Middle East & Africa Corrosion Protection Coating Market Structure, Drivers and Restraints Report 2019-2025

[Jan, 2019] The Middle East and Africa corrosion protection coating market size is expected to reach USD 1.07 billion by 2025. It is anticipated to register a CAGR of 6.0% during the forecast period. Increasing construction spending for infrastructure development in regions, such as Saudi Arabia, UAE, Qatar, and Oman, is likely to boost the market.

The oil and gas sector is one of the promising segments which is expected to show substantial growth as major producers in OPEC are shifting their focus from oil based to non-oil economy, giving ample opportunities for countries such as Kenya, Libya, and Algeria to trade oil and sustain economic growth. Infrastructure development in emerging economies coupled with increasing trend of urbanization is expected to drive the growth over the forecast period.

The demand for corrosion protection coatings in the application segment is anticipated to witness substantial growth aided by the development of manufacturing hubs that manufacture products meant for export-oriented industries, such as food and beverages, oil and oil products, and assembled machinery. Mega-cities like Dubai have witnessed a surge in the hospitality market and the trend is expected to continue in the coming years. This is indirectly projected to propel the requirement for coatings.

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In 2017, the oil and gas industry accounted for over 17% of MEA corrosion protection coating market share in terms of revenue. Population growth in Middle East and Africa, which has resulted in the growth of consumer class, is expected to spur the demand for energy in the long run. This is expected to drive exploration activity on a global level, thereby encouraging the market players to focus on acquiring new acreages. Innovative breakthroughs have also made it conceivable to develop colossal assets.

In terms of technology, the solvent borne coating consist primarily a large proportion of Volatile Organic Compounds (VOC) and demonstrates high performances across automotive, industrial and printing inks. Due to environmental impacts circling the presence of VOC, the demand for solvent based coatings is primarily increasing across harsh environmental conditions.

Further key findings from the report suggest:

• Among products, the epoxy segment is anticipated to reach USD 540.5 million by 2025

• In terms of revenue, the polyurethane segment is expected to expand at a CAGR of 7.4% over the forecast period

• Among technologies, the powder form of coating is expected to register a CAGR of 8.4%, in terms of revenue, over the projected period

• The construction sector dominated the Middle East and Africa corrosion protection coating market with a revenue share of over 24.5% in 2017

• In terms of volume, Oman is anticipated to witness a CAGR of 8.9% in terms of revenue, over the forecast period

• The market is characterized by accreditation of the product, capacity expansion, capital expansion, and substantial investment decisions to improve the market share of manufacturers.

• Some of the prominent companies engaged in the manufacturing and distribution of raw materials, such as alkyd, acrylic, epoxy, polyurethane, and zinc in the form of resins are Euroqarzo, Ressol Chem, Arkema, BASF and Olin Corporation.

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Table of Contents:

Chapter 1 Methodology & Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary
2.1 Market snapshot

Chapter 3 Middle East & Africa Corrosion Protection Coatings Market Variables, Trends & Scope
3.1 Market segmentation & scope
3.2 Penetration & growth prospect mapping
3.3 Value chain analysis
3.4 Raw material trends
3.4.1 Alkyd
3.4.2 Acrylic
3.4.3 Epoxy
3.4.4 Polyurethane
3.4.5 Zinc
Continued...

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