The global market for architectural coatings had a value of USD 65.78 billion in 2023. It is projected to reach USD 112.08 billion by 2032, with a compound annual growth rate (CAGR) of 6.1% during the forecast period. The market's growth is primarily driven by the expansion of the building and construction sector and the increasing demand for environmentally friendly and sustainable coatings.
Architectural coatings are following the trend in the building industry towards the adoption of eco-friendly goods and materials. There is a growing demand for coatings with low or zero volatile organic compounds (VOCs) as people become more conscious of the harmful effects of conventional coatings on the environment and human health. In addition to reducing the construction industry's carbon footprint, eco-friendly coatings offer several health benefits for occupants of these structures.
The demand for architectural coatings has risen in recent years due to the increased need for residential and commercial properties. Market revenue is boosted by the requirement for coatings that can withstand harsh weather conditions and have long-lasting durability. Furthermore, the rapid growth of the building sector, driven by urbanization and population growth, contributes to the expanding market.
Technological advancements in the production of architectural coatings have led to improvements in their qualities, including anti-corrosion, fire resistance, and self-cleaning capabilities. The increasing demand for these high-performance coatings across various industries such as healthcare, education, and hospitality is driving the market's growth.
The expansion of infrastructure and building sectors, particularly in emerging economies like China and India, also fuels the demand for architectural coatings. With the growing investment in infrastructure projects such as highways, bridges, and tunnels, there is a need for coatings that can withstand extreme weather conditions and provide long-term protection to these structures.
Government initiatives promoting green and sustainable building practices have a significant impact on market revenue. For example, the Leadership in Energy and Environmental Design (LEED) certification program by the U.S. Green Building Council encourages the use of sustainable materials, including architectural coatings, in construction projects. Similarly, the Green Rating for Integrated Habitat Assessment (GRIHA) program by the Indian Green Building Council promotes the use of environmentally friendly products, including architectural coatings, in the building sector.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/2120
Competitive Landscape:
Some of the major companies in the global architectural coating market include:
- Akzo Nobel N.V.
- BASF SE
- The Sherwin-Williams Company
- PPG Industries, Inc.
- Axalta Coating Systems LLC
- Nippon Paint Holdings Co., Ltd.
- Kansai Paint Co., Ltd.
- Asian Paints Ltd.
- RPM International Inc.
- Jotun A/S
Factors Driving the Architectural Coating Market
The architectural coating market is influenced by several key factors that contribute to its growth and expansion. These factors include:
- Rise in Building and Construction Sector: The market revenue of architectural coatings is driven by the overall growth of the building and construction industry. As the demand for residential and commercial properties increases, there is a higher need for coatings to protect and enhance the aesthetic appeal of buildings.
- Increasing Demand for Eco-Friendly and Sustainable Coatings: There is a growing awareness and preference for environmentally friendly coatings among consumers. The harmful effects of conventional coatings on the environment and human health have led to a rise in demand for low or zero VOC coatings. These coatings have minimal impact on air quality and provide healthier living and working environments.
- Demand for Weather-Resistant and Long-Lasting Coatings: The architectural coating market benefits from the need for coatings that can withstand harsh weather conditions and offer long-term durability. With the increasing occurrence of extreme weather events, there is a higher demand for coatings that provide protection against corrosion, fading, and other weather-related damages.
- Technological Advancements in Coating Properties: Technological advancements have resulted in coatings with improved qualities and performance. Coatings that offer benefits such as anti-corrosion properties, fire resistance, self-cleaning capabilities, and enhanced durability contribute to the market growth. These advanced coatings find applications across various end-use industries, including healthcare, education, and hospitality.
- Infrastructure and Construction Boom in Emerging Economies: Rising economies, such as China and India, are witnessing significant growth in infrastructure and construction projects. The demand for architectural coatings in these markets is driven by the need for protective coatings that can withstand extreme weather conditions and provide long-lasting protection to bridges, highways, and other infrastructure projects.
- Government Initiatives and Certifications: Government programs that promote green and sustainable building practices have a positive impact on the architectural coating market. Certifications such as Leadership in Energy and Environmental Design (LEED) and Green Rating for Integrated Habitat Assessment (GRIHA) encourage the use of environmentally friendly products, including architectural coatings, in construction projects. These initiatives drive the demand for sustainable coatings and contribute to market growth.
Overall, the architectural coating market is influenced by factors such as the growth of the building and construction sector, the increasing demand for eco-friendly coatings, the need for weather-resistant and durable coatings, technological advancements, infrastructure development, and government initiatives promoting sustainability.
To know more about the report, visit @ https://www.reportsanddata.com/report-detail/architectural-coatings-market
Segments covered in the report:
Segments covered by Application Outlook, End-use Industry, Regional Outlook
By Resin Type Outlook
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
By Technology Outlook
- Water-borne
- Solvent-borne
- Powder
- Others
By Application Outlook
- Residential
- Non-Residential
Regional Outlook
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/2120
Thank you for reading our report. For more inquiry or query on customization, kindly get in touch with us. Our team will ensure you get the best report suited to your needs.
Explore Trending Report:
https://investorsconnect.com/read-blog/43354
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyse consumer behaviour shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
