Middle East & Africa Water Borne Coatings Market Outlook, 2028

The MEA waterborne coating market has grown rapidly in recent years, owing to factors such as rising environmental restrictions, a shift towards sustainable products, and increased awareness of the benefits of waterborne coatings. The market is primarily driven by rising demand for waterborne coatings for construction activities. Increased rebuilding and construction activities in developing countries in the area are also likely to fuel market expansion during the forecast period. Environmental compliance is seen as a primary driving force in defining the future of aqueous coatings for industrial items. Governments in the MEA region have been implementing stricter environmental regulations to reduce VOC emissions and promote sustainable practices. Waterborne coatings have lower VOC content compared to solvent-based coatings, making them a preferred choice to comply with these regulations. NEOM is an ambitious smart city project located in north-western Saudi Arabia. It aims to become a leading global hub for innovation, technology, and sustainability. NEOM's vision includes utilizing advanced technologies and eco-friendly practices in construction and infrastructure development. Waterborne coatings are expected to play a significant role in reducing VOC emissions and promoting sustainability within the city. The MEA region is known for its diverse climate, including arid and desert environments, as well as coastal regions. The extreme temperatures, high humidity, and exposure to UV radiation in certain areas can pose challenges for coatings. Waterborne coatings in MEA are formulated to withstand these environmental conditions, offering excellent weather resistance, UV protection, and durability.

According to the research report, Middle East & Africa Waterborne Coatings Market, Outlook, 2028, the market is anticipated to reach market size of USD 7.8 Billion by 2028. Ongoing research and development efforts are focused on improving the performance and properties of waterborne coatings. Manufacturers are investing in advanced technologies to enhance the durability, application efficiency, and versatility of waterborne coatings. This includes the development of new additives, resins, and application methods to expand the scope of waterborne coatings in various industries. Governments and regulatory bodies in the MEA region are implementing stricter regulations and standards regarding emissions and environmental impact. The use of waterborne coatings aligns with these regulations as they have lower VOC emissions and comply with environmental standards. This regulatory push is encouraging the adoption of waterborne coatings across various industries. Advanced resin technologies, such as acrylics, polyurethanes, alkyds, and epoxies, are being formulated to enhance the performance characteristics of waterborne coatings, including adhesion, durability, chemical resistance, and weatherability. Furthermore, Nano and micro particle technology is being employed to improve the properties of waterborne coatings. This includes incorporating nanoparticles and micro-particles, such as silica, titanium dioxide, and other functional additives, to enhance scratch resistance, UV protection, antimicrobial properties, and barrier properties of the coatings. The digitalization of manufacturing processes, including the adoption of Industry 4.0 technologies, is influencing the waterborne coatings industry. IoT-enabled devices, data analytics, automation, and predictive maintenance are being utilized to optimize production processes, improve quality control, and enhance overall efficiency in waterborne coatings manufacturing. Middle East Coatings Association (MECA) is a non-profit organization representing the coatings industry in the Middle East region. It serves as a platform for networking, knowledge sharing, and industry advocacy. MECA promotes sustainable coatings technologies and provides support to its members through training, events, and regulatory updates.

According to the resin type, the market is divided into Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, and PVDC. The Alkyd resin is predicted to register the highest CAGR of the market in future. Alkyd resins have undergone significant advancements to improve their environmental profile. Traditionally, alkyd resins were solvent-based, but with technological developments, waterborne alkyd resins have emerged as a more sustainable alternative. Waterborne alkyd resins have lower VOC content and comply with stringent environmental regulations, making them a preferred choice in the MEA region, where environmental awareness is increasing. The MEA region is experiencing significant infrastructure development, particularly in the construction sector. Alkyd-based waterborne coatings find extensive applications in the construction industry for various substrates, including metal, wood, and concrete. The growth in construction activities and increasing investments in infrastructure projects in the region create a favourable market environment for waterborne coatings based on alkyd resins. With the growing emphasis on sustainability and eco-friendliness, there is a rising demand for coatings that have reduced environmental impact. Waterborne coatings, including those based on alkyd resins, are considered more environmentally friendly due to their lower VOC emissions and reduced toxicity compared to solvent-based coatings. This increased demand for eco-friendly solutions is expected to drive the growth of waterborne coatings based on alkyd resins.

The Saudi Arabia is significant market leader of waterborne market in MEA. Saudi Arabia has a thriving construction industry, driven by extensive infrastructure development, residential and commercial construction projects, and investments in mega-projects like NEOM and the Riyadh Metro. The demand for waterborne coatings in construction applications, such as building exteriors, interiors, and infrastructure, is substantial. Saudi Arabia's robust construction sector contributes significantly to the demand for waterborne coatings in the country. The Saudi Arabian government has implemented various initiatives and regulations to promote sustainability and environmental stewardship. The Vision 2030 initiative, for instance, emphasizes sustainable development and reducing the environmental impact of industries. This has led to a growing demand for eco-friendly coatings, including waterborne coatings. The government's support for environmental regulations and sustainability aligns with the use of waterborne coatings, making Saudi Arabia a significant market for such products. Saudi Arabia has established robust industrial infrastructure, including industrial cities and zones, to attract investments and foster industrial growth. These industrial clusters provide a conducive environment for coating manufacturers, facilitating production, distribution, and access to raw materials. The presence of a well-developed industrial infrastructure supports the growth of the waterborne coatings market in Saudi Arabia.

Major companies present in the market:

Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, Kansai Paint Co.,Ltd., Jotun Group, Axalta Coating Systems Ltd., Arkema S.A., Hempel A/S, NOROO PAINT & COATINGS CO.,LTD., Cabot Corporation, Sika AG, RPM International Inc, The Dow Chemical Company, Asian Paints Ltd., Terraco Group Limited, Altana AG.

Considered in this report

• Geography: Middle East & Africa
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Middle East & Africa Waterborne Coatings market with its value and forecast along with its segments
• Country-wise Waterborne Coatings market analysis
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries Covered in the report:

• UAE
• Saudi Arabia
• South Africa

By Resin Type

• Acrylic
• Polyester
• Alkyd
• Epoxy
• Polyurethane
• PTFE
• PVDF
• PVDC
• Others

By Application

• Architectural
• Industrial

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Waterborne Coatings industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.