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The architectural coatings market is influenced by various factors that impact its growth and dynamics. One significant market factor is the construction industry's performance and trends. The demand for architectural coatings is closely tied to construction activities, including residential, commercial, and infrastructure projects. During periods of robust construction activity, such as economic expansions or urbanization trends, the demand for coatings typically rises as new buildings are constructed or existing structures are renovated or maintained. Conversely, downturns in construction activity can lead to reduced demand for architectural coatings as fewer projects are initiated or completed.
Architectural coatings are the paints and coatings that are used in coating buildings and homes. There are many features available because of using the Architectural Coatings Market. they are these coatings provide and prevent the layers from the corrosion and rusting of the metal parts of the tanks, radiators, fences and add the durability layer for both the interior and the exterior. This can be used in wall paintings, wood floorings and also in sculpture and furniture.
Another important market factor is the overall economic environment, including factors such as GDP growth, consumer confidence, and disposable income levels. Economic conditions influence consumer and business spending patterns, which in turn affect demand for architectural coatings. During periods of economic prosperity, consumers and businesses are more likely to invest in home improvements or commercial renovations, driving demand for coatings. Conversely, during economic downturns or recessions, consumers and businesses may postpone discretionary spending, leading to softer demand for coatings.
Regulatory factors also play a significant role in shaping the architectural coatings market. Government regulations, environmental policies, and health and safety standards can impact the types of coatings that are permitted for use, as well as manufacturing processes and product formulations. For example, regulations aimed at reducing volatile organic compound (VOC) emissions have led to the development of low-VOC or zero-VOC coatings, which are increasingly popular due to their environmental and health benefits. Compliance with regulatory requirements may necessitate changes in product formulations or production methods, influencing market dynamics and competitive landscape.
Technological advancements and innovation are driving forces in the architectural coatings market. Manufacturers are constantly developing new formulations, additives, and application technologies to improve coating performance, durability, and sustainability. Innovations such as self-cleaning coatings, antimicrobial coatings, and nanotechnology-based coatings are gaining traction due to their enhanced functionality and benefits. Additionally, advancements in digital printing technology are expanding the range of decorative and customizable coatings available to consumers, further driving market growth and differentiation.
Changing consumer preferences and trends also shape the architectural coatings market. Consumers are increasingly seeking coatings that offer not only aesthetic appeal but also durability, ease of application, and environmental sustainability. Demand for eco-friendly and non-toxic coatings is on the rise as consumers become more conscious of their environmental footprint and health considerations. Additionally, trends such as color preferences, design aesthetics, and architectural styles influence the types of coatings chosen for residential and commercial applications, driving innovation and product development in the market.
Competitive dynamics within the architectural coatings market are influenced by factors such as market consolidation, pricing strategies, brand reputation, and distribution channels. Large multinational corporations compete with smaller regional players and niche manufacturers, offering a diverse range of products to cater to different market segments and customer needs. Pricing competition, promotional activities, and marketing strategies also play a role in shaping market dynamics and influencing consumer purchasing decisions. Moreover, the distribution landscape is evolving with the growth of online retail channels and e-commerce platforms, providing consumers with greater accessibility and convenience in purchasing architectural coatings.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â 4.5% (2023-2030) |
Architectural Coatings Market Highlights:
Global Architectural Coatings Market Overview
The Architectural Coatings Market Size was valued at USD 83.7 Billion in 2023. The Architectural Coatings industry is projected to grow from USD 87.47 Billion in 2024 to USD 124.39 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). The Architectural Coatings Market is getting better because of the driving force of the development in the technology, advancement in the applications is the main driver for the Architectural Coatings Market Growth. There is also much important development that created the demand for the growth of the Architectural Coatings Market. They are increasing the investment in the infrastructure and growing awareness about green and environmentally friendly coatings.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Architectural Coatings Market Trends
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Growing overhaul and remaking practices in both residential and non-residential structures.
Many driving factors pave the way for the growth of the Architectural Coatings Market Size. In recent days due to the development in the construction sector, there are a huge number of commercial buildings which also adds growth to the Architectural Coatings Market Share. In addition to that this has created a demand not only for the paints but also for the coatings. Because of the knowledge about waterproof coatings, the demand has increased in recent days. The durability of the coatings, when compared to the painting, is high. This has also created growth in the Architectural Coatings Industry.
Additionally, the growth opportunity of the Architectural Coatings Industry is that awareness about green and environment-friendly products in recent times has become high. Due to this, there is an increase in growth opportunities. People are getting aware of the coating's benefits and its long-term durability are some of the opportunities which drive the growth of the Architectural Coatings Market Value. The use of waterproof coatings to avoid the metallic rust of the buildings also gains growth opportunities.
in 2024, AkzoNobel's Powder Coatings factory in Como, Italy, has completed a significant capacity expansion, ensuring supply to customers throughout Europe, the Middle East, and Africa. Following the €21 million renovation, four new manufacturing lines have become operational, two of which are dedicated to automotive primers and two to architectural coatings. New bonding equipment lines have also been installed to ensure that the products meet and surpass industry requirements.
August 2021 – PPG announced its latest offering in powder coating called PPG ENVIROCRON™ PCS P4, intended for use in architectural, home décor and furniture applications. The newest generation of powder coatings meets the increasing demand for these types of finishes from a broad range of applications, including aluminum and steel substrates for building constructions and urban or office furniture.
On June, 2021, PPG Industries bought out TIKKURILA – the leading Finnish Nordic paint and coating company. This is expected to increase sales of PPG Industries in Russia, Poland, Sweden, Finland and the Baltic states.
Architectural Coatings Market Segment Insights
Architectural Coatings Resin Type Insights
The Architectural Coatings market segmentation, based on Resin Type, includes Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, Urethane, and Others. The acrylic segment dominated the architectural coating market in 2020 and is expected to maintain its dominance during the forecast period, owing to an increase in demand for high-performance and safe coatings that has resulted in a higher overall demand for acrylic coatings.
Architectural Coatings Technology Insights
Based on Technology, the Architectural Coatings market segmentation includes Solvent Borne and Water Borne. The water-borne segment dominated the architectural coating market in 2020 and is expected to maintain its dominance during the forecast period, owing to the low emission of VOCs and its environmentally safe nature increasing the demand for water-borne coatings in the market.
Architectural Coatings End-use Industry Insights
Based on End-use Industry, the Architectural Coatings market segmentation includes Residential and Non-residential. The residential segment dominated the architectural coating market in terms of revenue, in 2020, owing to new technological advances such as nanostructured coatings, which provide new applications by providing antimicrobial, self-cleaning, and anti-corrosive properties that present major opportunities for market growth in the future.
Figure 2: Architectural Coatings Market, by Technology, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Architectural Coatings Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is the largest shareholding region with many developing countries in the constructional sectors. These countries are Japan, China, and India. This is the growth of the Asia Pacific because of the help of government organizations and also because of the interest of the people to beautify their interiors.
Figure 3: ARCHITECTURAL COATINGS MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The second place in the Architectural Coatings Market is for North America. This is because the consumer is aware of the benefits of using the coatings when compared to the paint. The main driving force of the North American market is the countries like the US, Mexico, and Canada. This is because of the people's interest in knowing the awareness about the industries.
The European region is expected to gain growth in the upcoming years. The European region had faced many losses in the past because of the scarcity of raw materials in Europe. So the key players are interested in extending their market value.
Architectural Coatings Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Architectural Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Architectural Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Architectural Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Architectural Coatings industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Architectural Coatings industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Architectural Coatings market players, including PPG Industries Inc, Akzo Nobel N.V., The Sherwin-Williams Company, Kansai paints corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Nippon Paint India has announced the debut of the best-in-class "INFINITY Automatic Tinting System" in 2023, which will provide endless colours and product options for India's fast developing Interior Furniture Coating industry. Nippon Paint's INFINITY Automatic Tinting System is a significant advancement in the field of interior furniture coatings. This technique, which combines Japanese cutting-edge technology with world-class materials, allows users to effortlessly create attractive finishes on furniture surfaces while saving time, eliminating waste, and ensuring endurance.
PPG Industries is a company that manufactures and distributes paints, coatings, and specialty materials. The company operates through two business segments: Performance Coating and Industrial Coating. It supplies coatings and specialty materials to customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment.
Also, AkzoNobel is a company that manufactures paints and coatings. It offers products such as decorative paints, automotive, specialty, marine, protective, yacht, industrial, and powder coatings. The company operates several brands, such as AkzoNobel, Alabastine, Alba, Apla, Cetol, Coral, Dulux, Flexa, Glitsa, Herbol, and Lesonal.
Key Companies in the Architectural Coatings market include
- PPG Industries Inc
- Akzo Nobel N.V
- The Sherwin-Williams Company
- Kansai paints corporation
- Asian paints limited
- Nippon paint holdings corporation private limited
- BASF SE
- Masco corporation
- Jotun group
- RPM International Inc
Architectural Coatings Industry Developments
Jan 2022, The US Department of Agriculture (USDA) has certified Arkema's SYNAQUA 4856 alkyd to carry the Certified Biobased Product designation. SYNAQUA 4856 alkyd is created from 97 percent bio-based raw materials derived mostly from NORDIC forest wastes and is devoid of APEO, ammonia, solvents, and plasticizers. SYNAQUA 4856 alkyd for architectural coatings is created from 97 percent bio-based raw materials, according to Arkema. Formulators can use SYNAQUA 4856 alkyd to obtain various desirable properties in their interior wall paint and primer formulas, such as gloss potential, chemical and scrub resistance, hardness development, and more.
Jan 2022, The Home Depot® and HD Supply® have expanded their partnership with PPG's architectural coatings business to offer a complete array of professional PPG paint products and services developed specifically for professional clients. The new product line will be available in all Home Depot stores in the United States starting in the fourth quarter of 2021. HD Supply, a wholly-owned holding of The Home Depot and a renowned national distributor of maintenance, repair, and operations (MRO) items, will also carry the whole product line.
October 2023, saw the launching of ACRONAL MB, a BASF line of acrylic binders portfolio for Architectural Coatings in North America. ACRONAL binders are known to deliver the same level of performance and quality. In this case, bio-feedstocks have been used instead of traditional fossil-based raw materials under the Biomass Balance approach by BASF, which is certified by REDcert2.
December 2023, DuPont announced that Coryor Surface Treatment Company Ltd. and Nippon Paint Taiwan are launching a new range of their printed Tedlar® PVF solutions as well as PVF coatings. Appearance can be preserved and prolonged for multiple decades using Tedlar®, an architectural application that lasts forever with respect to its aesthetic attributes.
Architectural Coatings Market Segmentation
Architectural Resin type Outlook
- Acrylic
- Alkyd
- Epoxy
- Polyurethane
- Polyester
- Urethane
- Others
Architectural Coatings Technology Outlook
- Solvent Borne
- Water Borne
Architectural Coatings End-use Industry Outlook
- Residential
- Non-residential
Architectural Coatings Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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