Market Size of Middle-East and Africa Wood Coatings Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
|> 2.50 %
*Disclaimer: Major Players sorted in no particular order
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MEA Wood Coatings Market Analysis
The Middle-East and African wood coatings market size was estimated at over USD 361.10 million in 2021, and the market is projected to register a CAGR of over 2.5% during the forecast period (2022-2027).
The market witnessed a slight decline in early 2020 due to the COVID-19 outbreak, leading to lockdown and delays in the construction of projects and restricted activities. However, after lifting the lockdown, the industries are expected to witness a sharp increase by the mid-forecast period, which may, in turn, drive the demand for the market studied in the future.
- Over the long term, increasing applications in furniture and the growing construction industry in the middle eastern region are driving the market studied.
- On the flip side, rising concern toward volatile material emission is expected to hinder the growth of the market.
- Increasing demand for UV-cured coatings and shift toward water-borne coatings are expected to offer various lucrative opportunities for the growth of the market.
- By country, Saudi Arabia is expected to dominate the market during the forecast period.