Global Architectural Coatings Market is projected to register a substantial CAGR of 6.3% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Global Architectural Coatings Market
- Rising demand from construction industry
- Rising paint consumption in emerging economies
Restraint:
- Fluctuation in prices of raw materials
Opportunities:
- Growing investments in emerging markets
- Increase in reconstruction spending in the U.S.
Challenge:
- Environmental concerns regarding volatile organic compound (VOC)
Market Trends
Global architectural coatings market is segmented into four notable segments which are resin type, technology, function and application.
- On the basis of resin type, the market is segmented into acrylic, alkyds, epoxy, polyurethane, polyesters, vinyl acetate-ethylene (VAE) and others. In 2019, acrylic segment is expected to dominate the market with the largest market share due to high demand of the acrylic resin in exterior painting and their preference due to long lasting life of coating in architecture sectors.
- On the basis of technology, the market is segmented into waterborne and solventborne.
- On the basis of function, the market is segmented into ceramics, lacquers, paints, powder coatings, primers, sealers, stains, varnishes and others. In 2019, paints segment is expected to dominate the market with the largest market share due to their highest demand in the exterior and interior decoration of architectural sites and growing infrastructural development in emerging economy adopting the highest utilization of paints.
- On the basis of application, the market is segmented into residential, commercial, coatings for wood, floor coatings, and roof coatings.
Major Players: Global Architectural Coatings Market
Some of the major players operating in this market are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, NIPSEA Group, BASF SE, Asian Paints Limited, Axalta Coating Systems, LLC, Brillux GmbH & Co. KG, Colorado Commercial & Residential Painting, IFS Coatings, Kansai Paint Co., Ltd., KEIM Mineral Coatings of America, Inc., Kelly-Moore Paints, Masco Corporation, RPM International Inc. among others.
