Kuwaiti Paints & Coatings Industry Outlook 2020-2024: Value Chain Analysis, Market & Competition Overview, Growth Opportunities

DUBLIN, Feb. 19, 2020 /PRNewswire/ -- The "Analysis of the Paints and Coatings Market Opportunities in Kuwait, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The paints industry in Kuwait is expected to witness 2% to 4% growth by 2022. Segments such as decorative and protective will be on the higher side of the growth range (3.5% to 4%), while segments such as powder, auto refinish, and wood coatings will experience growth in the 2.5% to 3% range.

Supply in the Kuwaiti paints industry is marked by both local manufacturing and imports. Segments such as decorative and powder coatings have substantial presence of local manufacturers while other segments rely on imports to meet the local demand.

Within decorative coatings, imports account for one-third of the total supply. Among domestic manufacturers, GTC is the largest in terms of volume and value. Other key local producers include KPC, Hempel, and Al Matrooq. Sigma and Jotun import paints from their production units in Oman, the KSA, and the UAE. For wood coatings, major participants are National, Flora, and Renox, most of which are imported from the KSA.

Protective coatings supply is marked by the presence of global MNCs such as International, Hempel, and Jotun. Powder coatings supply is marked by the presence of global companies such as Jotun and AkzoNobel as well as Middle East-based participants such as Intercoat, National, and Alwan. Auto refinish coatings supply is dominated by global participants such as PPG and Axalta, while regional participant KAPCI also has a significant presence. The marine coatings market in Kuwait is highly consolidated, with the top two companies accounting for 85% of the market.

With regard to sales channel, direct selling continues to be dominant. However, within decorative segments, the share of retail channel sales has surpassed that of projects because of the slowdown in number of large-scale construction projects. For wood coatings, large joineries and furniture manufacturers are the key end-users. Value chain for protective coating in Kuwait is similar to the rest of the GCC countries. Contractors within major end-use segments play a crucial role in protective coatings sale. The role of traders and distributors is minimal, largely limited to the generic variants of protective coatings like the ones used in architecture and infrastructure. Direct selling is the key channel for the sale of powder coating products in Kuwait.

Auto refinish coatings are sold directly to body shops through authorized dealership across Kuwait. In terms of consumer trends, for decorative coatings, interior coatings are dominated by plain appearance, with special effects having a negligible share. The market is dominated by medium segment products. For wood coatings, nitrocellulose coatings systems are dominant in Kuwait, as ease of usage and economical prices are driving their sale. Water-based wood coatings are gaining some market share in Kuwait. They are used for interiors and exterior segments and renowned for low VOC content.

Protective coatings are primarily used in the oil and gas sector. The sector uses various coating systems, with corrosion, chemical, and high-temperature resistance as the key functionalities. KNPC and KOC approvals are mandatory for gaining market share. Major end users for powder coatings are aluminum extrusion and switchgear companies. The industrial segment is the largest holding 44% of the market share and will drive the demand in the segment. Within the automotive industry, the majority of cars are made out of solid paints. They use solid non-metallic colors and constitute the 2K segment for refinish coatings. 2K system is renowned for its high gloss durable finish. Although premium Class A body shop segment is dominant, the economy Class C segment is expanding and should be of high focus.

Marine coatings focus is mainly on coastal sea vessels. In the absence of local shipbuilding and maintenance industry, the marine coatings demand potential is expected to be low.

Key Topics Covered

1. Executive Summary

• Key Findings
• Market Engineering Measurements - Decorative Coatings Market
• Market Engineering Measurements - Wood Coatings Market
• Market Engineering Measurements - Protective Coatings Market
• Market Engineering Measurements - Marine Coatings Market
• Market Engineering Measurements - Automotive Refinish Coatings Market
• Market Engineering Measurements - Powder Coatings Market

2. Market Overview

• Market Scope
• Key Considerations
• Research Methodology
• Key Questions This Study Will Answer

3. Decorative Coatings Market Analysis

• Market Engineering Measurements
• Decorative Coatings Value Chain
• Market Overview
• Decorative Coatings Market - Tier Overview
• Market Segmentation
• Decorative Coating Brands
• Organized Market - Competition Overview
• Affordable Housing Projects to Drive Decorative Coatings Demand in Kuwait; Delayed Payments May Be a Challenge in the Short Term
• Revenue Forecast

4. Wood Coatings Market Analysis

• Market Engineering Measurements
• Wood Coatings Value Chain
• Market Overview
• Wood Coatings Market - Tier Overview
• Market Segmentation - By Volume
• Market Segmentation
• Organized Market - Competition Overview
• Revenue Forecast

5. Protective Coatings Market Analysis

• Market Engineering Measurements
• Protective Coatings Value Chain
• Market Overview
• Protective Coatings - Tier Overview
• Market Segmentation
• Organized Market - Competition Overview
• Investments in O&G and Power Generation to Drive Protective Coatings Demand
• Revenue Forecast

5. Marine Coatings Market Analysis

• Market Engineering Measurements
• Marine Coatings Value Chain
• Market Overview
• Market Segmentation
• Organized Market - Competition Overview
• Revenue Forecast

6. Automotive Refinish Coatings Market Analysis

• Market Engineering Measurements
• Automotive Refinish Coatings - Value Chain
• Market Overview
• Total Market - Tier Overview
• Market Segmentation
• Organized Market - Competition Overview
• Revenue Forecast

7. Powder Coatings Market Analysis

• Market Engineering Measurements
• Powder Coatings Value Chain
• Market Overview
• Total Market - Tier Overview
• Market Segmentation
• Organized Market - Competition Overview
• Infrastructure and Construction Investments will Drive Demand for Powder Coatings
• Revenue Forecast

8. Growth Opportunities and Companies to Action

• Growth Opportunity
• Strategic Imperatives for Success and Growth

9. The Last Word

• 3 Big Predictions

Companies Mentioned

• AkzoNobel
• Al Matrooq
• Alwan
• Axalta
• Flora
• GTC
• Hempel
• Intercoat
• Jotun
• KAPCI
• KPC
• National
• PPG
• Renox
• Sigma

For more information about this report visit https://www.researchandmarkets.com/r/y9xmaw

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