Market Research Middle-East & Africa Paints & Coatings Market

The Middle East & Africa paints & coatings market is estimated to register a growth rate of 3.52% during
the forecast period (2018 - 2023). Saudi Arabia is estimated to lead the market due to the ongoing
growth in the industrial and architectural sectors in the country. Water-based coatings are expected to
be the fastest-growing type, by technology.
Booming Commercial Construction Activities
The Middle East construction market is growing gradually despite the economic gloom. Leaving aside
the downturn of the real estate sector in Dubai, the overwhelming impetus behind infrastructure and
large-scale residential projects across the Middle East indicate that activity is far from over.
Furthermore, with crude prices nearing the OPEC target of USD 70 a barrel, the GCC nations are
expected to increase their spending on the sector. Saudi Arabia and Qatar are leading the regional boom
and both of their construction sectors have grown at an average rate of over 10% in the past five years.
Public sector spending in both the countries is driven by government initiated plans to develop
infrastructure and expansion of cities. Middle East Economic Digest (MEED) estimates that around USD
200 billion will be spent on megaprojects in Qatar, in the run up to the 2022 FIFA World Cup.
Additionally, a contract of USD 8 billion has been approved, which involves the completion of the first
two metro stations by 2019. State-owned Qatari Diar is leading the development of USD 45 billion Lusail
City, which is the largest project situated in the coastal suburb to the north of the capital, Doha. The
project is expected to accommodate 200,000 people. Oman Tourism Development Company (OMRAN)
has launched identity details for the first phase of its Mina Al Sultan Qaboos Waterfront Project. Phase 1
of the development, which will involve investment of USD 390 million and is scheduled to complete by
2020. These factors are expected to increase the construction output, which, in turn, is likely to increase
the usage of paints and coatings.
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Water-borne Technology - The Fastest Growing Type by Technology
The VOCs released from solvent-borne coatings is the core reason for the manufacturers switching to
water-borne coatings. Also, other properties like low odor, more durability, and more block resistance
make water-borne coatings more preferable. There are many regulations from several governments,
which support water-based coatings. These are usually used in several applications, which include
transportation, building and construction, and industrial applications. In recent times, there has been a
propensity to seek coatings with high usability, and water clean-up characteristics among the users.
Water-borne coatings meet the requirements facilitate low viscosity as well, without the addition of
low-molecular weight monomers.
Saudi Arabia to Lead the Market in the Middle East & African Region
Saudi Arabia, an oil-rich country, has an emerging economy that had slowed down in 2017, over 2016,
due to low crude oil prices and the countrys regulatory policy. Saudi Arabias major initiatives concerning
infrastructural development included White Land Tax Initiative and Transport Infrastructure
Development plan in Riyadh. Under this, the government is focusing on the construction of 175 km of