The market has been estimated at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of XX.XX% during the forecast period. Architectural coatings are coatings which are majorly used to coat interiors and exteriors of homes and building structures. They are further applied on floors, roofs, pavements, walkways, and decks. The architectural coatings provide aesthetic colors and texture options, thereby making it attractive and durable at the same time. They also provide color retention and green coatings provide self-cleaning properties, which gives them resistance to chalking and fading when exposed to bright sunlight.
Architectural coatings, owing to their corrosion and temperature resistance, increased durability on end products, and low fire-hazards risks properties are becoming an integral part of various commercial and industrial sectors. In the architectural coatings market report, the following major end-use application sectors were taken into consideration: interior and exterior. These applications are further segmented into residential and non-residential. The residential segment is the fastest growing segment in the market and it accounted for more than XX.XX% share of the Asia-Pacific architectural coatings market in 2015.
Market Dynamics of the Asia-Pacific Architectural Coatings Market:
According to the technology used in the production, the market has been segmented into water-borne and powder coatings. Waterborne coatings are further segmented into water-soluble paints, colloidal paints, emulsions/latex coatings, and water-based alkyd coatings; while the powder coatings segment is further divided into thermosetting powder coatings and thermoplastic powder coatings. The market is also segmented based on the type of coatings into ceilings, bridges, walls, tunnels, walkways, basements, floors, and roofs.
The market has also been geographically segmented into Asia-Pacific region by countries such as China, India, Japan, South Korea, ASEAN countries and the rest of Asia-Pacific. In terms of growth in 2015, China led the market growing at a CAGR of XX.XX%. With the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is accelerating the demand for infrastructure, in turn making these countries an area of immense potential and opportunities. However, the lack of product focus in these developing countries has considerably hindered the growth of this market.
Furthermore, the development of bio-based products and the rising disposable income of people will offer numerous opportunities for the growth of the global architectural coatings market. Some of the major companies dominating this market for its products, services, and continuous product developments are:
Key Deliverables in the Study