Middle East And Africa Paints And Coatings Market Size By Application, By Competitive Landscape, By Geographic Scope And Forecast

Middle East And Africa Paints And Coatings Market Size And Forecast

Middle East And Africa Paints And Coatings Market size was valued at USD 3.23 Billion in 2024 and is projected to reach USD 4.23 Billion by 2031, growing at a CAGR of 3.42% during the forecast period 2024-2031.

An increase in Tourism coupled with the rise in the construction of Hotels and restaurants are the key market drivers of this industry. The Middle East And Africa report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Middle East And Africa Paints And Coatings Market Definition

Wow, did you know that almost a fifth of the world's people live in MEA (that's the Middle East and Africa)? Together, all their transactions add up to almost 10% of the whole world's GDP! Now, get thisthe American Coatings Association says MEA uses about 7% of all the coatings made globally. If you turn that into money, it's like 6% of the entire Global Coatings Market. So, who are the big players in MEA? Well, it's mostly Iran, Saudi Arabia, South Africa, Egypt, Nigeria, Algeria, Israel, UAE, and Qatar. These 10 countries alone make up around 70% of MEA's total GDP. They're also the biggest when it comes to paints and coatings. And speaking of paints and coatings, you'll find all sorts of resins in them, but the most common ones in MEA are Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, etc.

Middle East And Africa Paints And Coatings Market Overview

The construction industry is a significant contributor in the MEA region. For example, in Saudi Arabia, 8% of the GDP is contributed by the construction sector. Saudi Arabia has the largest Construction market in the entire MEA. Approximately USD 800 Billion worth of projects are lined up in the Middle East regions which are providing a great impetus to the growth of the Construction Sector which in turn is providing further fuel to the Paints and Coatings Industry. The government has also planned to further enhance the infrastructure, Transportation, Energy sectors which again requires Paint and Coatings.

Despite the hit the region took from Covid-19, there's a strong sense it's bouncing back, and that's really helping the construction industry. Housing demand is definitely up, adding fuel to the fire. Take Saudi Arabia, for instance—national infrastructure projects are giving the housing sector a real boost. And the automotive sector is also making big strides. That growth is, in turn, helping the paints and coatings market thrive. Believe it or not, according to the United Nations World Tourism Organization, the Middle East and North Africa welcomed about 87 Million Tourists back in 2018!

That's like saying 6% of all tourists went elsewhere! And get this, we saw a 10% jump in visits from 2017 to 2018. All that travel added up to a whopping USD 77 Billion. Turns out, most folks were checking out cultural heritage sites and religious spots. With tourism becoming a cool alternative to relying on oil, we've got to step up our game. We're talking world-class hotels, restaurants, and resorts to wow those international visitors. And to make them shine, we need top-notch paints and coatings. Basically, this tourism boom is a major driver for the whole coatings industry!

Covid-19 has impacted the growth of tourism as well as the construction sector. Nearly 24% downfall has been noticed in the Construction in terms of the revenue generated. the fall in the construction sector coupled with the fall in tourism due to the risk of infection from Corona Virus will act negatively in the upcoming days for the Paints and Coatings sector. However, there are plans to make luxurious real estate projects in Qatar. This will place a brilliant opportunity for the growth of the paints and coatings sector.

Middle East And Africa Paints And Coatings MarketSegmentation Analysis

The Middle East And Africa Paints And Coatings Market can be segmented based on Application and Geography.

Middle East And Africa Paints And Coatings Market, By Application

• Architectural• Automotive• Wood• Industrial• Others

Based on Application, the market is segmented into Architectural, Automotive, Wood, Industrial and Others. According to the data of the American Coatings Association, Architectural Coatings has the highest market share. This is because of the huge rise in the Decorative Coatings in MEA. Approximately, 72% of the total volume has been observed. After this, the Industrial Sector has the second-highest contribution. Approximately, 7% of the remaining contribution has been made from the Industrial Sector. The rise in the Decorative Segments is due to the government’s response to the rising growth in tourism.

Middle East And Africa Paints And Coatings Market, By Geography

• South Africa• North Africa• Other parts of Africa• Middle East

On the basis of Geography, the Middle East And Africa Paints And Coatings Market is classified into South Africa, North Africa,  Other parts of Africa and Middle East. Among the regions, South Africa has the highest market share. According to the American Coatings Association, the Per Capita Demand (Litres/Person) of South Africa was 7 in 2015 whereas that of the next big region – the Middle-East was 4.1. This is because the Industrial Growth in South Africa was more than that of the Middle East.

Key Players

The “Middle East And Africa Paints And Coatings Market” study report will provide valuable insight with an emphasis on the MEA market. The major players are Nippon Paint Holdings Co., The Sherwin-Williams, RPM International, AkzoNobel N.V., Axalta Coating System LLC, Valspar Corporation, Asian Paints Limited, Jotun A/S, Indigo Paints Pvt Ltd And BASF Coatings.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

We dig deep into the market using both qual and quant analysis, breaking it down by economic factors and, well, everything else! You'll get solid market value data (think USD Billion) for every segment and sub-segment. Plus, we'll point out which region and segment are really going to take off and dominate. We'll also analyze each region, highlighting where the product/service is used most and what's influencing the market there. Expect a competitive rundown showing the major players' market ranking, new product launches, partnerships, expansions, and acquisitions from the last five years. We've got extensive company profiles too, with overviews, insights, product benchmarking, and SWOT analysis. You'll see the current and future market outlook, including recent developments, growth opportunities, and the challenges facing both emerging and developed regions. We'll even give you an in-depth look using Porter's five forces and break down the Value Chain. Finally, we'll explore market dynamics, highlight upcoming growth opportunities, and even throw in 6 months of post-sales analyst support.

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