Middle East and Africa Architectural Coatings Market By Resin Type (Acrylic, Vinyl Acetate-Ethylene (VAE), Alkyds, Polyurethane, Epoxy, Polyesters, Others), Technology (Solventborne, Waterborne), Function (Paints, Primers, Varnishes, Stains, Sealers, Powder Coatings, Lacquers, Ceramics, Others), Application (Commercial, Residential, Coatings for Wood, Roof Coatings, Floor Coatings), Country (South Africa, Rest of Middle East & Africa) – Industry Trends and Forecast to 2026
The architectural coatings market represents the largest segment of overall coatings market. Architectural coatings are the coatings such as paints, powder and others which are used to coat homes and buildings. Most of the architectural coatings are designed for a specific use such as interior and exterior wall painting, roof coatings and floor coatings. These coating provides certain protective, decorative and durable functions to infrastructure. The acrylic segment is the highest growing segment owing to its advantages such as wide range of applications, oxidation and weathering resistance, durability and high coating quality. Whereas the Asia-Pacific region is most dominating as well as fastest growing region due to increasing applications, infrastructural developments and technological advancements in the region.
Middle East & Africa architectural coatings market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.
Segmentation: Middle East and Africa Architectural Coatings Market
Middle East & Africa architectural coatings market is segmented into four notable segments which are resin type, technology, function and application.
- On the basis of resin type, the market is segmented into acrylic, alkyds, epoxy, polyurethane, polyesters, vinyl acetate-ethylene (VAE) and others.
- On the basis of technology, the market is segmented into waterborne and solventborne.
- On the basis of function, the market is segmented into ceramics, lacquers, paints, powder coatings, primers, sealers, stains, varnishes and others.
- On the basis of application, the market is segmented into residential, commercial, coatings for wood, floor coatings, and roof coatings.
Competitive Analysis: Middle East and Africa Architectural Coatings Market
Some of the major players operating in this market are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, NIPSEA Group, BASF SE, Asian Paints Limited, Axalta Coating Systems, LLC, Brillux GmbH & Co. KG, Colorado Commercial & Residential Painting, IFS Coatings, Kansai Paint Co., Ltd., KEIM Mineral Coatings of America, Inc., Kelly-Moore Paints, Masco Corporation, RPM International Inc. among others.
- In September 2019, AXALTA Coating Systems, LLC has acquired Capital Paints, powder coatings manufacturing company based in UAE. This company has specialized in thermosetting powder coatings manufacturing for architectural powder coatings. This acquisition has been done for the strategic expansion of their powder coating business in Middle East and North Africa (MENA) region.
- In June 2019, RPM International Inc. has announced the acquisition of Schul International Co., LLC and Willseal LLC, through its Tremco business. Schul International Co., LLC which is a joint sealants manufacturer for commercial construction and Willseal LLC markets and sells Schul products. This acquisition benefits RPM’s Tremco Commercial Sealants & Waterproofing business to strengthen its position in impregnated foam tape technology.
- In December 2017, Reno Chemicals Pharmaceuticals and Cosmetics Pvt have been acquired by Asian Paints. Ltd which is a drug and cosmetics manufacturing company with USD 24.7 million. Asian Paints has acquired 4,950 equity shares of Reno chemicals with this acquisition. This purchase results in rising service needs using land and resources.
Research Methodology: Middle East and Africa Architectural Coatings Market
Primary Respondents: Key Opinion Leaders (KOL’s): Product Experts, Engineers, Service Providers, Industrial Professionals. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.