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MARKET OUTLOOK

Triton’s report on the smart coatings market in the Middle East and Africa has determined the industry to progress with a CAGR of 24.39% over the forecast period 2021-2028. Saudi Arabia, Turkey, South Africa, the United Arab Emirates, and Rest of Middle East & Africa constitute the market in this region.

The United Arab Emirates is home to several domestic companies, which helps the growth of the country’s smart coatings market. For example, Dubai-based Weicon Middle East LLC offers several technical sprays for coating and corrosion protection, which can be used in a range of applications. Its metal sprays are weather- and corrosion-resistant surface coatings, and can be used wherever an effective, durable protective layer is required. TuffGuard LLC is another one that offers anti-corrosion coatings.

On the other hand, in South Africa, the airport management company – Airports Company of South Africa (ACSA) – announced upgradation and improvements at six airports over the next few years. Global players, such as Boeing and Airbus, are expecting strong growth in the country’s commercial aviation segment in the future. Furthermore, these players are looking forward to forging partnerships and joint ventures as viable options for expanding their footprint in the domestic market. The growth in the automotive sector will translate into a growth in the demand for smart coatings in South Africa. This contributes to the growth of the studied market in the years to come.

COMPETITIVE OUTLOOK

3M Company, BASF SE, NEI Corporation, EI Du Pont De Nemours & Company, Eastman Chemical Company, The Sherwin Williams Company, Tesla NanoCoatings Inc, and Royal DSM NV are some of the prominent companies present in the smart coatings market.