The Middle East & Africa Paint Additives Market is expected to grow at a CAGR of around 6% during 2021-26, says MarkNtel Advisors in their research report. Paint additives are the type of material used in paints that help improve their quality & performance. Paint additives are induced in paints to improve the aesthetic appearance & other properties of coatings. It also helps eliminate problems that arise during formulating paint production process. The small quantity of additives makes a significant impact on the surface on which paint is applied.
The growth of the paint additives market ascribes to the increasing demand for high-quality paint materials for building & construction activities. The snowballing adoption of paint additives in decorative & advanced aerospace paints is also expected to boost the market. Moreover, the usage of paint additives has witnessed an increasing demand in the automotive sector since they help maintain the aesthetic looks of the exterior part of vehicles for a longer duration.
Furthermore, due to mounting concerns over the harmful impact of the paint additives, the leading market players are increasingly focused on developing eco-friendly materials. It, in turn, will help accelerate the overall market growth, further states the research report, “Middle East & Africa Paint Additives Market Analysis, 2021.”
Building & Construction Sector Captures the Largest Share in the Middle East & Africa Paint Additives Market
The rapid expansion of the construction industry across the Middle East & Africa is the prime aspect behind the largest share of the Building & Construction sector in the Paint Additives Market. The mounting demand for paint additives in residential & commercial buildings to enhance the surface features is another crucial aspect contributing to the market growth across the building & construction sector. Paint additives help improve paint properties like corrosion, water, thermal, & abrasion resistance.
The rapid construction of metros, airports, shopping malls, etc., coupled with improved living standards, is projected to boost infrastructural developments in the region. It, in turn, would create lucrative growth opportunities for the Paint Additives Market in the coming years.
Saudi Arabia Holds the Largest Share in the Middle East & Africa Paint Additives Market
Among all countries in the Middle East & Africa, Saudi Arabia dominates the Paint Additives Market. It is due to the increasing number of construction & industrial activities in the country, which makes it the most attractive market for paint additive manufacturers. Additionally, the expanding national economy owing to high oil prices is leading to a surging number of construction projects across both government & private sectors.
Furthermore, the launch of various projects like NEOM and Saudi Arabia Megaproject Vision 2030 by the Saudi government has resulted in numerous construction activities going in the country. Hence, these factors are likely to propel the demand for paint additives across Saudi Arabia over the forecast years, reveals MarkNtel Advisors in their research report, “Middle East & Africa Paint Additives Market Analysis, 2021.”
According to MarkNtel Advisors, the leading industry players in the Middle East & Africa Paint Additives Market Akzo Nobel, Arkema S.A, Asahi Glass Co.Ltd., Ashland Inc., BASF S.E., BYK-Chamie GHBH, Cabot Corporation, Cytec Industries, Daikin Industries, Dynaa A.S.
Key Questions Answered in the Study