Azoth Analytics has released research named “Architectural Coating Market Factbook (2022 Edition)” which provides a complete analysis of the global architectural coating industry in terms of market segmentation by type, technology, end-use, and region.
The research also includes a thorough assessment of current and future market trends that are related to the expansion of the market and a look at the market’s growth indicators, restraints, supply and demand risk, and other key statistics.
During the forecast period, 2023-2028, the global architectural coating market is expected to expand at a CAGR of 5%. In this study, Azoth Analytics focuses on the water-borne and solvent-borne subsegments of the market. By 2028, the water-borne market is expected to bring in the most money, with the help of a growing need for related technologies. The emergence of specialty application sectors such as fresco and sculpture restoration in heritage sites is expected to boost market growth over the next six years. Increased rehabilitation and restoration activities in both residential and commercial structures are expected to fuel market expansion during the projected period in nations such as the United States, Canada, Mexico, Germany, Japan, China, and Australia.
Global Architectural Coating Market Summary
The global architectural coating market is expected to generate USD 95 billion by the end of 2028, up from USD 70 billion in 2021. Over the forecast period, the transition from solvent-borne to water-borne formulations is likely to contribute to the growth of the worldwide architectural coatings market. Stringent government controls against the toxic VOCs released by specific architectural paints, on the other hand, may stymie industry growth. The development of green coatings is expected to open up new business prospects.
The architectural coatings business was impacted by a lack of subcontractors and raw materials, supply chain interruptions, partial or suspended production, and travel restrictions during the COVID-19 epidemic, all of which impacted demand from the architectural, automotive, and aerospace sectors. An increase in demand from the construction and general industrial sectors is expected to drive post-COVID-19 pandemic demand for architectural coatings. Furthermore, the increase in nanocoating’s application sectors gives prospects for growth.
Geographically, the architectural coating market is segmented into five major regions including the Americas, Europe, Asia Pacific, and the Middle East & Africa region. Out of these, the market in the Asia Pacific region is estimated to garner the largest market share by the end of 2028, on the back of the rate of vehicle production, urbanization & industrialization, expansion in research and development expenditure, high disposable income, and considerable growth in GDP.
The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Brazil, and the Rest of the Americas), Europe (Germany, France, Italy, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
Increased Construction Activity Will Drive Market Growth.
India’s construction industry is expected to be one of the largest in the world by 2030, with a revenue of USD 610 billion.
Exterior architectural coatings that protect a structure from moisture, UV radiation, and microbes are in high demand. Furthermore, the growing demand for architectural coatings with a broader color palette, greater uniformity, and increased durability has resulted in the development of a diverse variety of eco-friendly, higher-quality choices.
Architectural coatings, often known as ornamental coatings, are coating compositions that are used to coat structures and dwellings. The word architectural coatings refer to a wide variety of coatings, including varnishes, paints, primers, sealers, inks, ceramics, and others. They are used on the interior and exterior walls, floors, and ceilings of buildings. Buildings, architectural coatings, and other similar variables should be resistant to moisture, heat, changeable weather, chemicals, and similar others.
The global architectural coatings industry is being pushed by the construction boom, particularly in Asia-growing Pacific economies. Furthermore, changes in customer tastes and increased public awareness about the safety and VOC emissions from architectural coatings drive the industry.
This study also contains company profiling and the current competition status of some of the leading players in the global architectural coating market of PPG Industries, AkzoNobel, BASF SE, Sherwin-Williams, Axalta Coating Systems, Nippon Paints, RPM International Inc., Asian Paints, Kansai Paint, Jotun. and others. The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments. Overall, the report provides a detailed overview of the global architectural coating market, which will assist industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players looking for opportunities, and other stakeholders in aligning their market-centric strategies with current and expected future trends.