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AKI Research & Consulting
Feb 10, 2023
2022: Middle-East & Africa Paints & Coatings Market Share Competition Analysis
The Middle-East and Africa region has an emerging growth in the construction sector and has started recovering after the impact of COVID-19. The deficiency of skilled employees, increased inflation costs, increased raw material costs, etc., are a few of the challenges faced by many countries in the region, which had delayed many key construction projects. Over the next 5 years, it is forecast that the Middle-East region will have a CAGR of over 4.6% in the construction sector, whereas the African region will see a higher CAGR of over 5.8% in the same period in the construction sector, mainly because of the higher construction activities and projects in housing, transport, and commercial & industrial construction in Egypt and South Africa. The architectural coatings market in the Middle-East and Africa region accounted for about 49.11% in 2022. The total paints and coatings market in the Middle-East and Africa region is forecast to have a CAGR of 4.38% over the forecast period of 2023–2028.
The 17 key players listed below accounted for about 48.40% market share of the Middle-East and Africa paints and coatings market in 2022. In the region, the market is very fragmented, with many small local paints and coatings players.
In 2022, Saudi Arabia accounted for about 19.60% market share in the Middle-East and Africa paints and coatings market, followed by South Africa, Iran, and Egypt.
In 2022, Jotun accounted for 8.14% to be the largest player in the Middle-East and Africa paints and coatings market, followed by Jazeera Paints, PPG Industries, National Paints Factories Co. Ltd., Akzonobel, etc. In Saudi Arabia's paints and coatings market, Jazeera Paints stands at the first position because of its higher market penetration and higher volume consumption, followed by Jotun and National Paints Factories Co. Ltd.
In the region, the top players are following the strategies of new product development with sustainable development, mergers/acquisition strategies to gain market share, increasing production capacity, product lines, opening new own stores, etc.