Additives are low-level ingredients that are added to paints to enhance specific properties like mildew resistance, good flow & leveling, and deforming, among others. With developments in additives, paint can also offer benefits like anti-fungal or algae resistance, greater durability, and rapid drying on surfaces when additives are added.
Backed by the high demand for paints, the use of additives is witnessing a direct influence & plays a crucial role in developing & providing products that could help preserve & protect the surface, starting from small objects to huge infrastructure. In addition, paint additives also bring an aesthetic look to objects or buildings & act as a protective barrier to extend the life of that surface or substrate.
The Egypt Paint Additives Market is projected to grow at a CAGR of around 4.98% during the forecast period, i.e., 2022-27. The market growth attributes primarily to the growing government focus on developing the country's infrastructure, demonstrating an expansive building & construction sector, and augmenting the demand for paint additives. For instance:
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Region Covered||East, West, South, Central|
|Key Companies Profiled||AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GMBH, Cabot Corp., Daikin Industries Ltd., Evonik Industries, SIPES EGYPT, PPG Industries, Inc|
|Unit Denominations||USD Million/Billion|
Besides, with the massive government investments in energy-efficient & eco-friendly infrastructure, and immense expenditure on railways, roadways, ports, power, & utilities, the demand for paint additives shall further elevate and positively influence the industry growth. The same aspect shall also generate lucrative opportunities for the leading players to widen their product portfolio & increase their production & distribution capacities and cater to the burgeoning demands throughout the country.
Further, each manufactured product requires coatings of paints with appropriate additives for enhanced lifespan & performance of finished products. Additives prevent surfaces from severe conditions by protecting them against abrasion, corrosion, chemicals, moisture, & extreme temperatures. Hence, with the growing awareness among consumers about the benefits of paint additives, the demand is anticipated to accelerate significantly, especially across sectors like automobile & transportation, industrial, & furniture & wood, among others, and stimulate the overall industry growth in the coming years.
Key Trends in the Egypt Paint Additives Market
Water-based paints are less-toxic due to the limited use of solvents responsible for Volatile Organic Compound (VOC) emissions & other hazardous air pollutants & lead to smog when released directly into the atmosphere. Hence, numerous paint manufacturers are showing a change in their preferences toward water-based paints and hinting toward a burgeoning demand for these compounds across different industries.
Moreover, stringent environmental regulations imposed by the government are also propelling the demand for water-based paints, especially in construction activities, to mitigate the effect on human & animal health. Hence, the industry for paint additives is witnessing the emergence of trends like a rising adoption of water-based paints, making a significant contribution to the market growth.
With growing developments in additives, consumers are demonstrating a rising demand for multi-functional additives and aiding the overall market growth. Traditional coatings & additives offer one or two functions, yet multi-functional provide numerous additional performance benefits like self-healing anticorrosion, high conductivity, surface resistance to mildew, self-healing scratch repair, etc.
When these additives are added to paints, they help achieve the desired properties like gloss finish & high durability & are excellent in cost reduction by minimizing the need for different needs & simplifying the formulating process. It is why the industry is observing a mounting demand for multi-functional coatings & additives in Egypt.