Architectural Coatings Market is Forecast to Reach US$ 95 Billion in 2028, Says Stratview Research

The Architectural Coatings Market is likely to rise at a CAGR of 2.6% during 2023-2028, to reach US$ 95 billion in 2028, states Stratview Research.

DETROIT, Mich., Sept. 20, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Architectural Coatings Market which provides a comprehensive analysis of the global and regional industry forecast, current and emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on the Architectural Coatings Market

The Architectural Coatings Market is segmented based on Resin Type, Application Type, Technology Type, End-User type, User Type, and Region.

Based on Resin Type- The market is bifurcated into Acrylics, Polyurethanes, Epoxy, Polyester, and Others. Acrylics remain the biggest demand generator for architectural coatings in the foreseen future. The key factor driving the acrylic segment dominance is the greater need for safe, high-performance coatings, which has increased the demand for acrylic coatings overall. Furthermore, a paradigm shift from solvent-borne to water-borne assures a gargantuan demand for architectural coatings in the years to come.

Based on the Technology Type- The market is segmented as Water-Borne, Solvent-Borne, and Powder. Water-Borne remains at the nucleus for all the leading market stakeholders serving the architectural coatings market as the demand for water-borne coatings has increased due to its low VOC emission and environmentally safe nature. It is also anticipated that water-borne will remain the most preferred technology type in the market in the foreseeable future.

Based on the End-User Type- The market is segmented as Residential and Commercial. Residential remains the largest segment of the architectural coatings market. Recent technical developments like nanostructured coatings offer new applications by delivering antibacterial, self-cleaning, and anti-corrosive qualities that present significant market potential opportunities in the future. It is also anticipated that Residential will remain the most preferred end user in the market in the foreseen future.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Asia-Pacific is expected to remain the largest market for architectural coatings over the forecast period. In addition to that, the region is likely to witness healthy market growth in the coming years. This growth is majorly attributed to the following –

-  The growing population and developing economy are the main drivers of the APAC Architectural Coatings industry.
-  During the projection period, China and India's residential and commercial sectors are both anticipated to grow, which would in turn fuel this region's need for architectural coatings.

Architectural Coatings Market Drivers

Some of the key drivers listed in the report are given below.

-  The infrastructure growth, particularly in the developing nations of Asia-Pacific, is what is driving the market for architectural coatings globally.
-  The market is also influenced by shifting consumer interests and an increase in public knowledge of the concerns of Volatile organic compounds (VOC) emissions from architectural coatings.

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Top Companies in the Architectural Coatings Market?

The market is highly fragmented with the presence of several local, regional, and global players. Most of the major players compete in price, product depth, geographical presence, etc. The following are some of the key players in the architectural coatings market:

-  Asian Paints
-  AkzoNobel N.V.
-  Nippon Paint Holdings Co. Ltd.
-  BASF SE
-  Jotun
-  Kansai Paint Co., Ltd.
-  Masco Corporation
-  PPG Industries, Inc.
-  The Sherwin-Williams Company

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Traffic Marking Coatings Market
• Waterproofing Coatings Market

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