MIDDLE EAST PAINT MARKET SUFFERS AS GULF ECONOMIC WEAKNESS AND LEVANT CONFLICT RESTRICTS SALES
November 1st, 2019
Time was that the Gulf was a hotspot for paint and coatings sales and production, with frothy demand fuelled by major building projects – most met by locally manufactured product. But today, demand for paint in the Gulf countries is sluggish due to low oil prices, depressing overall economies and a drop in the number of infrastructure and real estate projects under construction. On the Levant, in Lebanon, which is undergoing some significant political instability, paint sales have halved this year, compared to 2018, while demand for paint in ...
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