The global architectural coatings market size is projected to grow from USD 85.0 billion in 2023 to USD 102.7 billion by 2028, at a CAGR of 3.9%, between 2023 and 2028. The residential construction application of architectural coatings is dominated by the repainting segment. Exterior paints and coatings fade as a result of weather and pollution, necessitating renovation and repair. This is raising the need for architectural coatings in the residential repainting market. In the United States, it has been found that the growth in demand for home remodeling is mostly due to the fact that 65% of current houses were built before the 1990s. People nowadays dwell in their houses for longer periods of time than previous generations, resulting in increased expenditure on home remodeling.
The polyurethane resin type segment is expected to register the highest CAGR during the forecast period
Polyurethane resins are created by combining polyalcohol with organic di-isocyanate. Polyurethane resin paints have exceptional durability, hardness, and gloss, and they are easy to clean. Because of these qualities, polyurethane resin paints are employed in a variety of applications across the world. Polyurethane resin is a kind of polymer that is commonly used in architectural coatings. This resin has a number of advantages, including durability, abrasion resistance, and scratch resistance. It may also preserve the surface from fading by providing UV protection. Polyurethane resin is frequently utilized in both exterior and interior coatings due to these advantages. Polyurethane resin is commonly used in architectural coatings for deck flooring, window frames, and wall panels. Polyurethane resin may also be used in a wide range of colorants to produce a wide range of colors and textures.
Powder coatings segment in technology is expected to register the highest CAGR during the forecast period
The powder-based method coats substrates with thermoplastic or thermoset films using dry resin powders. The coating is created after a layer of powder is put to the substrate with a powder spray cannon or fluidized bed tank and then heated, melting the powder. Increasingly strict environmental rules for zero or non-VOC coatings are a major driving force in the expansion of the powder-based category. Powder-based technology is environmentally benign and is predicted to increase rapidly because to its unique characteristics such as good corrosion resistance, chipping, high-quality finish, and abrasion. It also protects against moisture, heat, and chemicals. These power coatings produce very little VOCs.
Middle East & Africa architectural coatings market is estimated to register one of the highest CAGR during the forecast period
Saudi Arabia, South Africa, and the rest of the Middle East and Africa are the countries under consideration. This region has 20% of the world’s population, necessitating massive residential building. This demand, together with the growing middle-class population, is likely to contribute to modest growth in the coatings business. Middle Eastern economic growth is a critical component in developing commercial prospects in the Gulf Cooperation Council (GCC). The majority of Middle Eastern and African countries have made significant investments in the building sector. This is done in order to diversify their economy away from oil and oil-related businesses and towards other industrial sectors. However, fluctuating oil prices and geopolitical tensions are expected to have a minor impact on the growth rate.
The break-up of the profile of primary participants in the architectural coatings market:
- By Company Type: Tier 1 – 46%, Tier 2 – 43%, and Tier 3 – 27%
- By Designation: C Level – 21%, D Level – 23%, and Others – 56%
- By Region: North America – 37%, Asia Pacific– 26%, Europe – 23%, Middle East & Africa – 10%, and South America – 4%
The key companies profiled in this report are The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Masco Corporation (US), and others.
This research report categorizes the architectural coatings market by Resin Type (Acrylic, Alkyd, vinyl, Polyurethane, Others). Based on the technology (Waterborne, Solventborne, and Powder Coatings). Based on the coating type (Interior and Exterior). Based on the user type (DIY and Professional. Based on the application (Residential and non-residential), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the architectural coatings market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the architectural coatings market. Competitive analysis of upcoming startups in the architectural coatings market ecosystem is covered in this report. Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall architectural coatings market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing demand for sustainable raw material building and construction), restraints (volatility in raw material prices), opportunity (expansion in untapped markets), and challenges (stringent regulatory policies).
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the architectural coatings market
- Market Development: Comprehensive information about lucrative markets – the report analyses the architectural coatings market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the architectural coatings market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Masco Corporation (US), and others. The report also helps stakeholders understand the pulse of the architectural coatings market and provides them information on key market drivers, restraints, challenges, and opportunities.