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Morocco Paints And Coatings Market Size (2024 - 2029)

The Morocco Paints and Coatings Market is projected to experience growth over the forecast period, driven by the expanding construction industry and the wood furniture market. Despite challenges such as limited raw material availability, the market is poised for expansion, with eco-friendly paint and coating resins presenting significant opportunities. Acrylic resin is anticipated to lead the market, contributing to its overall market size growth.

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Market Size of Morocco Paints And Coatings Industry

Morocco Paints And Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 403.33 Million
Market Size (2029) USD 525.58 Million
CAGR (2024 - 2029) 5.44 %
Market Concentration High

Major Players

Morocco Paints and Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Morocco Paints and Coatings Market Analysis

The Morocco Paints And Coatings Market size is estimated at USD 403.33 million in 2024, and is expected to reach USD 525.58 million by 2029, at a CAGR of 5.44% during the forecast period (2024-2029).

The Morocco paints and coatings market faced setbacks due to COVID-19. Global lockdowns and stringent government regulations led to widespread shutdowns of production hubs. However, the market rebounded in 2021 and is projected to see significant growth in the upcoming years.

  • Over the short term, the growing demand from the construction industry and growth in the wood furniture sector are the major factors driving the demand for the market studied.
  • However, stringent regulatory policies and soaring raw material prices are expected to hinder the market's growth.
  • Nevertheless, the use of nanotechnology in the paints and coatings industry is expected to create new opportunities for the market studied.
  • The architectural segment is expected to account for the largest end-user industry in the market studied and register rapid growth over the forecast period.

Morocco Paints and Coatings Industry Segmentation

Paints and coatings, multiphase colloidal systems, are applied to surfaces primarily for aesthetic enhancement and protection. Comprising pigments, binders, liquids, and additives, these mixtures can be effortlessly applied using a spray or brush. Each component is vital in determining the paint's properties and performance, both during and after application. The architectural industry prominently utilizes paints and coatings, especially for decorative and protective purposes.

The Morocco paints and coatings market is segmented by 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 forecasts have been done on the basis of value (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
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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.

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Morocco Paints And Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from the Construction Industry

      2. 1.1.2 Growth in the Wood Furniture Sector

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Regulatory Policies

      2. 1.2.2 Soaring Raw Material Prices

      3. 1.2.3 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      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 (Market Size in Value)

    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 Powder Coating

      4. 2.2.4 UV-Cured Coating

    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 Transportation

      6. 2.3.6 Packaging

Morocco Paints And Coatings Market Size FAQs

The Morocco Paints And Coatings Market size is expected to reach USD 403.33 million in 2024 and grow at a CAGR of 5.44% to reach USD 525.58 million by 2029.

In 2024, the Morocco Paints And Coatings Market size is expected to reach USD 403.33 million.

Morocco Paints and Coatings Market Report Snapshots

Morocco Paints And Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)