Market Size of Middle-East 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 | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Paints and Coatings Market Analysis
The Middle East paints and coatings market is projected to register a CAGR of over 3% during the forecast period.
In 2020, the construction industry slowed down due to the COVID-19 pandemic. However, in 2021, the market developed because of an increase in infrastructural developments in various nations across the region. Over the following years, the industry is expected to grow as governments increase public investments to fund new projects.
- Over the short term, constructing hotels and restaurants, re-painting historic hotels, and maintaining architectural and ornamental infrastructure (to attract visitors) will likely strengthen the market studied.
- The volatility in raw materials prices is expected to restrain the Middle-East paints and coatings market over the forecast period.
- The growing demand for eco-friendly products is expected to offer various opportunities for the market's growth over the forecast period.
- Saudi Arabia dominates the paints and coatings market within the region owing to surging construction activities. Kuwait is expected to be the fastest-growing country.
