Market Definition:
The global architectural coatings market was valued at USD 66.86 billion in 2019, and is estimated to garner USD 109.34 billion by 2030, expanding at a CAGR of 4.5% during the forecast period, from 2020 to 2030.
Architectural coatings are synthetic formulations applied on architectural structures to increase their longevity, improve esthetics, and provide protection against extreme weather conditions such as humidity, temperature, chemicals, and changing climatic conditions. These coatings are applied on interior & exterior walls, floors, ceilings of residential and non-residential buildings among others. Architectural coatings are durable and reduce the risks of fire-hazards. These coatings are made using various resin such as acrylic, epoxy, polyester, polyurethane, and alkyd.
Market Dynamics and Trends
The expansion of the global architectural coatings market is attributed to the growing demand in building & construction sector, increasing renovation activities of residential and non-residential buildings, demand for fireproofing and waterproofing materials in old or new constructions, and growing inclination of consumers towards green-buildings and eco-friendly infrastructure. Moreover, increase in per-capita disposable income globally, surge in infrastructural spending, and construction of new skyscrapers are expected to propel the market during the forecast period.
However, implementation of stringent regulatory standards regarding emission of volatile organic carbons (VOC), high risk of health hazards imposed by some harmful chemicals, and concerns regarding environmental impacts are impeding the market growth. On the other hand, recovery of the construction industry in South America, development of water-based eco-friendly architectural coatings, government support to boost the adoption of green coatings that are formulated by strictly abiding to the environmental norms, mounting application of nano-coatings, and introduction of fluoropolymer coatings are creating opportunities in the market.
Market Segmentations and Scope of the Study:
The architectural coatings market is segmented based on resin type, technology, function, end-user industry, and geography. In terms of resin type, the market is segregated into acrylic, polyurethane, urethane alkyd, epoxy, polyester, and others. On the basis of technology, the architectural coatings market is bifurcated into water borne and solvent borne. Based on function, the market is categorized as ceramics, inks, lacquers, paints, powder coatings, primers, sealers, stains, and varnishes. Based on end-user industry, the architectural coatings market is divided into residential and non-residential. In terms of geography, the global architectural coatings is split into North America, Europe, Asia-Pacific, and Rest of World (RoW).
Geographical Analysis
Asia-Pacific is anticipated to hold the major share of the global architectural coatings market throughout the forecast period due to the growth of the construction sector in India, China, and Japan. Also, increase in renovation activities by governments in the region are contributing to the growth of architectural coatings market.
North America represents a relatively mature market and is expected to grow during the forecast period owing to technological advancements, presence of well-established infrastructures, and increasing demand for bio-based coating materials.Competitive Landscape
Key players in the global architectural coatings market are PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Axalta Coatings, RPM International Inc., The Valspar Corporation, Midwest Industrial Coatings Inc., Sumter Coatings, and BASF SE.
In April 2020, PPG Industries, Inc., donated more than 290 gallons of anti-bacterial interior latex coatings to the Shanghai Tong Ren Hospital. The facility intends to use the coatings in the renovation of its medical laboratory, fever clinic, negative pressure isolation room, and centre of disease control. PPG Industries, Inc.’s Master’s Mark LUXURIANT and ECO TOUCH interior latex coatings kills 99.99% of E-coli and Staphylococcus germs and 99.93% of the H1N1 virus.
KEY MARKET SEGMENTS:
Global Architectural Coatings Market - By Resin Type
Global Architectural Coatings Market - By Technology
Global Architectural Coatings Market - By Function
Global Architectural Coatings Market - By End-use Industry
Global Architectural Coatings Market - By Geography
KEY PLAYERS:
The global architectural coatings market was valued at USD 66.86 billion in 2019, and is estimated to garner USD 109.34 billion by 2030, expanding at a CAGR of 4.5% during the forecast period, from 2020 to 2030.
Architectural coatings are synthetic formulations applied on architectural structures to increase their longevity, improve esthetics, and provide protection against extreme weather conditions such as humidity, temperature, chemicals, and changing climatic conditions. These coatings are applied on interior & exterior walls, floors, ceilings of residential and non-residential buildings among others. Architectural coatings are durable and reduce the risks of fire-hazards. These coatings are made using various resin such as acrylic, epoxy, polyester, polyurethane, and alkyd.
Market Dynamics and Trends
The expansion of the global architectural coatings market is attributed to the growing demand in building & construction sector, increasing renovation activities of residential and non-residential buildings, demand for fireproofing and waterproofing materials in old or new constructions, and growing inclination of consumers towards green-buildings and eco-friendly infrastructure. Moreover, increase in per-capita disposable income globally, surge in infrastructural spending, and construction of new skyscrapers are expected to propel the market during the forecast period.
However, implementation of stringent regulatory standards regarding emission of volatile organic carbons (VOC), high risk of health hazards imposed by some harmful chemicals, and concerns regarding environmental impacts are impeding the market growth. On the other hand, recovery of the construction industry in South America, development of water-based eco-friendly architectural coatings, government support to boost the adoption of green coatings that are formulated by strictly abiding to the environmental norms, mounting application of nano-coatings, and introduction of fluoropolymer coatings are creating opportunities in the market.
Market Segmentations and Scope of the Study:
The architectural coatings market is segmented based on resin type, technology, function, end-user industry, and geography. In terms of resin type, the market is segregated into acrylic, polyurethane, urethane alkyd, epoxy, polyester, and others. On the basis of technology, the architectural coatings market is bifurcated into water borne and solvent borne. Based on function, the market is categorized as ceramics, inks, lacquers, paints, powder coatings, primers, sealers, stains, and varnishes. Based on end-user industry, the architectural coatings market is divided into residential and non-residential. In terms of geography, the global architectural coatings is split into North America, Europe, Asia-Pacific, and Rest of World (RoW).
Geographical Analysis
Asia-Pacific is anticipated to hold the major share of the global architectural coatings market throughout the forecast period due to the growth of the construction sector in India, China, and Japan. Also, increase in renovation activities by governments in the region are contributing to the growth of architectural coatings market.
North America represents a relatively mature market and is expected to grow during the forecast period owing to technological advancements, presence of well-established infrastructures, and increasing demand for bio-based coating materials.Competitive Landscape
Key players in the global architectural coatings market are PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Axalta Coatings, RPM International Inc., The Valspar Corporation, Midwest Industrial Coatings Inc., Sumter Coatings, and BASF SE.
In April 2020, PPG Industries, Inc., donated more than 290 gallons of anti-bacterial interior latex coatings to the Shanghai Tong Ren Hospital. The facility intends to use the coatings in the renovation of its medical laboratory, fever clinic, negative pressure isolation room, and centre of disease control. PPG Industries, Inc.’s Master’s Mark LUXURIANT and ECO TOUCH interior latex coatings kills 99.99% of E-coli and Staphylococcus germs and 99.93% of the H1N1 virus.
KEY MARKET SEGMENTS:
Global Architectural Coatings Market - By Resin Type
- Acrylic
- Polyurethane
- Alkyd
- Epoxy
- Polyester
- Urethane
- Others (PVDE and PTFE)
Global Architectural Coatings Market - By Technology
- Water Borne
- Solvent Borne
Global Architectural Coatings Market - By Function
- Ceramics
- Inks
- Lacquers
- Paints
- Powder Coatings
- Primers
- Sealers
- Stains
- Varnishes
Global Architectural Coatings Market - By End-use Industry
- Residential
- Non-residential
Global Architectural Coatings Market - By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- RoW
- UAE
- Saudi Arabia
- South Africa
- Brazil
- Remaining Countries
KEY PLAYERS:
- PPG Industries
- Asian Paints
- Nippon Paints
- The Sherwin-Williams Company
- Axalta Coatings
- RPM International Inc.
- The Valspar Corporation
- Midwest Industrial Coatings Inc.
- Sumter Coatings
- BASF SE
Table of Contents
1. Introduction
2. Market Snapshot, 2019-2030 Million Usd
4. Market Dynamics
5. Global Architectural Coatings Market, by Resin Type
6. Global Architectural Coatings Market, by Technology
7. Global Architectural Coatings Market, by Function
8. Global Architectural Coatings Market, by End Use Industry
9. Global Architectural Coatings Market, by Region
10. Company Profiles
Executive Summary
Architectural Coatings Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2030- Expansion of the building & construction sector and increase in the renovation activities of residential and non-residential buildings are propelling the Global Architectural Coatings Market.Architectural coatings are synthetic formulations applied on architectural structures to increase their longevity, improve esthetics, and provide protection against extreme weather conditions such as humidity, temperature, chemicals, and changing climatic conditions. These coatings are applied on interior & exterior walls, floors, ceilings of residential and non-residential buildings among others. Architectural coatings are durable and reduce the risk of fire-hazards. These coatings are made using various resin such as acrylic, epoxy, polyester, polyurethane, and alkyd.
The architectural coatings market is segmented on the basis of resin type, technology, function, end-user industry, and geography. In terms of resin type, the market is segregated into acrylic, polyurethane, urethane alkyd, epoxy, polyester, and others. On the basis of technology, the architectural coatings market is bifurcated into water borne and solvent borne. Based on function, the market is categorized as ceramics, inks, lacquers, paints, powder coatings, primers, sealers, stains, and varnishes. Based on end-user industry, the architectural coatings market is divided into residential and non-residential.
In terms of geography, the global architectural coatings is split into North America, Europe, Asia-Pacific, and Rest of World (RoW).
Companies Mentioned
A selection of companies mentioned in this report includes:
- AKZO Nobel
- Axalta Coatings
- Asian Paints
- BASF SE
- Nippon Paints
- Kansai Paint Co.
- PPG Industries
- RPM International Inc.
- The Sherwin- Williams Company
- The Valspar Corporation
