Rapidly Expanding Construction Industry Propels the Growth of the Middle East & Africa Paint Additives Market
According to the MarkNtel Advisors’ research report, “Middle East & Africa Paint Additives Market Analysis, 2021,” the market is likely to grow at a CAGR of 6% during 2021-26 due to the surging demand for pain additives owing to their properties, including scratch resistance & durability, and offering a glossy look to the surface. In addition to this, the surging popularity of paint additives among end-user industries, especially automotive, pipeline industries, and shipbuilding, fuels the market growth.
Further, the rapidly expanding automobile industry augments the demand for innovative automotive paints as they protect the surface from corrosion and other kinds of damages, thereby propelling the growth of the Middle East & Africa Paint Additives Market.
Key questions answered in the study
1. What are the current and future trends in the Middle East & Africa Paint Additives market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Middle East & Africa Paint Additives market?
Impact of COVID-19 Pandemic
The outbreak of the COVID-19 pandemic has resulted in reducing the demand for paint additives in the automotive, construction, and electronics sector. The lockdown imposed in the wake of the spread of the coronavirus pandemic has adversely affected the growth of the paint additive industry.
However, the rising trend of the do-it-yourself (DIY) sector during the lockdown period surged the demand for paint additives because more consumers got inclined toward performing DIY projects in their houses, gardens, and apartments while utilizing the timing during the lockdown. Hence, this factor critically supported the market growth.
“Middle East & Africa Paint Additives Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for paint additives providers across the country. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Solvent-Based Formulation Exhibits Fastest Growth
Based on the Formulation, the market bifurcates into Water, Solvent, and Powder Based Formulations. Of these, Solvent-Based Formulations are likely to grow substantially in the Middle East & Africa Paint Additives market during 2021-26. The Solvent-based formulation is beneficial for reducing drying times and is less prone to environmental conditions, including temperature and humidity during the curing phase. Thereby, the Solvent-based formulation back the growth of the Middle East & Africa Paint Additives Market in the forecast period, reveals MarkNtel Advisors in their research report, “Middle East & Africa Paint Additives Market Analysis, 2021.”
According to MarkNtel Advisors, the major leading players in the Middle East & Africa Paint Additives Market are Akzo Nobel, Arkema S.A, Asahi Glass Co.Ltd., Ashland Inc., BASF S.E., BYK-Chamie GHBH, Cabot Corporation, Cytec Industries, Daikin Industries, and Dynaa A.S.
1. By Formulation (Water, Solvent, Powder Based, Other)
2. By End-User (Automobiles & Transportation, Industrial, Furniture & Woods, Building & Construction)
3. By Product (Rheology Modifiers, Biocides, Anti-Foamers, Wetting & dispersing agents, Others)
4. By Country (UAE, Saudi Arabia, Iraq, South Africa, Nigeria, Morocco, Algeria, Tunisia, Kenya, Jordon, Uganda, Ivory Coast, Cameroon, Rest of MEA)
5. By Competitors (Akzo Nobel, Arkema S.A, Asahi Glass Co.Ltd., Ashland Inc., BASF S.E., BYK-Chamie GHBH, Cabot Corporation, Cytec Industries, Daikin Industries, Dynaa A.S)