Dublin, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The "Architectural Coatings Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The market for architectural coatings is expected to grow at a CAGR of 5.5% during the forecast period of 2022 to 2030. Architectural coatings producers are increasingly concentrating their efforts on developing ecologically friendly materials that generate fewer emissions and lessen the carbon footprint they leave behind.
In addition, there has been an increased interest in refurbishment, most notably within the residential sector, which has been increasing demand for architectural coatings. The global market for architectural coatings is seeing rapid expansion as a result of a rise in the number of applications for these coatings, developments in related technologies, and an increase in demand in the Asia Pacific.
MARKET DYNAMICS
Massive Growth in the Construction Industry
The construction sector is responding to the increasing number of people moving to metropolitan areas by building more infrastructure and housing that is accessible to lower-income families. This is one of the primary factors driving demand for the numerous pieces of construction equipment and architectural coatings materials that are utilized in the building of both residential and commercial complexes.
The need for exterior architectural coatings that can shield a structure from the damaging effects of microorganisms, ultraviolet light, and moisture is growing. In addition, because there is a growing demand for architectural coatings that come in a wider range of colours, are more consistent, and last longer, manufacturers are responding to this demand by developing a wide selection of eco-friendly coatings of a higher quality. In addition, there has been a growing trend toward renovating already-built structures, which is another factor that is driving demand for architectural coatings on the inside and outside of buildings.
Huge Demand for Low and Zero VOC Architectural Coatings Products Due to Global Emission Regulations
In the past several years, governments in a variety of nations have enacted rigorous rules on emissions from products containing volatile organic compounds (VOC), such as paints and architectural coatings. These regulations are intended to reduce the amount of air pollution caused by VOCs. As a result, growing consumer awareness of the harmful effects of volatile organic compounds (VOCs) is driving demand for coatings and paints with low or zero VOC levels. A growing number of businesses are currently engaged in the process of obtaining LEED (Leadership in Energy and Environmental Design) certification for the projects they are working on. As a result, the LEED certification process allows for a wide range of acceptable VOC levels, which drives up demand for paints and coatings with low or no VOC content.
Environment Concerns Driving the Market for UV Curable Resins
Over the course of the past few years, there has been an increase in the utilisation of radiation-curing technologies for the interior and exterior coatings of structures. Because of this, there has been an increase in demand for UV-curable polymers to be used in architectural coatings. In addition, there is a growing demand for UV-curable fluorine-containing resins as a result of rising worries about the environment and ongoing legislative efforts to reduce emissions of volatile organic compounds.
In addition, factories all over the world that produce architectural coatings are modernising their production processes in order to create a water-based UV-curable coating. Manufacturers are providing great performance and strong chemical resistance by combining the eco-friendly qualities of water-based formulae with the fast-drying time of UV systems. This enables the formulas to cure more quickly. As a result, it is anticipated that UV curable resins would secure more than 40% of the market share for architectural coatings.
Market Segmentation
Resin
- Acrylic
- Alkyd
- Epoxy
- Polyurethane
- Polyester
- Urethane
- Others (PTFE & PVDF)
Function
- Ceramics
- Inks
- Lacquers
- Paints
- Powder Coatings
- Primers
- Sealers
- Stains
- Varnishes
Formulation
- Solvent Borne Architectural Coatings
- Water Borne Architectural Coatings
Application
- Architectural Coatings for Residential Applications
- New construction
- Remodel and Repair
- Architectural Coatings Non-Residential Applications
Key Topics Covered:
1. Preface
2. Executive Summary
3. Architectural Coatings Market: Business Outlook & Market Dynamics
4. Architectural Coatings Market: By Resin, 2020-2030, USD (Million)
5. Architectural Coatings Market: By Function, 2020-2030, USD (Million)
6. Architectural Coatings Market: By Formulation, 2020-2030, USD (Million)
7. Architectural Coatings Market: By Application, 2020-2030, USD (Million)
8. North America Architectural Coatings Market, 2020-2030, USD (Million)
9. UK and European Union Architectural Coatings Market, 2020-2030, USD (Million)
10. Asia Pacific Architectural Coatings Market, 2020-2030, USD (Million)
11. Latin America Architectural Coatings Market, 2020-2030, USD (Million)
12. Middle East and Africa Architectural Coatings Market, 2020-2030, USD (Million)
13. Company Profile
Companies Mentioned
- The Sherwin-Williams Company
- PPG Industries Inc.
- 3 Trees
- Nippon Paint Holdings Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/r0dtaq
