Architectural Coatings Market size, share, industry analysis & forecast, 2016 - 2024

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Architectural Coatings Market size, share,
industry analysis forecast, 2016 - 2024
AkzoNobel, Valspar, Sherwin-Williams, and PPG are
the Leading Manufacturers
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Global Market Scenario of Architectural Coatings
Industry

• Global Architectural Coatings Market size is
  majorly driven by the developments in the
  construction industry and rising demand for
  exotic coatings.
• Increasing number of commercial buildings coming
  up throughout the globe will propel the market
  for architectural coatings. With the global shift
  towards Asia Pacific for commercial spaces, the
  architectural market size is forecasted to grow
  significantly from 2016 to 2024.
• Reconstruction spending coupled with dual income
  families is also driving the architectural
  coating market in the U.S. These products are
  also used in interior decoration such as wood
  flooring, wall painting, furniture and
  sculptures. With the enhancing financial and
  social status of the population of the developed
  as well as the emerging nations, the demand for
  architectural coatings is only likely to increase
  between 2016 and 2024.

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• Increase in environmental awareness has led to
  innovations to provide quality products in
  coating industry which are affordable, high
  quality, possess value added features and meet
  global trends. Also, growing safety standards
  will rise the demand for fireproof and waterproof
  coatings on buildings. This is shifting the
  global focus towards architectural coatings
  market.
• Transportation is a growing application area,
  which involves coatings for buses, cars,
  aircraft, rail and ship. They help in preserving
  the material from corrosion, rusting or other
  oxidation damage.
• Architectural coatings market can be segmented
  based on resin type, technology, and application.
  Major resin types include acrylic, epoxy and
  polyester. Acrylics have a fast drying property
  and find extensive use in the paints industry.
  Epoxy has a major application in the paints and
  coatings industry to provide the adhesive nature
  as well luster in the paints.

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Research Methodology
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Products Insights

• Architectural coatings market can be segmented
  based on resin type, technology, and application.
  Major resin types include acrylic, epoxy and
  polyester. Acrylics have a fast drying property
  and find extensive use in the paints industry.
  Epoxy has a major application in the paints and
  coatings industry to provide the adhesive nature
  as well luster in the paints. Asia Pacific
  accounted for over a third of the volume and
  revenue share of the worldwide demand for paints
  and varnishes in 2015. Construction industry
  accounts for almost half of the global
  consumption of paints and varnishes.
• Key technology segments include water based and
  solvent based and powder coatings. Water and
  solvent based paints varnishes accounts for the
  major chunk of the global share. However, powder
  coating is also finding application in household
  appliances, metal products, facade elements and
  computer casing and is estimated to gain share
  until 2024.

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Competitive Insights

• Asia Pacific architectural coatings market
  revenue was driven by investments from MNCs such
  as AkzoNobel, Valspar, Sherwin-Williams, and PPG.
  These companies have been observed to increase
  their product portfolios in countries of Asia
  Pacific as well as parts of Latin America, which
  is forecast to drive growth.

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