Market Size of Middle East And Africa Polyurethane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.55 Billion |
| Market Size (2029) | USD 3.28 Billion |
| CAGR (2024 - 2029) | 5.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East and Africa Polyurethane Market Analysis
The Middle East And Africa Polyurethane Market size is estimated at USD 2.55 billion in 2024, and is expected to reach USD 3.28 billion by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
- The COVID-19 outbreak negatively impacted the market. Stoppage or slowdown of projects, movement restrictions, production halts, and labor shortages to contain the COVID-19 outbreak led to a decline in the polyurethane market growth. However, it recovered significantly from 2021, owing to rising consumption from various end-use applications, including furnishing, interiors, and automotive.
- Over the short term, increasing demand from the building and construction industry and growing requirement for thermal insulation from the electronics and appliances industry are some of the major factors driving the growth of the market studied.
- On the flip side, volatile raw material prices and the toxic nature of polyurethane coatings are expected to hinder the growth of the market.
- Growing awareness of the Energy Efficiency Policy related to buildings in the Middle Eastern region is likely to act as an opportunity for market growth in the future.
- Saudi Arabia is expected to dominate the market and will also witness the highest CAGR during the forecast period.
