Egypt Paint Additives Market Research Report: Forecast (2021-2026)
By Formulation (Water, Solvent, Powder Based, Others), By End-User (Automobiles & Transportation, Industrial, Furniture & Woods, Building & Construction), By Product (Rheology Modifiers, Biocides, Ant Read more
By Formulation (Water, Solvent, Powder Based, Others), By End-User (Automobiles & Transportation, Industrial, Furniture & Woods, Building & Construction), By Product (Rheology Modifiers, Biocides, Anti-Foamers, Wetting & dispersing agents, Others), By Region (East, West, South, Central), By Competitors (AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GMBH, Cabot Corp., Daikin Industries Ltd., Evonik Industries, SIPES EGYPT)
Paint additives are low-level ingredients added to paints to achieve specific properties, such as good flow, leveling, and resistance from external factors like UV light, dust, & rain. They also help improve paint properties, such as its performance, functionality, and efficiency.
According to MarkNtel Advisors’ research report, “Egypt Paint Additives Market Analysis, 2021,” the market is likely to grow at around 4.98% CAGR during 2021-26. The market growth most prominently attributes to the rising demand for paint additives across architectural end-user verticals. There has also been an increase in their usage in the construction industry due to their favorable characteristics. Besides, snowballing spending on construction activities is another essential aspect likely to boost the demand for paints and coatings, which, in turn, shall positively influence the overall market during the forecast timeframe.
Historical Data: 2016-20
Base Year: 2020
Forecast Period: 2021-26
Key Companies Profiled
AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GMBH, Cabot Corp., Daikin Industries Ltd., Evonik Industries, SIPES EGYPT
COVID-19 Pandemic Negatively Impacted the Egypt Paint Additives Market
The sudden outbreak of the COVID-19 pandemic negatively impacted various industries worldwide, and the Egypt Paint Additives Market was no exception. Several end-user verticals of the market, such as architecture, automotive, transportation, etc., got severely impacted, resulting in the temporary ban on cross-border trades and affecting the import & export of different products.
Additionally, the temporary shutdown of manufacturing units and disruption in the supply chain halted construction activities, resulting in declining demand for paint additives and affecting the overall market growth.
However, as the lockdown is gradually uplifting to resume business activities, various end-user verticals are likely to be back at their usual pace. Hence, with this, the demand for paint additives shall also surge steadily in the coming future.
Water-Based Formulations Accounted for the Largest Share of the Egypt Paint Additives Market
Based on Formulations, the market segments into Water, Solvent, and Powder-Based Formulations. Among these segments, Water-Based formulations captured significant market share in the Egypt Paint Additives Market in the previous few years and are likely to grow at a CAGR of around 5.3% during 2021-26. Additionally, rising demand for water-based additives across various end-user verticals owing to its properties like superior adhesion, high film density, and quick dry time is another critical aspect likely to drive the segment and overall market growth, cites MarkNtel Advisors in their research report, “Egypt Paint Additives Market Analysis, 2021.”
Building and Construction Attained the Highest Market Share
Based on the End-Users, the market bifurcates into Automobiles & Transportation, Industrial, Furniture & Woods, and Building & Construction. Of them all, the Building & Construction sector accounted for more than 75% share in the Egypt Paint Additives Market and is likely to grow at a CAGR of around 3% during the forecast period. The segment growth primarily owes to the rapid architectural development and surging construction activities, as per Egypt's 2030 Vision, thereby augmenting the demand for paint additives. Additionally, the increasing use of paint additives in decorative paints to enhance the exterior look of the building structures is another critical aspect likely to boost the overall segment growth in the forecast period.
Rising Demand for Durable Products from Various Industries
Massive investment is done for infrastructural development and making industrial metals due to the rising need for creating robust and wear-resistance products or building structures. Hence, this leads to aiding the demand for paint additives to enhance the properties of paints like appearance, durability, and non-corrosiveness.
Stringent Regulations to Reduce VOC Emissions
Paint additives are environmentally unfriendly due to the presence of hazardous volatile organic compounds. Therefore, the surge in the emission of volatile organic compounds (VOCs) and hazardous air pollutants give rise to environmental concern. Hence, the enactment of stringent regulations to curb the pollution caused by dangerous emissions hampers the overall growth of the paint additives market.
According to MarkNtel Advisors, the major leading players in the Egypt Paint Additives market are AkzoNobel N.V., Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GMBH, Cabot Corp., Daikin Industries Ltd., Evonik Industries, SIPES EGYPT.
Key Questions Answered in the Market Research Report:
What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Egypt Paint Additives Market?
What are the region-wise industry size, growth drivers, and challenges?
What are the key innovations, opportunities, current & future trends, and regulations in the Egypt Paint Additives Market?
Who are the key competitors, their key strengths & weaknesses, and how they perform in the Egypt Paint Additives Market based on a competitive benchmarking matrix?
What are the key results derived from the market surveys conducted during the Egypt Paint Additives Market study?
Market Outlook, Segmentation, and Statistics
Impact of COVID-19 on Egypt Paint Additives Market
A. The Egypt Paint Additives Market is forecast to grow at a CAGR of 4.98% during 2021-26.
A. AkzoNobel NV, Arkema SA, Ashland Inc., BASF SE, BYK-Chemie GMBH, Cabot Corp., Daikin Industries Ltd., Evonik Industries, SIPES EGYPT are a few of the leading players in the Egypt Paint Additives Market.
A. The Water-Based segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Increasing demand for paint additives from various end-user sectors, including architectural, industrial, automotive industries due to their properties, is the prime factor fueling the market growth.
A. Due to the sudden outbreak of the COVID-19 pandemic, the Egypt Paint Additives Market has been adversely affected, owing to the lockdown imposed, which led to a halt on most construction activities. It also caused a temporary ban on export & import and supply chain disruptions, thus negatively impacting the overall market growth.