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South Africa Protective Coatings Market Market Size (2024 - 2029)

The South Africa Protective Coatings Market is projected to experience growth over the forecast period, driven by the resurgence of the construction, mining, oil, and gas industries following the COVID-19 pandemic. The market's expansion is supported by increasing infrastructure and industrialization, along with a rising demand from the oil and gas sector. However, challenges such as fluctuations in raw material prices may impede growth. Despite these challenges, the growing interest in powder coatings across various end-user industries presents potential opportunities for market development.

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Market Size of South Africa Protective Coatings Industry

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South Africa Protective Coatings Market - Market Summary
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

South Africa Protective Coatings Market 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 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.)
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South Africa Protective Coatings Market Size Summary

The South Africa protective coatings market is poised for growth, driven by the resurgence of key industries such as construction, mining, and oil and gas following the disruptions caused by the COVID-19 pandemic. The market is expected to expand steadily over the forecast period, supported by increasing infrastructure development and industrialization in the region. Protective coatings play a crucial role in safeguarding steel structures, which are integral to civil infrastructure like stadiums and transportation hubs. The government's commitment to infrastructure projects, including the National Infrastructure Plan 2050, underscores the importance of protective coatings in maintaining and enhancing the durability of these assets. Additionally, the rising demand for powder coatings across various end-user industries presents new opportunities for market expansion.

In the power generation sector, protective coatings are essential for ensuring the longevity and efficiency of equipment used in coal, natural gas, and renewable energy facilities. South Africa's energy landscape, dominated by coal, is witnessing a shift with increasing investments in wind energy, which further fuels the demand for protective coatings. The market is characterized by a partially consolidated structure, with major players like Akzo Nobel N.V., PPG Industries, Inc., and The Sherwin-Williams Company leading the charge. Strategic moves, such as Akzo Nobel's acquisition of Kansai Paint Company's business in Africa, highlight the competitive dynamics and the focus on strengthening market presence. Despite challenges like raw material price fluctuations, the protective coatings market in South Africa is set to benefit from ongoing infrastructural and energy sector developments.

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South Africa Protective Coatings Market Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Investments in Infrastructure Projects in South Africa

      2. 1.1.2 Increasing Demand from South Africa Oil and Gas Industry

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Fluctuations in the prices of Raw materials

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Epoxy

      3. 2.1.3 Alkyd

      4. 2.1.4 Polyurethane

      5. 2.1.5 Polyester

      6. 2.1.6 Others (Phenolic, PTFE, etc.)

    2. 2.2 Technology

      1. 2.2.1 Waterborne

      2. 2.2.2 Solventborne

      3. 2.2.3 Powder

      4. 2.2.4 UV-Cured

    3. 2.3 End-User Industry

      1. 2.3.1 Oil and Gas

      2. 2.3.2 Mining

      3. 2.3.3 Power

      4. 2.3.4 Infrastructure

      5. 2.3.5 Other End-User Industries (Water treatment, Marine, etc.)

South Africa Protective Coatings Market Market Size FAQs

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.

In 2024, the South Africa Protective Coatings Market size is expected to reach USD 123.67 million.

South Africa Protective Coatings Market Report Snapshots

South Africa Protective Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)