Iraq Paints and Coatings Market 2021 SWOT Analysis and Key Business Strategies by Leading Players – Akzo Nobel N.V., Al-Tabieaa Company, Asia Paints Company

Latest research on Iraq Paints & Coatings Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Iraq Paints & Coatings market. this report included a special section on the Impact of COVID19. Also, Iraq Paints & Coatings Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Iraq Paints & Coatings industry.

Iraq Paints & Coatings Market is growing at a CAGR of 3% during the forecast period (2021-2026).

The Iraq Paints & Coatings market is highly competitive and consists of a number of major players. Top Companies like Akzo Nobel N.V., Al-Tabieaa Company, Asia Paints Company, Caparol, Hempel A/S, MAS PAINTS & CHEMICAL INDUSTRIES, Modern Paint Industries Company

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Regional Analysis:

Furthermore, to broaden the understanding, researchers have studied the global Iraq Paints & Coatings market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

Iraq Paints & Coatings Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

Scope of the Report

- Underlying opportunities on the back of insufficient power infrastructure to meet continuously growing demand is expected to offer various lucrative opportunities for the growth of market.

- By resin type, acrylic resin segment is expected to dominate the market owing to the increase in the usage in coating applications due to its properties such as transparency and UV resistance.

- By end-user industry, architectural segment is expected to dominate the market owing to increase in the construction activities in the region.

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Key Market Trends

Acrylic Resin Type to Dominate the Market

- Acrylic resins have properties, such as transparency, high color ability, and UV resistance, in coating solutions. They are used in water-borne systems very often, which result in low VOC emission.

- The application of acrylic coatings leads to high surface hardness. In certain applications, such as walls, decks, and roofing, acrylic coatings provide elastomeric finishes to improve the UV resistance of the surface, if employed with some fluids.

- Application of acrylic coatings is primarily found in the construction industry, for high-end finishing in roofs, decks, bridges, floors, and other applications. Water-based acrylic coatings are high in demand, owing to the environmental concerns, like the negative impact of VOCs affecting the air quality in the environment.

- Apart from this, other applications of acrylic paints and coatings are found in marine vessels and structures, automotive, electrical products, machinery, and various metal product, among others.

Increasing Demand from Architectural Segment

- Architectural coatings are the largest type of coatings used in Iraq, where the demand is extensively driven by residential and commercial construction activities. These decorative paints are either oil- or water-based paints, which are used for both interior and exterior applications for esthetic purpose. However, these coatings also help in protecting the structures from blistering summers, soaking rain, freezing winters, and UV radiation.

- Iraq stands to be an attractive market for builders and investors, owing to huge underlying opportunities in, both, the residential and commercial segments. After three continuous years of contraction in construction activities, 2019 observed various public as well as private projects and investments, which helped in reviving construction activities in the country.

- The country has been facing shortage of affordable and quality houses, with major scarcity observed in Baghdad, which is severely overcrowded. Considering housing shortage in Baghdad, the government embarked on its ambitious plan to construct Besmaya City, which is the largest housing project in the Middle East.

- The city planned is likely to be spread over a total area of 1,830 hectares, which aims to offer accommodation for about 500,000 occupants in a total of 100,000 residential units. Besides housing, the project also incorporates construction of other community infrastructure, such as hospitals and schools. While the project is already under construction, it is likely to significantly contribute to the demand for decorative paints and coatings over the next few years.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Iraq Paints & Coatings Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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