Market Size of Middle-East and Africa Paints and Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Paints and Coatings Market Analysis
The Middle East and Africa Paints and Coatings Market is estimated to register a CAGR of over 3% over the forecast period.
The market was impacted due to the COVID-19 pandemic in 2020. However, the market witnessed growth in 2021 owing to increasing infrastructure demand in various regions. Construction, automotive and transportation, and the wood sectors all employ paints and coatings. They have a significant application in the building and construction business, where they are used to protect structures from external harm. Furthermore, the market is expected to expand in the coming years as governments focus on boosting public spending to undertake new projects.
- A major factor driving the market studied is the increased focus on tourism and construction in the Middle East.
- On the flip side, the slowdown in the automotive sector is expected to hinder the market's growth.
- Architectural coatings dominated the market, and the segment is expected to grow during the forecast period, owing to the increasing construction activities across the region.
- Rising demand for eco-friendly products, growth prospects in Oman, and plans for new luxury real estate projects in Qatar are likely to act as an opportunity for the market studied.
