Egypt Paints & coatings market to grow at 7.9% CAGR from 2020 to 2027, As per the report published by Allied Market Research. Increase in building and construction activities in the region and growth in demand for heat & UV resistant paints & coatings products drive the growth of the Egypt paints & coatings industry.
However, rise in prices of raw materials hinders the Egypt paints & coatings market growth. On the contrary, surge in demand for eco-friendly paints & coatings products is expected to usher an array of opportunities for the market players in the future.
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Based on product type, the Egypt paints & coatings market is classified into decorative paints & coatings and industrial paints & coatings. The decorative paints & coatings segment held the largest share in 2019, accounting for more than three-fourths of the market. However, the industrial paints & coatings segment is projected to portray the highest CAGR of 8.1% during the forecast period.
- The prolonged lockdown during covid-19 outbreak temporarily suspended the import-export and disrupted the supply chain. In addition, the shortage of raw materials further restrained the production of paints & coatings.
- However, the industry has now restarted their production facility as the government bodies have eased off the regulations. Moreover, the demand for paint & coatings is expected to recover post-pandemic.
The Egypt paints & coatings market report includes an in-depth analysis of the key market players such as BASF SE, Akzo Nobel N.V., KAPCI Coatings, PPG Industries, Inc., PACHIN, GLC Paints, Jotun A/S, Orient Paints, MIDO Coatings, and SIPES Egypt.
Based on technology, the Egypt paints & coatings market is divided into water-based, solvent-based, powder-based, and others. The solvent-based segment held the largest share in 2019, with more than half of the total revenue. However, the water-based segment is estimated to register the highest CAGR of 8.0% during the forecast period.
The Egypt paints & coatings market is divided on the basis of resin type, technology, and product type. Based on resin type, the market is further segmented into acrylic resin, alkyd resin, polyurethane resin, epoxy resin, polyester resin, and others.
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The acrylic resin segment dominated the market with nearly one-third of the total market share in 2019, and would lead the trial throughout the forecast period. In addition, the segment is expected to manifest the highest CAGR of 8.3% during the forecast period.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.