MEA Paints and Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Paints and Coatings Market Analysis
The Middle East and Africa Paints and Coatings Market is estimated to register a CAGR of over 3% over the forecast period.
The market was impacted due to the COVID-19 pandemic in 2020. However, the market witnessed growth in 2021 owing to increasing infrastructure demand in various regions. Construction, automotive and transportation, and the wood sectors all employ paints and coatings. They have a significant application in the building and construction business, where they are used to protect structures from external harm. Furthermore, the market is expected to expand in the coming years as governments focus on boosting public spending to undertake new projects.
- A major factor driving the market studied is the increased focus on tourism and construction in the Middle East.
- On the flip side, the slowdown in the automotive sector is expected to hinder the market's growth.
- Architectural coatings dominated the market, and the segment is expected to grow during the forecast period, owing to the increasing construction activities across the region.
- Rising demand for eco-friendly products, growth prospects in Oman, and plans for new luxury real estate projects in Qatar are likely to act as an opportunity for the market studied.
MEA Paints and Coatings Market Trends
This section covers the major market trends shaping the MEA Paints & Coatings Market according to our research experts:
Increasing Demand from the Architectural Sector
- Architectural paints and coatings make up the vast majority of the paints and coatings market. Architectural coatings are used to protect and embellish the characteristics of a building's exterior. They are used to coat structures and residences. Architectural coatings are utilized in various applications, including commercial buildings, warehouses, retail convenience shops, shopping malls, and residential structures.
- The UAE government's strong dedication and resources have established several mega-project prospects for construction and engineering firms. For instance, mega construction projects like the redevelopment of Mina Rashid in Dubai and the Dubai International Financial Centre Expansion 2.0 have all recently been announced.
- The Riyadh Metro Project is the largest metro project in Saudi Arabia which aims to establish six metro lines with a total distance coverage of 176 km. It will be managed by Arriyadh Development Authority (ADA) and served by 85 stations, including several interchange stations.
- Qatar developed major infrastructure projects for the FIFA World Cup in 2022. Al Bayt Stadium and Khalifa International Stadium was one of those construction projects with a capacity of 60,000 seats.
- Massive housing and infrastructure developments in Saudi Arabia and ongoing construction in Qatar, Dubai, and Abu Dhabi are all driving demand for paints and coatings in the region.
- In South Africa, Modderfontein New City is a Chinese-funded USD 8 billion city that is being built in Modderfontein, Johannesburg-South Africa. The project will occupy 1,600-hectare land between OR Tambo International Airport and Sandton. The city will include nine functional zones, the central business district, international conference and exhibition center, silver industry and retirement industry, an entertainment center, international residential community, sports center, education and training center, trade and logistic park, and light industry park.
Egypt to Witness Lucrative Market Growth
- Egypt has the most-developed building sector in Africa. In addition, the construction sector is predicted to develop significantly due to increased foreign investments in several building projects. Egypt's construction sector has been one of the fastest-growing in the world, rising at a rate of over 9% per year during the last several years. Construction projects in the nation accounted for around 10% of all African construction projects.
- As reported by the Egyptian Ministry of Finance, the country's building and construction industry represent approximately 16.2% of the country's GDP. This is boosting the paints and coatings market in the country.
- Egypt is building a massive New Administrative Capital (NAC) about 50 km east of the 1,000-year-old capital Cairo on a tract of the desert the size of Singapore. Building projects in Egypt's New Administrative Capital (NAC) were expected to kick up in 2022, resulting in a construction boom. The city is expected to cost over USD 45 billion and has been hailed as a solution to overcrowding in Cairo, with a population of more than 20 million people.
- Egypt has automobile manufacturing units set up by prominent market leaders operating across the globe. These include GM, BMW, Hyundai, Toyota, and others. The growing demand for passenger cars and light commercial vehicles in the country is expected to upscale the production of auto vehicles, thereby likely to support the market demand.
- According to the OICA, the production of passenger vehicles in Egypt increased significantly from 2017 to 2021.
- Further, Egypt has the most significant construction industry in the African region. The construction industry is growing in the country; as reported by the Egyptian Ministry of Finance, the country's building and construction industry represents approximately 16.2% of the country's GDP.
MEA Paints and Coatings Industry Overview
The paints and coatings market in the Middle East and Africa is fragmented. Key players in the market include (not in any particular order) Akzo Nobel NV, Jazeera Paints, Jotun, PPG Industries Inc., and National Paints Factories Co. Ltd, among others.
MEA Paints and Coatings Market Leaders
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Akzo Nobel N.V.
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Jotun
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Jazeera Paints
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PPG Industries, Inc.
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National Paints Factories Co. Ltd
*Disclaimer: Major Players sorted in no particular order
MEA Paints and Coatings Market News
- In August 2022, Jazeera Paints, a manufacturer of paints, colors, and construction solutions in the Middle East and North Africa, opened its sixth showroom in Iraq. The new showroom will serve its needs for high-quality paints and construction solutions.
- In February 2022, PPG agreed to buy Arsonsisi's Powder Coatings Manufacturing Business. PPG will be able to expand its powder coatings offering in Europe, the Middle East, and Africa (EMEA) to include metallic bonding, which is one of the fastest-growing markets for powder coatings used in specialty finishes for the automotive, appliance, and general industrial applications, once the deal is completed.
MEA Paints and Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increased Focus on Tourism and Construction in the Middle-East
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Slowdown in Automotive Sector
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Sixr
5.1 Resin Type
5.1.1 Acrylic
5.1.2 Alkyd
5.1.3 Polyurethane
5.1.4 Epoxy
5.1.5 Polyester
5.1.6 Other Resin Types
5.2 Technology
5.2.1 Water-borne
5.2.2 Solvent-borne
5.2.3 Radiation Cure
5.2.4 Other Technologies
5.3 End-user Industry
5.3.1 Architectural
5.3.2 Automotive
5.3.3 Wood
5.3.4 Industrial
5.3.5 Other End-user Industries
5.4 Geography
5.4.1 Saudi Arabia
5.4.2 Qatar
5.4.3 Kuwait
5.4.4 United Arab Emirates
5.4.5 Iran
5.4.6 Iraq
5.4.7 Nigeria
5.4.8 South Africa
5.4.9 Turkey
5.4.10 Tanzania
5.4.11 Kenya
5.4.12 Algeria
5.4.13 Morocco
5.4.14 Egypt
5.4.15 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Al-Tabieaa Company
6.4.2 Akzo Nobel NV
6.4.3 Asian Paints BERGER
6.4.4 ATLAS Peintures
6.4.5 BASF SE
6.4.6 Basco Paints
6.4.7 Beckers Group
6.4.8 Crown Paints Kenya PLC
6.4.9 DAW SE (Caparol)
6.4.10 Hempel AS
6.4.11 Jazeera Paints
6.4.12 Jotun
6.4.13 Kansai Paint Co. Ltd.
6.4.14 National Paint Factories Co. Ltd.
6.4.15 Betek Boya Kimya ve Sanayi AS (Nippon Paint Holdings Co. Ltd.)
6.4.16 PACHIN
6.4.17 PPG Industries Inc.
6.4.18 The Sherwin-Williams Company
6.4.19 RPM International Inc.
6.4.20 Wacker Chemie AG
6.4.21 Saba Shimi Aria
6.4.22 Scib Paints
6.4.23 Terraco Holdings Limited
6.4.24 Thermilate Middle East
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand for Eco-friendly Products
7.2 Plans for New Luxury Real Estate Projects in Qatar
7.3 Growth Prospects in Oman
MEA Paints and Coatings Industry Segmentation
Paints and coatings protect the interiors and exteriors of homes from scorching summers, cold winters, soaking rain, and UV radiation, among other things. The market is segmented by resin type, technology, end-user industry, and geography. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, radiation cure, and other technologies. By end-user industry, the market is segmented into architectural, automotive, wood, industrial, and other end-user industries. The report also covers the market size and forecast for the Middle-east and African paints and coatings market in 13 countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD million).
| Resin Type | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types |
| Technology | |
| Water-borne | |
| Solvent-borne | |
| Radiation Cure | |
| Other Technologies |
| End-user Industry | |
| Architectural | |
| Automotive | |
| Wood | |
| Industrial | |
| Other End-user Industries |
| Geography | |
| Saudi Arabia | |
| Qatar | |
| Kuwait | |
| United Arab Emirates | |
| Iran | |
| Iraq | |
| Nigeria | |
| South Africa | |
| Turkey | |
| Tanzania | |
| Kenya | |
| Algeria | |
| Morocco | |
| Egypt | |
| Rest of Middle-East and Africa |
MEA Paints and Coatings Market Research FAQs
What is the current Middle-East and Africa Paints and Coatings Market size?
The Middle-East and Africa Paints and Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Paints and Coatings Market?
Akzo Nobel N.V., Jotun, Jazeera Paints, PPG Industries, Inc. and National Paints Factories Co. Ltd are the major companies operating in the Middle-East and Africa Paints and Coatings Market.
What years does this Middle-East and Africa Paints and Coatings Market cover?
The report covers the Middle-East and Africa Paints and Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle-East and Africa Paints and Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
MEA Paints and Coatings Industry Report
Statistics for the 2024 MEA Paints and Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. MEA Paints and Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
