Market Trends of Egypt Paints and Coatings Industry
This section covers the major market trends shaping the Egypt Paints & Coatings Market according to our research experts:
Acrylic Resin Type to Dominate the Market
- Acrylic resins are the most widely used polymers in the paints and coatings industry. Most acrylic paints are water- or solvent-based and are available as emulsions (latices), lacquers (lower volume solids), enamels (higher volume solids), and powders (100% solids).
- Common acrylic polymers come in a wide variety of types and combinations, such as methyl and butyl methacrylate.
- The two principal forms of acrylic used are thermoplastic and thermoset. Thermoplastics acrylic resins are synthetic resins achieved by the polymerization of different acrylic monomers. Thermosets are cured at elevated temperatures by reacting with other polymers.
- Acrylic resin has major performance advantages, such as gloss, exterior durability, corrosion resistance, chemical resistance, solvent resistance, and hardness.
- Application of acrylic coatings is primarily found in the construction industry for high-end finishing in roofs, decks, bridges, floors, and other applications. Water-based acrylic coatings are high in demand due to the environmental concerns, like the negative impact of VOCs affecting the air quality.
Increasing Demand from Architectural Segment
- Architectural paints and coatings are by far the largest segment in the whole paints and coatings industry. Architectural coatings are meant to protect and decorate the surface features.
- These are used to coat buildings, homes, commercial applications, such as office buildings, warehouses, retail convenience stores, and shopping malls, and residential buildings.
- The construction industry in Egypt has been among the fastest-growing in the world, expanding by an average of over 9% in the past few years. The country's construction projects accounted for about 10% of the total number of construction projects in Africa.
- The market witnessed recovery in 2021, with the increasing demand from the architectural industry, growing urbanization, and rising demand for eco-friendly coatings with new project announcements (such as the Green Cities Program, the Noor City Project in East Cairo, and skyscrapers at New Alamein Egypt).
- Egypt has around 1,400 development projects, of which almost 70% of the ventures are in the advance stage and the remaining in the initial stage. There are upcoming projects in Mountain View iCityin New Cairo. Such factors are fuelling the demand for architetcural coatings in the country.