Saudi Arabia Paints & Coatings Market - Predicted Growth, Trends, Opportunity & Analysis
Saudi Arabia Paints & Coatings market is expected to grow at a significant CAGR in the forecast period. The oil industry is the major revenue-generating industry in Saudi Arabia and with the rise in government initiatives to diversify the income sources and to reduce the dependency on the oil industry, the leading authorities are promoting the development of the paints & coatings industry. An increase in the disposable income among middle-class families is surging the expenditure capacity of the consumers which in turn is influencing the growth of the paints & coatings market in the next five years. Supportive government policies and initiatives such as Saudi Vision 2030, the construction of Neom City, is promoting the construction of residential and commercial spaces which in turn is expected to boost the demand for paints & coatings. Paints & coatings are used in the interior of homes for decorative purposes or to add colors to the walls and perform d...