The demand for corrosion protection coatings and acid-proof linings in the Middle East and North Africa (MENA) is expected to rise by 3.2 percent year on year by the end of 2016. Saudi Arabia is predicted to be the MENA region's top consumer of corrosion protection coatings and acid-proof linings, with a revenue share of 32.5 percent by the end of 2016. Strategic government measures to diversify the country's economy, as well as increased public and private sector investments in a variety of end-use industries, are likely to fuel market development shortly.
The robust expansion of the marine sector, as well as increased maritime activities such as shipping, offshore maintenance, and shipbuilding, are expected to boost the corrosion protection coatings and acid-proof linings market. However, the Middle East's prolonged oil crisis may have a detrimental influence on industry growth.
Polymer coatings will continue to be the favored material in the MENA corrosion protective coatings market, accounting for a revenue share of 64.6 percent by the end of 2016. Because of their technological excellence and multi-functionality, epoxy and polyurethane will continue to be the most sought-after polymer coatings. The thermoplastic lining will continue to be the most popular acid-proof lining product, generating US$ 155.8 million in revenue by the end of 2016.
Participants in the market include Cape RB Hilton Saudi Arabia Ltd., Hertel OTC, StonCor Middle East LLC, and Kaefer LLC. In the region, REMA TIP TOP AG, KCC Corrosion Control Co., StonCor Middle East LLC, Anticorrosion Protective Systems L.L.C., Al Gurg Paints LLC, Ineco Limited, Global Suhaimi, and Ocean Rubber Factory LLC are actively focusing on capacity expansion as well as industry-specific new product development. Furthermore, mid-level market competitors are focusing on distribution and geographical development to capitalize on the MENA corrosion protective coatings and acid-proof linings market's growth potential.