The market is dominated by foreign suppliers, as imports account for 51.2% of total market size in 2022. B2B drives market demand, with B2B spending representing 68.1% of total demand in 2022. Saudi Arabia has the second largest market size for paints and varnishes regionally, with demand reaching USD1.1 billion in 2022. Jotun Saudia Co Ltd is the largest company in Saudi Arabia, generating 22.7% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 45.9% of total production value in 2022. The total number of companies increases in 2022, to 600 units. The costs of the industry increase by 17.5% in 2022, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 27.9% of production value in 2022, the 11th highest regionally. The industry’s exports share decreases in 2022 to 7.3% of total production output. With production value of USD767 million, Saudi Arabia accounts for 12.0% of the Middle East and North Africa total in 2022.
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This Euromonitor industrial report provides unique information on Paints and Varnishes in Saudi Arabia: ISIC 2422. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Paints and Varnishes in Saudi Arabia: ISIC 2422 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic chemicals, fertilisers and nitrogen compounds, man-made fibers, paints and varnishes, pesticides and other agro-chemical products, photochemicals, explosives and other chemicals, plastic in primary forms and synthetic rubber.
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