Portland, OR, April 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Egypt paints & coatings market was estimated at $2.2 billion by 2019, and is anticipated to hit $3.6 billion by 2027, registering a CAGR of 7.9% from 2020 to 2027.
Increase in building & construction activities in the region and growth in demand for heat & UV resistant paints & coatings products drive the growth of the Egypt paints & coatings market. However, rise in prices of raw materials hinders the market growth. On the contrary, surge in demand for eco-friendly paints & coatings products is expected to usher an array of opportunities for the market players in the future.
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Covid-19 scenario:
- The prolonged lockdown during covid-19 outbreak temporarily suspended the import-export and disrupted the supply chain. In addition, the shortage of raw materials further restrained the production of paints & coatings.
- However, the industry has now restarted their production facility as the government bodies have eased off the regulations. Moreover, the demand for paint & coatings is expected to recover post-pandemic.
The Egypt paints & coatings market is divided on the basis of resin type, technology, and product type. Based on resin type, the market is further segmented into acrylic resin, alkyd resin, polyurethane resin, epoxy resin, polyester resin, and others. The acrylic resin segment dominated the market with nearly one-third of the total market share in 2019, and would lead the trial throughout the forecast period. In addition, the segment is expected to manifest the highest CAGR of 8.3% during the forecast period.
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Based on technology, the market is divided into water-based, solvent-based, powder-based, and others. The solvent-based segment held the largest share in 2019, with more than half of the total revenue. However, the water-based segment is estimated to register the highest CAGR of 8.0% during the forecast period.
Based on product type, the market is classified into decorative paints & coatings and industrial paints & coatings. The decorative paints & coatings segment held the largest share in 2019, accounting for more than three-fourths of the market. However, the industrial paints & coatings segment is projected to portray the highest CAGR of 8.1% during the forecast period.
The Egypt paints & coatings market report includes an in-depth analysis of the key market players such as BASF SE, Akzo Nobel N.V., KAPCI Coatings, PPG Industries, Inc., PACHIN, GLC Paints, Jotun A/S, Orient Paints, MIDO Coatings, and SIPES Egypt.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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