The Egyptian protective coatings market size is expected to expand at a CAGR of over 3% during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand from the oil and gas industry.
Protective coatings are thin layers of solid material that are applied to a substrate to function as a barrier to prevent corrosion. After being applied to a surface, each liquid, liquefiable, or mastic mixture is transformed into a solid protective, ornamental, or useful adherent layer. These coatings can be applied using hand tools, sprayed on, welded on, or plated on.
Protective coatings can assist a substrate endure concerns like wear and water exposure in addition to corrosion resistance. They can also enhance the visual appearance of the item. Protective coatings are applied to overhead structures such as flyovers and bridges, especially during refurbishment, to increase their lifetime and delay their replacement. They are used to decrease damage to concrete surfaces as well as to stop or greatly slow the corrosion of steel reinforcing.
According to a NACE research, the total yearly cost of organic and metallic protective coatings in the United States is $108.6 billion. According to the study, 50 percent of all corrosion expenditures may be avoided, with coatings accounting for 85 percent of them.
The Covid-19 pandemic affected the demand and supply of protective coatings market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
According to the International Food Policy Research Institutes, Egypt, the epidemic would reduce Egypt's national GDP by 0.7–0.8 percent. The gradual lifting of the lockdown, on the other hand, is expected to boost the economy and boost the Egypt coatings industry's sagging development.
Egyptian Protective Coatings Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand from the oil and gas industry is anticipated to propel the market during the forecast period.
- Rapid growth of the building and construction industry is the major factor driving the market.
- High price of raw materials is estimated to hinder the market growth.
- Regulations related to VOC emissions act as main challenge that can hinder the market expansion during the forecast period.
- R&D investment and technological advancements are anticipated to offer lucrative growth opportunities for the market players.
Scope of Egyptian Protective Coatings Market Report
The report on the Egyptian protective coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Egyptian Protective Coatings Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Resin Types (Epoxy, Polyester, Polyurethane, Vinyl Ester, and Others), Technology (Water-borne, Solvent-borne, Powder, and Others), and End-user (Oil & Gas, Mining, Power, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Jotun, Sipes Egypt, Sigma Paints Egypt Ltd (PPG Industries Inc.), and Akzo Nobel N.V.
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Egyptian Protective Coatings Market Segment Insights
Type Segment Analysis
Based on types, the market is segregated into epoxy, polyester, polyurethane, vinyl ester, and others. The acrylic resins are the most extensively utilised polymers. Acrylic paints are available in a variety of forms, including emulsions (latices), lacquers (lower volume solids), enamels (greater volume solids), and powders (100 percent solids).
Acrylic polymers, such as methyl and butyl methacrylate are available in a range of forms and combinations. The thermoplastic and thermoset are the most common types of acrylic. Acrylic resins for thermoplastics are synthetic resins made by polymerizing various acrylic monomers. Thermosets are cured by interacting with other polymers at high temperatures.
Technology Segment Analysis
On the basis of technology, the Egyptian protective coatings market is fragmented into water-borne, solvent-borne, powder, and others. Solvent-based coatings are created using liquefying ingredients that evaporate when exposed to oxygen in a chemical reaction. Moving air around a solvent-based coating speeds up the process, cutting drying time in half.
The solvent-based coatings are less vulnerable to external variables such as temperature and humidity during the curing period, such as temperature and humidity. Humidity can prevent water from evaporating in water-based coatings, making their usage impracticable in many situations. ?
Organic solvents are used in coatings due to features such as making the application, drying, and creation of a regular coating film easier. When the film evaporates, these solvents release volatile organic compounds (VOCs) into the atmosphere, which have a detrimental effect on the environment.
The expanding uses of solvent-based coatings are expected to drive the market (as coatings for doors, cabinet and furniture, metal doors and railings, industrial equipment, and maintenance of steel structures). Furthermore, the availability of environment friendly alternatives in the form of water-based coatings has impacted the demand for solvent-based coatings.
End-users Segment Analysis
In terms of end-users, the Egyptian protective coatings market is segregated into oil & gas, mining, power, and others. The infrastructural segment is projected to hold major market share during the forecast period. The infrastructure segment includes significant elements such as railroads, bridges, and highways. Egypt's infrastructure is about to undergo a major transformation.
According to the G20's Global Infrastructure Outlook, Egypt would need an extra USD 675 billion in infrastructure investment over the next 20 years to address its fast rising demands. The market for protective coatings in the area is expected to increase during the forecast period due to all of the aforementioned factors.
Segments
The Egyptian protective coatings market has been segmented on the basis of
Resin Type
- Epoxy
- Polyester
- Polyurethane
- Vinyl Ester
- Others
Technology
- Water-borne
- Solvent-borne
- Powder
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the Egyptian protective coatings market include Jotun, Sipes Egypt, Sigma Paints Egypt Ltd (PPG Industries Inc.), and Akzo Nobel N.V.
Some of these players are using product launch, acquisition, business expansion, collaboration, investment, and agreement, to stay competitive in the protective coatings market to enhance their market shares.
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