Market Trends of thailand architectural coatings Industry
This section covers the major market trends shaping the Thailand Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The growth rate of architectural coatings in Thailand has been observing decline in growth rates since 2016, the country observed the sharpest decline in total coatings consumption in 2020, as commercial sector declined. Though total growth registered in 2020 was not so drastic due to sales increase from the DIY segment, influenced by COVID enhanced home improvement activity.
- The regions residential sector held the highest share, which hoovers around 69%. This has enabled the total architectural paint and coatings consumption to witness a CAGR of -0.14% in the period 2016-2021, even as commercial sector observed drastic negative growth rate years in the said period.
- The commercial sector's share in the region of Singapore, is expected to decrease during the forecast period, as the region is largely an agrarian economy with reliance on imports. Hence housing or residential sector takes the center stage, the overall architectural paints and coatings market is expected to continue at CAGR of 0.85% between the period 2022-2028.
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