Nigeria Protective Coatings Market - Segmented by Resin Type, Technology, End User, and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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The Nigeria protective coatings market is estimated to register a CAGR of about 4.2% over the forecast period. The infrastructure segment of the market is estimated to occupy the largest share among all end users.  By type, epoxy resin is estimated to be the fastest growing in the region

Increasing Off-shore Drilling Activities Set to Propel the Market Growth

Nigeria, along with Angola, is expected to lead the Africa’s off-shore drilling activities. As of 2015, Nigeria had around nine off-shore projects lined up, which are expected to be completed by 2020. Some of the major factors, which have helped the initiation of these projects, include the availability of raw materials and local manufacturing capabilities. Moreover, these off-shore projects are being sanctioned by the international oil companies, which include Chevron, ExxonMobil, and Eni SPA, among others. All these factors are expected to result in a robust growth of the market during the forecast period

Epoxy to Account for the Largest Share of the Resin Type Segment during the Forecast Period

By type, the epoxy resin held a share of about 20% of the total market in 2017 and is also expected to be the fastest growing resin type. Epoxy resins majorly find application in the oil & gas sector and infrastructure coating segment. The increasing offshore oil drilling activities in the region can be closely linked with the growth of these type of resins. Moreover, epoxy coatings are generally used in a combination with powder coatings, thus maintaining the no-VOC emission policy, which can further boost the market growth.


Notable Developments in the Market

  • There is no notable development in the protective coatings market in Nigeria

Major Players: PCMN PLC, Meyer PLC, PPG Industries and Portland Paints, and Products Nigeria PLC, among others.

Reasons to Purchase this Report

  • To understand the impact of increasing stringent regulations on the market
  • Various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating technology in the market
  • Countries that are expected to witness the fastest growth rates during the forecast period
  • Identify the latest developments, market shares, and strategies that are employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction

              1.1 Scope of the Report

              1.2 Research Phases

              1.3 Study Deliverables

2. Executive Summary

3. Market Insights

              3.1 Industry Value Chain Analysis

              3.2 Industry Attractiveness – Porter’s Five Force Analysis

                             3.2.1 Bargaining Power of Suppliers

                             3.2.2 Bargaining Power of Consumers

                             3.2.3 Threat of New Entrants

                             3.2.4 Threat of Substitute Products and Services

                             3.2.5 Degree of Competition

4. Market Dynamics

              4.1 Drivers

                             4.1.1 Increase in off-shore oil drilling activities

                             4.1.2 Other Drivers

              4.2 Restraints

                             4.2.1 Regulations related to the VOCs

                             4.2.2 Rise in Prices of Raw Materials

              4.3 Opportunities

                             4.3.1 Growing Construction Activities in the Region

                             4.3.2 Other Opportunities

5. Market Segmentation and Analysis - (Market size, Growth, and forecast)

              5.1 By Resin Type

                             5.1.1 Epoxy

                             5.1.2 Polyester

                             5.1.3 Polyurethane

                             5.1.4 Vinyl Ester

                             5.1.5 Others

              5.2 By Technology

                             5.2.1 Water-borne

                             5.2.2 Solvent-borne

                             5.2.3 Powder Coatings

                             5.2.4 UV Cured

              5.3 By End User

                             5.3.1 Oil & Gas

                             5.3.2 Mining

                             5.3.3 Power

                             5.3.4 Infrastructure

                             5.3.5 Others

6. Future of the Market

7. Competitive Landscape

              7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

              7.2 Market Share Analysis**

              7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & services, Recent Developments, and Analyst View)

              8.1 Akzo Nobel NV

              8.2 Apex Paints Limited

              8.3 Berger Paints Nigeria PLC

              8.4 Chemical and Allied Products (CAP) PLC

              8.5 Chemstar Groups

              8.6 Eagle Paints

              8.7 Meyer PLC

              8.8 PCMN PLC

              8.9 Portland Paints & Products Nigeria PLC

              8.10 PPG Industries

              8.11 Premier Paints PLC

              8.12 President Paints Nigeria

              8.13 Prestige Paints Company Limited

              ..List not exhaustive

9. Disclaimer

**Subject to availability of public domain

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