South Africa Protective Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 123.67 Million |
| Market Size (2029) | USD 139.30 Million |
| CAGR (2024 - 2029) | > 2.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Protective Coatings Market Analysis
The South Africa Protective Coatings Market size is estimated at USD 123.67 million in 2024, and is expected to reach USD 139.30 million by 2029, growing at a CAGR of greater than 2.30% during the forecast period (2024-2029).
The COVID-19 pandemic negatively affected the South African protective coatings market. The implementation of a nationwide lockdown in the country mainly affected the infrastructural construction, mining, oil and gas industries, thereby affecting the demand for protective coatings. However, post-COVID pandemic, the construction, mining, oil, and gas industries resumed their operation in South Africa, thereby creating a positive impact on the protective coatings market.
- The growing infrastructure and industrialization in South Africa and the increasing demand from the oil and gas industry are expected to drive the market.
- On the flip side, fluctuations in the prices of raw materials is expected to hinder the market's growth.
- The rising demand for powder coatings in various end-user industries is expected to create opportunities for the market during the forecast period.
South Africa Protective Coatings Market Trends
The infrastructure segment dominates the market
- Protective coatings applied to steel, which is commonly used for civil structures such as stadiums, transportation hubs, and public buildings, are the backbone of modern cities. Corrosion protection of steel bridges is important to maintain both structural performance and aesthetics over time, with protective coatings being the most common form of corrosion protection.
- Infrastructural activities are increasing in the South African region. According to the African Development Bank Group, the infrastructural investment index in the country has increased to 81.67 in the year 2022, compared to 80.19 registered in the previous year. The increasing infrastructural construction market is expected to drive the market for protective coatings.
- In June 2022, Radisson Hotel Group (RHG) opened a new Radisson Blu brand property in Durban, making it the group's 14th hotel in South Africa. RHG's portfolio in the country now includes 14 hotels in operation and two under construction. Similarly, in the first half of 2023, Radisson Hotel Group announced seven new hotels in the African region, which involves the construction of a new hotel in South Africa.
- Furthurmore, in October 2022, the Department of Public Works and Infrastructure (DPWI) laid out its plans to improve healthcare infrastructure across South Africa over the next few years. Also, for the government's future infrastructure plans, which include the construction of more healthcare facilities and clinics, as well as the maintenance or replacement of existing structures that have fallen into disarray, it will rely heavily on the private sector, including through the NHI (National Health Insurance).
- South Africa has a good network of rail and road infrastructure compared to other African countries, but the country is facing issues in maintaining the infrastructure. For this purpose, the government has budgeted USD 57.5 billion (ZAR 900 billion) to build and maintain the transport infrastructure until 2027.
- The South African government devised a "National Infrastructure Plan 2050," which focuses on delivering infrastructure development across energy, transport, digital communications, and water by 2050. Through 2040, USD 394.5 billion (ZAR 6.224 trillion) will be invested in infrastructure development.
- Thus, the infrastructure end-user segment will likely dominate the market during the forecast period.
The Power Generation Industry to Register Significant Growth rate
- Protective coatings are also extensively used in the power sector for mainly corrosion and heat resistance. Power generation can take any form, from wind, hydroelectric, and nuclear to fossil fuel facilities, each of which presents its challenges for protective coatings systems.
- In fossil fuel power systems like coal and natural gas, Protective coatings are extensively used for plant assets, including feed systems to the turbine, recovery, and water handling systems. Similarly, in hydroelectric power plants, corrosion protection coatings are used for critical parts, including conduits, penstocks, and metal water gates.
- Protective coatings are also extensively used in the wind sector, where they are used to protect and extend the operational life of onshore and offshore wind turbine installations, including towers and foundations, turbine component blades, and other equipment.
- According to the Ministry of Mineral Resources and Energy, South Africa's total domestic electricity generation capacity is 58,095 megawatts (MW) overall. Coal is the primary energy source for South Africa, comprising around 85 percent of the country's energy mix. In 2022, the country's total thermal production capacity is registered at 48,380 megawatts (MW). The increasing production capacity of thermal energy in the country is expected to drive the market for protective coatings in the country.
- Similarly, wind electricity generation is increasing in South Africa. In 2022, the wind energy capacity in South Africa corresponded to over 40 percent of Africa's total wind energy capacity. According to International Renewable Energy Agency (IRENA), the total wind energy generation capacity is registered at over 3 gigawatts. Furthurmore, the wind electricity generation in the country is anticipated to reach 17.742 gigawatts by the year 2030. Thus, the increase in the production capacity of wind energy is expected to drive the market for protective coatings in the country.
- Thus, the power generation end-user segment will likely register significant market growth during the forecast period.
South Africa Protective Coatings Industry Overview
The South Africa protective coatings market is partially consolidated in nature. Some of the major players in the market (not in any particular order) include Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., and Jotun, among others.
South Africa Protective Coatings Market Leaders
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Akzo Nobel N.V.
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Jotun
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PPG Industries, Inc.
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The Sherwin-Williams Company
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Nippon Paint Holdings Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
South Africa Protective Coatings Market News
- June 2022: Akzo Nobel N.V. made an agreement with Kansai Paint Company to acquire its paints and coatings business in the Africa region. The acquisition will help the company strengthen its position in the African coatings market.
South Africa Protective Coatings Market 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 Rising Investments in Infrastructure Projects in South Africa
4.1.2 Increasing Demand from South Africa Oil and Gas Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Fluctuations in the prices of Raw materials
4.2.2 Other Restraints
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 Buyers
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 Size in Value)
5.1 Resin Type
5.1.1 Acrylic
5.1.2 Epoxy
5.1.3 Alkyd
5.1.4 Polyurethane
5.1.5 Polyester
5.1.6 Others (Phenolic, PTFE, etc.)
5.2 Technology
5.2.1 Waterborne
5.2.2 Solventborne
5.2.3 Powder
5.2.4 UV-Cured
5.3 End-User Industry
5.3.1 Oil and Gas
5.3.2 Mining
5.3.3 Power
5.3.4 Infrastructure
5.3.5 Other End-User Industries (Water treatment, Marine, etc.)
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 Akzo Nobel N.V.
6.4.2 Axalta Coatings Systems
6.4.3 BASF SE
6.4.4 Dekro Paints
6.4.5 Duram Smart Paints
6.4.6 Ferro SA
6.4.7 Jotun
6.4.8 Nippon Paint Holdings Co., Ltd.
6.4.9 PPG Industries, Inc.
6.4.10 The Medal Paint
6.4.11 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The rising demand for Powder Coatings in Protective coatings end user industries.
South Africa Protective Coatings Industry Segmentation
Protective coatings are materials that are applied to the substrate surfaces of steel and concrete structures to protect them from corrosion and environmental damage. The market involves the usage of coatings on new designs as well as the maintenance of existing systems. These structures can include industrial, commercial, and public infrastructure but exclude house buildings and private apartments.
The South African protective coatings market is segmented by resin type, technology, and end-user industry. By resin type, the market is segmented into (Acrylic, Epoxy, Alkyd, Polyurethane, Polyester, and Others), by technology (Solvent-Borne, Waterborne, Powder, and UV-cured), and by end-user industry (Oil and Gas, Mining, Power, Infrastructure, and Other End-User Industries). For each segment, the market sizing and forecasts are based on Value (USD).
| Resin Type | |
| Acrylic | |
| Epoxy | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Others (Phenolic, PTFE, etc.) |
| Technology | |
| Waterborne | |
| Solventborne | |
| Powder | |
| UV-Cured |
| End-User Industry | |
| Oil and Gas | |
| Mining | |
| Power | |
| Infrastructure | |
| Other End-User Industries (Water treatment, Marine, etc.) |
South Africa Protective Coatings Market Market Research Faqs
How big is the South Africa Protective Coatings Market?
The South Africa Protective Coatings Market size is expected to reach USD 123.67 million in 2024 and grow at a CAGR of greater than 2.30% to reach USD 139.30 million by 2029.
What is the current South Africa Protective Coatings Market size?
In 2024, the South Africa Protective Coatings Market size is expected to reach USD 123.67 million.
Who are the key players in South Africa Protective Coatings Market?
Akzo Nobel N.V., Jotun, PPG Industries, Inc., The Sherwin-Williams Company and Nippon Paint Holdings Co., Ltd. are the major companies operating in the South Africa Protective Coatings Market.
What years does this South Africa Protective Coatings Market cover, and what was the market size in 2023?
In 2023, the South Africa Protective Coatings Market size was estimated at USD 120.83 million. The report covers the South Africa Protective Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Africa Protective Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Africa Protective Coatings Market Industry Report
Statistics for the 2024 South Africa Protective Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Africa Protective Coatings analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
