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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.

Middle East Paints and Coatings Industry Segmentation

Paints and coatings can be classified as water-based and solvent-based based on the drying technique employed. Water-based coatings contain water as a volatile compound, and solvent-based coatings contain volatile compounds like benzene. Paints and coatings are used to decorate and protect buildings, appliances, automobiles, equipment, and others. The market is segmented by resin type, technology, end-user industry, and geography. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, radiation cure, and other technologies. By end-user industry, the market is segmented into architectural, automotive, wood, general industrial coatings, transportation, and other end-user industries. The report also covers the market size and forecast for the Middle-East paints and coatings market in eight countries across the region. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).