Middle East and Africa Paints & Coatings Market - Segmented by Technology, Resin Type, Applications and Geography (2017 - 2022)
The paints & coating market in the Middle East & Africa (henceforth referred to as ‘the MEA market’) is expected to value at USD 9,602.93 million (in terms of revenue) and 4,015.48 kilotons (in terms of volume) in 2017. The market is expected to reach USD 12,950.07 million and 5,141.77 kilotons by 2022, with an estimated CAGR of 6.16%, and 5.07%, respectively, over 2017-2022 (henceforth referred to as ‘the forecast period’).
The paints & coatings industry in MEA is an emerging market owing to large-scale construction projects that are currently underway. Most Middle Eastern countries have invested a considerable amount in their construction industries over the last decade. This is a result of the plan to diversify their economies from oil and oil-related business activities to other industry sectors; tourism has become the major focus. However, due to budget constraints caused by continued low crude oil prices, countries in MEA had cut down their expenditure on infrastructure in 2016, reducing the sales of paints & coatings in the region.
In this report, the MEA market has been categorized into industrial and architectural coatings. The architectural coatings segment occupies a major share of the MEA market, in terms of volume; this segments accounted for nearly 76.54% of the regional sales in 2017, and it is expected to register a considerable growth rate during the forecast period. Sales in the industrial coatings segment have been recording slower growth rates, owing to reduced industrial activities caused by reduced crude oil exploration and production activities.
The MEA market has also been segmented by technology into water-borne, solvent-borne, radiation cured and others. The water-borne coatings segment is expected to record the highest growth rate during the forecast period, owing to the increasing use of water-borne adhesives in architectural coatings. The solvent-borne coatings segment still dominates the industrial coatings segment, as they more efficient than the rest.
The market has been segmented be regions into Saudi Arabia, Jordon, Egypt, UAE, Qatar, Kuwait, South Africa and Nigeria. Saudi Arabia accounted for the largest share, country-wise in 2017. Egypt and Jordon are expected to record the fastest growth rates during the forecast period, owing to the increased spending in construction activities and growing industrial activities in the countries.
Some of the major companies dominating this market are AkzoNobel Coatings, BASF, Jotun, Hempel and Al-Jazeera Factory for Paints.
Key Deliverables in the Study:
• Market analysis for the global chlorine market, with region specific assessments and competition analysis on global scale
• Market definition along with the identification of factors instrumental in changing the market scenarios and prospective opportunities
• Extensively researched competitive landscape section with profiles of major companies along with their market shares
• Identification and analysis of the macro and micro factors that affect the global chlorine market on global scale
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
• Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.