DUBLIN, Oct. 15, 2021 /PRNewswire/ — The «Architectural Coatings – Global Market Trajectory & Analytics» report has been added to ResearchAndMarkets.com’s offering.
Global Architectural Coatings Market to Reach $79.5 Billion by 2026
Global market for Architectural Coatings estimated at US$59.6 Billion in the year 2020, is projected to reach a revised size of US$79.5 Billion by 2026, growing at a CAGR of 4.9% over the analysis period.
Acrylic, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$50.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Alkyd segment is readjusted to a revised 4.8% CAGR for the next 7-year period.
This segment currently accounts for a 12.5% share of the global Architectural Coatings market. The rising use of acrylic resins for manufacturing architectural coatings of panels, windows, and exterior and interior walls is significantly driving the demand for these resins. Alkyd based coatings also enjoy strong demand and are expected to register fast-paced growth, due to their use in metal packaging and industrial wood applications. These coatings are employed in sealers, fillers, and caulks, owing to their flexibility with regards to formulation.
Demand in the global market is being fueled by the growing base of commercial buildings globally. Further, the rising use of coatings in the interiors of buildings is also aiding market growth. Renovation activity along with building & construction projects in commercial, industrial and residential sectors are creating strong demand for architectural coatings.
Architectural coatings demand will especially be on the rise in countries such as China and India, owing to fast-paced urbanization and the expanding construction sector. In recent years, there has been a migration to solvent-free coatings from high and low volatility organic solvents, due to the former`s lower emissions.
The strict regulations related to VOC emissions are anticipated to foster demand for eco-friendly coatings such as water-based coatings. In recent years, the demand for powder coatings is increasing due to their benefit of not having any liquid carrier and producing thicker coatings with no sagging. Powder coatings are free of solvents and release minimal amounts of VOC in the air.
The U.S. Market is Estimated at $12.4 Billion in 2021, While China is Forecast to Reach $17.3 Billion by 2026
The Architectural Coatings market in the U.S. is estimated at US$12.4 Billion in the year 2021. The country currently accounts for a 20.14% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$17.3 Billion in the year 2026 trailing a CAGR of 6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$18.4 Billion by the end of the analysis period.
Asia-Pacific region is the dominant market, led by China and India, on account of the existence of several leading companies in the region. With most manufacturers moving their production to Asia on account of relatively lesser labor costs, market growth is expected to be strong. North America is another key architectural coatings market, driven by rising renovations and building reconstructions.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- Slowdown in Construction Sector Projects Impacts Demand
- Pandemic Impact on the Paints and Coatings Industry
- COVID-19 Turns Attention to Homes, Bodes Well for Architectural Coatings Market
- Introduction to Paints and Coatings
- Architectural Coatings
- Raw Materials Used in Coatings
- Global Market Prospects & Outlook
- Key Growth Drivers
- Architectural Coatings Anticipated to Grow Despite Slowdown in Global Construction Industry
- Analysis by Resin Type
- Analysis by Technology
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 73 Featured)
- Asian Paints Limited
- AzkoNobel N.V.
- BASF SE
- Kansai Paints Co., Ltd.
- Masco Corporation
- Nippon Paint Holdings Co., Ltd.
- PPG Industries, Inc.
- RPM International Inc.
- The Jotun Group
- The Sherwin-Williams Company
- Valspar Corporation
3. MARKET TRENDS & DRIVERS
- Stringent Government Regulations Driving Demand for Eco-Friendly Architectural Coatings
- Building Renovations & Remodeling: Prominent Revenue Generating Vertical
- Green Panelized Housing Benefits from the ‘Go Green’ Trend
- Prevailing Trends in the Construction Industry Influence Market Uptake
- Contractors, Formulators and DIY Consumers Influence Uptake of Architectural Coatings
- Favorable Demographic & Macro Trends Strengthen Market Prospects
- Rapid Urbanization to Drive Demand Prospects
- Population Growth
- Burgeoning Middle Class Population
- Growing Opportunities in the Interior Decoration Vertical
- Architectural Coatings with Stain Resistance Feature Gain Traction
- Rising Demand for Faux Finish Coatings Augurs Well
- Evolving Use of Nanomaterials in Coatings Processing Augurs Well
- Nanoclay Seeks Role in Coating Formulations
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/vc3et1
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets