Architectural Coatings market accounted for approximate USD 68.1 billion in 2020 and it is expected to reach USD 108.9 billion in 2030 with a CAGR of 4.8% during the forecast period.Architectural coatings are paint and coat which used across building and construction activities. The product is used in roof coatings, deck finishes and wall paints. Additionally, these coatings reveal excellent properties of protective, decorative, resistance to corrosion and durable functionalities. Moreover, it is used for preventing rusting metallic components of metal furniture, wall paintings, effects from solar radiations and wooden flooring.

Market Segmentation:

On the basis of resin type, the architectural coatings market is segmented into acrylic, alkyd, polyester and others. The acrylic segment accounted for the largest shareholder in the market. Due to its weathering and oxidation resistance is better than oil-based paints and alkyds. Moreover, acrylics possess good color, gloss retention, little tendency to absorb UV lights and they are well known for their durability. On the basis of technology, it is bifurcated into waterborne, solvent-borne and powder. The use of a considerable concentration of Volatile Organic Compound pushes many nations to adopt waterborne innovation coatings. Waterborne coatings hold the largest share of the market; it holds approximate 60% share of market. Based on user type, it is bifurcated into two types that are professional and DIY (Do It yourself). On the basis of coatings type, it is classified into two types that are interior and exterior. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The economic growth in developing countries, increase investment in infrastructure, demands for green and environment friendly coatings leadings the growth of market.   Moreover, growth of market is related to growth of construction industries. Additionally, repair of sculptures and artifacts work at heritage locations is amplifying the growth of market.  However, stringent government regulation and time consuming regulatory policies are restraining the growth of market. Increase in awareness regarding coatings with less volatile organic compounds, implementation of safety regulations and increase in residential maintenance activities will amplify the market growth during forecast period. 

Geographic Analysis:

Asia Pacific market is dominating and hold largest share for architectural coatings market. Due to large number of developments and reclamation activities by government organizations and significant development firm in India, China and Japan, market is assessed to witness fastest growth in region during forecast period. Additionally, growing population, prominent rise in construction and economic growth in region are driving the market. Asia Pacific is followed by the Europe and North America market. Increase in the growing trend of using bio-based coatings will amplify market growth in Europe.  UK, France, Spain and Italy are anticipated to be the growth drivers for European market. According to research study, Asia Pacific holds approximate 46% of global market share.

Competitive Scenario:

Some of the key players in global architectural coatings market are PPG Industries, Inc., Asian Paints ltd, Nippon paint holdings Co. ltd, Kansai Paints Co. ltd, Akzo Nobel N.V., RPM International Inc., Masco Corporation, Jotun group, The Sherwin-Williams Company (US).

Architectural Coatings Market Report Scope