DUBLIN--(BUSINESS WIRE)--The "Middle East Paints and Coatings Additives Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Middle Eastern paints and coatings additives market was expected to witness a healthy growth, by revenue, at an estimated CAGR of 6.23%, over the forecast period (2019-2024). One of the major factors driving the growth of the market is the increased focus on tourism and construction in the Middle Eastern region.
- In 2018, Saudi Arabia dominated the market studied.
- By type, rheology modifiers had the largest share and occupied 25% of the market, in 2018. It is also the fastest growing segment.
- The architectural segment accounted for the largest market share in 2018.
Key Market Trends
Rheology Modifiers - A Huge Growth Potential
- Rheology modifiers are the largest type of additives by function, owing to many reasons, especially the ability to adjust the flow behavior of paints and coatings.
- They help in the reduction of spattering and dripping of paints while applying, and help in smooth and uniform applications, thus increasing the hiding power and shelf life of the paint.
- Additionally, during transportation and storage of paints and coatings, rheology modifiers help in preventing sedimentation of pigments.
- Rheology modifiers can be further classified into organic and inorganic rheology modifiers. These modifiers also act as thickeners.
- Inorganic modifiers help improve anti-settling, anti-spattering, and anti-sag properties of the coating. Organic modifiers help in stabilization against settling and low sagging.
- Thickeners are the commonly used rheology modifiers for water-borne coatings, and comprise of hydroxyethyl cellulose, hydroxypropyl cellulose, etc. Similarly, the commonly used rheology modifiers for solvent-borne coatings include organoclays, organic thixotropes, fumed silica, and over-based calcium sulfonate.
- Rheology modifiers are used primarily in architectural, industrial, automotive, and protective coatings.
- The commonly used rheology modifier types include WB synthetics, cellulosics, organoclays, fumed silicas, SB synthetics, and other inorganic types.
- Some of the manufacturers of rheology modifiers include Ashland, Cabot Corporation, Solvay, Elementis PLC, etc.
Saudi Arabia to Dominate the Market
- Saudi Arabia is aiming for the development of its paints and coatings sector, and is on the way to become the center for paints and coatings supply chain in the Middle Eastern region, leveraging its easy access to key feedstock, production of basic molecules, and access to the regional market.
- Saudi Arabia has a persistent expedition in making some of the tallest, largest, and biggest structures. The paints and coatings industry in the country is expected to register steady growth in the coming years, as the construction industry is poised to witness sturdy growth in the forthcoming years, in turn, augmenting the demand for coating additives.
- According to the Major Building Expo in Riyadh, the Saudi construction industry is poised for tremendous growth over the next five years, with 700 new projects set to be launched in the upcoming months and targeted for completion by 2022. The value of Saudi Arabia's 2018 construction projects has surged to USD 284.3 billion.
- In 2018, Saudi Build took place amid increased construction activities, especially in the industrial and commercial sectors in the local market, in keeping with the goals of the National Transformation Program 2020 and Saudi Vision 2030.
- The government is aiming to significantly increase the number of pilgrims visiting Makkah and Medina each year. In 2017, the government unveiled plans to build Al Faisaliah, a mega-city for the permanent residents located on the Red Sea coast, which may provide 995,000 housing units and accommodate 6.5 million people by 2050. This scenario, in turn, is expected to boost the demand for additives used in protective coatings.
- Such initiatives by the government are expected to rapidly boost the construction industry, further boosting the consumption of coatings, as well as coating additives, in the construction sector.
The Middle Eastern coating additives market is concentrated, with the top five players accounting for around 40% of the market share, in 2018. The region is primarily dominated by global players, and the local manufacturers are relatively low, when compared to global players.
Major players in the market include DowDuPont, Solvay, Altana Group (BYK), Ashland, and Elementis, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increased Focus on Tourism and Construction in the Middle Eastern Region
4.1.2 Other Drivers
4.2.1 Increasing Raw Material Costs of Paints and Coatings
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1.2 Dispersants and Wetting Agents
5.1.3 Defoamers and Deaerators
5.1.4 Rheology Modifiers
5.1.5 Surface Modifiers
5.1.7 Flow and Leveling Additives
5.1.8 Other Types
5.2 End User
5.2.5 Other End Users
5.3.1 Saudi Arabia
5.3.3 United Arab Emirates
5.3.4 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Arkema Group
6.4.4 BASF SE
6.4.5 Cabot Corporation
6.4.6 Daikin Industries Ltd
6.4.7 DowDuPont Inc.
6.4.8 Elementis PLC
6.4.9 Evonik Industries AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Plans for New Luxury Real Estate Projects in Qatar
For more information about this report visit https://www.researchandmarkets.com/r/472ggi