Middle East and Africa Decorative Paints Market to Grow at a CAGR of 4.4% to reach US$ 8,021.11 Mn Million from 2021 to 2028

Middle East and Africa Decorative Paints Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Water Based and Solvent Based) and Application (Residential and Non-Residential)

Publication Month : Jul 2021

  • Report Code : TIPRE00023457
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 91
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The decorative paints market in Middle East & Africa is expected to grow to US$ 8,021.11 million by 2028 from US$ 5,704.76 million in 2020. The market is estimated to grow at a CAGR of 4.4% from 2020 to 2028.



Sustainability has become significant parameter in the advanced manufacturing set-up industry. The increased focus towards environment along with introduction of improved and sustainable form of materials has often been associated with the growth of the market. In paints industry, the potential use of sustainable and environment friendly form of paints is rising tremendously. This has a positive impact on the demand for decorative paints. The use of lead free and minimal Volatile Emission Control based decorative or architectural paints is rising for commercial and residential application bases. To embrace the rising concept, several manufacturers have entered into eco-friendly polymers which can be used in production of decorative paints business. For instance, manufacturers such as Croda International Plc is involved in providing sustainable ingredients to be deployed in decorative paints so as to promote the trend towards more environmentally friendliness, supported by legislation and consumers. The demand for ecofriendly paints is rising ubiquitously with the growing focus upon enhancing the indoor air quality along with strong durability. The surge in demand for low VOC paints in architectural and decorative paints industry is promoted by rising investment in residential and commercial construction activities with stringent government regulations. Besides low and zero VOC based paints, focus is made to develop paints using natural raw materials such as water, plant based oils, raisins, dyes and essential oils which do not impact environment and human health. Thus, all such trends are expected to promote the growth of the market in region.

South Africa has the largest COVID-19 cases in the Middle East and Africa region, and is followed by UAE and Saudi Arabia among others. UAE was the first country in Middle East and Africa to report a confirmed case of coronavirus. The ongoing pandemic has drastically altered the status of the chemical industry and have negatively impacted the growth of the decorative paints market. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. In addition, decorative paints are majorly utilized in construction applications thus halt in such activities due to COVID-19 has greatly affected the market growth. The disruptive value chain had a negative impact on raw material supply, which, in turn, is impacting the growth of the decorative paints market. However, as the economies are planning to revive their operations, the demand for decorative paints is expected to rise globally. Although the focus over just in time production is another concerning factor hindering market growth. With the growing focus over developing economy in post-pandemic times, the demand for decorative paints is expected to take huge leaps due to expanding application bases. Further, positive measures undertaken by government along with distributed generations and incorporation of advanced technology is, yet another factor expected to bolster market growth.

With the new features and technologies, companies can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the decorative paints market. The Middle East & Africa decorative paints market is expected to grow at a good CAGR during the forecast period.

 Middle East & Africa Decorative Paints Market
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Middle East & Africa Decorative Paints Market Segmentation

Middle East & Africa Decorative Paints Market – By Type

  • Water based
  • Solvent based

Middle East & Africa Decorative Paints Market – By Application

  • Residential
  • Non-Residential

Middle East & Africa Decorative Paints Market – By Country

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Middle East & Africa Decorative Paints Market – Companies Mentioned

  • Akzo Nobel N.V.                                                     
  • BASF SE                                                                     
  • Dow Inc.                                                                    
  • PPG Industries, Inc.                                                 
  • RPM International, Inc.                                          
  • Axalta Coatings Systems                                        
  • Kansai      
  • Nippon Paint                                                             
  • Asian Paints                                                                                                                                
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Saudi Arabia

  1. Akzo Nobel N.V.                                                     
  2. BASF SE                                                                     
  3. Dow Inc.                                                                   
  4. PPG Industries, Inc.                                                 
  5. RPM International, Inc.                                          
  6. Axalta Coatings Systems                                         
  7. Kansai     
  8. Nippon Paint                                                             
  9. Asian Paints                  

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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