The Architectural Coatings Market had a market value of $63.3 billion in 2022, and is anticipated to rise at a CAGR of 5.9% from 2023 to 2030 to reach $107.9 billion.
Architectural coatings are a type of coatings used in the building and construction sector. Generally, architectural coatings are designated for specific applications such as roof coatings, wall paints, or deck finishes and are mainly employed for performing certain decorative, durable, and protective functions. The global Architectural Coatings market has been expanding at a significant rate over the past few years. The massive increase in the number of residential buildings across the world is one of the key reasons to boost the growth of the Architectural Coatings market.
Furthermore, the growing financial and social status of the population, particularly in developing countries, this factor supports to raise the growth of the market steadily. Moreover, growth in environmental awareness has led to the introduction of quality products in the architectural coatings market. In addition to this, increasing investment in infrastructure, stringent environmental regulations, growing purchasing power, and the rising demand for green and environmentally friendly coatings are some other important factors remarkably propelling the growth of the Architectural Coatings market.
Covid-19 Impact on Architectural Coatings Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world
Architectural Coatings Market Segment Overview
Based on the Resin, the Acrylic segment accounted for the maximum share in the Architectural Coatings Market. This is because it is used in major architectural coatings. The weathering and oxidation resistance of acrylics is better than oil-based paints, alkyds, or epoxies as the main components of acrylic polymers provide a polymer structure that has little tendency to absorb UV light. Additionally, acrylics have good color and gloss retention. They are well known for their durability as they protect the underlying substrate from degradation caused by exposure to rain, snow, wind, and UV light. According to Technology, the Water-based segment has significant growth in the market. Water-based architectural coatings are preferred more as compared to other types of architectural coatings, owing to it is environment-friendly.
Architectural Coatings Market, By Resin
· Acrylic
· Alkyd
· Vinyl
· Polyurethane
· Others
Architectural Coatings Market, By Technology
· Water-based
· Solvent-based
· Powder Coating
Architectural Coatings Market, By End-User
- Residential
- New Building
- Reconstruction
- Non-Residential
- New Building
- Reconstruction
Region-wise, Asia Pacific dominated the global Architectural Coatings market. China contributes significantly to the market. Rapid urbanization is boosting the architectural coatings market in China. Moreover, demand from the furniture market and availability of resins such as polyurethane and acrylic are expected to have a significant impact on the architectural coatings market in India. Likewise, the market in Europe is expected to witness significant growth during the forecast period. Innovation in coating products and the growing consumer demand for specialized & sustainable coating solutions are propelling the architectural coating market in Europe.
Architectural Coatings Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Architectural Coatings Market Competitor overview
Some key developments and strategies adopted by manufacturers in Architectural Coatings are highlighted below.
· In August 2021, PPG announced the introduction of PPG ENVIROCRON™ PCS P4 powder coatings for architectural, home décor and furniture applications. This latest generation of powder coatings meets the growing demand for matte and premium-textured finishes in applications ranging from aluminum and steel substrates for building construction to urban and office furniture.
Architectural Coatings Market, Key Players
· The Sherwin –Williams company
· PPG Industries Inc.
· Akzo Nobel
· Kansai Paints Co., Ltd.
· Asian Paints Limited
· Nippon Paint Holdings Co., Ltd.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Architectural Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Resin
- 5.2.1. Acrylic
- 5.2.2. Alkyd
- 5.2.3. Vinyl
- 5.2.4. Polyurethane
- 5.2.5. Others
- 5.3. Market Analysis, Insights and Forecast – By Technology
- 5.3.1. Water-based
- 5.3.2. Solvent-based
- 5.3.3. Powder Coating
- 5.4. Market Analysis, Insights and Forecast – By End-User
- 5.4.1. Residential
- 5.4.1.1. New Building
- 5.4.1.2. Reconstruction
- 5.4.2. Non-Residential
- 5.4.2.1. New Building
- 5.4.2.2. Reconstruction
- 5.4.1. Residential
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Architectural Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Resin
- 6.2.1. Acrylic
- 6.2.2. Alkyd
- 6.2.3. Vinyl
- 6.2.4. Polyurethane
- 6.2.5. Others
- 6.3. Market Analysis, Insights and Forecast – By Technology
- 6.3.1. Water-based
- 6.3.2. Solvent-based
- 6.3.3. Powder Coating
- 6.4. Market Analysis, Insights and Forecast – By End-User
- 6.4.1. Residential
- 6.4.1.1. New Building
- 6.4.1.2. Reconstruction
- 6.4.2. Non-Residential
- 6.4.2.1. New Building
- 6.4.2.2. Reconstruction
- 6.4.1. Residential
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Architectural Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Resin
- 7.2.1. Acrylic
- 7.2.2. Alkyd
- 7.2.3. Vinyl
- 7.2.4. Polyurethane
- 7.2.5. Others
- 7.3. Market Analysis, Insights and Forecast – By Technology
- 7.3.1. Water-based
- 7.3.2. Solvent-based
- 7.3.3. Powder Coating
- 7.4. Market Analysis, Insights and Forecast – By End-User
- 7.4.1. Residential
- 7.4.1.1. New Building
- 7.4.1.2. Reconstruction
- 7.4.2. Non-Residential
- 7.4.2.1. New Building
- 7.4.2.2. Reconstruction
- 7.4.1. Residential
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Architectural Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Resin
- 8.2.1. Acrylic
- 8.2.2. Alkyd
- 8.2.3. Vinyl
- 8.2.4. Polyurethane
- 8.2.5. Others
- 8.3. Market Analysis, Insights and Forecast – By Technology
- 8.3.1. Water-based
- 8.3.2. Solvent-based
- 8.3.3. Powder Coating
- 8.4. Market Analysis, Insights and Forecast – By End-User
- 8.4.1. Residential
- 8.4.1.1. New Building
- 8.4.1.2. Reconstruction
- 8.4.2. Non-Residential
- 8.4.2.1. New Building
- 8.4.2.2. Reconstruction
- 8.4.1. Residential
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Architectural Coatings Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Resin
- 9.2.1. Acrylic
- 9.2.2. Alkyd
- 9.2.3. Vinyl
- 9.2.4. Polyurethane
- 9.2.5. Others
- 9.3. Market Analysis, Insights and Forecast – By Technology
- 9.3.1. Water-based
- 9.3.2. Solvent-based
- 9.3.3. Powder Coating
- 9.4. Market Analysis, Insights and Forecast – By End-User
- 9.4.1. Residential
- 9.4.1.1. New Building
- 9.4.1.2. Reconstruction
- 9.4.2. Non-Residential
- 9.4.2.1. New Building
- 9.4.2.2. Reconstruction
- 9.4.1. Residential
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. The Sherwin –Williams company
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. PPG Industries Inc.
- 10.6. Akzo Nobel
- 10.7. Kansai Paints Co., Ltd.
- 10.8. Asian Paints Limited
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
