The South Africa Paints And Coatings Market size is estimated at USD 725.64 million in 2024, and is expected to reach USD 844.01 million by 2029, growing at a CAGR of greater than 3% during the forecast period (2024-2029).
The COVID-19 pandemic negatively affected the market owing to several restrictions imposed by the South African government. The pandemic negatively affected the building, construction, and automotive industries, affecting the country's market for paints and coatings. However, the market recovered well after the restrictions were lifted, which led to a rise in the country's consumption of paints and coatings in building construction and automotive end-user industries.
The increasing construction activities in South Africa and the increasing demand for protective coatings are significant factors driving the market's growth.
However, fluctuations in the prices of raw materials and strict regulations on VOC(volatile organic compounds) emissions are likely to restrain the growth of the high VOC coatings market.
Nevertheless, the rising demand for bio-based paints and coatings is expected to create opportunities for the market during the forecast period.
South Africa's paints and coatings market is partially consolidated in nature. Some of the key players in the market (not in any particular order) include Akzo Nobel N.V., Axalta Coatings Systems, Jotun, PPG Industries, Inc., and The Sherwin-Williams Company.
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