New York, United States , July 11, 2023 (GLOBE NEWSWIRE) -- The Global Architectural Coatings Market Size to grow from USD 65.5 Billion in 2022 to USD 108.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.
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Architectural coatings are coating mixtures used on buildings and on residences. They go by the name of ornamental coatings as well. Architectural coatings include primers, inks, sealants, ceramics, and other paints. They also cover a wide variety of coatings. Architectural coatings are used on interior and external walls, floors, and ceilings of buildings, so they must be resistant to a variety of chemicals. These include heat, dampness, weather changes, chemicals, and other things.
The global market for architectural coatings is being driven by the development boom, notably in the developing countries of Asia-Pacific. The market is also influenced by shifting customer preferences and growing public knowledge of the risks posed by VOC emissions from architectural coatings. The market for architectural coatings is expected to have a number of expansion prospects due to the rapid growth of the building sector, urbanisation, and industrialization. The demand for the product is predicted to increase due to the growing awareness of coating materials and the advantages associated with their use. Over the projected period, the usage of green coatings is expected to gain popularity, which might be advantageous for the global architectural coating market.
Browse key industry insights spread across 200 pages with 100 Market data tables and figures & charts from the report on "Global Architectural Coatings Market Size, Share, and COVID-19 Impact Analysis, By Resin Type (Acrylics, Alkyds, Epoxy, Urethanes, Vinyl, Others), By Technology (Water borne, Solvent borne, Powder), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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Resin Type Insights
Acrylics segment holds the largest market share over the forecast period
On the basis of resin type, the global architectural coatings market is segmented into acrylics, alkyds, epoxy, urethanes, vinyl, and others. Among these, acrylics segment holds the largest market share over the forecast period. The robust polymeric structure and its capacity to irradiate UV rays are credited with promoting development. In addition, the acrylics can keep their sheen and colour brightness. Additionally, it enhances the substrate's longevity and provides defence against outside influences.
Epoxy segment, on the other hand is estimated to witness the fastest market growth over the forecast period. The increase in epoxy use in paints and coatings is blamed for the growth. Additionally, the need for epoxy architectural coatings has increased in the residential construction and refurbishment industries. Additionally, throughout the projection period, the demand for epoxy coatings will be driven by the growth in the industrial application.
Technology Insights
Solvent based coatings segment is dominating the market over the forecast period
On the basis of technology, the global architectural coatings market is segmented into water borne, powder, and solvent borne. Among these, solvent based coatings segment is dominating the market with the largest market share over the forecast period. Solvent-based coatings have many different types of applications in both the residential and non-residential sectors and are particularly resistant to harsh environments. On the other hand, solvent-based coatings have a longer shelf life, and the VOCs employed in coating production will restrain market expansion.
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Regional Insights
Asia Pacific is dominating the market with the largest market share over the forecast period
Asia Pacific is dominating the global Architectural Coatings market over the forecast period. Consumption and sales are expected to increase throughout the anticipated period as a result of government actions like revoking filing and mandating testing of imported paint and coatings starting in March 2022. This gives the coating businesses more faith in the domestic architectural coating industry. Acrylic coatings made up around more than half of the architectural coatings in use at the time. Chinese government regulations, which are a major factor in the adoption of low VOC architectural coatings, mandate that makers of coatings for buildings reduce the VOC content of their products and market them as safe goods.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Architectural Coatings Market include NIPSEA Group, BASF SE, Asian Paints Limited, Axalta Coating Systems, LLC, Brillux GmbH & Co. KG, Colorado Commercial & Residential Painting, IFS Coatings, Kansai Paint Co., Ltd., KEIM Mineral Coatings of America, Inc., Kelly-Moore Paints, Masco Corporation, RPM International Inc., Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company and Among Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Architectural Coatings Market based on the below-mentioned segments:
Architectural Coatings Market, Resin Type Analysis
- Acrylics
- Alkyds
- Epoxy
- Urethanes
- Vinyl
- Others
Architectural Coatings Market, Technology Analysis
- Water borne
- Solvent borne
- Powder
Architectural Coatings Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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