The Middle East and Africa Powder Coating Market is expected to grow at a CAGR of 6.19% during the forecast period 2024-2029. The market value was at USD 0.85 billion in 2023, and the value is expected to reach USD 1.22 billion by the end of 2029.
The Middle East and Africa are growing markets for the Powder Coating industry. Developing infrastructure in African countries and existing oil and gas industries in the Middle East are the major contributors to business growth.
Middle Eastern countries experience extreme climatic situations both in winter and summer, and Powder Coating finds various applications in order to counter that. In addition, countries like UAE and Qatar have become prominent tourist attractions with the building of luxury real estate geared up to upgrade the infrastructure, thus driving the Middle East and Africa Powder Coating market. In African countries, the real estate market is gaining ground with the rising call for long-lasting metal coatings. Oil and gas industries in the Middle East are also having their influence on the Powder Coating business to some extent. Powder coating is also extensively used in the energy sector which is growing in this area.
The COVID-19 pandemic has been one of the biggest factors which have stagnated the market both in the Middle East and Africa. Lack of investment in Africa combined with the poor purchasing power of the local citizens has damped the growth of the manufacturing sector.
The automotive sector in Africa is very poor and there are very few demands for Powder Coating in this locale, however, this trend has been changing in recent years.
COVID-19 has resulted in severe challenges in the Powder Coating market with its effect on the architectural and industrial sectors. With the Middle East and African countries not the hotspots of the virus, all production activities and economic activities were shut in Qatar, UAE, Saudi Arabia, and other African countries. Oil and Gas production and construction projects were all halted, and as a consequence, the demand for Powder Coating significantly dropped. The Middle East countries suffered a lot as their economy is heavily reliant on Oil and Gas production, and during this period, the prices even dropped to negative values. Packaging industries are foreseen to progress because of the hike in demand for packaged goods, which has slightly increased the call for coating materials. But overall, the industry is expected to be negatively impacted by the end of 2021. Economic recoveries can be anticipated after 2021 but till then there is a very slight chance of growth.
Members of the African Union recently signed the African Continental Free Trade Area (AFCFTA) agreement ensuring free trade between African countries. This will improve the existing Powder Coating industry and also allow cross-country trade smoothly.
The Middle East and African regions are modifying their medieval architectures and constructing modern buildings, promoting the usage of Powder Coating in the infrastructural sector. In order to prepare for the 2022 FIFA World Cup, Qatar is funding heavily in the infrastructure segment.
Construction and Infrastructure sectors are witnessing huge development in Middle East nations like Saudi Arabia, Iran, Iraq, the United Arab Emirates, Qatar, and Kuwait. In 2019, projects worth USD 102.3 billion were processed across all the GCC countries, which is supposed to increase in the coming years.
Qatar and Saudi Arabia are significant contributors to the MEA Powder Coating market with their huge construction sectors that recorded an average growth rate of over 10% in the last five years.
In African countries, Nigeria shows the strongest growth in terms of demand in Powder Coating thanks to its growing infrastructure industry. South Africa is falling short in this segment. Also, the GDP growth of Egypt has been significant in Egypt which was recorded at 5.6% by the end of 2019.
Jazeera Paints, AKZO Novel NV, PPG Industries, Jotun, National Paints factory Co. Ltd are some of the notable companies in the Middle East and Africa Powder Coating Market.
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