MEA Paint and Coatings Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Jan 2022 Pages: 120 SKU: IRTNTR72244

The paint and coatings market share in MEA is expected to increase by USD 2.55 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.13%.

This paint and coatings market in the MEA research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the paint and coatings market in MEA segmentation by application (architecture, packaging, wood, transport, and others) and geography (Saudi Arabia, Egypt (Arab Republic of Egypt), UAE, South Africa, and Rest of MEA). The MEA paint and coatings market report also offers information on several market vendors, including Akzo Nobel NV, Asian Paints Ltd., BASF SE, Jazeera Paints Co., Jotun AS, National Paints Factories Co. Ltd, PPG Industries Inc., RAR Holding Group., RPM International Inc., and The Sherwin-Williams Co. among others.

What will the Paint and Coatings Market Size in MEA be During the Forecast Period?

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Paint and Coatings Market in MEA: Key Drivers, Trends, and Challenges

The growth in the real estate and construction industry is notably driving the paint and coatings market growth in MEA, although factors such as increasing use of glass in buildings may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the paint and coatings industry in MEA. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Paint and Coatings Market Driver in MEA

The growth in the real estate and construction industry is one of the key drivers supporting the paint and coatings market growth in MEA. The surging population in MEA is fueling the demand for housing and other infrastructure. The highly reflective and seamless characteristics of architectural paints and coatings enhance their preference in construction applications. They are extensively used in interior as well as exterior finishing applications. Architectural paints and coatings such as acrylic coatings allow for the contraction and expansion of roofs and prevent water penetration during thermal expansion and contraction. Moreover, the rise in the number of single-person and two-person households across the world contributed to the growth in housing construction activities. These factors are expected to promote the growth of the paints and coatings market in the MEA during the forecast period.

Key Paint and Coatings Market Trend in MEA

The implementation of solar reflective coatings is another factor supporting the paint and coatings market growth in MEA. When sun rays strike the exteriors of buildings, the absorbed infrared light is converted into heat, which raises interior temperatures. This phenomenon gets compounded with smog, asphalt, and a lack of vegetation to create the heat island effect, which tends to increase air conditioning and other electricity costs. For mitigating the heat island effect, manufacturers started focusing on solar reflective coatings, which reflect infrared radiations as well as absorb the visible light. Acrylic coatings possess high solar radiation reflective properties. The long lifespan of these coatings is also increasing their adoption as solar reflective coatings, which, in turn, is expected to support the growth of the paints and coatings market in the MEA.

Key Paint And Coatings Market Challenge in MEA

The increasing use of glass in buildings is hindering the paint and coatings market growth in MEA. Glass facades are used in commercial spaces instead of brick and mortar walls to enable the utilization of natural light in place of or to assist artificial lighting systems. They are also increasingly used in residential constructions for aesthetic purposes, along with their other advantages. Thermal insulation properties of glass help in reducing the costs associated with the building's heating or cooling systems as it does not allow heat to enter or exit from the enclosed space. The use of glass in buildings replaces traditional brick and mortar wall structures and eludes the requirement of paints and coatings. Hence, the increased preference for glass in buildings will have a negative impact on the paints and coatings market in MEA.

This paint and coatings market in the MEA analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the paint and coatings market in MEA as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the paint and coatings market in MEA during the forecast period.

Who are the Major Paint and Coatings Market Vendors in MEA?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Akzo Nobel NV
  • Asian Paints Ltd.
  • BASF SE
  • Jazeera Paints Co.
  • Jotun AS
  • National Paints Factories Co. Ltd
  • PPG Industries Inc.
  • RAR Holding Group.
  • RPM International Inc.
  • The Sherwin-Williams Co.

 

This statistical study of the MEA paint and coatings market encompasses successful business strategies deployed by the key vendors. The paint and coatings market in MEA is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Jotun AS - The company offers indoor and outdoor colour paints and also provides colour design applications for paint combinations.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The paint and coatings market in the MEA forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Paint and Coatings Market in MEA Value Chain Analysis

Our report provides extensive information on the value chain analysis for the paint and coatings market in MEA, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the specialty chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Support activities
  • Innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Paint and Coatings Market in MEA?

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37% of the market's growth will originate from the Rest of MEA during the forecast period. Saudi Arabia, Egypt (Arab Republic of Egypt), UAE, and South Africa are the key markets for the paint and coatings market in MEA. Market growth in this region will be slower than the growth of the market in South Africa and Saudi Arabia.

Another key region offering significant growth opportunities to the vendors is Saudi Arabia. Most of the residential and non-residential projects require coatings with advanced features such as heat shielding and weather resistance. This will facilitate the paint and coatings market in MEA growth in Rest of MEA over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 outbreak in 2020 adversely impacted the market growth in Saudi Arabia. The increasing number of COVID-19 cases led to a temporary suspension of several construction projects such as the construction of the NEOM smart city. However, when the number of active COVID-19 cases declined in the second half of 2021, the markets, including the market in focus, reopened and returned to normalcy. Vaccination drives were being conducted with thoroughness, and social distancing was also maintained. As a result, the regional paints and coatings market is predicted to grow in MEA during the forecast period.

What are the Revenue-generating Application Segments in the Paint and Coatings Market in MEA?

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The paint and coatings market share growth in MEA by the architecture segment will be significant during the forecast period. The growing construction industry in the region and demand for aesthetically pleasing architectural designs for the building in MEA are supporting the growth of the paints and coatings market in MEA. They provide a unique texture to walls and impart sheen to the surfaces. Moreover, the demand for modern infrastructure to grow the tourism industry is growing at a fast pace which is boosting the demand for paints and coatings in architectural applications in MEA. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the paint and coatings market size in MEA and actionable market insights on post COVID-19 impact on each segment.

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Paint And Coatings Market Scope in MEA 

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.13%

Market growth 2022-2026

$ 2.55 billion

Market structure

Fragmented

YoY growth (%)

3.80

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Akzo Nobel NV, Asian Paints Ltd., BASF SE, Jazeera Paints Co., Jotun AS, National Paints Factories Co. Ltd, PPG Industries Inc., RAR Holding Group., RPM International Inc., and The Sherwin-Williams Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Paint and Coatings Market in MEA Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive paint and coatings market growth in MEA during the next five years
  • Precise estimation of the paint and coatings market size in MEA and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the paint and coatings industry in MEA 
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of paint and coatings market vendors in MEA 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key Finding 2

                              *Exhibit 03:  Key Finding 5

                              *Exhibit 04:  Key Finding 6

                              *Exhibit 05:  Key Finding 7

                              *Exhibit 06:  Key Finding 8

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *Exhibit 07:  Parent market

                              *Exhibit 08:  Market characteristics

               **2.2 Value chain analysis           

                              *Exhibit 09:  Value chain analysis- Global specialty chemicals market

                              *2.2.1 Inputs

                              *2.2.2 Inbound logistics

                              *2.2.3 Operations

                              *2.2.4 Outbound logistics

                              *2.2.5 Marketing and sales

                              *2.2.6 Support activities

                              *2.2.7 Industry innovation

***3. Market Sizing                      

               **3.1 Market definition

                              *Exhibit 10:  Offerings of vendors included in the market definition

               **3.2 Market segment analysis  

                              *Exhibit 11:  Market segments

               **3.3 Market size 2021 

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *3.4.1 Estimating growth rates for emerging and high-growth markets

                              *3.4.2 Estimating growth rates for mature markets

                              *Exhibit 12:  Global - Market size and forecast 2021 - 2026 ($ million)

                              *Exhibit 13:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 14:  Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 15:  Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 16: Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 17: Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 18: Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 19: Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 20:  Market condition - Five forces 2021

***5 Market Segmentation by Application                        

               **5.1 Market segments

                              *Exhibit 21:  Application - Market share 2021-2026 (%)

               **5.2 Comparison by Application             

                              *Exhibit 22:  Comparison by Application

               **5.3 Architecture - Market size and forecast 2021-2026              

                              *Exhibit 23:  Architecture - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 24:  Architecture - Year-over-year growth 2021-2026 (%)

               **5.4 Packaging - Market size and forecast 2021-2026    

                              *Exhibit 25:  Packaging - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 26:  Packaging - Year-over-year growth 2021-2026 (%)

               **5.5 Wood - Market size and forecast 2021-2026           

                              *Exhibit 27:  Wood - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 28:  Wood - Year-over-year growth 2021-2026 (%)

               **5.6 Transport - Market size and forecast 2021-2026     

                              *Exhibit 29:  Transport - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 30:  Transport - Year-over-year growth 2021-2026 (%)

               **5.7 Others - Market size and forecast 2021-2026          

                              *Exhibit 31:  Others - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 32:  Others - Year-over-year growth 2021-2026 (%)

               **5.8 Market opportunity by Application              

                              *Exhibit 33:  Market opportunity by Application

***6. Customer landscape                        

               **6.1 Overview

                              *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                              *Exhibit 34: ?Customer landscape?

***7. Geographic Landscape                    

               **7.1 Geographic segmentation

                              *Exhibit 35:  Market share by geography 2021-2026 (%)

               **7.2 Geographic comparison    

                              *Exhibit 36: Geographic comparison

               **7.3 Saudi Arabia - Market size and forecast 2021-2026              

                              *Exhibit 37:  Saudi Arabia - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 38:  Saudi Arabia - Year-over-year growth 2021-2026 (%)

               **7.4 Egypt (Arab Republic of Egypt) - Market size and forecast 2021-2026           

                              *Exhibit 39:  Egypt (Arab Republic of Egypt) - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 40:  Egypt (Arab Republic of Egypt) - Year-over-year growth 2021-2026 (%)

               **7.5 UAE - Market size and forecast 2021-2026

                              *Exhibit 41:  UAE - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 42:  UAE - Year-over-year growth 2021-2026 (%)

               **7.6 South Africa - Market size and forecast 2021-2026

                              *Exhibit 43:  South Africa - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 44:  South Africa - Year-over-year growth 2021-2026 (%)

               **7.7 Rest of MEA - Market size and forecast 2021-2026

                              *Exhibit 45:  Rest of MEA - Market size and forecast 2021-2026 ($ million)

                              *Exhibit 46:  Rest of MEA - Year-over-year growth 2021-2026 (%)

               **7.8 Key leading countries        

                              *Exhibit 47:  Key leading countries

               **7.9 Market opportunity by geography

                              *Exhibit 48:  Market opportunity by geography ($ million)

***8. Drivers, Challenges, and Trends                  

               **8.1 Market drivers      

                              *8.1.1 Growth in the real estate and construction industry

                              *8.1.2 Developments to increase the performance of coatings

                              *8.1.3 Technological advancements in powder coating technology

               **8.2 Market challenges              

                              *8.2.1 Increasing use of glass in buildings

                              *8.2.2 Requirement of more drying time for waterborne coatings

                              *8.2.3 Difficulty in obtaining thin films in powder coating

                              *Exhibit 49:  Impact of drivers and challenges

               **8.3 Market trends      

                              *8.3.1 Implementation of solar reflective coatings

                              *8.3.2 Developments to increase the performance of coatings

                              *8.3.3 Technological advancements in powder coating technology

***9. Vendor Landscape                            

               **9.1 Overview

                              *Exhibit 50: Vendor landscape

                              *The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

               **9.2 Landscape disruption         

                              *Exhibit 51: ?Landscape disruption?

                              *Exhibit 52: Industry risks

***10. Vendor Analysis               

               **10.1 Vendors covered              

                              *Exhibit 53: Vendors covered

               **10.2 Market positioning of vendors    

                              *Exhibit 54: ?Market positioning of vendors?

               **10.3 Akzo Nobel NV   

                              *Exhibit 55:  Akzo Nobel NV - Overview

                              *Exhibit 56:  Akzo Nobel NV - Business segments

                              *Exhibit 57:  Akzo Nobel NV - Key News

                              *Exhibit 58:  Akzo Nobel NV - Key offerings

                              *Exhibit 59:  Akzo Nobel NV - Segment focus

               **10.4 Asian Paints Ltd.

                              *Exhibit 60:  Asian Paints Ltd. - Overview

                              *Exhibit 61:  Asian Paints Ltd. - Business segments

                              *Exhibit 62:  Asian Paints Ltd. - Key offerings

                              *Exhibit 63:  Asian Paints Ltd. - Segment focus

               **10.5 BASF SE 

                              *Exhibit 64:  BASF SE - Overview

                              *Exhibit 65:  BASF SE - Business segments

                              *Exhibit 66:  BASF SE - Key offerings

                              *Exhibit 67:  BASF SE - Segment focus

               **10.6 Jazeera Paints Co.            

                              *Exhibit 68:  Jazeera Paints Co. - Overview

                              *Exhibit 69:  Jazeera Paints Co. - Product and service

                              *Exhibit 70:  Jazeera Paints Co. - Key offerings

               **10.7 Jotun AS

                              *Exhibit 71:  Jotun AS - Overview

                              *Exhibit 72:  Jotun AS - Business segments

                              *Exhibit 73:  Jotun AS - Key offerings

                              *Exhibit 74:  Jotun AS - Segment focus

               **10.8 National Paints Factories Co. Ltd

                              *Exhibit 75:  National Paints Factories Co. Ltd - Overview

                              *Exhibit 76:  National Paints Factories Co. Ltd - Product and service

                              *Exhibit 77:  National Paints Factories Co. Ltd - Key offerings

               **10.9 PPG Industries Inc.          

                              *Exhibit 78:  PPG Industries Inc. - Overview

                              *Exhibit 79:  PPG Industries Inc. - Business segments

                              *Exhibit 80:  PPG Industries Inc. - Key offerings

                              *Exhibit 81:  PPG Industries Inc. - Segment focus

               **10.10 RAR Holding Group.      

                              *Exhibit 82:  RAR Holding Group. - Overview

                              *Exhibit 83:  RAR Holding Group. - Product and service

                              *Exhibit 84:  RAR Holding Group. - Key offerings

               **10.11 RPM International Inc. 

                              *Exhibit 85:  RPM International Inc. - Overview

                              *Exhibit 86:  RPM International Inc. - Business segments

                              *Exhibit 87:  RPM International Inc. - Key offerings

                              *Exhibit 88:  RPM International Inc. - Segment focus

               **10.12 The Sherwin-Williams Co.          

                              *Exhibit 89:  The Sherwin-Williams Co. - Overview

                              *Exhibit 90:  The Sherwin-Williams Co. - Business segments

                              *Exhibit 91:  The Sherwin-Williams Co. - Key offerings

                              *Exhibit 92:  The Sherwin-Williams Co. - Segment focus

***11. Appendix                           

               **11.1 Scope of the report         

                              *11.1.1 ????Market definition

                              *11.1.2 ????Objectives

                              *11.1.3 Notes and Caveats

               **11.2 Currency conversion rates for US$            

                              *Exhibit 93: ?Currency conversion rates for US$?

               **11.3 Research Methodology   

                              *Exhibit 94: ?Research Methodology

                              *Exhibit 95: ??Validation techniques employed for market sizing?

                              *Exhibit 96: ??Information sources

               **11.4 List of abbreviations        

                              *Exhibit 97: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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