Key Players in the Middle East Water Borne Coating Additives Market are BASF SE (Germany), The Dow Chemical Co. (U.S.), and Evonik Industries AG (Germany)
(PRWEB) December 28, 2014
The Middle East Water Borne Coating Additives Market report defines and segments the concerned market with analysis and forecast of revenue.
Water is a universal solvent, except, when used as a dispersant in water-borne coating systems. On the other hand, when this solvent turns to be a VOC (Volatile Organic Compound), it may prove to be harmful to the environment. This is primarily because such VOCs form hazardous chemical compounds, while coming in contact with the atmosphere. In water-borne systems, water is not only used as a solvent (alternatively known an emulsion) but also used to make resin emulsion. Therefore, water being an unrestricted solvent, is expected to drive the demand for water-borne coating additives in the future.
The Middle East has contributed to about 4% of the total water borne coatings market in 2013, wherein Saudi Arabia is the leading market, followed by Qatar and UAE. The market prospects of water borne coating additives in Qatar continue to remain positive. This market growth is mainly attributed to the increasing demand of coating additives among varied end-user applications.
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The upgrade of infrastructural facilities, especially during the preparation of FIFA World Cup 2022 in this region, has resulted in the rapid progression of the construction industry. This has further fueled the growing demand of water borne coating additives. Hence, Qatar is considered to be the fastest growing region in the Middle East and Africa water borne coating additives market, due to the incessant rise in expenditures, especially in the construction sector of this region.
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The regional governments of Middle East and Africa are focusing on environmental development, which offers additional opportunities for the widespread adoption of water-borne coating additives. The region is also attracting major players in the coating additive industry, so as to expand their businesses in this market segment. With this rapid shift towards eco-friendly products, the demand for water-borne coating additives is expected to grow at a higher rate in comparison to solvent-borne additives.
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