Market Size of Morocco Paints And Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.06 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Morocco Paints & Coatings Market Analysis
The Morocco Paints and Coatings Market is estimated at USD 358 million currently and is expected to reach USD 416.24 million over the forecast period, registering a CAGR of over 3% during the forecast period..
Due to the COVID-19 outbreak, nationwide lockdowns across the world resulted in disruption in manufacturing activities and supply chains. However, the conditions started changing in 2021, restoring the market's growth during the forecast period.
- Over the short term, the accelerating growth of the construction industry and growth in the wood furniture market are some of the factors driving the growth of the market.
- On the flipside, less availability of raw materials is a key factor anticipated to restrain the growth of the market over the forecast period.
- Nevertheless, the emergence of eco-friendly paint and coating resins is likely to create lucrative growth opportunities for the global market.
- By resin type, acrylic resin is expected to dominate the market studied over the forecast period.
