According to a new market report published by Lucintel, the future of the paint and coating market looks promising with opportunities in the architectural, automotive, wood, industrial, transportation, and packaging industries. The Middle Eastern and North African (MENA) paint and coating market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $11.7 billion by 2025 with a CAGR of 4%-6% from 2019 to 2025. The major drivers for this market are growth in automotive production, increasing building and construction activities, and rising demand for eco-friendly paint and coatings.
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In this market, water based, solvent based and powder based paint and coatings are used in various end use industries. Lucintel forecasts that water based paint and coating will remain the largest segment over the forecast period due to growing awareness about environment friendly coatings and it’s corrosion and chemical resistance properties.
Within this market, architectural will remain the largest end use segment over the forecast period due to increasing building and construction activities in the MENA region.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of powder coating for non-metal substrates as well as powder coating with low temperature cure, development of UV cured powder coating and LED curing technology, and favorable government regulations for bio based solvents. Jazeera paints, Jotun, PPG, National Paints, AkzoNobel, Kansai Paint, and Asian Paints are among the major suppliers in the Middle Eastern and North African paint and coating market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle Eastern and North African paint and coating market by application, product, and resin. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Middle Eastern and North African Paint and Coating Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the Middle Eastern and North African paint and coating market by application, product, and resin as follows:
By Application [Value ($ Million) and Volume (M lbs) for 2014 – 2025]:
Architectural
Automotive
Wood
Industrial
Transportation
Packaging
Others
By Technology [Value ($ Million) for 2014 – 2025]:
Water based
Solvent based
Powder
Others
By Resin [Value ($ Million) and Volume (M lbs) for 2014 – 2025]:
Acrylic
Alkyd
Polyester
Epoxy
Polyurethane
Others
This 129 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.