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Key Highlights

·         The automotive paints and coatings market generated a value of USD 18.8 billion in 2023, which will increase to USD 32.2 billion, powering at an 8.0% compound annual growth rate, by 2030.

·         Polyurethane paints and coatings are extensively used because of their long lifespan as well as rust-prevention properties.

·         Polyurethane coatings and resins, apart from metallic surfaces, are also used on concrete and wood.

·         These products are accepted for their robust protective layer, which enhances the durability of the coated surface by decreasing the impact of scratches, chemicals, and environmental changes.

·         Due to their strength and flexibility, they are exceptionally beneficial for harsh weather situations like in personal vehicles and marine structures.

·         The automotive sector has been affected by the rising need of customers for environment-friendly and sustainable coating, which is encouraging companies to adapt.

·         The necessity to tackle the ecological problems because of conventional paints and coatings is a major reason the automotive sector is changing to environment-friendly and robust paints & coatings.

·         To decrease the hazard of heavy metal poisoning in the repainting workforce, environment-friendly, water-based paints with no or less lead are being produced.

·         Automotive paints & coatings are therefore being developed with the lead content ranging from 0.00025-107.928 mg/g.

Market Insights

APAC was the largest contributor to the industry in 2023, with a 55% share, and it is also likely to advance at an 8.5% compound annual growth rate during this decade.

The environmental policies employed in the wake of the critical air quality in regional cities are boosting the need for environment-friendly paints & coatings.

Electrocoat led the industry in 2023, generating more than USD 8.5 billion, and it will continue this trend throughout this decade. This layer offers many advantages, such as uniform covering, less wastage, and rust resistance.

Waterborne technology accounted for the largest share of the industry in 2023, of approximately 50%, and it will remain the largest in the coming years. These formulations are environment-friendly and comprise nearly no VOC; therefore, they can decrease air pollution.

The polyurethane category was the largest contributor in 2023, with approximately 45% share. Polyurethane is weather-resistant, enabling it to protect the automobile from moisture, snow, heat, and hail.

In the automotive sector, polyurethane is extensively employed for interior components, exterior and interior cladding, production of gaskets and seals, protective coatings, and more.

Metallic texture led the industry in 2023, as it offers a polished and refined appearance. Not only does the metallic texture enhance the look of an automobile by giving it a superior look, but it also defends the automobile from severe weather.

The passenger cars category was the largest contributor to the industry. With the rising need for passenger cars, the requirement for paints and coatings is also surging, as car owners want a unique look.

The automotive paints and coatings industry is highly competitive because of the presence of numerous global and local companies. New companies are entering continuously, which leads to many problems for the existing players and opportunities for new players.

In this competitive industry, players often invest in better-quality products, customer service, and innovations.

Source: P&S Intelligence

Market Overview

In 2024, the Saudi Arabian building and construction sheets industry valued size will be USD 6,256.1 million in 2024, and it is expected to attain USD 7,919.3 million by the end of the decade, developing at a CAGR of 4.0% during the projection period. It will be because of the rising construction sector, along with the increasing populace, growing rate of urbanization, and thriving economy of Saudi Arabia.

A growing number of government steps in Saudi Arabia under Saudi Vision 2030 target to expand the economy and lessen the dependency on income from oil. These initiatives revolve around huge building activities in several industries, like hospitality, healthcare and education, therefore driving the need for building and construction sheets. The growing populace in the nation is fuelling the need for housing, healthcare services, and other bits of commercial and civic infrastructure.

The Saudi government is actively participating in promoting investment in the facilitate real estate investment by the local as well as the international companies as means of boosting the economy of the Saudi Arabia. For instance, the Capital Market Authority (CMA) in November 2021 extended rights to invest in Real Estate for non-Saudi residents in Makkah and Madinah. There is Vision 2030 National Development Plan which is the strategy map of from Saudi Arabia, and one of the key integrated growth projects being embarked on is the Ad-Diriyah Integrated Growth project.

Key Insights

•In 2024, metals account for the largest industry share of 45%, credited to their strength and adaptability in construction applications like roofing and cladding.

•Polymers are projected to be the fastest-developing category over the decade as plastic sheets provide defensive wrap and insulation for buildings.

•In 2024, the roofing category grips the largest share in of 35%, vital for building construction, needing robustness, thermal resistance, and water-repellence.

•Growing development, infrastructure growth, and government steps like Vision 2030 propels substantial need for roofing materials.

•The residential category had the largest share and is estimated to advance at a CAGR of 4.5% because of the increasing populace and need for residential buildings, supported by government housing initiatives.

•The residential sector includes single-family homes, apartment buildings, and housing complexes, all requiring construction sheets for various applications.

•Protection accounts for the largest share in 2024 and is expected to grow at a CAGR of 4.2% due to the rising demand for building protection from harsh climates, UV radiation, and dust.

•Insulation is projected to be the fastest-growing category due to new product launches providing thermal insulation.

•Al-Riyadh holds the largest province share in 2024 at 40%, attributed to large-scale construction projects and government initiatives.

•Al-Madinah is expected to be the fastest-growing province with a CAGR of 4.7%, driven by urbanization and the increasing demand for residential and commercial buildings.

Source: P&S Intelligence

Market Overview

In 2024, the Saudi Arabian fluoropolymer industry will produce an estimated revenue of USD 234.9 million, and the market is also estimated to experience a CAGR of 4.7% over the projection period, attaining USD 309.3 million by 2030.

This development can be credited to the beneficial properties of fluoropolymers, like low friction, high-temperature stability, and robust chemical resistance, which propel its application in several fields, like automotive, aerospace, and industrial machinery. Moreover, the industry is projected to witness fast expansion in the coming years because of constant investments in enhanced tech, infrastructure, and ecologically friendly and sustainable materials.

Investments in the oil and gas sector are rising, leading to higher demand for materials that can endure harsh conditions like high temperatures, extreme pressures, and corrosive environments. Fluoropolymers, known for their chemical resistance and durability, are crucial in manufacturing gaskets, seals, and pipelines for this industry. Furthermore, advancements such as automated drilling rigs and the industrial internet of things are further driving the adoption of fluoropolymers in oil and gas applications.

Saudi Vision 2030 aims to diversify the economy beyond oil, focusing on industries like petrochemicals, manufacturing, and construction. This industrial expansion is expected to boost the demand for fluoropolymers due to their extensive use in sealing, insulation, and protective coatings.

The industry is witnessing price fluctuations for raw materials, like fluorine compounds, which disturb production prices and have an impact on production companies' profit ratios. Geopolitical concerns have an impact on the supply chain since they reduce the availability of raw materials and raise their costs.

For instance, raw materials such as aluminum increased to 3.7% in 2022 due to supply chain disruptions

Key Insights

•Building and construction sector holds 40% market share in 2024, driven by fluoropolymers in cables, pipes, insulation, sealants, and architectural coatings.

•Saudi Vision 2030 boosts market with infrastructure projects, urbanization, and smart city initiatives.

•Automotive sector grows at 5.3% CAGR from 2024 to 2030, driven by fluoropolymers in gaskets, fuel hoses, seals, and wiring insulation.

•Technological advancements like autonomous driving and electrification increase demand for durable materials such as fluoropolymers.

•Polytetrafluoroethylene (PTFE) leads with 35% market share in 2024, known for thermal stability, chemical resistance, and low friction.

•PTFE used across construction, automotive, electrical, cooking appliances, and industrial sectors.

•Eastern region dominates with 40% market share in 2024, driven by oil, gas, and petrochemical industries in cities like Dammam, Jubail, and Khobar.

•Fastest-growing province with 5.5% CAGR, supported by industrial complexes and infrastructure projects.

•Market fragmented with strong competition among players like SABIC, Solvay Group, and Daikin Industries Ltd.

•Companies leverage technology and collaborations to maintain competitive advantage.

Source: P&S Intelligence

The humic acid market was USD 757.0 million in 2023, which will increase to USD 1,632.9 million, with an 11.9% compound annual growth rate, by 2030. 

The growth of this industry is because of the rising utilization of humic acid in agriculture and various other sectors, growing attention on organic farming & sustainable agriculture, and increasing consciousness of the harms of chemical fertilizers.

Humic acid is an organic element that derives from soils containing lignite, coal, and some other sources. It is employed in animal feed and organic fertilizers in the form of grains, liquid, and powder. 

For instance, sandy soils are incapable of holding water because of low humus content. Humic acid can produce ionized nutrients, which are formed by the preservation of humus and water biomolecules.

The increasing need for biostimulants and organic fertilizers is a major factor boosting the requirement for humic acid across the globe. The adoption of biostimulants comprising humic acid in agriculture has been linked with the possibility of enhancing production without losing the production of environmental crops. 

Another key trend being observed in the humic acid market is sustainable agriculture. Sustainable agriculture means offering suitable resources as per existing human requirements, without harming the planet. Though chemical fertilizers enhance the growth of the plant, those plants might not have the essential combination of nutrients for humans or develop appropriate root systems. 

Moreover, they also gradually reduce the soil quality, and the toxic chemicals further damage groundwater as well as customers' well-being. Humic acid assists in soil retention as well as erosion prevention and guarantees the finest plant growth by helping the development of the root system.

In the pharmaceutical sector, the effectiveness of medicine plays an important part in its success. Various research studies have revealed that humic acid can assist in boosting the antiviral agent’s effectiveness.

Generally, synthetic polymers are employed for targeted medication delivery, however, the application of humic acid has unlocked the entrance for additional natural substances.

APAC accounted for a significant share of the industry. This can be primarily ascribed to the fact that the largest agricultural land in in Asia, with more than 1.4 billion hectares, with China owning 527 million hectares. 

Moreover, the huge populace and the substantial dependence on the agriculture sector are the key factors for boosting the regional industry. In addition, the increase in the consciousness of sustainable agriculture will further boost the growth of the industry in this region. 

It is because of the increasing emphasis on organic farming and sustainable agriculture, the humic acid industry will continue to advance in the coming years.

The world has changed a lot since the past few years and with it the priorities of people have changed as well. Since items that were once considered luxurious are now available at cheaper prices, along with the rise in the disposable income of people, the demand for products such as shower glass door has increased. These doors are fixed in bathrooms for preventing water from coming outside the bathtub or the shower. Shower glass door further increase the aesthetic appeal of washroom, which is why they are widely being used in modern washrooms.

Due to all these factors, the global shower glass door market is predicted to register considerable growth in the years to come. The rapid urbanization across the globe is also a major factor that has led to the rising demand for shower glass doors. People are increasingly migrating from rural to urban areas, as a number of facilities are available at such places. This is further resulting in the growth of the real estate industry, as a larger number of people are now looking for personal houses. The growth of the real estate industry is positively affecting the demand for shower glass doors.

These days, shower glass door are also available at online platforms, which is why people can get these products easily. The surging penetration of internet and smartphones is leading to the growing adoption of online retailing platforms all across the globe. Online retailing channels are becoming the key distribution channels for home improvement and decoration items, such as shower glass doors. The rising penetration of this distribution channel is further opening up wide opportunities for the new companies entering in the domain, thereby leading to the growth of theshower glass door market.

When type is taken into consideration, the market is divided into framed and frameless, between which, the frameless category held the larger share of the market in the past and is further expected to contribute the largest revenue share to the market in the coming years as well. This is due to the fact that frameless heavy shower glass doors are considered a contemporary design trend. These doors provide bathrooms with a luxurious and spacious look, owing to which, people are increasingly opting for these doors.

Frameless shower glass doors are further ideal for small bathrooms, as they take less space than framed shower glass doors. These doors are further made up of denser materials, which means that the number of elements that may break is lesser than that of framed shower glass doors. Geographically, Asia-Pacific is projected to register the fastest growth in the shower glass door market in the coming years, as stated in a report by P&S Intelligence. This is because of the rising awareness regarding brands and increasing preference for high-end products in the region. In addition, the improving economic situation of various countries in the region is also driving demand for these products.

In conclusion, the demand for shower glass doors is growing due to the rapid urbanization and increasing disposable income of people.  

Key Highlights

The two-wheeler logistics market generated a value of USD 124.9 billion in 2023, and it will touch USD 458.0 billion, propelling at a 20.5% compound annual growth rate, by 2030. 

This growth is mainly because of the cost-effectiveness and convenience of these services, the incorporation of real-time tracking technology, and the thriving e-commerce sector. 

The transportation and logistics sectors are experiencing substantial changes, such as the incorporation of real-time tracking technology. 

IoT is becoming prevalent in many sectors, with logistics and transportation being considered the main industries in this regard. 

To assist businesses in maintaining the surging need, technology is transforming logistics by offering real-time tracking solutions in the process of delivery.

To promote the adoption of eco-friendly automobiles with low emissions, decreases in the registration tax and various other liabilities like tax rebates and subsidies, have been provided by governments across many nations.

Subsidies have assisted the industry by making electric motorcycles and scooters more viable for consumers for business and personal purposes.

These factors are accountable for the surge in the acceptance of electric motorcycles and scooters across different nations. 

Key Insights

• APAC accounted for the leading share of the industry in 2023, and it will further advance at the fastest compound annual growth rate, of 21.0%, in the years to come.

• This will be because of the high need for two-wheeler logistics services in the emerging economies of APAC, including China and India. 

• The scooter category is leading the industry, and it will further propel at the fastest rate, of 20.8%, during this decade. 

• This is attributed to the rising acceptance of scooters because of their rapid acceleration, light build, and ease of mobility.

• The e-commerce category accounted for the dominating share of the industry in 2023, of approximately 45%. 

• This is because of the increasing consumer base; however, consumer’s buying patterns and expectations are also shifting, with consumers now expecting free and rapid shipping, along with competitive pricing.

• Food delivery will propel at the fastest rate, of 20.9%, in the years to come. This will be mainly because of the merging customer choices, the suitability of ordering food, and digital transformation.

• The electrical category will observe a higher growth rate, of 20.7%, in the years to come. This is because electric vehicles have proven to be an environment-friendly, affordable, and efficient means of transportation for delivery service providers. 

• The conventional fuel-based category accounted for a larger share of the industry in 2023, of approximately 75%. This can be attributed to their developed infrastructure, smooth refueling process, widespread accessibility, and popularity.

• Business-to-consumer (B2C) is leading the industry, and it will also propel at the fastest compound annual growth rate, of approximately 80%, in the coming years.

• There are numerous players in this industry that emphasize on developing and launching electric two-wheelers to increase their customer range. 

• Several global and regional companies are tirelessly working on advanced methods to effectively introduce new electric models in the vehicle sector to enhance their market presence. 

• Players are also involved in collaborations, partnerships, acquisitions, and mergers, to enhance their competitiveness.  

Source: P&S Intelligence

The liquid air energy storage (LAES) market is expected to grow significantly from USD 1,739.4 million in 2024 to USD 4,887.6 million by 2030, reflecting a CAGR of 18.8%. This growth is fueled by the increasing power demand driven by industrialization and globalization. LAES technology serves various applications, including peaking power, grid support, emergency backup, voltage control, and frequency regulation.

LAES technology offers high energy density, easy setup, and long-duration energy storage (LDES). It utilizes air stored as a liquid, which is then converted back to gas to drive turbines. Advantages of LAES systems include a long lifespan, high efficiency, and suitability for medium-to-large-scale applications, with systems capable of producing over 100 MW.

In the industrial segment, LAES ensures power availability during outages and aids in demand-side management, reducing energy costs. This approach enhances load control and power system contingency, thereby improving the overall efficiency of power systems. Notably, the electricity and heat industries accounted for about 14% of global emissions prior to the implementation of net-zero mandates worldwide, aimed at achieving carbon neutrality by 2050.

According to predictions, 65 Gt of greenhouse gases will be emitted in 2022. LAES technology supports these objectives by mitigating uncontrolled emissions and facilitating the integration of renewable energy sources (RES), such as solar and wind power.

Ongoing research and development, along with investments in the power and energy sectors, primarily focus on advanced power grids, including renewable and smart grids. The LDES capabilities of LAES target grid-scale deployments, addressing issues related to voltage, frequency, and grid congestion. LAES promotes renewable energy integration by storing energy from intermittent renewable sources and converting it into usable power.

Research indicates that hybridizing RES with LAES can potentially offset 100% of fossil fuel energy. RESs feed energy into air liquefaction during off-peak periods, and the stored liquid air is used in turbines when necessary. This method offers better energy density than pumped hydro storage (PHS) and compressed air energy storage (CAES) without being site-specific.

These developments highlight the growing importance of LAES in enhancing energy storage capabilities and transitioning to cleaner energy sources to meet the increasing global energy demand.

• North America: The North American region is the largest market for liquid air energy storage systems. The U.S., in particular, has made significant investments in renewable power and has ambitious future goals. Approximately 90 power storage projects have been commissioned in California, where companies are integrating solar resources to improve system reliability. The U.S. and Canadian markets are driven by the need for clean power storage and corporate partnerships.

• Asia-Pacific (APAC): The APAC region is expected to witness substantial growth in the LAES market, with a projected CAGR of 19.2% until 2030. This growth is attributed to rapid economic development and industrialization. LAES systems are employed in various sectors, including oil & gas and power & energy, due to their compatibility with any gas. Key applications in APAC include backup power, carbon capture, and industrial process cooling. The Asia-Pacific countries are investing heavily in renewable power research and development, accelerating market growth. India, for instance, requires 160 GWh of storage capacity by the end of the decade, with 61% needed for the renewable power sector's decarbonization targets.

Source: P&S Intelligence

The CNG and LPG vehicle market is set to register sales of 102.3 million units by 2030. The major factors accountable for the growth of this industry are the increasing acceptance of eco-friendly vehicles and the ability of LPG and CNG vehicles to replace traditional vehicles. Such vehicles are value for money in the long run. 

The CNG category is expected to hold a larger market share by 2030 and is projected to progress with a higher CAGR throughout the forecast period. The adoption of CNG vehicles for mobility, especially in developing countries of APAC is the prime factor that drives the growth of the CNG and LPG vehicle industry.

The passenger cars category is expected to hold the largest market share in the coming years. The major reason for the growth of the industry is the increasing acceptance of LPG-and-CNG-based passenger cars, and several government guidelines to reduce air pollution.

On the basis of volume, APAC had the largest share in the LPG and CNG vehicle market. This can be accounted to the massive growth in the automotive sector in countries including India, China, South Korea, and Japan. China is the biggest market for LPG and CNG vehicles globally. 

Vehicles that run on CNG and LPG are more economical than the ones running on fossil fuels, like diesel and gasoline. In the European countries, CNG cost around $1.5 to $2.8 per gallon, which is almost 40–75% cheaper, than gasoline and diesel. 

Industries using trucks that run on CNG regularly see payback on the conversion cost in only 2-3 years. The usage of LPG has several benefits like LPG refuelling method usually costs less in installation and as compared to CNG fuel tanks, LPG fuel tanks are compact, which helps in the reduction of loss of loads. 

Therefore, CNG and LPG vehicles are way more cost-efficient which is propelling the demand for these fuels globally.

The e-commerce industry held a significant share of all retail sales in the past, and is projected to grow more in the years to come. Therefore, as the e-commerce sector is growing, the requirement for eco-friendly vehicles is projected to surge. 

Therefore, many businesses are depending more on cost-efficient and greener transportation methods to become more responsible toward the environment. Such reasons will contribute to the growth of this industry in the coming years.

Hence, the expansion of the e-commerce industry, the growing need for eco-friendly vehicles, and low cost as compared to the conventional vehicles will drive the demand for CNG and LPG in the coming years. 

Source: P&S Intelligence

Key Highlights

• The European electric scooters and motorcycles market generated a value of USD 562.6 million in 2023, and it will increase to USD 3,200.7 million, with more than 28% CAGR, by 2030.

• The industry is positively impacted by the increasing sales of e-two-wheelers via e-commerce platforms.

• Online purchasing and sales activities have shown very suitable for both sellers and buyers of electric scooters and motorcycles.

• Online mediums, in Europe, have also enabled the sales of e-scooters and e-motorcycles by original equipment manufacturers based outside Europe.

• These mediums have shown rather effective in assisting businesses in performing their commercial procedures and reaching a bigger pool of consumers.

• This has also allowed customers to gain access to many alternative brands to pick from and make informed buying decisions.

• The rising need for high-powered electric motorcycles is a major trend being observed in this industry. The need for high-powered e-motorcycles is surging in this region.

• Key manufacturers are providing e-motorcycles with motor power of over 30 kW and have also declared their strategies to introduce models of greater motor power.

• Different manufacturers of conventional petrol-powered automobiles have declared their future plan of introducing high-powered e-motorcycles in the years to come.

Market Analysis

The scooter category was the largest contributor to the industry in 2023, with approximately 50% share, primarily because of low cost as well as weight.

This is also because of the increasing government support in terms of tax incentives and implementing heavy taxes on traditional fuel-driven automobiles, across Europe.

These vehicles offer a good user experience with extra advantages like the non-requirement of insurance, driving license, parking permits, and inspections.

In the years to come, the industry is likely to advance at the fastest CAGR in the electric scooters and motorcycles using battery voltage of 72 V, in terms of volume. This is because of the increasing customer need for high-speed automobiles, coupled with robust bodies and better aesthetics.

Electric scooters and motorcycles armed with Li-ion batteries led the industry in 2023, with approximately 75% sales volume.

All-electric scooters and motorcycles in this region are likely to run using Li-ion batteries till 2025, primarily because of the increasing need for long-range high-driven two-wheelers, and the steadily decreasing costs of Li-ion batteries.

Li-ion batteries possess a high-power density, long lifespans, lightweight, fast charging time, customizable technology, and low self-discharge.

France was the largest contributor to the industry in 2023, with approximately 35% volume share.

Spain, in terms of value, is likely to be the largest contributor to the industry in the years to come. This will be because the introduction of the scooter-sharing business is gaining popularity in key cities of this nation.

The European electric scooters and motorcycles industry is consolidated, with the major four companies accounting for a substantial share of the industry in 2023. The count of operators in this regional industry has been increasing. Over 100 firms operate in this industry.

Players in the industry are also concentrating on product introductions and geographical expansion to enhance their sales across various regions and nations.

Source: P&S Intelligence

The global benzalkonium chloride market generated a revenue of $525.0 million in 2019, and it is predicted to progress at a CAGR of 9.6% between 2020 and 2030. Furthermore, the market will reach a value of $1,301.1 million by 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the booming oil & gas and pharmaceutical sectors across the world.

The compound is heavily used in the pharmaceutical sector, due to its ability to serve as a disinfectant, antiseptic, antimicrobial preservative, wetting agent, and solubilizing agent. As a result, the surge in the pharmaceutical sector, because of the soaring disposable income of people, huge investments being made by the governments of several countries, and the increasing affordability of healthcare services, is boosting the demand for benzalkonium chloride across the world.

Besides, the expansion of the oil & gas industry is also propelling the demand for the compound. According to the International Association of Oil & Gas Producers (IOGP), the demand for oil and gas has risen massively over the last ten years. Moreover, the worldwide consumption of petroleum and various other associated liquids increased from 100.4 million barrels per day in 2018 to 101.2 million barrels per day in 2019, as per the U.S. Energy Information Administration (EIA).

On the basis of application, the benzalkonium chloride market is categorized into hand sanitizers; eye, ear, and nasal drops; shampoos; spermicidal creams; aquaculture chemicals; water treatment chemicals; coatings; and timber protection chemicals. Out of these, the disinfectants category is predicted to dominate the market in the forthcoming years. This is credited to the fact that the compound has a broad biocidal activity and can easily remove unwanted fungi, bacteria, viruses, and algae from surfaces.

When type is taken into consideration, the market is also classified into benzalkonium chloride 80% and benzalkonium chloride 50% categories. Between these, the benzalkonium chloride 50% category is predicted to hold the larger share in the market in the upcoming years. This is ascribed to the fact that the compound is extensively used in numerous personal care and pharmaceutical applications, owing to its less toxic nature than benzalkonium chloride 80%.

Globally, the benzalkonium chloride market is predicted to exhibit the highest growth rate in Asia-Pacific (APAC) in the forthcoming years. This will be because of the rapid expansion of the chemical industry in India and China. In addition to this, the soaring requirement for disinfectant products, because of the COVID-19 pandemic, and the increasing implementation of various strategic initiatives by several companies operating in the specialty chemicals industry are also driving the expansion of the market in this region.

Hence, it is safe to say that the market will grow substantially in the coming years, primarily due to the surging usage of benzalkonium chloride in water treatment facilities, disinfectants, and personal care products and also in the pharmaceutical and oil & gas sectors across the world.

Source: P&S Intelligence