The Architectural Coatings Market is segmented by Resin Type (Acrylic, Polyurethane, Epoxy, Polyester, and Others), by Application Type (Interior and Exterior), by Technology Type (Water-Borne Coatings, Solvent-Borne Coatings, and Powder Coatings), by End-User Type (Residential, and Commercial), by User Type (Do-It-Yourself (DIY) and Professional), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
The Architectural Coatings Market is segmented by Resin Type (Acrylic, Polyurethane, Epoxy, Polyester, and Others), by Application Type (Interior and Exterior), by Technology Type ...
The 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 in 2028.
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.
Market Dynamics
The infrastructure growth, particularly in the developing nations of Asia-Pacific, is what is driving the market for architectural coatings globally. The market is also influenced by shifting consumer interests and an increase in public knowledge of the concerns of Volatile organic compounds (VOC) emissions from architectural coatings. In addition, it is predicted that during the forecast period, the shift from solvent-borne to water-borne coating formulations would support the expansion of the global architectural coatings market. The market expansion, however, may be hampered by strict government laws against the toxic VOCs released by some architectural coatings. The market is anticipated to have several growth prospects as a result of the adoption of green coatings currently under development. These coatings adhere to the safety and VOC emission standards set by governing authorities.
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.
Segments Analysis
By Resin Type
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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By Technology Type
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.
By End-User Type
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 Analysis
Asia-Pacific is expected to remain 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:
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.
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.
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Architectural Coatings Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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Asia-Pacific is also estimated to grow at the fastest rate in the coming five years. Significant capital investments paired with the entry of new players to address the region’s huge market potential.
Acrylics remain the biggest demand generator for architectural coatings in the foreseen future. The key factors driving the acrylics’ segment dominance are the greater need for safe, high-performance coatings, which has increased demand for acrylic coatings overall.
