The global architectural coatings market is segmented by resin type into acrylic, alkyd, epoxy, polyurethane, polyester, urethane & others; by technology type into solvent borne and water borne; by application into residential and commercial and by regions. According to the data by U.S. Census Bureau, there were 13,28,000 U.S. residential permits in 2018, where the number of housing started were 12,56,000 and the housings completed were 10,99,000. This rise in construction projects in U.S. have increased the demand for these coatings which is further expected to drive the global market of architectural coatings in upcoming years.
The architectural coatings market is anticipated to record a CAGR of 6.2% over the forecast period i.e. 2018-2027. The market is segmented by application type, where the residential segment is expected to grow at a high rate owing to various ongoing and forthcoming construction and reconstruction activities. Based on technology, the water-borne segment is estimated to boost the demand for these coatings owing to its ecofriendly nature.
Asia Pacific is anticipated to hold the dominant share in the architectural coatings market during the forecast period which can be attributed to growing constructional and infrastructural development in countries such as China, India, Japan and others. Europe is expected to have the largest growing market of owing to various ongoing construction and reconstruction activities across the region. Further, the substantial growth rate of construction projects in the North America region is anticipated to favor the growth of the market over the forecast period.
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Steady Applications in Residential Sector
Architectural coatings are used in various residential applications for both interior and exterior coating purposes. The demand for these coatings is estimated to increase owing to increasing residential reconstruction and new developments of various projects by real estates over the forecast period. Additionally, the rising urbanization of the population is driving the market significantly at present and is expected to impact the market strongly during the forecast period.
However, the VOC emissions caused from these coatings that are harmful to both human health and environment are estimated to limit the growth of the market over the forecast period.
The report titled “Global Architectural Coatings Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global architectural coatings market in terms of market segmentation by resin type, by application type, by technology type and by regions.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global architectural coatings market which includes company profiling of BASF SE, PPG Industries, AzkoNobel, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Prisum Coatings Canada Inc., Helios Group, A&A Coatings and Kansai Paint Co. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global architectural coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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