The global architectural coatings market size is projected to register a significant CAGR of 5.7% during the forecast period, 2021–2028. The growth of the market is attributed to the building construction is on the rise, in emerging countries.
The architectural coatings market is the most significant part of the total coatings market. Architectural coatings include powder, paints, and other materials that are used to coat buildings and homes. Many architectural coatings, including exterior and interior wall arts, roof sealants, and carpet coatings, are developed for a particular application. Infrastructure gets numerous safeties, aesthetic, and long-lasting benefits from these coatings.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for fire resistance and waterproofing products for new and refurbishment projects, particularly in areas with severe temperatures are estimated to boost the market growth in the coming years.
- Increasing remodeling and repair activities in both commercials and residential architectures in nations such as the United States, Germany, Japan, Canada, Mexico, China, and Australia are major factors spurring the market expansion during the forecast period.
- Increasing raw material costs is anticipated to impede the market growth.
- Government rules aimed at reducing the toxic VOCs generated by some of the architectural paints and coatings act as the main challenges that can restrict the market expansion in the coming years.
- Rising demand for environmentally friendly coatings is expected to offer immense opportunities for the market players.
Scope of the Report
The report on the global 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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Global Architectural Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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By Technologies (Solvent-borne and Water-borne), Resin Types (Alkyd, Pure Acrylics, Vinyl Acetate, Acetates, Styrene Acrylics, and Others), Construction Sectors (Commercials and Residential), and Coating Types (Exterior, Interior)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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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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Tikkurila; The Sherwin-Williams Company; RPM International Inc.; PPG Industries, Inc.; Nippon Paint Holdings Co., Ltd.; Masco Corporation; Kansai Paint Co. Ltd.; Jotun; Hempel A/S; DAW SE; CARPOLY; Berger Paints India Limited; Asian Paint; ANNIE SLOAN INTERIORS LTD.; and Akzo Nobel N.V.
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Global Architectural Coatings Market Segment Insights
Water-borne segment is projected to account for a key market share
Based on technologies, the global 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 in the coming years owing 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 acrylics segment is expected to grow at a significant pace
On the basis of resin types, the market is segmented into alkyd, pure acrylics, vinyl acetate, acetates, styrene acrylics, and others. The pure acrylics segment is expected to hold a key share of the market during the forecast period 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 major market share
Based on construction sectors, the market is divided into commercials and residential. The residential segment is expected to hold a key share of the market during the forecast period 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. As a result, these paints are utilized in bathrooms.
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 homebuilding. Stains, paints, primers, lacquers, and cleaners are among the most common architectural and utilitarian coatings.
Exterior segment is expected to register at a robust pace
On the basis of coating types, the global architectural coatings market is segmented into the exterior, interior. The exterior segment is expected to constitute a key share of the market in the coming years owing not only to enhance its aesthetic value, but also to safeguard it from frigid winters, scorching summers, drenching rain, and daily UV radiation without splitting, flaking, or fading.
Paint, on the other hand, is damaged by moisture. Exterior paint can be damaged by mist, rain, frost, and ice on the outside, as well as vapor and moisture formation on the inside. Blisters can develop when moisture pierces the paint, and the paint can sometimes peel. As heat blisters, moisture blisters penetrate all layers of paint directly to the wood.
Asia Pacific is expected to dominate the market
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market at an impressive CAGR during the forecast period. The regional market growth can be attributed to increased usage, emerging technologies, and infrastructure expansions.
Segments
Segments Covered in the Report
The global architectural coatings market has been segmented based on
Technologies
- Solvent-borne
- Water-borne
Resin Types
- Alkyd
- Pure Acrylics
- Vinyl Acetate
- Acetates
- Styrene Acrylics
- Others
Construction Sectors
Coating Types
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Tikkurila
- The Sherwin-Williams Company
- RPM International Inc.
- PPG Industries, Inc.
- Nippon Paint Holdings Co., Ltd.
- Masco Corporation
- Kansai Paint Co.,Ltd.
- Jotun
- Hempel A/S
- DAW SE
- CARPOLY
- Berger Paints India Limited
- Asian Paints
- ANNIE SLOAN INTERIORS LTD.
- Akzo Nobel N.V.
Competitive Landscape
Key players competing in the global architectural coatings market include Tikkurila; The Sherwin-Williams Company; RPM International Inc.; PPG Industries, Inc.; Nippon Paint Holdings Co., Ltd.; Masco Corporation; Kansai Paint Co. Ltd.; Jotun; Hempel A/S; DAW SE; CARPOLY; Berger Paints India Limited; Asian Paint; ANNIE SLOAN INTERIORS LTD.; and Akzo Nobel N.V.
Some of these players are adopting several business strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares.
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