Middle East & Africa (MEA) Coil Coatings Market - Growth, Trends, and Forecast, (2019 – 2024).
The Market is segmented by Resin Type (Polyester, Polyvinylidene Fluorides, Polyurethane, Plastisols, and Other Resin Types), End-user Industry (Building and Construction, Industrial and Domestic Appliances, Transportation, Furniture, HVAC, and Other End-user Industries), and Geography.
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
The Middle East & Africa (MEA) coil coatings market is expected to register a CAGR of more than 6% during the forecast period, 2019-2024. Coil coatings find their application in the manufacturing of typical components, such as sheet and panels for containers, caravan and interior, insulated boxes, trailer bodies, roads, and railway coaches.
Rising demand from the building and construction industry is augmenting the growth of the market.
Increasing demand for lightweight materials in the automobile industry is likely to hinder the market growth.
Increasing demand for fluoropolymer coatings for architectural applications is projected to act as an opportunity for the market in the future.
Scope of the Report
The Middle East & Africa (MEA) coil coatings market report includes:
Polyvinylidene Fluorides (PVDF)
Other Resin Types
Building and Construction
Industrial and Domestic Appliances
Other End-user Industries
United Arab Emirates
Rest of Middle East & Africa
Report scope can be customized per your requirements. Click here.
Key Market Trends
Increasing Demand from Building & Construction Industry
The increasing demand of coil coatings is primarily due to its extensive use as coated material in end-user industries, such as construction, rapid industry development, urbanization, and increase in per capita income, along with rise in consumer spending.
Wood panels, roofs, metal sheets are some of the products, which are using in coating material for the construction industry. These products are also providing artistic appeal to commercial and residential buildings. Additionally, rising non-residential construction activities, including commercial building, manufacturing industries, and factories, have activated the demand for coil coatings to sustain in harsh weather conditions.
Coil coating is basically a multi-layer coating of pigments, resins, and primers that are used to coat metal sheets, such as aluminum and steel. They are used to protect the material against harsh environmental conditions and also for providing corrosion resistance.
The Middle East & Africa construction sector is expected to hold greater opportunities for digitization and revitalization of building assets, as well as adaptive modular design as a construction tool.
Saudi Arabia appears to be the most active country in the Middle East construction market. Saudi Arabian capital projects are estimated to worth around USD 2.1 trillion, followed by the United Arab Emirates with capital projects of USD 713 billion. Egypt and Kuwait have projects of worth USD 578 billion and USD 215 billion, respectively.
Whereas the construction market in the United Arab Emirates has managed to remain stable and present a positive trend till 2018. Dubai gained a lot of attention for the ongoing infrastructure projects, in order to accommodate the upcoming big events, such as Expo 2020.
Egypt is also one of the markets in the Middle East & African region that is characterized by stability and steady progress, owing to the accelerating demand and extension growth of the utilities and residential sectors.
Due to such factors, growth of coil coatings is expected to increase in the Middle East & African (MEA) region.
To understand key trends, Download Sample Report
Saudi Arabia Country to dominate the Market
The Kingdom of Saudi Arabia is a recovering economy, which slowed down in 2014, due to lower crude oil prices and the country’s regulatory policy. The GDP of Saudi Arabia increased by 2.2% in 2018.
The market openness and investment opportunities were limited, when compared with other emerging economies. However, the government, in its 10th development plan, is reforming its economic strategies, with investments in diversified sectors, and trying to attract private investments into the country, in order to make it a diversified economy that is not dependent on oil.
The country has generated large-scale projects worth USD 800 billion, to boost its infrastructure in the coming years. The government has expansive plans for the development of social infrastructure, transportation, and energy and utility construction in the country. The country’s primary growth in construction has been largely powered by the massive investments done by the government, and an increased inflow of FDI.
The other major end-user industry is automotive. Saudi is focusing on establishing itself as the new automotive hub in the Middle East. Although the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country, to develop the domestic auto industry.
Moreover, the country is experiencing a steady growth in new car sales in the market, which is expected to reach one million units by 2020, growing at a rate of 6.7% per annum. According to the General Authority for Statistics, the automotive industry is expected to witness a growth rate of around 4-5% annually, over the next decade.
The growing end-use sectors are anticipated to provide huge opportunities for the growth of the coil coatings market, in the coming years.
To understand geography trends, Download Sample Report.
The Middle East & Africa (MEA) coil coatings market is expected to be partially consolidated, with the top five-six players accounting for a significant chunk of the market. Key players in the Middle East & Africa (MEA) coil coatings market include AkzoNobel NV, Alcoa Corporation, Ralco Steels Private Limited, Tata Steel, and PPG Industries, among others.