Report : Middle East and Africa Aerosol Paints Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Raw Material (Acrylic, Alkyd, Epoxy, Polyurethane, and Others), Technology (Solvent-Borne, Water-Borne, and Others), and Application (Construction Industry, Automotive and Transportation, Wood and Furniture Industry, Packaging, and Others)
Acrylic is expected to be the Fastest Growing Segment during the Forecast Period 2021–2028
According to a new market research study on “Middle East & Africa Aerosol Paints Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Raw Material, Technology, and Application,” is expected to reach US$ 378.22 million by 2028 from US$ 307.26 million in 2021. The market is estimated to grow at a CAGR of 3.0% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa aerosol paints market along with the drivers and restraints pertaining to the market growth. Expanding focus towards sustainable aerosol paint solutions, ramping innovations for packaging of aerosol paints, and burgeoning demand from automotive industry are the major factor driving the growth of the Middle East & Africa aerosol paints market. However, forcible regulations pertaining to use of aerosol paints hinder the growth of Middle East & Africa aerosol paints market.
Turkey has the highest number of COVID-19 cases in the Middle East and Africa, followed by South Africa and the UAE, among others. The UAE was the first country in the Middle East and Africa to report a confirmed case of COVID-19. The pandemic has had the most influence on the production, logistics, and tourism & travel industries. The virus outbreak propelled the governments of numerous countries to impose a lockdown to decrease the spread of the virus. Due to lockdown in the Middle East and African countries, various chemicals and materials companies remain closed which led to the reduction in the sale of various products which has negatively impacted the market for aerosol paints market in the region.
The Middle East & Africa aerosol paints market is segmented on the bases of raw material, technology, application, and country. Based on raw material, the market is bifurcated into acrylic, alkyd, epoxy, polyurethane, and others. In 2020 alkyd segment held the largest share in the market and acrylic is expected to be the fastest growing segment during the forecast period. Based on technology, the aerosol paints market is bifurcated into solvent-borne, water-borne, and others. In 2020 solvent-borne segment held the largest share in the market and water-borne segment is expected to be the fastest growing segment during the forecast period. Based on application, the aerosol paints market is bifurcated into construction industry, automotive and transportation, wood and furniture industry, packaging, and others. In 2020 construction industry segment held the largest share in the market and automotive and transportation segment is expected to be the fastest growing segment during the forecast period Similarly, Based on country the market is segmented into the South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa. In 2020 the Rest of Middle East & Africa held the largest share in the market and the UAE is expected to be the fastest growing country during the forecast period
The Sherwin-Williams Company; Kobra Paint - Spray Art Technologies; Montana Colors S.L.; Nippon Paint Holdings Co., Ltd; PPG Industries Inc.; Rust Oleum are among the leading companies in the Middle East & Africa aerosol paints market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Montana Colors S.L. extended its product line of MTN PRO spray paints by adding four new products including the Marble Effect Paint, the Paint for Bathtubs and Tiles, the Radiator Paint and the Luminous Paint.
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