Architectural coatings market expected CAGR is 4.8% during (2020-2030)

Architectural coatings are designed to provide a protective and a decorative layer on the surface of an architectural structure in both interior and exterior applications. Internal coatings have application for interior decoration & beautification purposes, while exterior coatings are applied to structure to help withstand against different environmental conditions.

Architectural coatings market is poised to grow at a CAGR of 4.8% during the forecast period of (2020-2030)

The architectural coatings market is expected to witness a CAGR of around 4.8% from 2020-2030 as per new report published by Decision Foresight.

According to the report, the global architectural coatings market is witnessing high growth on account of increasing applications, technological advancements, and the growing demand in APAC. The economic growth in developing countries, increasing investment in infrastructure, stringent environmental regulations, growing purchase power, and the rising demand for green and environmentally friendly coatings are also favoring the market growth.

Growing redevelopment activities in both residential as well as commercial architectures in countries such as US, Canada, Mexico, Germany, Japan, China, and Australia is estimated to fuel expansion of architectural coatings over the study time frame. Also, rise in demand for fireproofing, and water proofing materials for new as well as refit constructions in region of extreme temperatures is also anticipated to have positive impact in the market growth. Also, the mandate for LEED certified construction materials owing to the rising green buildings constructions specifically in US, Canada, and India will further support the growth of the architectural coatings market.

Emergence of the do-it-yourself (DIY) channel, has allowed the paint manufacturers to market their product direct to the consumers. The relatively new consumer market segments demands the enhancement of the panting experience and has created an innovation pull. Considering this, consumers now have greater options on sekecting paint quality, performance, ease of use and clean up. \ additionally, color acts purchase drivers in the architectural coatings industry. Such developments are expected to open new avenues for global architectural coatings market.

Various leading manufacturers of architectural coatings are aiming to expand inorganically by adopting acquisitions, collaborations, and partnerships as their key growth strategies. In this regard, In January 2018, RPM international Inc. has acquired Key Resin Company (KRC), a longer producer of polymer floorings and coatings. In June 2017, The Sherwin-Williams Company has acquired the Valspar, thus expanding their presence into paints& coatings industry, Also, in April 2017, Berger International, subsidiary of Asian Paints acquired Causeway Paints Lanka Pvt.Ltd (Sri Lanka). Such market developments will help the companies to strengthen its presence in the global architectural coatings market.

In 2019, Acrylic segments accounted for the largest share of the global architectural coatings.  The withering and oxidation resistance of acrylics is better as compared to oil-based paints, alkyds, or epoxies as the chief components of the acrylic polymers provide a polymer structure posses a good tendency to absorb UV light.  Moreover, acrylics posses gloss retention and good color. Also, they are well known for their durability as they protect the underlying substrate from the degeneration caused by exposure to withstand drastic environment condition such as rain, snow, wind, and UV Light.

The key players operating in the global architectural coatings market include PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Axalta Coatings, RPM International, and The Valspar Combination, Midwest industrial Coatings Inc., Summer Coatings, and BASF SE. Other key players operating in the architectural coatings market include AzkoNobel, Prism Coatings Canada Inc, Helios Group, A&A coatings, Kansai Paint Co., RockSolid Industrial, LINE-X UK, Single Source Inc., Michel Man, Inc., and IS coatings.         

Browse key industry insights, market data tables & figures from the report, “Architectural Coating Market Size by Resin Type(Epoxy, Acrylic, Aklyd, Polyurethane, Polyester, Urethane , and others), By Technology(Solvent Borne and Water Borne), Function (Ceramic Inks, Lacquers, Paints, Powder Coatings, Primers, and Sealers), By Region(US, Canada, Mexico, Germany, UK, France, Japan, China, India, and Rest of the World), Growth potential, Price Trends, Competitive Market Share & Forecast, 2020-2030”

Market Segmentation

The research report categorizes the global architectural coatings market by resin type, technology, end use industry and region.

By Resin Type           

• Acrylic
• Alkyd
• Epoxy
• Polyurethane
• Polyester
• Urethane
• Others (PTFE & PVDF)

By Technology

• Solvent Borne
• Water Borne

By End Use Industry

• Residential
• Non-Residential

By Function

• Ceramics
• Inks
• Lacquers
• Paints
• Powder Coatings
• Primers
• Sealers
• Stain
• Vanishes

By Region

• North America

• US
• Canada
• Mexico

• Europe

• Germany
• UK
• Turkey
• France
• Russia
• Rest of Europe

• Asia-Pacific    

• China
• Japan
• Korea
• India
• Rest of Asia Pacific

• Rest of the World (RoW)

• Brazil
• Argentina
• UAE
• Qatar
• Rest of the World