Market Trends of nordic countries architectural coatings Industry
This section covers the major market trends shaping the Nordic Countries Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- In NORDIC countries, architectural paint consumption during 2016-2019 increased by a CAGR of . A major rise was observed in 2016 and 2017 due to the increase in investment in both the new residential and commercial construction sectors in all NORDIC countries.
- The slow growth in the architectural coating consumption in 2020 due to the spread of COVID-19 was followed by the recovering growth in construction in 2021. The DIY segment was continuously fueling the demand for paints and coatings in 2020 and 2021, especially from the residential sector.
- The increase in consumption is expected to continue till 2023 before normalizing from 2023 to 2028 due to positive growth prospects in both the residential and commercial sectors in Sweden, Norway, and Finland.
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