Iraq Paints and Coatings Market Size (2024 - 2029)

The Iraq Paints and Coatings Market is projected to experience growth driven by investments in the oil, gas, and construction sectors. Despite challenges such as fluctuating oil and raw material prices, political instability, and the impact of COVID-19, the market is expected to expand. The acrylic resin segment is anticipated to lead the market due to its favorable properties for coating applications, while the architectural segment is expected to dominate in terms of end-user industry, supported by increased construction activities. The Southern Province holds a significant portion of the market share.

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Market Size of Iraq Paints and Coatings Industry

Iraq Paints And Coatings Market Summary
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

Iraq Paints And Coatings Market 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 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
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Iraq Paints and Coatings Market Size Summary

The Iraq paints and coatings market is poised for growth, driven by increased investments in the oil, gas, and construction sectors. The market is characterized by a significant demand for protective coatings, particularly in industries such as oil and gas, power, and infrastructure. The acrylic resin segment is expected to lead the market due to its favorable properties for coating applications. The architectural segment is also anticipated to dominate, fueled by the surge in construction activities across the region. Southern Iraq holds a substantial share of the market, with the Northern region also playing a crucial role due to its industrial coatings demand, supported by numerous oil fields and refineries.

The market landscape is competitive, with international players like Mido Coatings, Berger Paints, Akzo Nobel, and Hempel, alongside the prominent local player, Al-Tabieaa Company. Al-Tabieaa Company leads with a diverse product portfolio catering to architectural, wood finishes, and industrial segments. The market's growth is further supported by government initiatives and investments in residential and commercial construction projects, particularly in provinces like Basra and Karbala. These developments, coupled with strategic partnerships and expansions by key players, are expected to bolster the market's trajectory in the coming years.

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Iraq Paints and Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Construction Activities in Iraq

      2. 1.1.2 Increasing Investment in the Oil and Gas Industry

    2. 1.2 Restraints

      1. 1.2.1 Impact of COVID-19

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Resin Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Alkyd

      3. 2.1.3 Polyurethane

      4. 2.1.4 Epoxy

      5. 2.1.5 Polyester

      6. 2.1.6 Other Resin Types

    2. 2.2 Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Other Technologies

    3. 2.3 End-user Industry

      1. 2.3.1 Architectural

      2. 2.3.2 Automotive

      3. 2.3.3 Wood

      4. 2.3.4 Industrial

      5. 2.3.5 Other End-user Industries

    4. 2.4 Province

      1. 2.4.1 North

      2. 2.4.2 South

Iraq Paints and Coatings Market Size FAQs

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.

In 2024, the Iraq Paints and Coatings Market size is expected to reach USD 243.22 million.

Iraq Paints and Coatings Market Report Snapshots

Iraq Paints and Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)