Summary

The Middle East & Africa paints and coatings market has witnessed significant growth in recent years. The region's construction and infrastructure sectors have been driving the demand for paints and coatings due to rapid urbanization, population growth, and government investments in infrastructure projects. Additionally, the automotive, industrial, and oil and gas sectors contribute to the market's expansion. The Middle East & Africa region experiences extreme climate conditions, including high temperatures, intense sunlight, sandstorms, and high humidity in certain areas. These conditions pose challenges for coatings in terms of durability, color retention, and protection against UV radiation. Coating manufacturers in the Middle East & Africa region often develop specialized formulations that can withstand these harsh environmental factors. The Middle East & Africa region is culturally diverse, with a rich history and varied aesthetic preferences. Local architectural designs, traditional patterns, and colors influence the demand for decorative and architectural coatings. Paint manufacturers in the region often cater to these unique preferences, offering a wide range of colors and finishes that reflect the local culture and heritage. The Middle East & Africa region is known for its ambitious mega construction and infrastructure projects. Countries like the United Arab Emirates, Qatar, and Saudi Arabia have witnessed rapid urbanization and the development of iconic structures, such as skyscrapers, stadiums, airports, and shopping malls. These projects require specialized coatings for protection, aesthetics, and long-term durability. The Middle East & Africa region is home to major oil and gas producers, including Saudi Arabia, Iraq, Iran, and the United Arab Emirates. The presence of the oil and gas industry drives the demand for coatings used in refineries, pipelines, storage tanks, and offshore structures. These coatings must withstand harsh chemicals, high temperatures, and corrosive environments.

According to the research report, “Middle East & Africa Paints & Coatings Market Outlook, 2028” published by Bonafide Research, the market is expected to cross USD 17 Billion by 2028. Urbanization and infrastructure are the answers to the growth in developing countries. Since urbanization and infrastructure contribute majorly to the economic growth of the developed countries, it increases the high growth and potential in developing countries as well. This high growth in developing countries has a great impact on the paints & coatings market, due to the rapid increase in business investment. Thus, the increasing demand for paints & coatings from emerging economies has had a positive impact on market growth. An increase in Tourism coupled with the rise in the construction of Hotels and restaurants are the key market drivers of this industry. Rising investments in executing existing construction plans, as well as the development of manufacturing hubs that manufacture products meant for export-oriented industries, such as food and beverages, oil and oil products, and assembled machinery, is likely to propel the demand. Growing utilization of epoxy-based paints and coatings in manufacturing industries for general application to induce regular corrosion protection is relied upon to drive the business development over the forecast time frame. Additional advantages of epoxy-based coatings, for example, enhanced sturdiness and strength is anticipated to further fuel the demand over the next seven years.

Mega-cities like Dubai have seen a surge in the hospitality market and the trend is expected to continue in the coming years. This is indirectly projected to propel the requirement for coatings over the forecast period as initiatives such as the nine-point plan, which focuses on the effective implementation of higher-impact industrial action policies, are likely to support industrial development, enabling the growth of manufacturing hubs across Africa. As countries like Saudi Arabia are rapidly developing their urban infrastructure, the growing investment in business complexes, corporate offices, as well as luxury hotels is anticipated to fuel the demand for protective coatings over the forecast period. Such investments include the Dubai Water Canal, the Expo2020, Dubai Parks and Resorts, and the IMG Worlds of Adventure, which are likely to attract more tourists - domestic as well as foreign - creating a demand for luxury hotels. The largest national market in the Middle East is Saudi Arabia, which supplies about half of the region's demand for paints and coatings. The country has announced a comprehensive reform strategy as part of its Vision 2030, which the International Monetary Fund (IMF) claims will likely lead to robust growth over the medium term once fundamental improvements are finished. Substantial growth in the construction and architectural sector and developing mega projects, the Red Sea Project, and the Qiddiya entertainment city all these development in country are expected to boost the sales of paints and coatings in Saudi Arabia. Demand for resins will likely increase due to the rising infrastructure and commercial construction spending in developing economies and the adoption of building information modeling (BIM). The country's social infrastructure is the subject of extensive government plans. The country's commercial building construction activities are anticipated to increase due to government and private investments in various sectors.

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.

Rising industrialization combined with the developing utilization of steel in-plant fabrication is likely to be the key growth driver for corrosion protection coatings over the projected time frame. However, its highly toxic nature due to the presence of high VOC content and higher combustibility is anticipated to limit the market growth over the next seven years. Besides, advancement in developing environment-friendly water-borne products as a substitute for solvent-borne products is expected to pose a challenge to the market growth. Waterborne products represented more than 43% of the market share in 2022 in terms of volume. Advantages over solvent-borne products including lesser toxicity with enhanced air quality and brighter appearance are likely to drive the demand over the forecast years. Rising application scope in all the end-use industrial applications including general automotive OEM, general industrial sheet metal packaging, and refinishing of automotive is anticipated to fuel the market. On the other hand, powder-based products accounted for over 5% of the market share in terms of volume in 2022. The demand for powder-based products is expected to witness significant growth primarily owing to its superior properties over conventional paints including high resistivity towards corrosion and chipping and abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time. High adoption of the technology in the construction sector on account of low operational costs, excellent performance wide color availability, and custom properties such as anti-bacterial and anti-corrosion functions will facilitate market growth by 2028.

Based on the applications, the Architectural segment is the key segment for the paints and coating market in the Middle East. In the architectural industry, household homes, and other construction projects, paints and coatings are widely employed for both interior and exterior applications. They are used to restyle and shield the exterior of the house from UV rays, soaking rain, and sweltering summer and winter temperatures (without fading, peeling away, and cracking the exteriors). Middle Eastern countries are one of the fastest-growing markets for the construction industry due to the presence of fast-growing economies, which are witnessing increasing spending on residential, commercial as well as institutional construction markets. 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. A rise in the demand for protective coatings in the form of solvent, waterborne, and powder in automotive, oil and gas, and marine applications is expected to fuel growth. Emerging regional players especially in developing countries are estimated to gain ample opportunities to enter the market. A rise in government initiatives coupled with foreign investment in developing automotive, construction, and power sectors mainly in Saudi Arabia, South Africa, and Oman is further expected to propel product demand. As of 2017, PPG Industries, Jotun A/S, and BASF Coatings were the leading manufacturers. BASF is involved in manufacturing chemicals, plastics, performance products, and coatings. The BASF group operates in over 80 countries. In June 2016, BASF signed an agreement to acquire a German company Chemetall which produces metal surface coatings for USD 3.2 billion.

Marine paints and coatings are utilized on a wide range of vessels, including freight and business ships. Marine polyurethane paints and coatings are utilized in business and recreation creates as well as on seaward designs, for example, big hauler stages, pipelines, oil apparatuses, and storage spaces. The marine paints and coatings have hostile to erosion and fouling properties. They likewise give different benefits, like magnificent oil and synthetic obstruction, protection from yellowing and corruption by daylight, water opposition, and scraped spot obstruction. The anti-fouling coating gives the equipment a long-lasting, tin-free coating that makes it robust and bright. This coating can be used on glass, steel, or wood and is effective in a variety of climates. It guards against corrosion and works best in freshwater and saltwater environments. Some marine coating products are Akzo Nobel International Perfection Gloss, Hempel Ocean Performer 7110E, and Jotun Jotaguard 690. The expanded interest in paints and coatings in marine ventures is improving the development of the paints and coatings market. In the aerospace industry, paints and coatings are used extensively in numerous applications such as commercial aviation and defense. In a single aircraft, which is an assembly of specific components, paints & coatings, especially the protective ones, are used for – interior paints & coatings system, fuel tank paints & coatings, anti-chafe paints & coatings, exterior topcoats, conductive paints & coatings, wing paints & coatings, intermediate paints & coatings, corrosion inhibitive paints & coatings and color design.

Recent Developments:

• On August 8, 2022, Jazeera Paints, the leading manufacturer of paints, colors, and construction solutions in the Middle East and North Africa opened its sixth showroom in Iraq. The new showroom is close to other towns such as Qaladze, Dukan, Chwar Qwrna, Sangasar, and Hajiawa, and will also serve their needs for high-quality paints and construction.

• On 1 August 2022, PPG announced PPG INNOVEL® PRO, an enhanced internal spray coating that uses no bisphenol-A (BPA) or bisphenol starting substances and provides more robust application properties for the infinitely recyclable aluminum beverage can.

• 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.

Major Companies present in the market:

Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, Cabot Corporation, Wacker Chemie AG, BASF SE, Hempel A/S, Kansai Paint Co.,Ltd., Noroo paint & coatings Co., Ltd., RPM International Inc, Henkel AG & Co. KGaA, Terraco Group Limited, Jotun Group, Sika AG, DAW SE, Asian Paints Ltd

Considered in this report

• Geography: Middle East & Africa
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Middle East & Africa Paints & Coatings market with its value and forecast along with its segments
• Country-wise Paints & Coatings market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• UAE
• Saudi Arabia
• South Africa

By Product Type

• Waterborne Coatings
• Solvent-borne Coatings
• Powder Coatings
• UV Cured Coatings
• Others Segment Includes (Speciality Coating (Primer, Topcoat, Undercoat, etc.), Electron Beam Cure coating, High Solids Coatings, etc.)

By Application Type

• Architectural
• Industrial
 Protective Coatings
 Automotive (OEM and After) Coatings
 Other Transportation Coatings
 Wood Coatings
 Marine Coatings
 Coil Coatings
 Packaging Coatings
 Aerospace Coatings
 Rail Coatings
 General Industrial Coatings
 Others Coatings

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Paints & Coatings industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.




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Table of Contents

Table of Contents

1. Executive Summary
2. Research Methodology
2.1. Secondary Research
2.2. Primary Data Collection
2.3. Market Formation & Validation
2.4. Report Writing, Quality Check & Delivery
3. Market Structure
3.1. Market Considerate
3.2. Assumptions
3.3. Limitations
3.4. Abbreviations
3.5. Sources
3.6. Definitions
4. Economic /Demographic Snapshot
5. Global Paints & Coatings Market Outlook
5.1. Market Size By Value
5.2. Market Share By Region
5.3. Market Size and Forecast, By Product Type
5.4. Market Size and Forecast, By Application Type
5.5. Market Size and Forecast, By Industrial Application
5.6. Market Size and Forecast, By Resin Type
6. Middle East & Africa Paints & Coatings Market Outlook
6.1. Market Size By Value
6.2. Market Share By Country
6.3. Market Size and Forecast, By Product Type
6.4. Market Size and Forecast, By Application Type
6.5. Market Size and Forecast, By Industrial Application
6.6. Market Dynamics
6.6.1. Market Drivers & Opportunities
6.6.2. Market Restraints & Challenges
6.6.3. Market Trends
6.6.4. Covid-19 Effect
6.6.5. Supply chain Analysis
6.6.6. Policy & Regulatory Framework
6.6.7. Industry Experts Views
6.7. UAE Paints & Coatings Market Outlook
6.7.1. Market Size By Value
6.7.2. Market Size and Forecast By Product Type
6.7.3. Market Size and Forecast By Application Type
6.7.4. Market Size and Forecast By Industrial Application
6.8. Saudi Arabia Paints & Coatings Market Outlook
6.8.1. Market Size By Value
6.8.2. Market Size and Forecast By Product Type
6.8.3. Market Size and Forecast By Application Type
6.8.4. Market Size and Forecast By Industrial Application
6.9. South Africa Paints & Coatings Market Outlook
6.9.1. Market Size By Value
6.9.2. Market Size and Forecast By Product Type
6.9.3. Market Size and Forecast By Application Type
6.9.4. Market Size and Forecast By Industrial Application
7. Competitive Landscape
7.1. Competitive Dashboard
7.2. Business Strategies Adopted by Key Players
7.3. Key Players Market Positioning Matrix
7.4. Porter's Five Forces
7.5. Company Profile
7.5.1. Akzo Nobel N.V
7.5.1.1. Company Snapshot
7.5.1.2. Company Overview
7.5.1.3. Financial Highlights
7.5.1.4. Geographic Insights
7.5.1.5. Business Segment & Performance
7.5.1.6. Product Portfolio
7.5.1.7. Key Executives
7.5.1.8. Strategic Moves & Developments
7.5.2. PPG Industries, Inc.
7.5.3. The Sherwin-Williams Company
7.5.4. Cabot Corporation
7.5.5. Wacker Chemie AG
7.5.6. BASF SE
7.5.7. Hempel A/S
7.5.8. Kansai Paint Co.,Ltd.
7.5.9. NOROO PAINT & COATINGS CO.,LTD.
7.5.10. RPM International Inc
7.5.11. Henkel AG & Co. KGaA
7.5.12. Terraco Group Limited
7.5.13. Jotun Group
7.5.14. Sika AG
7.5.15. DAW SE
7.5.16. Asian Paints Ltd.
8. Strategic Recommendations
9. Annexure
9.1. FAQ`s
9.2. Notes
9.3. Related Reports
10. Disclaimer

List of Figures

Figure 1: Global Paints & Coatings Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Paints & Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Paints & Coatings Market Share By Region (2022)
Figure 6: Middle East & Africa Paints & Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: Middle East & Africa Paints & Coatings Market Share By Country (2022)
Figure 8: UAE Paints & Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Saudi Arabia Paints & Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: South Africa Paints & Coatings Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2022
Figure 12: Porter's Five Forces of Global Paints & Coatings Market

List of Tables

Table 1: Global Paints & Coatings Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2020
Table 3: Economic Snapshot of Other Prominent Countries 2020
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Paints & Coatings Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 6: Global Paints & Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 7: Global Paints & Coatings Market Size and Forecast, By Industrial Application (2017 to 2028F) (In USD Billion)
Table 8: Global Paints & Coatings Market Size and Forecast, By Resin Type (2017 to 2028F) (In USD Billion)
Table 9: Middle East & Africa Paints & Coatings Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 10: Middle East & Africa Paints & Coatings Market Size and Forecast, By Application Type (2017 to 2028F) (In USD Billion)
Table 11: Middle East & Africa Paints & Coatings Market Size and Forecast, By Industrial Application (2017 to 2028F) (In USD Billion)
Table 12: Influencing Factors for Global Paints & Coatings Market, 2022
Table 13: United Arab Emirates Paints & Coatings Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 14: United Arab Emirates Paints & Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 15: United Arab Emirates Paints & Coatings Market Size and Forecast By Industrial Application (2017 to 2028F) (In USD Billion)
Table 16: Saudi Arabia Paints & Coatings Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 17: Saudi Arabia Paints & Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 18: Saudi Arabia Paints & Coatings Market Size and Forecast By Industrial Application (2017 to 2028F) (In USD Billion)
Table 19: South Africa Paints & Coatings Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 20: South Africa Paints & Coatings Market Size and Forecast By Application Type (2017 to 2028F) (In USD Billion)
Table 21: South Africa Paints & Coatings Market Size and Forecast By Industrial Application (2017 to 2028F) (In USD Billion)