Iraq Paints & Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 243.22 Million |
| Market Size (2029) | USD 293.65 Million |
| CAGR (2024 - 2029) | 3.84 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Iraq Paints & Coatings Market Analysis
The Iraq Paints and Coatings Market size is estimated at USD 243.22 million in 2024, and is expected to reach USD 293.65 million by 2029, growing at a CAGR of 3.84% during the forecast period (2024-2029).
The primary factor driving the market studied is the increasing investments in the oil and gas and construction sectors. The fluctuation of oil and raw materials prices, political insecurity, and the outbreak of COVID-19 are likely to hinder the market's growth.
- By resin type, the acrylic resin segment is expected to dominate the market due to increased usage in coating applications due to its properties like transparency and UV resistance.
- By end-user industry, the architectural segment is expected to dominate the market due to increased construction activities in the region.
- By province, Southern Province dominated the market, with more than 60% share in 2021.
Iraq Paints & Coatings Market Trends
This section covers the major market trends shaping the Iraq Paints & Coatings Market according to our research experts:
Industrial Sector to Dominate the Market
- High industrial development rates, the growth of production processes, and the increase in basic technological parameters (pressure, temperature, the concentration of reactants, etc.) are driving the demand for reliable operation of equipment and building structures.
- A special significance in the complex of measures to guarantee the uninterrupted operation of equipment is rewarded to the development of reliable protective coatings and the use of high-quality and affordable chemical-resistant materials. The protective coatings are used in industries, such as oil and gas, power, and infrastructure.
- Northern Iraq dominates the industrial coatings market, with almost 56% of the total industrial coatings market. This is primarily due to various oil fields and oil refineries in the region.
- The region constitutes almost 64% of the total refineries in the country, with Salahuddin consisting of two refineries and one each in provinces such as Erbil, Nineveh, Kirkuk, etc.
- For instance, the government plans to increase the production capacity of the Haditha refinery in Anbar province by adding two additional units with 10,000 barrels per unit. Also, the government's focus on investing in the region due to economic stability is likely to impact the market positively.
- The Kurdistan region has almost 14 power plants and produces approximately 4,000 Mw. It plans to increase the production through natural gas and aims to provide almost 6,700 Mw of electricity.
- Such factors are boosting the demand for industrial coatings in the country.
South Iraq to Dominate the Market
- The provinces considered under North Iraq include Sulaymaniyah, Nineveh, Erbil, Kirkuk, Dohuk, Salahuddin, Diyala, and Al Anbar. The provinces considered under South Iraq include Baghdad, Basra, Maysan/Missan, Muthanna, Dhi Qar, Babil, Wasit, Karbala, Najaf, and Qadisiyah. South Iraq region dominates the market with more than 60% share.
- Southern Iraq is also likely to witness significant growth in the paints and coatings sector, primarily from residential and commercial construction activities.
- The residential construction project comprising almost 704 housing units, a kindergarten school, health center, and a mosque resumed at Basra Governorate, likely to favor the market demand.
- Also, based on National Investment Commission (NIC), Babil, Wasit, Karbala, and Najaf are likely to witness more investments in the housing sector.
- The government announced plans to construct residential units for workers in the Karbala governate to curb the housing crisis, likely to be funded by the General Federation of Iraqi workers and some local investors.
- Such factors are boosting the demand for coatings in the country.
Iraq Paints & Coatings Industry Overview
The Iraq paints and coatings market is majorly dominated by international players like Mido Coatings, Berger Paints, Akzo Nobel, Asia Paints Company, Mido Coatings, Hempel, etc., along with the only major local player Al-Tabieaa Company. Al-Tabieaa Company is the leading player in the market studied, with an extensive product portfolio of coatings in the architectural, wood finishes, and industrial segments.
Iraq Paints & Coatings Market Leaders
-
Al-Tabieaa Company
-
Jotun
-
Asian Paints Berger
-
Asia Paints Company
-
Modern Paints Industries
*Disclaimer: Major Players sorted in no particular order
Iraq Paints & Coatings Market News
- In April 2019, Nippon Paint Holdings Co. Ltd acquired Turkish Paint Manufacturer Betek Boya ve Kimya Sanayi Anonim Şirketi.
- In December 2018, Jazeera Paints opened its second showroom in Iraq in the Sulaymaniyah province, Kurdistan region. It offers various paints for different applications.
- In August 2018, CaparolPaints signed a series of partnership agreements with contractors from Iraq to increase its market reach.
Iraq Paints & Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Construction Activities in Iraq
- 4.1.2 Increasing Investment in the Oil and Gas Industry
-
4.2 Restraints
- 4.2.1 Impact of COVID-19
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porters Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
-
5.1 Resin Type
- 5.1.1 Acrylic
- 5.1.2 Alkyd
- 5.1.3 Polyurethane
- 5.1.4 Epoxy
- 5.1.5 Polyester
- 5.1.6 Other Resin Types
-
5.2 Technology
- 5.2.1 Water-borne
- 5.2.2 Solvent-borne
- 5.2.3 Other Technologies
-
5.3 End-user Industry
- 5.3.1 Architectural
- 5.3.2 Automotive
- 5.3.3 Wood
- 5.3.4 Industrial
- 5.3.5 Other End-user Industries
-
5.4 Province
- 5.4.1 North
- 5.4.2 South
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 Akzo Nobel NV
- 6.4.2 Al-Tabieaa Company
- 6.4.3 Asia Paints Company
- 6.4.4 Asian Paints Berger
- 6.4.5 Betek Boya ve Kimya Sanayi AS (Nippon paint Holdings Co. Ltd)
- 6.4.6 Caparol
- 6.4.7 EVI Vernici
- 6.4.8 Hempel AS
- 6.4.9 Jazeera Paints
- 6.4.10 Jotun
- 6.4.11 MAS PAINTS & CHEMICAL INDUSTRIES
- 6.4.12 Modern Paint Industries Company
- 6.4.13 Nasr Paint
- 6.4.14 National Paints Factories Limited
- 6.4.15 Silkcoat
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityIraq Paints & Coatings Industry Segmentation
The Iraq paints and coatings market is segmented by resin type, technology, and end-user industry. By resin type, the market is segmented into Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types. On the basis of technology, the market is segmented into Water-borne, Solvent-borne, and Other Technologies. By end-user industry, the market is segmented into Architectural, Automotive, Wood, Industrial, and Other End-user Industries. The market is also segmented into North and South Province.
For each segment, the market sizing and forecasts have been done on the basis of both volume (tons) and revenue (USD million).
| Resin Type | Acrylic |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types | |
| Technology | Water-borne |
| Solvent-borne | |
| Other Technologies | |
| End-user Industry | Architectural |
| Automotive | |
| Wood | |
| Industrial | |
| Other End-user Industries | |
| Province | North |
| South |
Iraq Paints & Coatings Market Research FAQs
How big is the Iraq Paints and Coatings Market?
The Iraq Paints and Coatings Market size is expected to reach USD 243.22 million in 2024 and grow at a CAGR of 3.84% to reach USD 293.65 million by 2029.
What is the current Iraq Paints and Coatings Market size?
In 2024, the Iraq Paints and Coatings Market size is expected to reach USD 243.22 million.
Who are the key players in Iraq Paints and Coatings Market?
Al-Tabieaa Company , Jotun, Asian Paints Berger , Asia Paints Company and Modern Paints Industries are the major companies operating in the Iraq Paints and Coatings Market.
What years does this Iraq Paints and Coatings Market cover, and what was the market size in 2023?
In 2023, the Iraq Paints and Coatings Market size was estimated at USD 234.23 million. The report covers the Iraq Paints and Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Iraq Paints and Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Iraq Paints and Coatings Industry Report
Statistics for the 2024 Iraq Paints and Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Iraq Paints and Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
