Middle Eastern and North African Paint and Coating Market Trends and Forecast
Lucintel finds that 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 reach an estimated $14 billion by 2030 with a CAGR of 3% from 2023 to 2030. 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.
Paint and coating market in MENA is driven by pigments, resins, solvents, and additives. The process has some significant effects on the coloration of the paint with the main determinant been the presence of pigments. Viscosity has an effect in these two categories such that if viscosity is high then paint does not spread well while if it is low it spreads more than desired. Performance affects everything about painting because an artist cannot keep referring to what he or she can do without a proper finish. Pricing remains competitive since raw materials prices are a factor among other production efficiencies as well as regional demand factors. In fact there will be lower labor costs for MENA therefore their prices are usually less than North America and Europe but these may vary because of global commodity prices and regional conditions at times exceeding those of the developed countries.
• Lucintel forecasts that architectural will remain the largest end use segment over the forecast period due to increasing building and construction activities in the MENA region.
• 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.
Country wise Outlook for the Middle Eastern and North African Paint and Coating Market
The MENA paint and coating market is witnessing substantial growth, driven by increased demand from various industries. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major paint and coating market producers in key country: Saudi Arabia, UAE, and Iraq.
Emerging Trends in the Middle Eastern and North African Paint and Coating Market
Emerging trends in paint and coating market are shaping its future applications and market dynamics:
1. Advanced Technology Integration: Integration of advanced technologies ranging from nanotechnology to smart coatings. Nanotechnology makes it possible to make coatings with higher properties such as self-cleaning, anti-corrosive, and durability.
2. Development of Energy-Efficient Coatings: Development of energy efficient coatings that reflect solar radiation reducing heat absorbed and cooling costs. For instance, these days in building exteriors there is an increasing use of this kind of coating to reduce energy wastage.
3. Innovation of High-Performance Coatings: Innovative developments in high performance coatings for extreme environmental conditions. This includes including UV resistance, extreme temperature resilience; chemical resistance because they are key areas for industrial application.
4. Increasing Decorative and Functional Coatings: Increasing demand for decorative coatings which combine aesthetics with functionality. Some examples include textures, metallic finishes or color-shifting effects that are preferred by residential and commercial markets.
5. Bio-Based and Recycled Materials: Increase in the use of bio-based materials together with recycled ones in paint and coating formulations. Manufacturers are now looking forward to using natural raw materials as well as recycling ingredients so as to minimize the amount of carbon dioxide released during production processes.
6. Smart and Self-Healing Coatings: Development of smart coatings capable of self-healing minor damages autonomously. This extends the lifespan of surfaces hence reduces maintenance costs.
7. Digital Color Matching: Adoption of digital colour matching techniques that enhance accuracy as well expedite colour selection/fabrication process. Advancements in software and hardware have facilitated accurate color matching while providing customization options hence promoting this trend.
8. Sustainable and Eco-Friendly Formulations: There has been a growing emphasis on the development of sustainable and environmentally friendly paints and coatings. These include the use of formulations that are low-VOC (volatile organic compound) and water-based, thereby reducing their impact on the environment while making indoor air quality better.
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Recent Developments by the MENA Paint and Coating Market
Recent developments in paint and coating market by various companies highlight ongoing innovations and advancements across different sectors:
• Advancements in Chemistry: Advances in paint and coating technologies are boosting market growth. This includes the invention of high performance coatings which have added durability, improved resistance to environmental factors and enhanced aesthetic properties.
• Expanding End-Use Industries: Demand for paints and coatings is increasing across various industries, including automotive, construction, aerospace and industrial uses. Particularly, the booming construction sector in countries like United Arab Emirates (UAE) and Saudi Arabia is adding on to this increase.
• Sustainability and Green Products: Currently eco-friendly and sustainable coatings are becoming more popular. Companies are now concentrating their efforts on developing low volatile organic compound (VOC) water-based paints that do less harm to the environment as well as human beings.
• Changes in Regulations: Market trends are influenced by new regulations that deal with environmental impacts of paints & coatings businesses. Thus, companies have reformulated products in order to comply with these stricter regulations.
• Increasing Decorative Coatings Market: Surging demand for decorative coatings is driven by a rise in middle class population coupled with escalating expenditure on residential possessions together with commercial buildings. These encompass top quality interior/ exterior paints that have both aesthetic appeal and functional advantages.
Strategic Growth Opportunities for Middle Eastern and North African Paint and Coating Market
• Building and Infrastructure Surge: The Middle East North Africa (MENA) region is witnessing a boom in construction and infrastructure development with mega-projects such as smart cities, commercial complexes, and residential developments coming up. These projects depend on paints and coatings to make them aesthetically appealing and protect them against environmental conditions. Growing construction industry thus generates significant demand for high performance, decorative coatings.
• Economic Diversification: The economies of MENA countries, especially Saudi Arabia and UAE are moving beyond oil and gas. This entails investment in new industries like manufacturing, tourism, retailing all of which require specialized coating for both functional and decorative purposes. Paints and coating firms are getting the opportunity to exploit new markets resulting from this economic diversification effort.
• Automobiles & Aerospace: In MENA region automobile and aerospace industries are expanding due to increase in local investments toward manufacturing or assembling plants. Therefore they require advanced coatings for vehicle exteriors, aircraft components among others that will meet stringent safety standards as well as provide superior performances. Notably anti-corrosion formulations or heat resistant coatings are some of such technological trends.
• Technological Advancements: Advancement in coating technologies including the creation of eco-friendly products would be the source of significant growth opportunities for companies involved in paint production segment worldwide. In line with global pursuit of sustainability and improved functionality come innovations such as water-based coatings, antimicrobial materials as well as self-cleaning ones. This necessitates R&D by manufacturers who can come up with state-of-the-art solutions meant to satisfy changing customers’ demands over time.
• Environmental Regulations & Sustainability: A considerable amount of emphasis has been placed on sustainability in the MENA region coupled with its increasing environmental compliance requirements too. Governments are imposing stricter regulations on volatile organic compounds (VOCs) as well as encouraging use of low emission/eco-friendly type products instead thereof.smooth transition can be made into this changing landscape by manufacturers of green coatings that meet regulatory requirements.
• Renovations and Maintenance Market: This has led to increased demand for renovation and maintenance services in both residential and commercial buildings. Demand for paints and coatings arises from repainting or refurbishing the existing structures. This segment has a steady stream of business opportunities for companies specializing in maintenance and repair solutions.
• Government Initiatives & Infrastructure Projects: Paint manufacturing firms stand to benefit from government initiatives as well as public infrastructure projects within MENA region. Large-scale projects financed by sovereign budgets shall offer significant orders for coatings used in public buildings, roads or transport systems.
Middle Eastern and North African Paint and Coating Market Drivers and Challenges
The MENA paints and coatings market is a thriving industry with substantial growth due to various factors and faced by many challenges. The country’s quick urbanization, boom in construction activities, coupled with the state led infrastructure projects are some of the major drivers for increased demand for paints and coatings in this region. Besides, technological advancements and increasing knowledge about aesthetic and maintenance benefits also play a role in pushing up market demand. However, the sector is grappling with raw material price volatility, stringent environmental controls, as well as tough competition. For stakeholders seeking success within the difficult and changing MENA paints and coatings marketplace means that they have to understand these drivers and challenges.
The key drivers for the Middle Eastern and North African paint and coating market include:
1. Highly Urbanized and Expanding Infrastructure: The Middle East and North Africa (MENA) region is in the middle of experiencing rapid urbanization with infrastructural development projects increasing demands for paints and coatings for industrial, commercial, and residential purposes.
2. Growth in Construction Activities: A growing number of public as well as private construction undertakings including housing units, commercial spaces, and infrastructure necessitate durable and high-quality coatings.
3. Government Interventions or Spending: Government-led programs on infrastructure development as well as housing policies enhance the growth of the MENA region’s paints and coatings market.
4. Technology Advancement: Growing market owing to innovation technology regarding coating & paint such aqueous formulations that are environmentally friendly, new application methods that can be used on them, better performance properties that ultimately lead to more choices to customers.
5. Increasing Demand for Aesthetics & Maintenance: There has been a shift towards aesthetically appealing paintwork solutions by consumers as well as companies which further propel demand upsurge for quality paints/coatings.
The challenges in the Middle Eastern and North African paint and coating market include:
1. Raw Material Price Volatility: Changes in prices of raw materials like resins, pigments or solvents used in making paints and coats may have an impact on product costs and profitability.
2. Environmental Legislation: Stricter environmental regulations concerning volatile organic compounds (VOCs) among others forces manufacturers to revise their formulae thereby raising production expenses.
3. Competitive Market Environment: High competition within the local markets that include international players puts downward pressure on prices leading to shrinkage in margins.
4. Economic Crisis: Upsurge in political uncertainty or economic swings within MENA region might lead to decreased investments destabilizing markets; thereby reducing demand levels for the paints plus coatings
5. Disruptions within Supply Chain: Logistical challenges, supply chain disruptions including transport delays can influence availability / cost of inputs hence overall market performance.
The MENA paints and coatings marketplace is a lively landscape formed by both boosters and barriers. Fast urbanization rates, strong construction activities and technological advancements combine to provide bright prospects for market growth. But there are challenges like unstable raw material prices, strict environmental regulations and competitive pressures that need careful handling as well as strategic adaption. The companies that will be able to address these factors best can effectively make use of this opportunities available in the market as well as overcome any hindrances that may come on their way in future.
MENA Paint and Coating Suppliers and Their Market Shares
In this MENA competitive market, several key players such as Jazeera Paints, Jotun, PPG Industries, National Paints Factories, and AkzoNobel etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players, contact us. ".
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies paint and coating market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the paint and coating market companies profiled in this report include.
• Jazeera Paints
• Jotun
• PPG Industries
• National Paints Factories
• AkzoNobel
These companies have established themselves as leaders in the paint and coating market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations. The market share dynamics within the paint and coating market are evolving, with the entry of new players and the emergence of innovative paint and coating market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Middle Eastern and North African Paint and Coating Market by Segment
The different segments of MENA Paint and Coating Market are experiencing notable growth. Construction and infrastructure projects have seen the expansion of architectural coatings. The demand for vehicles has gone up, thus leading to an increase in automotive coatings. This is due to oil and gas industry developments and manufacturing improvements, which are responsible for the expansion of industrial coatings. Their resistance to deterioration prompts the need for protective coatings made with these characteristics. Furthermore, there are increasing applications of wood coatings in furniture and interior design business. The entire areas listed herein show a strong industrial base as well as infrastructure development in the region at large.
Middle Eastern and North African (MENA) Paint and Coating Market by Application [Value ($ Million) and Volume (M lbs) for 2018 – 2030]:
• Architectural
• Automotive
• Wood
• Industrial
• Transportation
• Packaging
• Others
Middle Eastern and North African (MENA) Paint and Coating Market by Technology [Value ($ Million) for 2018 – 2030]:
• Water based
• Solvent based
• Powder
• Others
Middle Eastern and North African (MENA) Paint and Coating Market by Resin [Value ($ Million) and Volume (M lbs) for 2018 – 2030]:
• Acrylic
• Alkyd
• Polyester
• Epoxy
• Polyurethane
• Others
Features of MENA Paint and Coating Market
• Market Size Estimates: MENA paint and coating market size estimation in terms of value ($M)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by application, technology, and resin
• Growth Opportunities: Analysis of growth opportunities in different application, technology, and resin for the Middle Eastern and North African (MENA) paint and coating market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Middle Eastern and North African (MENA) paint and coating market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in paint and coating market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the Middle Eastern and North African (MENA) paint and coating market size?
Answer: The global Middle Eastern and North African (MENA) paint and coating market is expected to reach an estimated $14 billion by 2030.
Q2. What is the growth forecast for Middle Eastern and North African (MENA) paint and coating market?
Answer: The Middle Eastern and North African (MENA) paint and coating market is expected to grow at a CAGR of 3% from 2023 to 2030.
Q3. What are the major drivers influencing the growth of the Middle Eastern and North African (MENA) paint and coating market?
Answer: 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.
Q4. What are the major applications or end use industries for MENA paint and coating?
Answer: Architectural and automotive are the major end use industries for MENA paint and coating.
Q5. What are the emerging trends in Middle Eastern and North African (MENA) paint and coating market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include advanced technology integration, development of energy-efficient coatings, innovation of high-performance coatings, increasing decorative and functional coatings, and bio –based and recycled materials.
Q6. Who are the key Middle Eastern and North African (MENA) paint and coating companies?
Answer: Some of the key Middle Eastern and North African (MENA) paint and coating companies are as follows:
• Jazeera Paints
• Jotun
• National Paints Factories Co. Ltd.
• AkzoNobel
• Kansai Paints
• Asian Paints
Q7.Which Middle Eastern and North African (MENA) paint and coating product segment will be the largest in future?
Answer: 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.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the Middle Eastern and North African (MENA) paint and coating market by application (architectural, automotive, wood, industrial, transportation, packaging, and others), technology (water based, solvent based, powder, and others), and resin (acrylic, alkyd, polyester, epoxy, polyurethane, and others)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the reasons behind them?
Q.6 What are the changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 7 years in this market?