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Architectural Coatings Market Poised To Hit CAGR of 5.9% By 2026

The global architectural coating market was valued at nearly US$ 58 Bn in 2017 and is expected to register a CAGR of 5.9%.

Architectural coatings are the paints and coatings used to coat buildings and homes. Most are designated for specific uses such as roof coatings, wall paints, or deck finishes. The right binder or additive in architectural coatings can put paint in a whole new category. Different architectural coating provides various decorative, durable, and protective functions. Restricting air exchange and heat transfer can increase energy efficiency, these can lead to increased volatiles trapped indoors. Intensity of this volatiles can be reduced with the help of functional paints.

Global Architectural Coating Market Dynamics:
Major factor driving growth of the global architectural coating market is increasing construction and reconstruction activities in residential and commercial sector and rising environmental concern along with growing preference for green coating and water based coating. In addition, increasing foreign direct investment and major players shifting their manufacture base to developing countries due to low taxes and lower production cost are other factors expected to boost growth of the global architectural coating market. Moreover, increasing government expenditure on upgradation of present infrastructure, rising public and private partnerships for various housing projects in countries such as India and China resulting in increasing number of construction activities for residential and non-residential purpose, thus boosting growth of the global architectural coating market.

Stringent government regulations related to VOC emissions by some architectural coating is a major factor restraining growth of the global architectural coating market to certain extent. In addition, presence of alternative such as green coating is expected to hamper growth of the global architectural coating market. However, adoption of this technological advancements and increasing R&D activities by major manufacturers for green coating and water based coating is expected to present new opportunities in terms of revenue to players operating in the global architectural coating market over the forecast period.

Market analysis by resin type:

On the basis of resin type segmentation, the acrylic segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The acrylic segment is expected to witness highest CAGR of 6.2%, owing to wide spread applicability of acrylic resin in water reducible and emulsion resin which are used for manufacturing of coats and varnishes. In addition, these resins include methyl acrylic polymer and are capable of bonding multiple items together efficiently, improving productivity and performance while reducing environmental concerns and cost.

Market analysis by technology type:

On the basis of technology type segmentation, the water based segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The water based segment is expected to witness highest CAGR of 6%, owing to growing preference for water based coating among population and increasing demand for water based coating from various sectors including construction, furniture, automobile, and other industries.

Market analysis by application:

On the basis of application segmentation, residential segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period. The residential segment is expected to witness highest CAGR of 5.9%, owing to increasing disposable income among general population in developing countries such as India and China.

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Market analysis by region:

In 2017, North America market accounted for the second largest revenue share contribution to the global architectural coating market, owing increasing government regulations in developed counties related to VOC emission from paints and growing environmental concern preferences for environment friendly coating material such as green coating or coating with water based that does not emit VOC and has no harmful effect on human or environment. This in turn is expected to support growth of the architectural coating market over the forecast period. According to U.S. Census Bureau and the U.S. Department of Housing and Urban Development report they authorized 1,396,000 building permits in US region.

In 2017, Europe accounted for a significant revenue share contribution to the global architectural coating market, owing to rising disposable income and increasing use of architectural coating for various purpose such as decoration and general maintenance of residential, commercial, institutional and industrial buildings, which is expected to support growth of the Europe market. Moreover, low interest rates as well as high levels of net migration and broad construction sector, coupled with increasing investments are major factors driving the construction activities which in turn is expected to support growth of the architectural coating market in this region. For instance, according to European Commission total investment in construction sector in Germany increased by 9.5% over 2008-2015

Key Players operating in the global architectural coating market include PPG Architectural Coatings, The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., BASF SE, Akzo Nobel N.V., Michelman, Inc., and IFS Industries, Inc.


Updated : 2021-12-05 11:28 GMT+08:00