Architectural Coatings Market

Architectural Coatings Market Insights

“The global architectural coatings market is estimated to grow at a decent CAGR of 2.6% during the forecast period to reach a value of US$ 95.0 billion by 2028.”

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Introduction

Architectural coatings are coating solutions that are applied to homes and structures. They are also known as decorative coatings. Architectural coatings refer to a broad range of coatings, including varnishes, paints, primers, sealants, inks, ceramics, and many more. Architectural coatings need to be resistant to a variety of substances because they are used on interior and exterior walls, floors, and ceilings of structures. These substances include moisture, heat, chemicals, changing weather, and others.

Architectural Coatings Market Dynamics

Market Drivers

The architectural coatings market is witnessing robust growth, fuelled by multiple factors:

• Shifting consumer interests and increased public awareness of VOC (Volatile Organic Compound emissions) influence market trends.

• The forecasted shift from solvent-borne to water-borne coatings supports market expansion.

• Strict government regulations on toxic VOCs may hinder market growth.

• Adoption of green coatings, meeting safety, and VOC emission standards, presents growth opportunities.

• Infrastructure growth in Asia-Pacific drives global demand for architectural coatings.

COVID-19 Impact

Lack of subcontractors and raw materials, supply chain problems, partial or halted production, and travel restrictions all influenced the demand for architectural coatings during the COVID-19 pandemic.

Architectural Coatings Market Segments' Analysis

Resin Insights

“Acrylics segment dominates the market.”

The market is bifurcated into Acrylics, Polyurethanes, Epoxy, Polyester, and Others. Acrylics remain the biggest demand generator for architectural coatings in the foreseen future. The key factor driving the acrylic segment dominance is the greater need for safe, high-performance coatings, which has increased the demand for acrylic coatings overall. Furthermore, a paradigm shift from solvent-borne to water-borne assures a gargantuan demand for architectural coatings in the years to come.

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Technology Insights

“Water-borne segment dominates the market.”

The market is segmented as water-borne, solvent-borne, and powder. Water-Borne remains at the nucleus for all the leading market stakeholders serving the architectural coatings market as the demand for water-borne coatings has increased due to its low VOC emission and environmentally safe nature. It is also anticipated that water-borne will remain the most preferred technology type in the market in the foreseeable future.

End-User Insights

“Residential segment dominates the market.”

The market is segmented as Residential and Commercial. Residential remains the largest segment of the architectural coatings market. Recent technical developments like nanostructured coatings offer new applications by delivering antibacterial, self-cleaning, and anti-corrosive qualities that present significant market potential opportunities in the future. It is also anticipated that residential will remain the most preferred end user in the market in the foreseen future.

Regional Insights

“Asia-Pacific is the largest market.”

Asia-Pacific is the largest market for architectural coatings over the forecast period. In addition to that, the region is likely to witness healthy market growth in the coming years. The growing population and developing economy are the main drivers of the APAC Architectural Coatings industry. During the projection period, China and India's residential and commercial sectors are both anticipated to grow, which would in turn fuel this region's need for architectural coatings.

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Key Players

The market is highly fragmented with the presence of several local, regional, and global players. Most of the major players compete in price, product depth, geographical presence, etc. 

The following are some of the key players in the architectural coatings market (arranged alphabetically).

• AkzoNobel N.V.
• Asian Paints
• BASF SE
• Jotun
• Kansai Paint Co., Ltd.
• Masco Corporation
• Nippon Paint Holdings Co. Ltd.
• PPG Industries, Inc.
• The Sherwin-Williams Company

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s architectural coatings market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants and investors in identifying the low-hanging fruits available in the market and formulating the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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