Architectural Coatings Market More Driven By Customer Satisfaction Based On Durability

The global architectural coating market was valued at nearly US$ 58 Bn in 2017 and is expected to register a CAGR of 5.9%. The first five-year cumulative revenue (2017–2021) is projected to be over US$ 320 Bn, which is expected to increase rather moderately over the latter part of the five-year forecast period.

Architectural coatings are the paints and coatings used to coat buildings and homes. Most are designated for specific uses such as roof coatings, wall paints, or deck finishes. The right binder or additive in architectural coatings can put paint in a whole new category. Different architectural coating provides various decorative, durable, and protective functions. Restricting air exchange and heat transfer can increase energy efficiency, these can lead to increased volatiles trapped indoors. Intensity of this volatiles can be reduced with the help of functional paints.

Major factor driving growth of the global architectural coating market is increasing construction and reconstruction activities in residential and commercial sector and rising environmental concern along with growing preference for green coating and water based coating. In addition, increasing foreign direct investment and major players shifting their manufacture base to developing countries due to low taxes and lower production cost are other factors expected to boost growth of the global architectural coating market.

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Global Architectural Coating Market: Segmental Snapshot

The market report has been segmented on the basis of resin type, technology type, application and region. The resin type segment includes acrylic, alkyd, epoxy, polyurethane, polyester, and others. The technology type segment includes water based and solvent based. The application segment includes residential and non-residential. The regions/countries covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Resin Type: 

On the basis of resin type segmentation, the acrylic segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The acrylic segment is expected to witness highest CAGR of 6.2%, owing to wide spread applicability of acrylic resin in water reducible and emulsion resin which are used for manufacturing of coats and varnishes.

By Technology Type: 

On the basis of technology type segmentation, the water based segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The water based segment is expected to witness highest CAGR of 6%, owing to growing preference for water based coating among population and increasing demand for water based coating from various sectors including construction, furniture, automobile, and other industries.

By Application: 

On the basis of application segmentation, residential segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period. The residential segment is expected to witness highest CAGR of 5.9%, owing to increasing disposable income among general population in developing countries such as India and China.

By Region: 

Asia Pacific market is expected to dominate the global architectural coating market. Asia Pacific accounts for largest market revenue, as compared to that of market in other regions. Dominance by Asia Pacific market is expected to continue over the forecast period with comparatively higher CAGR among all the regional markets, owing to increasing partnerships between public and private organization for various projects in residential and non-residential sectors and major manufacturers shifting their manufacturing base to developing countries such as India and China due to low production cost.

Moreover, increasing foreign direct investment in countries such as India, China and Australia resulting in various construction activities in non-residential sectors and presence of prominent players operating in emerging economies in this region.

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Global Architectural Coating Market: Competitive Analysis

The research report on the global architectural coating market includes profiles of some of the major companies such as PPG Architectural Coatings, The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., BASF SE, Akzo Nobel N.V., Michelman, Inc., and IFS Industries, Inc.

Points Covered In Report:

– The market report gives a ahead looking prospect on distinct factors driving or prohibiting market growth.
– The market report includes main point study for changeable competitive dynamics
– The Report on gives the clear understanding of the main product segments and their future.
– It include a forecast(2019-2028) estimate on the basis of how the market is witnessed to grow
– It helps to take business people a decisive judgment by having complete in-depth of market.
– The market report offers complete analysis of competitive landscape and keeps you forward of competitors