The Middle-East and Africa coil coatings market is estimated to witness a healthy growth, at an estimated CAGR of over 4.5%, over the forecast period. Coil coatings find their application in the manufacturing of typical components, such as sheet and panels for containers, caravan and interior, insulated boxes, trailer bodies, roads, and railway coaches.
– Booming commercial construction activities in Middle East is augmenting the growth of the market.
– Increasing replacement of metals by plastics in the automotive industry is likely to hinder the market growth.
– Saudi Arabia dominated the market and is expected to be the fastest growing market in the region during the forecast period.
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Key Market Trends
Increasing Demand from Building & Construction Industry
– The increasing demand of coil coatings is primarily due to its extensive use as coated material in end-user industries, such as construction, rapid industry development, urbanization, and increase in per capita income, along with rise in consumer spending.
– Wood panels, roofs, metal sheets are some of the products, which are using in coating material for the construction industry. These products are also providing artistic appeal to commercial and residential buildings. Additionally, rising non-residential construction activities, including commercial building, manufacturing industries, and factories, have activated the demand for coil coatings to sustain in harsh weather conditions.
– Coil coating is basically a multi-layer coating of pigments, resins, and primers that are used to coat metal sheets, such as aluminum and steel. They are used to protect the material against harsh environmental conditions and also for providing corrosion resistance.
– The Middle East & Africa construction sector is expected to hold greater opportunities for digitization and revitalization of building assets, as well as adaptive modular design as a construction tool.
– Saudi Arabia appears to be the most active country in the Middle East construction market. Saudi Arabian capital projects are estimated to worth around USD 2.1 trillion, followed by the United Arab Emirates with capital projects of USD 713 billion. Egypt and Kuwait have projects of worth USD 578 billion and USD 215 billion, respectively
Saudi Arabia to Dominate the Market
– The market openness and investment opportunities were limited in Saudi Arabia, when compared with other emerging economies. However, the government, in its 10th development plan, is reforming its economic strategies, with investments in diversified sectors, and trying to attract private investments into the country, in order to make it a diversified economy that is not dependent on oil.
– The country has generated large-scale projects worth USD 800 billion, to boost its infrastructure in the coming years. The government has expansive plans for the development of social infrastructure, transportation, and energy and utility construction in the country. The country’s primary growth in construction has been largely powered by the massive investments done by the government, and an increased inflow of FDI.
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