The Asia Pacific architectural coatings market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6% during 2023–2031. The growth of the market is attributed to the housing development is becoming more prevalent in Asia's emerging markets.
Architectural coatings include paints, powders, and other materials that are used to paint buildings and homes. Most architectural coatings, including inside and external wall painting, ceiling coatings, and carpet coatings, are developed for a particular application. Infrastructure receives numerous safety, aesthetic, and long-lasting benefits from these coatings.
Market Trends, Drivers, Restraints, and Opportunities
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Rising infrastructure investment and rising demand for high-quality and long-lasting coating materials for construction components are anticipated to fuel the market expansion in the coming years.
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Growing need for long-lasting and environmentally friendly coatings is a major factor propelling the market growth during the forecast period.
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rising demand for waterproofing and fireproofing components for new and refurbishment projects, particularly in areas with harsh temperatures is estimated to spur the market expansion in the coming years.
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High price of intricate raw ingredients and the problem in identifying appropriate architectural coatings are projected to impede the market growth.
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Increasing environmental issues and restrictions in China, as well as increasing raw material costs, act as a key challenge that can restrict the market expansion in the coming years.
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The acceptance of green coatings that meet with regulations' security and VOC emission standards is projected to open up several new potential prospects for the market which is expected to create lucrative opportunities for the market players.
Scope of Asia Pacific Architectural Coatings Market Report
The report on the Asia Pacific architectural coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Architectural Coatings Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Technologies (Solvent-borne and Water-borne), Resin Types (Pure Acrylic, Vinyl Acetate, Acetate, Alkyd, Styrene Acrylic, and Others), and Construction Sectors (Residential and Commercials)
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Geographies
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China, Japan, India, Indonesia, Australia, New Zealand, Vietnam, Malaysia, and the Rest of Asia-Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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RPM International Inc.; PPG Industries, Inc.; Nippon Paint Holdings Co., Ltd.; Masco Corporation; KCC Paints; Kansai Paint Co.,Ltd.; Jotun; CARPOLY; Berger Paints India Limited; Beckers Group; Asian Paints; Akzo Nobel N.V.; and The Sherwin-Williams Company
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Asia Pacific Architectural Coatings Market Segment Insights
Water-borne segment is projected to constitute a key market share
Based on technologies, the Asia Pacific architectural coatings market is bifurcated into solvent-borne and water-borne. The water-borne segment is expected to represent a key share of the market during the forecast period due to fundamental advantages over all other coating materials.
For infrastructure applications, waterborne paints and varnishes provide a reliable and low smell solution, as water is utilized as the solvent media for dispersion of the resins, these coats are also simple to apply.
Pure acrylic segment is expected to expand at a robust pace
On the basis of resin types, the market is segmented into pure acrylic, vinyl acetate, acetate, alkyd, styrene acrylic, and others.
The pure acrylic segment is expected to hold a key share of the market in the coming years owing to it is used in a lot of architectural paints, acrylics outperform alkyds, oil-based paints, and epoxies in terms of weathering and resistance to corrosion because the main components of acrylic polymers include a polymer structure with hardly any propensity to absorb ultraviolet light.
Acrylics also have nice color and sheen persistence. They're well-known for their sturdiness, as they shield the underlying substrate from the effects of snow, rain, wind, and UV rays.
Residential segment is projected to represent a large market share
Based on construction sectors, the market is divided into residential and commercials. The residential segment is expected to hold a key share of the market in the coming years owing to paints and coatings are also employed in the interiors of homes to add color or for ornamental purposes, among many other things. Their roles differ depending on the sort of location and room in which they are employed.
Due to the extreme wetness, the walls of the bathroom, for example, must be easily cleanable to stay clean. Paints with a higher glossy sheen have a stronger molecular structure than flat paints, enabling moisture penetration more challenging.
In recent years, improved economic growth and better earnings have led to the construction of several new homes and the renovation of existing ones. Fresh paint and repainting are two types of architectural coatings used in housing constructions. Stains, paints, primers, lacquers, and cleaners are among the most common architectural and utilitarian coatings.
China is expected to dominate the market
On the basis of geographies, the market is categorized as China, Japan, India, Indonesia, Australia, New Zealand, Vietnam, Malaysia, and the Rest of Asia-Pacific. China is anticipated to expand at a healthy CAGR during the forecast period.
The geographic market growth can be attributed to China's production industry is one of the country's most important economic contributors. The continual improvement in the nation's financial environment has improved customers' economic positions, which has boosted demand for constructions as well as other infrastructural operations in the nation.
Additionally, overseas investment prohibitions on land acquisition, high-end hotels, office spaces, international convention centers, and the construction and management of large amusement parks have been eased. Over the projected period, the nation's architectural coatings demand is anticipated to benefit from expansion in the residential and commercial sectors.
Segments
The Asia Pacific architectural coatings market has been segmented based on
Technologies
- Solvent-borne
- Water-borne
Resin Types
- Pure Acrylic
- Vinyl Acetate
- Acetate
- Alkyd
- Styrene Acrylic
- Others
Construction Sectors
Geographies
- China
- Japan
- India
- Indonesia
- Australia
- New Zealand
- Vietnam
- Malaysia
- the Rest of Asia-Pacific
Key Players
- RPM International Inc.
- PPG Industries, Inc.
- Nippon Paint Holdings Co., Ltd.
- Masco Corporation
- KCC Paints
- Kansai Paint Co.,Ltd.
- Jotun
- CARPOLY
- Berger Paints India Limited
- Beckers Group
- Asian Paints
- Akzo Nobel N.V.
- The Sherwin-Williams Company
Competitive Landscape
Key players competing in the Asia Pacific architectural coatings market include RPM International Inc.; PPG Industries, Inc.; Nippon Paint Holdings Co., Ltd.; Masco Corporation; KCC Paints; Kansai Paint Co.,Ltd.; Jotun; CARPOLY; Berger Paints India Limited; Beckers Group; Asian Paints; Akzo Nobel N.V.; and The Sherwin-Williams Company.
Some of these players are adopting several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.
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