Global Architectural Coatings Market size is majorly driven by the developments in the construction industry and rising demand for exotic coatings.
Increasing number of commercial buildings coming up throughout the globe will propel the market for architectural coatings. With the global shift towards Asia Pacific for commercial spaces, the architectural market size is forecasted to grow significantly from 2016 to 2024.
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Reconstruction spending coupled with dual income families is also driving the architectural coating market in the U.S. These products are also used in interior decoration such as wood flooring, wall painting, furniture and sculptures. With the enhancing financial and social status of the population of the developed as well as the emerging nations, the demand for architectural coatings is only likely to increase between 2016 and 2024.
Architectural coatings market can be segmented based on resin type, technology, and application. Major resin types include acrylic, epoxy and polyester. Acrylics have a fast drying property and find extensive use in the paints industry. Epoxy has a major application in the paints and coatings industry to provide the adhesive nature as well luster in the paints. Asia Pacific accounted for over a third of the volume and revenue share of the worldwide demand for paints and varnishes in 2015. Construction industry accounts for almost half of the global consumption of paints and varnishes.
Key technology segments include water based and solvent based and powder coatings. Water and solvent based paints & varnishes accounts for the major chunk of the global share. However, powder coating is also finding application in household appliances, metal products, facade elements and computer casing and is estimated to gain share until 2024.
Architectural coating products sale in the European market was very healthy in 2015. Increase in construction and renovation spending in residential as well as commercial sectors throughout Europe is forecast to fuel growth.
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Many companies in the architectural coatings market share have a communicating tool on their website to provide the end user an idea of shades of color available and the different combinations which aids in shopping. For example, Behr Process Corporation took the initiative of adding tutorials on their website which provide expert guidelines to the homemakers. Albeit is a major contributor in the industry with renewable resources used in the manufacturing of coating material. It uses tree extract called sweet swap which can be used as emulsifier for marking a water-in-oil emulsion owing to low VOC compounds. Notable industry participants include Akzo Nobel NV, PPG Industries, The Sherwin-Williams, RPM International, Valspar, Nippon Paint, and Kansai Paint.
This latest Architectural Coatings Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Architectural Coatings industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Architectural Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024.” in detail along with the table of contents.
Key Insights in this Report
- Global Architectural Coatings Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Architectural Coatings Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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