Market Size of Iraq Paints and Coatings Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Market Size (2023) | USD 234.23 Million |
| Market Size (2028) | USD 282.79 Million |
| CAGR (2023 - 2028) | 3.84 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Iraq Paints & Coatings Market Analysis
The Iraq Paints And Coatings Market size is expected to grow from USD 234.23 million in 2023 to USD 282.79 million by 2028, at a CAGR of 3.84% during the forecast period (2023-2028).
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.
