According to the current analysis of Reports and Data, the global architectural coatings market was valued at USD 65.0 Billion in 2018 and is expected to reach USD 94.43 Billion by the year 2026, at a CAGR of 4.9 %. The architectural coatings market is on the rise, due to increasing applications, technological advancements, and the growing demand for coatings that makes substance, to which it is applied more durable, boost its weathering performance with dynamic mechanical properties, such as improved corrosion resistance and improved flexibility. Growth of construction industry, increase in investments for infrastructure maintenance, Increasing renovation and refurbishment activities, rise in the demand of high performing, eco-friendly and durable coating materials for construction components are the primary drivers of the architectural coatings market. The study covers architectural coatings which are utilized in the interior or exterior surfaces in residential or non-residential applications.
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Rising constructional activities and infrastructural spending, growing demand for fireproofing and waterproofing materials in construction industries are escalating the need for architectural coatings in the China and other APAC countries like South Korea, Indonesia, Singapore, and India. In India especially growth is majorly due to the rising demand for architectural coatings from the furniture sector.
However, in developed nations like U.S.A., Canada, Germany, Japan, Turkey, and Australia, the growth is due to the increasing renovation & refurbishment activities in residential, non-residential, and commercial architectures. These are some of the key factors propelling architectural coatings market growth in the industry.
However, there exist some factors related to the architectural coatings market that are impeding the growth of the market. High raw material cost and strict economic regulations are the major hindrances for market growth during 2019-2026.
Further key findings from the report suggest
- Architectural coating Market is growing at a CAGR of 1% in the Asia Pacific, followed by North America and Europe, with 6.1 % and 6.0% CAGR, respectively. Increased constructional and infra spending across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2018, Acrylic is the dominating architectural coatings which holds 31.4% of the global market. Asia-Pacific region’s regional market is the chief revenue-generating source for this product segment, followed by North America and Europe region.
- Ceramics segment is expected to be the fastest-growing market segment by function type during the forecast period 2019-2026 with a CAGR of 6.0%. However, associated regulations and high raw material cost are significant challenges for the market growth of this market segment.
- Inks and paints segment (that includes Ceramics, Lacquers, and Powder Coatings, etc.) was valued at USD 38.9 billion and is expected to reach USD 56.9 billion by 2026.
- The Asia Pacific region is accounted for 45.5% of the global architectural coatings market. Courtesy of increased applications of architectural coatings, rising constructional and renovation activities in China, increased demand from the furniture market in India are boosting the growth of architectural coatings market in the region.
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- The growth rate of the architectural coating market has been low or even negligible in some regions. Associated factors related to architectural coatings market that are hindering the growth of the architectural coatings are rising raw material cost and non-lenient environmental regulations.
- Key participants include PPG Industries Inc., Akzo Nobel NV, the Sherwin-Williams Company, and Nippon Paint Holdings Co. Ltd, Kansai Paints Co., Ltd., Asian Paints Limited
For a better understanding of this report, Reports and Data has segmented the architectural coatings market based on resin type, technology type, function type, end-use, and region:
By Resin Type (Revenue, USD Million) (Volume in Tons); 2016–2026)
- Others (PTFE, PVDF, Etc.)
By Technology (Revenue, USD Million) (Volume in Tons); 2016–2026)
- Solvent Borne
By Function Type (Revenue, USD Million) (Volume in Tons); 2016–2026)
- Powder Coatings
End-Use (Revenue, USD Million) (Volume in Tons); 2016–2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- Rest of Latin America
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