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Egypt Floor Coating Market Overview
The Egypt Floor Coating Market size is projected to reach USD250 million by 2027, after
growing at a CAGR of around 6.7% from 2022 to 2027. The floor coatings are a protective layer of coatings that are used in floor surfaces to offer protection
from corrosion, spill and wear. Various types of coatings such as polyaspartic,
methyl methacrylate, epoxy-based, thermoplastic based and others are widely
used in industrial, commercial and residential spaces. The rising demand for
improved surface strength in the residential sector such as for housing,
residential buildings and others is boosting the growth in Egypt floor coatings
industry. The government's initiative to expand the infrastructural and
construction sector is influencing the demand for floor coatings in Egypt owing
to its features such as protection, aesthetics and durability, thereby offering
major growth opportunities during the forecast period. The covid-19
outbreak created a hamper in Egypt floor coatings, however with recovery in
construction and architectural activities, the Egypt floor coating industry
experienced major demand, thereby experiencing a major drive. Furthermore, with
growing application of floor coatings in housing and building projects, the Egypt Floor Coating Market will grow and contribute to the rising Egypt Floor Coating Market size during the forecast period.
Report Coverage
The “Egypt Floor Coating Market Report– Forecast
(2022-2027)” by IndustryARC covers an in-depth analysis of the
following segments in the Egypt Floor Coating industry.
Key Takeaways
- The Egypt Floor Coating Market size will increase owing to its rising application in commercial, residential and industrial building & construction sectors during the forecast period.
- The high growth of Egypt Floor Coating in construction sector is influenced by its increasing application in floor polishing, protection coating and barrier from chemical, moisture and wear for residential housing, office buildings, manufacturing units and others.
- The high demand of epoxy based resin in Egypt Floor Coatings is due to its flourishing usage in eco-friendly water based floor coatings and suitability across various construction spaces.
Figure: Egypt Floor Coating Market Revenue Share By End-Use Industry, 2021 (%)
Egypt Floor Coating Market Segment Analysis – by Resin
By resin, the epoxy held a significant Egypt Floor Coating Market share in 2021 and is expected to grow with a CAGR of around 8.5% during the forecast period. Epoxy floor coatings has major application in concrete floors, mortar and other flooring material for commercial and residential spaces such as retail stores, residential housing, warehouses and others over thermoplastic based, acrylic-based and others. Moreover, the flourishing demand of epoxy in the construction sector is influenced by its superior properties such as stain resistance, heat resistance, spill protection and chemical resistance. The increasing usage of epoxy-based floor coatings in Egypt for architectural and construction activities is boosting the market growth. According to the Central Bank of Egypt (CBE) data, around USD 547 billion was invested in Egypt’s infrastructure between FY 2015-16 and FY 2019-20 with 10% share of building and construction. Thus, with major demand for epoxy resin based floor coatings in Egypt, the Egypt floor coating industry will grow rapidly during the forecast period.
Egypt Floor Coating Market Segment Analysis – by End-Use Industry
By end-use industry, the residential segment held the largest Egypt Floor Coating Market share in 2021, with a share of over 45%. The Egypt floor coatings have major demand in the residential construction sector in kitchens, residential housing, apartments and others. This is due to superior features such as moistures prevention, spill proof and heat resistance of the thermoset polymer resins such as epoxy coatings. Moreover, the rising residential housing and building development projects, along with strong growth in construction activities, the demand of Egypt floor coatings is growing rapidly. According to the World Bank and OECD national accounts data, the value added by the construction sector in Egypt accounted for 32% in 2020. Thus, with major advancement and development in the construction and infrastructural sector, the demand for Egypt floor coatings will grow, as a result of which the Egypt Floor Coating Market share will be flourished during the forecast period.
Egypt Floor Coating Market Drivers
Growing Demand for Eco-friendly Coatings in Various Building Projects:
The high
demand of eco-friendly water based floor coating is growing rapidly for various
building and construction projects in Egypt. The demand for epoxy coating with
low or no VOC content for application in the architectural and building project
in Egypt and nearby region is driving the market owing to less toxicity and low
emissions in the environment. Furthermore,
the announcement of projects adopting eco-friendly coatings is boosting the
demand in the Egypt floor coatings industry. For instance, the Green Cities
program in Egypt, Cairo aims to provide investment in infrastructure that
reduces greenhouse emissions. The Nor City project in Egypt worth USD 31.8
billion plans for the development of 140,000 housing units as on June 2021. Thus,
the adoption and innovative development for eco-friendly floor coatings is
offering major growth opportunities in the market.
Rise in Buildings and Construction Activities:
The construction industry in Egypt is growing rapidly. The flourishing
usage of floor coatings in residential spaces such as apartments, housing and
others and commercial spaces such as hotels, shopping malls, office buildings and others is creating high demand in the market. Moreover, the rising
renovation and remodeling activities on buildings and other architectural
spaces is influencing the growth of Egypt floor coatings industry. According to
the International Trade Administration, the infrastructure and construction
sector in Egypt is expected to grow 9% in 2020-24. The growing Investment in building and construction projects is offering a major drive in the market.
Thus, the Egypt floor coating industry is experiencing high demand and major
growth opportunities.
Egypt Floor Coating Market Challenges
Fluctuation in Raw Material Prices and Environment Threat
The rise in
the prices of raw materials and fluctuation in the crude oil prices creates a
major hamper in the Egypt Floor Coating Market. The raw materials including
resins, solvents monomers and other thermoplastics are majorly affected by the
fluctuating prices of crude oil, thereby creating a challenge for application and
production activities. Furthermore, the hazardous effects of solvent-based resins such as polyaspartic, methyl methacrylate and others lead to major
hazardous impacts on the environment. Thus, owing to price fluctuations and
major environmental hazards, the Egypt floor coating industry faces a slowdown and
growth hamper.
Egypt Floor Coating Industry Outlook
Technology
launches, acquisitions and R&D activities are key strategies adopted by
players in the Egypt Floor Coating Market. The top 10 companies in the Egypt floor Coating Market include:
- PPG Industries
- BASF SE
- Mido Coatings
- SIPES Egypt
- Orient Paints
- PACHIN
- Sika AG
- The Sherwin-Williams Company
- Kansai Paint Co. Ltd.
- Arkema S.A.
Recent Developments
- In May 2022, the Arsenal Capital Partner that its subsidiary, Seal for Life Industries has acquired the coatings companies named Mascoat Ltd. and Verdia Inc., a leading polymer flooring coatings manufacturer. This purchase will offer major growth and innovative technology in the market.
- In January 2021, the PPG Industries announced the agreement to acquire VersaFlex, a manufacturer specializing in epoxy, polyurea and polyurethane coatings for flooring, infrastructure and industrial applications.
Relevant Reports
Report Code: CMR 78399
Report Code: CMR 28592
Report Code: CMR 74261
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