Gulf coatings market still witnessing stagnant growth but planned major events may increase sales

摘要

The Gulf paint and coatings market has had another year of stagnant growth, with sales impacted by stalled infrastructure projects, government policies and regional turbulence. Sales in 2017 were further impacted by the economic siege of Qatar, now into its seventh month, by its Gulf Cooperation Council (GCC) neighbours Saudi Arabia, the United Arab Emirates (UAE), and Bahrain. These developments have taken place against the continued economic malaise caused by the drop in oil prices in 2015, from which Gulf states have struggled to rebound and which has tightened government and company budgets, delaying many state-backed infrastructure and real estate projects.