Architectural Coatings Market by Global Demand and Top Players 2021-2030

The Global Architectural Coatings Market held USD 66.86 billion in 2019, and is predicted to reach USD 109.34 billion by 2030 with a CAGR of 4.5%from 2020-2030.

The global architectural coatings market observed a volumetric sale of 26,452.2 kilotons in 2019, that is projected a hike up-to 40,501.4 kilotons by 2030, with a CAGR of 3.9%.

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Top Players- AKZO Nobel, Axalta Coatings, Asian Paints, BASF SE, Nippon Paints, Kansai Paint Co., PPG Industries, RPM International Inc., Sherwin-Williams Company, and Valspar Corporation

Market Dynamics and Trends

The proliferating building & construction sector, increasing renovation and recreation activities in residential as well as non-residential buildings, higher demands for fireproofing and waterproofing materials in old or new constructions, plus the inclination of consumers towards green-buildings and eco-friendly infrastructure concepts, are responsible for tremendous growth in the global architectural coatings market. The booming construction industry, especially in Asia-Pacific region and growing commercial construction activities in the U.S. has further supplemented the architectural coatings market size.

Besides, increase in the per-capita disposable income at global level, hike in infrastructural spending as well as more and more erections of new skyscrapers, are expected to propel the growth of the global architectural coatings market throughout the forecast period.

However, factors such as stringent regulatory standards on emission of Volatile Organic Carbons from several coating materials, higher risk of health hazards imposed by some chemicals, as well as concerns regarding environmental conservation, are responsible to impede the growth of the architectural coatings market, during the forecast period.

Moreover, the recovering construction industry in South America region, development of water-based eco-friendly architectural coatings, government support towards adoption of green coatings that are formulated by strictly abiding to the environmental norms, as well as mounting application areas of nano coatings, and introduction of fluoropolymer coatings shall pave the way for new opportunities in the architectural coatings market, in future.

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Market Segmentations and Scope of the Study:

The architectural coatings market analysis is based on resin type, technology, function, application, and geography.

Based on resin type, the market is segmented into acrylic, polyurethane, alkyd, epoxy, polyester, and others. Based on technology, the market covers waterborne and solvent borne. Based on function, the architectural coatings market is classified into ceramics, paints, inks, lacquers, powder coatings, primers, and sealers. Based on application, the market is divided into residential and non-residential. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific is anticipated to hold the highest market share maintaining its lead throughout the forecast period, growing with the highest CAGR. This is attributable to growing construction sector, major development firms in India, China, and Japan, increasing reclamation activities by governments, and highest consumer of architectural coatings. This will further spur the architectural coatings market share by 2030.

Europe region would witness increasing market size in the global architectural coatings market, owing to improvement in public & private infrastructures, demand for special furniture and coatings, innovation in coating products, as well as growing consumer demand for specialized & sustainable coating solutions

North America represents a relatively mature markets and it is expected to have an average growth rate over the forecast period owing to technological advancements, well-established infrastructures and increasing demand for bio-based coating materials.

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This release was published on openPR.