Architectural Coatings Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Asia Pacific |
| CAGR: | > 4 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Architectural Coatings Market Analysis
The Global Architectural Coatings market size is evaluated at USD 50 billion in 2021 and is projected to register a CAGR of over 4% during the forecast period (2022-2027).
The construction sector is a major driver of the Architecture Coatings Market. These coatings have several advantages including corrosion resistance, UV rays protection, etc. Vinyl Acetate is the common type of Architecture coating in use. Architecture Infrastructure is expected to see a rise in demand for Market Studied.
- Increasing demand for Low VOC Coatings is creating various opportunities in this Market.
- Increasing Global Warming Concern across the globe is demanding safe and energy-saving coatings for office buildings, residential homes, etc.
- Asia-Pacific is expected to dominate the global market, during the forecast period.
Architectural Coatings Industry Segmentation
The scope of the study includes coatings used for commercial purposes, such as office buildings, warehouses, retail convenience stores, and shopping malls and residential buildings. However, it does not include the infrastructure segment, which comprises roads, bridges, and rails. Moreover, it also includes the coatings used in the new construction and remodeling of old houses.
The architectural coatings market is segmented by technology, resin type, application, construction sector, and Geography. By technology, the market segmented into Water-borne and Solvent-borne. By resin type, the market is segmented into Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Other Resin Types. B By construction sector, the market is segmented into commercial and residential. The report also covers the market size and forecasts for the architectural coatings market in 25 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million) and volume (kilotons).
| Technology | |
| Water-borne | |
| Solvent-borne |
| Resin Type | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Epoxy | |
| Polyester | |
| Other Resin Types |
| End-use sub segment | |
| Commercial | |
| Residential |
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Architectural Coatings Market Trends
This section covers the major market trends shaping the Architectural Coatings Market according to our research experts:
Increasing Demand from Residential Sector
- Among the end-user segments, the residential segment dominated the construction sector in 2021, generating the highest demand for architectural coatings in the global market.
- In China, there has been a significant increase in demand for residential houses in the recent past. With the prices of the residential houses at an all time low when compared to the previous years the demand for the residential houses has increased to a greater extent there by increasing the demand for architectural coatings.
- Similarly, in the United States, residential paint consumption saw high growth in 2022. According to the United States Cnesus Board and United States Department of Housing and Urban Development the number of private houses construction increased by 1.1% in August 2022 compared to 1,655,000 houses in July 2022.
- In the coming year it is projected that there would be a high demand of residential and commercial buildings in Russia and Ukraine due to the recent outbreak of the war.
- All the above mentioned factors are expected to drive the demand for the architectural paints and coatings in the forecast period.
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China to Dominate the Asia-Pacific Region
- Architectural coating consumption in China has been on rising in the recent past. There has been an increase in the floor space of the residential houses from 66,423.47 thousand Square metres in June 2022 to 76,066.76 thousand Square metres in July 2022. This has a direct impact on the increase in the consumption of Architectural coatings in the country.
- The increase in consumption and sales is expected to grow in the forecasted period due to the government initiatives such as revoking filing and mandatory testing requirements of imported paint and coatings in the country from march, 2022 grows the confidence of coating companies in the positive future of architectural coating in the country.
- The waterborne coating holds the largest share of around 79% of the total architectural coating consumed in the country due to the long adoption of VOC regulations set by the Chinese government. Furthermore, the country’s commitment toward carbon neutrality by 2050, will further drive the eco-friendly product like waterborne coatings in the country.
- In China, acrylic coatings holds the major share amongst resin type, in terms of the total consumption volume of architectural coatings during 2016-2021, as it is used to coat the major part of the exterior walls.
- Acrylic coatings accounted for about ore than half of the total architectural coatings consumed during this period. The Chinese government regulations are majorly driving the adoption of low VOC architectural coatings and forces architectural coating manufacturers to reduce the VOC content in their coatings and market it as a safe product.
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Architectural Coatings Industry Overview
The architectural coatings market is fragmented in nature. Some of the major players of the market studied include (not in particular order) Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries, Inc., 3 Trees and Nippon Paint Holdings Co., Ltd., among others.
Architectural Coatings Market Leaders
Akzo Nobel N.V.
The Sherwin-Williams Company
PPG Industries
Nippon Paint Holdings Co., Ltd.
Hemple
*Disclaimer: Major Players sorted in no particular order
Architectural Coatings Market News
- On March 11, 2022, AkzoNobel opened a global R&D center in the UK. This will help the organization to further advance in innovation capabilities in the area of decorative paints.
- On February 10, 2022, Hempel acquired KHIMJI PAINTS LLC. This acquisition will expand the roots of Hempel in the Middle East.
- On June 10, 2021, PPG Industries acquired TIKKURILA, a leading Nordic paint and coating company in Finland. This is expansion will grow sales of PPG Industries in Finland, Sweden, Russia, Poland, and the Baltic states.
Architectural Coatings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMEREY
4. MARKET DNAMICS
4.1 Drivers
4.1.1 Growth in Median Floor Area of Eastern European Countries
4.1.2 Increasing Residential and Commertial Infrastructure
4.2 Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Regulations
5. MARKET SEGMENTATION
5.1 Technology
5.1.1 Water-borne
5.1.2 Solvent-borne
5.2 Resin Type
5.2.1 Acrylic
5.2.2 Alkyd
5.2.3 Polyurethane
5.2.4 Epoxy
5.2.5 Polyester
5.2.6 Other Resin Types
5.3 End-use sub segment
5.3.1 Commercial
5.3.2 Residential
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Thailand
5.4.1.6 Indonesia
5.4.1.7 Malaysia
5.4.1.8 Philippines
5.4.1.9 Singapore
5.4.1.10 Vietnam
5.4.1.11 Australia & Newzealand
5.4.1.12 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.2.4 Rest of North America
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 France
5.4.3.3 United Kingdom
5.4.3.4 Italy
5.4.3.5 Spain
5.4.3.6 Poland
5.4.3.7 Nordic Countries
5.4.3.8 Russia
5.4.3.9 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Stratergies Adopted by Leading players
6.4 Company Profiles
6.4.1 3 Trees
6.4.2 AkzoNobel N.V.
6.4.3 Asian paints
6.4.4 BASF SE
6.4.5 Benjamin Moore
6.4.6 Berger Paints India
6.4.7 Brillux GmbH & Co. KG
6.4.8 CIN, S.A.
6.4.9 Cloverdale Paint Inc.
6.4.10 DAW SE
6.4.11 Flugger group A S
6.4.12 Hempel A/S
6.4.13 Kansai Paint Co.,Ltd.
6.4.14 Masco Coporation
6.4.15 Nippon Paint
6.4.16 PPG
6.4.17 RPM International
6.4.18 Sniezka SA
6.4.19 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Architectural Coatings Market Research FAQs
What is the study period of this market?
The Architectural Coatings Market is studied from 2018 - 2028.
What is the growth rate of Architectural Coatings Market?
The Architectural Coatings Market is growing at a CAGR of >4% over the next 5 years.
What is Architectural Coatings Market size in 2018?
The Architectural Coatings Market is valued at 67 Billion USD in 2018.
Which region has highest growth rate in Architectural Coatings Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Architectural Coatings Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Architectural Coatings Market?
Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries, Nippon Paint Holdings Co., Ltd., Hemple are the major companies operating in Architectural Coatings Market.
Architectural Coatings Industry Report
Statistics for the 2023 Architectural Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Architectural Coatings analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Architectural Coatings Report Snapshots
