Architectural Coatings Market by Resin Type (Acrylic, Polyurethane, Alkyd, Epoxy, Polyester, Others), Technology (Waterborne, Solvent Borne), Function (Ceramics, Paints, Inks, Lacquers, Powder Coatings, Primers, Sealers), End User Industry (Residential, Non-Residential) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Market Defination:

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%.

Architectural coatings are synthetic formulations applied on the architectural structures to increase its longevity, provide it an aesthetic appearance and to safeguard it against extreme weather conditions such as humidity, temperature, chemicals as well as drastically changing climatic conditions. These coatings are useful for interior & exterior walls, floor, and ceilings of residential and non-residential buildings as they are capable of absorbing and reflecting the light, as well as in changing color of the surface or substrate on which they are applied. The architectural coatings along with adding durability, lessens the risks of fire-hazards. These coating can be of various resin types such as acrylic, epoxy, polyester, polyurethane, alkyd, or any composite materials.

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.

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.

Competitive Landscape:

Comprehensive competitive analysis and profiles of the major market players such as AKZO Nobel, Axalta Coatings, Asian Paints, BASF SE, Nippon Paints, Kansai Paint Co., PPG Industries, RPM International Inc., Sherwin-Williams Company, and Valspar Corporation are provided in the architectural coatings market report. The past endeavors, present developments and futuristic advancements, sum-up to comprehend the overall growth of the architectural coatings market.

For instance, in April 2020, the very well-known player of the global architectural coatings market, PPG Industries, Inc., donated more than 290 gallons of anti-bacterial interior latex coatings to the Shanghai Tong Ren Hospital. The facility intends to use the coatings in the renovation of its medical laboratory, fever clinic, negative pressure isolation room and center of disease control. Shanghai Tong Ren Hospital is a secondary medical institution that confirmed the first case of novel COVID-19 in Shanghai, and it holds major contribution in the treatment of corona patients during the pandemic.

The Master’s Mark LUXURIANT and ECO TOUCH interior latex coatings by PPG claims at killing 99.99% of E coli and Staphylococcus, and killing 99.93% of the H1N1 virus under China’s National standards. The company’s donation of anti-bacterial coatings aims to offer direct support to medical institutions exposed to a high risk of infection, to maintain a clean and safe environment, help increase the hospital’s protection against bacteria and safeguard the health of healthcare workers and patients.

KEY BENEFITS:

• The architectural coatings market report provides a quantitative analysis of the current market and estimations through 2019-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the architectural coatings market trend including  current and future trends for depicting the prevalent investment pockets in the market

• The report provides information related to key drivers, restraints and opportunities and their impact on the architectural coatings market.

• The report incorporates competitive analysis of the market players along with their market share and market size in the global architectural coatings market.

• The study elaborates SWOT analysis and Porters Five Forces model for the architectural coatings market.

• Value chain analysis in the architectural coatings market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Resin Type

• Acrylic

• Polyurethane

• Alkyd

• Epoxy

• Polyester

• Others

By Technology

• Waterborne

• Solvent Borne

By Function

• Ceramics

• Paints

• Inks

• Lacquers

• Powder Coatings

• Primers

• Sealers

By End User Industry

• Residential

• Non-Residential

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Russia

  • Turkey

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Korea

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Argentina

  • Qatar

  • Brazil

REPORT SCOPE AND SEGMENTATION: