Market Trends of canada architectural coatings Industry
This section covers the major market trends shaping the Canada Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The growth rate of architectural coatings declined since 2016 before bouncing back in 2020 due to a huge sales increase in the DIY segment. The Canadian government designated paints and coatings as an essential service under Public Safety Canada, which helped maintain retail paint sales and ensured the resumption of paint manufacturing.
- The residential sector held a dominating share over the commercial sector due to the strong housing completion rates in the country. The demand in the residential segment was propelled by a drastic increase in the repaint demand in 2020.
- The commercial sector faced a huge decline in 2020 and recovered slightly in 2021 due to the increased investments in the latter half of 2021. The commercial segment's share is expected to recover gradually till 2023 before normalizing during the forecast period.
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