MENA CORROSION PROTECTIVE COATINGS AND ACID PROOF LINING MARKET ANALYSIS

Market Challenges And Opportunities

MENA Corrosion Protective Coatings & Acid Proof Lining Market: Restraints

Complications Associated with the Inventory Management

High dependence on the import, challenges associated with the maintaining 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.

High Dependency on Import 

Lack of manufacturing facility for the production of the corrosion coatings in the Middle East is expected to hinder the market growth. Most of the demand for corrosion protective coatings is met through import from North Africa regions have a large number of manufacturing facilities.

MENA Corrosion Protective Coatings & Acid Proof Lining Market: Opportunities

Growing Demand for Industrial Coatings

Growing demand for industrial coatings, owing to increasing number of manufacturing facilities, is expected to offer opportunities to MENA corrosion protective coatings & acid proof lining market. Growing number of manufacturing industries across the major MEA economies such as Israel, Iran, South Africa, Egypt, Nigeria, Saudi Arabia, Algeria, UAE, and Qatar contribute around 70% of regional GDP, and a present large number of regional coatings market.

Growing Chemical Sector in the MENA Region

Growing 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 GPCA, the GCC chemical industry grew by 2.7% in 2021. Seven product segments account for 90% of the GCC's total chemical output, dominated by basic chemicals, agri-nutrients, and commodity polymers. Saudi Arabia represents the largest chemical production in the GCC, valued at 115.3 million tons, followed by Qatar and the UAE. These three countries account for 93.4% of the GCC’s total capacity. Over the last 10 years, the GCC chemical industry has continued to build its capacity by registering an average growth of 5.6% during forecast period.