April 8, 2021 10:13 EST | Source: United Market Research United Market Research
Portland, Oregon, April 8, 2021 (Global News Agency)-According to a report released by the United Market Research Corporation, the Egyptian paint and coatings market is estimated to be US$2.2 billion by 2019 and is expected to reach 36% by 2027. Billion US dollars, the compound annual growth rate from 2020 to 2027 is 7.9%.
Increased building and construction activities in the region and growing demand for heat-resistant and UV-resistant paint and coating products have driven the growth of the Egyptian paint and coatings market. However, rising raw material prices hindered market growth. On the contrary, the surge in demand for environmentally friendly paint and coating products is expected to bring a series of opportunities to market participants in the future.
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The Egyptian paint and coatings market is divided according to resin type, technology and product type. According to the type of resin, the market is further subdivided into acrylic resin, alkyd resin, polyurethane resin, epoxy resin, polyester resin and so on. The acrylic resin segment dominates the market with nearly one-third of the total market share in 2019, and will lead trials throughout the forecast period. In addition, this segment is expected to exhibit the highest compound annual growth rate of 8.3% during the forecast period.
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According to technology, the market is divided into water-based, solvent-based, powder-based, etc. The solvent-based market segment accounted for the largest share in 2019, accounting for more than half of total revenue. However, it is expected that during the forecast period, the water-based segment will have the highest compound annual growth rate of 8.0%.
According to the product type, the market is divided into decorative paints and coatings and industrial paints and coatings. The decorative paint and coatings sector accounted for the largest share in 2019, accounting for more than three-quarters of the market. However, the industrial paints and coatings sector is expected to have the highest compound annual growth rate during the forecast period, at 8.1%.
The Egyptian Paints and Coatings Market Report includes in-depth analysis of major market players such as BASF SE, Akzo Nobel NV, KAPCI Coatings, PPG Industries, Inc., PACHIN, GLC Paints, Jotun A/S, Orient Paints, MIDO Paints and SIPES Egypt.
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