Title: Architectural Coatings Market size, share, industry analysis & forecast, 2016 - 2024
1Architectural Coatings Market size, share,
industry analysis forecast, 2016 - 2024
AkzoNobel, Valspar, Sherwin-Williams, and PPG are
the Leading Manufacturers
2Global 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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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.
6Competitive 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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