufacturers with more options for protecting and finishing their products. Furthermore, the furniture segment dominates the Middle East wood coatings market.

Competitive Landscape

The products and services offered by the competitors in the Middle East wood coatings market have superior qualities. Manufacturers are taking several strategic decisions in the Middle East wood coatings market to develop efficient technologies and increase production rates to meet market demand. The primary focus areas include collaborations, product launches and strategic mergers & acquisitions. The key companies operating in the market are PPG Industries, AkzoNobel NV, BASF SE, Axalta Coatings Systems, Sherwin Williams, The 3M Company, Nippon Paints, Kansal Paints Co. Ltd., DowDuPont Inc. and Donglai Coating.

PPG Industries Inc.

Overview: PPG Industries is a multinational company specializing in developing and manufacturing chemicals and molecules. The company primarily develops formulations for industrial solutions, thermal insulation, chemicals, materials, surface technologies, nutrition and care and agricultural solutions. The PPG Industries group develops, produces and is a parent company of 200 companies. It has a presence in over 70 countries across the world. The most important of the division's product groups are automotive, coating, packaging coating and specialties. The innovative intermediates from PPG Industries help improve final product properties and production process efficiency.

Product Portfolio
• Interior Building Products: PPG is a global leader in high-performance coatings, including toners, primers, stains, fillers, sealers, glazes and topcoats, for all wood finishing processes. It product keeps a variety of wood and interior building products looking factory-finished. Its market leader in liquid coatings for wood offers coatings with 100% and reduced solids that are UV-curable in addition to waterborne and solvent-borne, spray-applied and vacuum-applied.

Key Development
• In August 2022, To double the production capacity of its powder coatings plant in San Juan del Rio, Mexico, PPG Industries Inc. announced that it will invest US$ 11 million. By mid-2023, the expansion project is anticipated to be finished and it will facilitate the plant to supply Mexico's anticipated future demand for powder coatings. The plant will have new manufacturing technology owing to this investment, improving production procedures and process efficiency. The productivity of the plant will increase even more and customers will benefit from better service and quicker response times.

Why Purchase the Report?
• To visualize the Middle East wood coatings market segmentation based on resin, formulation and application, as well as understand key commercial assets and players.
• Identify commercial opportunities in the Middle East wood coatings market by analyzing trends and co-development.
• Excel data sheet with numerous data points of refinish paints and coatings market-level with all segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.

The Middle East wood coatings market report would provide approximately 36 tables, 32 figures and 154 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies