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.
Morocco Paints & Coatings Industry Segmentation
Paints or coatings are the multiphase colloidal systems applied on the desired surface, primarily for aesthetics and protection. They are a mixture of pigments, binders, liquids, and additives, which can easily be applied on surfaces using a spray or brush. Each ingredient plays a crucial role in defining the properties and performance of paints during or after application. Paints and coatings find major applications in the architectural industry as decorative and protective coatings. The market is segmented b resin, technology, and end-user industry. 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, powder-coating, and UV-cured coating. By end-user industry, the market is segmented into architectural, automotive, wood, industrial coatings, transportation, and packaging. For each segment, the market sizing and forecast have been done based on revenue (in USD).
| Resin Type | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types |
| Technology | |
| Water-borne | |
| Solvent-Borne | |
| Powder Coating | |
| UV-Cured Coating |
| End-user Industry | |
| Architectural | |
| Automotive | |
| Wood | |
| Industrial | |
| Transportation | |
| Packaging | |
| Solvent-Borne |
Morocco Paints And Coatings Market Size Summary
The Morocco paints and coatings market is experiencing a period of growth, driven by the expanding construction industry and the burgeoning wood furniture market. The market is recovering from the disruptions caused by the COVID-19 pandemic, with conditions improving since 2021. However, the availability of raw materials poses a challenge to sustained growth. The introduction of eco-friendly paint and coating resins presents significant opportunities for market expansion. Acrylic resins, known for their transparency, colorability, and UV resistance, are expected to dominate the market. These resins are widely used in waterborne systems, contributing to low VOC emissions and high surface hardness, making them ideal for various applications, including construction, automotive, and marine industries.
The demand for paints and coatings in Morocco is further bolstered by the country's architectural and decorative coating needs, driven by residential and commercial construction activities. The tourism sector's growth is anticipated to increase the demand for hotel construction, thereby fueling the market for architectural coatings. Additionally, significant investments in infrastructure projects, such as the 2030 port strategy, are expected to create further demand for paints and coatings. Despite economic challenges, including the impact of drought and geopolitical tensions, the market remains consolidated, with major players like Colorado, Akzo Nobel N.V., and Kansai Paint Co., Ltd. actively investing in innovation and sustainability to maintain their competitive edge.
Morocco Paints And Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Accelerating Growth of the Construction Industry
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1.1.2 Growth in the Wood Furniture Market
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Less availability of raw material
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1.2.2 Rising VOC concerns
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Acrylic
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2.1.2 Alkyd
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2.1.3 Polyurethane
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2.1.4 Epoxy
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2.1.5 Polyester
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2.1.6 Other Resin Types
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2.2 Technology
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2.2.1 Water-borne
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2.2.2 Solvent-Borne
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2.2.3 Powder Coating
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2.2.4 UV-Cured Coating
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2.3 End-user Industry
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2.3.1 Architectural
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2.3.2 Automotive
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2.3.3 Wood
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2.3.4 Industrial
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2.3.5 Transportation
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2.3.6 Packaging
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2.3.7 Solvent-Borne
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Morocco Paints And Coatings Market Size FAQs
What is the current Morocco Paints and Coatings Market size?
The Morocco Paints and Coatings Market is projected to register a CAGR of 3.06% during the forecast period (2024-2029)
Who are the key players in Morocco Paints and Coatings Market?
ATLAS Peintures, Colorado, Cromology, Akzo Nobel N.V. and Kansai Paint Co., Ltd. are the major companies operating in the Morocco Paints and Coatings Market.
