Middle-East and Africa Paints and Coatings Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types), Technology (Water-borne, Solvent-borne, Radiation Cure, and Other Technologies), End-user (Architectural, Automotive, Wood, Industrial, and Other End-users), and Geography (Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Iran, Iraq, Nigeria, South Africa, Tanzania, Kenya, Algeria, Morocco, Egypt, and Rest of Middle-East and Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

3 %

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Market Overview

The Middle-East and Africa paints and coatings market is estimated to witness a significant growth, at an estimated CAGR of over 3%, over the forecast period. Paints and coatings are used for various applications in interiors and exteriors of houses for protection from blistering summers, freezing winters, soaking rain, and also from UV radiation.

  • A major factor driving the market studied is the increased focus on tourism and construction in the middle eastern region.
  • COVID-19 Outbreak is likely to have a negative impact on the market for short to medium term.
  • Plans for New Luxury Real Estate Projects in Qatar is likely to act as an opportunity for the market studied.

Scope of the Report

The Middle-East and Africa paints and coatings market report includes:

Resin Type
Acrylic
Alkyd
Polyurethane
Epoxy
Polyester
Other Resin Types
Technology
Water-borne
Solvent-borne
Radiation Cure
Other Technologies
End-user
Architectural
Automotive
Wood
Industrial
Other End-users
Geography
Saudi Arabia
Qatar
Kuwait
United Arab Emirates
Iran
Iraq
Nigeria
South Africa
Tanzania
Kenya
Algeria
Morocco
Egypt
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from the Architectural Industry

  • Architectural paints and coatings is 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 and homes. Most are designated for specific uses such as roof coatings, wall paints, or deck finishes. No matter its use, each architectural coating must provide certain decorative, durable, and protective functions.
  • Architectural coatings are used in the applications from commercial purposes, such as office buildings, warehouses, retail convenience stores, and shopping malls to residential buildings. Such coatings can be applied on the outer surfaces as well as inner surfaces and include sealers, or specialty products. The architectural coatings can be mainly divided into interior and exterior coatings.
  • Durability, hide, stain resistance and low VOC are some of the integral functionalities in every interior paint formulations. They are not only used in decorative purpose but also used for wide range of functionalities depending on the type of environment in which they are used. For example, because of moisture, bathroom walls need to have wipe-ability for keeping them clean. Paints with glossier sheens have a tighter molecular structure than flat paints, making it more difficult for moisture to penetrate. So, these types of paints are used in bathroom.
  • In living room and bedroom walls, most homeowners prefer to use the color of their choices. Acrylic paints are the preferred choice for living and bedroom walls, as they offer a wide variety of choices, in terms of color and shade. In the case of ceiling, a vast majority of ceilings are painted flat white so that they may reflect majority of the ambient light in the room, to make the resident feel that the room is spacious and relaxed. Basement masonry walls can often weep water. Elastomeric paints that expand on pressure are used in this area to prevent water leakage.
  • Paints and coatings for exterior walls, looks for ease of application, durability along with protection against extreme weather from rain to hot summer heat. Modern advances in paint technology, especially in the acrylic formulations has offered a wide range of weatherproof coatings.
  • In Middle east and Africa, the major concern for exterior paints are heat and UV exposure. In order to overcome heat build up paint companies have started using IR Reflective pigments as it provides high reflection of heat in the desert.
  • Construction activity plays a significant role in regional economic development in the Middle East. The construction industry in the Middle East has been steadily coming in track, since 2014.
  • Construction demand is expected to be strongest in Saudi Arabia, followed by Iran, Iraq, and the United Arab Emirates along with Qatar and Kuwait. In 2019, a total of USD 102.3 billion worth of projects were processed across all GCC countries compared to USD 101.8 billion in 2018.
  • Saudi Arabia in particular, which has been active in pursuing both social and economic reform, has launched a variety of megaprojects, including the Red Sea Project, Quiddiya Entertainment City, Project NEOM and Diriyah Gate, which have a combined value of US$532B. However, these project are expected to finance by part sale of Saudi Aramco which has been delayed as reports suggest that only US$25bn was raised till now in contrast to expected USD 500 billion.
  • Even though South Africa is falling short on its construction targets, Nigeria construction industry is growing at a decent pace. Overall the demand for the paints and coatings market from construction is expected to be sluggish in short term due to COVID-19, while growth picking up during the later part of study period.

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Egypt to Drive the Market Growth

  • The real GDP growth increased in Egypt to 5.6% in 2019 (ending June 30, 2019), as compared to 4.6% in the previous three years. This robust performance was sustained throughout the first half of 2020, driven mainly by investments. Due to the impact of COVID-19, the government reduced its GDP growth forecast for the fiscal year ending in June 2020 to 5.1%, from 5.6%, as the COVID-19 outbreak took a toll on the global economy. The government projected the country’s GDP to grow at an annual clip of at least 5.5% over the next few years.
  • Egypt has the largest construction industry in the African region. Furthermore, the construction industry is expected to witness significant growth, owing to the increasing foreign investments in several construction projects. 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.
  • In 2019, Egypt completed the construction of 14 new cities under the name “Fourth Generation Cities”. The total area of these 14 new cities is around 380 thousand acres, representing 50% of the total area of urban communities that were implemented during the past four decades.
  • Egypt is building a new capital, designed to be the country's new administrative hub and home to more than 6.5 million residents. In March of 2019, the ministry of Housing and Urban Utilities announced that the construction of over 40,000 housing units and various other facilities and service projects at the New Administrative Capital will be completed by the end of June 2020.
  • In January of 2020, Egypt has officially begun the construction of Middle East’s largest integrated private medical city, with an investment of over USD 1 billion.
  • Additionally, Egypt has around 1,400 construction projects of which almost 70% of the projects are in the advanced stage and remaining in the initial stage. Furthermore, there are upcoming projects in Mountain View iCityin New Cairo.
  • Besides, in 2018, according to New Urban Communities Authority (NUCA), the government planned to build about 26 new cities in the country, including New Alamein City, New Luxor, and New Administrative Capital. This is likely to accommodate about 30 million people in the country. The new cities are planned to be developed in Giza, Dakahlia, Port Said, Matrouh, Beheira, Cairo, North Sinai, Assiut, Beni Suef, Minya, Luxor, Qena, and Aswan.
  • While these new cities are being developed considering the congested infrastructure in the country, the government also intends to develop domestic infrastructure. In this regard, the country is looking forward to the issuance of infrastructure bonds to fund infrastructure projects, while seems as a viable option to the government at present.
  • International companies are seizing investment opportunities in the Egyptian petrochemical sector after a series of gas discoveries the past five years. There have been record levels of gas production in Egypt with about 7.2 billion cubic feet a day, helping the country reach self-sufficiency for natural gas, a key base material for the petrochemical and fertilizer industries for which global demand is constantly growing.

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Competitive Landscape

Middle-East and Africa paints and coatings market is a fragmented market, with the top five players contributing to more than 30% of the market share. Key players in the market include Akzo Nobel N.V., Jazeera Paints, Jotun, PPG Industries, Inc., and National Paints Factories Co. Ltd, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increased Focus on Tourism and Construction in the Middle Eastern Region

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Unfavourable Conditions Arising Due To Covid-19 Outbreak

      2. 4.2.2 Slowdown In Automotive Industry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Alkyd

      3. 5.1.3 Polyurethane

      4. 5.1.4 Epoxy

      5. 5.1.5 Polyester

      6. 5.1.6 Other Resin Types

    2. 5.2 Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Radiation Cure

      4. 5.2.4 Other Technologies

    3. 5.3 End-user

      1. 5.3.1 Architectural

      2. 5.3.2 Automotive

      3. 5.3.3 Wood

      4. 5.3.4 Industrial

      5. 5.3.5 Other End-users

    4. 5.4 Geography

      1. 5.4.1 Saudi Arabia

      2. 5.4.2 Qatar

      3. 5.4.3 Kuwait

      4. 5.4.4 United Arab Emirates

      5. 5.4.5 Iran

      6. 5.4.6 Iraq

      7. 5.4.7 Nigeria

      8. 5.4.8 South Africa

      9. 5.4.9 Tanzania

      10. 5.4.10 Kenya

      11. 5.4.11 Algeria

      12. 5.4.12 Morocco

      13. 5.4.13 Egypt

      14. 5.4.14 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel N.V.

      2. 6.4.2 Al-Tabieaa Company

      3. 6.4.3 Asian Paints BERGER

      4. 6.4.4 ATLAS Peintures

      5. 6.4.5 Basco Paints

      6. 6.4.6 BASF SE

      7. 6.4.7 Beckers Group

      8. 6.4.8 Crown Paints Kenya PLC

      9. 6.4.9 DAW SE (Caparol)

      10. 6.4.10 Hempel A/S

      11. 6.4.11 Jazeera Paints

      12. 6.4.12 Jotun

      13. 6.4.13 Kansai Paint Co. Ltd

      14. 6.4.14 National Paints Factories Co. Ltd

      15. 6.4.15 PACHIN

      16. 6.4.16 PPG Industries, Inc.

      17. 6.4.17 RPM International Inc.

      18. 6.4.18 Saba Shimi Aria

      19. 6.4.19 scib paints

      20. 6.4.20 Terraco Holdings Limited

      21. 6.4.21 Thermalite Middle East

      22. 6.4.22 The Sherwin-Williams Company

      23. 6.4.23 Wacker Chemie AG

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand for Eco-friendly Products

    2. 7.2 Plans for New Luxury Real Estate Projects in Qatar

    3. 7.3 Growth Prospects in Oman

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