Fluoropolymers coating additives are used widely in paints & coatings in order to enhance the longevity and efficiency of the coatings used in automotive, buildings, and furniture. With the growing construction industry in the Middle East region, the demand for paints & coating additives is expected to grow significantly. As a result, the fluoropolymers coating additives market in the MEA region is projected to witness phenomenal growth in the coming years.
The Middle East Fluoropolymer coating addtives market accounted for a 3.62% share of the global fluoropolymers coating additives market in 2013. The Middle East region in this market is expected to be the fastest-growing growing segment, projected to grow at a CAGR of 10.5% during the forecast period 2013– 2018. The Middle East construction segment, among other applications, is considered to be the largest consumer of fluoropolymers additives, after accounting for a market share of 34.73% in 2013. The automotive paints segment is however, expected to be the fastest-growing application in the coming years, projected to grow at a CAGR of 11.2% from 2013 to 2018.
The construction industry in this region was observed to have grown at a rate greater than the growth rate of the global industry. The easing of governmental regulations on residential mortgages, along with the rise in purchasing power of the population, has resulted in the expansion of construction industries in this region, thereby becoming a significant growth factor of this market. Prominent companies contributing to the growth of fluoropolymers coating additives market, include The Dow Chemical Co. (U.S.), Lubrizol Corporation (U.S.), and Byk-Chemie GmbH (Germany) among others.
The Middle East and Africa fluoropolymers coating additives market report provides details of market segmentation, competitive scenario, and company profiles of top market players. It also lays emphasis on varied market dynamics, value chain analysis, and evaluation of key growth strategies adopted by companies sustaining their position in this market.