Middle East Paint Additives Market - Segmented by Type, Function, Paint formulation, Application, and Geography – Growth, Trends, and Forecasts (2016 - 2021)
The Middle East paint additives market has been estimated at USD XX million in 2016 and is projected to reach USD XX million by 2022, at a CAGR of XX% during the forecast period, 2017 to 2022. Additives are generally used in the initial phase of paint formulations to get the desirable property, which generally lack in normal paints. Additives have a wide range of functions, including improving paint’s adhesion, limiting mildew growth, improving the antifungal & antibacterial properties of the paint, improving the smell, and enhancing the flow ability on the surface. Some additives are used to increase the resistance of paints coats against water, chemicals, and heat, especially for those objects that are in continuous exposure with extreme weather conditions. Market Dynamics Owing to the robust growth in construction industry in GCC in all the segments including residential, commercial, and infrastructural development, the paint additives market is experiencing a growth in Middle East. Huge number of ongoing and pipelined projects are anticipated to drive the demand for paints from construction sector, which in turn, is anticipated to propel the market for paint additives in the region. However, growing environmental & health concerns are influencing the buying behavior of the consumers in Middle East, which anticipated to act as a restraint for Middle East paint additives market during the forecast period. Market Segmentation The Middle East paint additives market is segmented based on type, function, paint formulations, and application. The paint additives type segment is further sub divided acrylic, urethane, fluoropolymers, metallic, and others as per the availability. Based on their functions the market is fragmented into rheology modification, biocidic, wetting & dispersing, antifoaming, impact modification, pigmentation, and others. Based on paint formulations the Middle East paint additives market is further sub divided into water based, solvent based, and powder based additives. The application segment for paint additives in Middle East Market is sub segmented into automotive, construction, industrial, marine, wood & furniture, and others based on the key application areas. Opportunities and Major Players Growing environmental concerns are suppressing the demand for solvent-based paints and paint additives in the Middle East market. However, development of new and advanced additives to increase the environmental sustainability of the product is likely to create a potential opportunity in the coming years for paint additives in Middle East market. Some of the major companies dominating this market for its products, services, and continuous product development, include: • AkzoNobel N.V. • Arkema SA • Asahi Glass Co. Ltd. • Ashland Inc. • BASF SE Key Deliverables in the Study • Market analysis for the Middle East paint additives market, with region-specific assessments and competition analysis. • Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities. • Extensively researched competitive landscape section with profiles of major companies along with their market share. • Identification and analysis of the macro and micro factors that affect the Middle East paint additives market. • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.