Architectural Coatings Market Size, Top Key Players Analysis to 2023- BASF Coatings GmbH, Kansai Paint Co. Ltd, Asian Paints Ltd

Market Overview:

The main application of architectural coatings are found in painting the houses and buildings. They exhibit excellent weather, moisture and chemical resistance and work to prevent deterioration caused by impact and environmental factors to maintain durability and aesthetics while greatly reducing maintenance costs and increasing the life of the finish. Properties such as these, are the major reason for their considerable preference for construction in both residential and non-residential applications.

A portion of the noticeable elements that emphatically impact the development of architectural coatings market are quick industrialization, expanding lodging for the extending masses, and consistent development of construction industry. Fast urbanization combined with expanding per capita discretionary cash flow in rising economies are anticipated to drive the development of the market amid the evaluation forecast period. Additionally, rising interest for inside decorative coatings and expanding interest in construction activities is further estimated to fuel the market development over the figure time frame.

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Major Key Players:

The Major Players operating in the Architectural Coatings Market are:

• BASF Coatings GmbH (Germany),
• PPG Industries Inc. (the U.S.),
• AkzoNobel N.V. (the Netherlands),
• Kelly-Moore Paint Company, Inc. (the U.S.),
• The Sherwin-William Company (the U.S.),
• The Valspar Corporation (the U.S.),
• Nippon Paint Co Ltd (Japan),
• RPM International Inc. (the U.S.),
• Kansai Paint Co., Ltd (Japan)
• Asian Paints Ltd (India)

Market Segmentation:

The Global Architectural Coatings Market is categorized on the basis of Type, Application, Technology, and Region:

On The Basis Of Type:
• Acrylic,
• Epoxy,
• Polyurethane,
• Polyester
On The Basis Of Applications:
• Residential
• Non-Residential
On The Basis Of Technology:
• Water Borne
• Solvent Borne
On The Basis Of Region:
• Asia Pacific,
• Europe,
• Latin America,
• North America,
• Middle East & Africa.

Regional Analysis:

Geographically, Architectural Coatings Market is segmented across Five Regions in the world namely:

• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.

The Asia Pacific economies are growing fast, boosting growth in demand for many building and industrial materials, including coatings. Rising population in emerging economies has boosted the growth of construction industry. China and India are the major countries boosting market demand for residential projects which is driving the market for paints & coatings in the region. Polyester coating is used in the construction industry and this market is anticipated to grow in the forecast period.

In North America, water-based technology continues to capture share in house paints owing to VOC regulations and increased “green” awareness among consumers as well as manufacturers. This is the major driver and it is anticipated that water based technology market is increasing in the forecast period. Additionally, acrylic coatings are used in the aviation industry. In contrast, European coatings are experiencing losses after the financial depression in 2008. There is a scarcity for raw materials in Europe which they have to import from other countries at higher prices. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of architectural coatings market in EU.

The Middle Eastern countries, have positioned themselves as tourism centered and started to build the proposed government funded construction projects. This factor will drive the architectural coatings market in the forecast period. After the 2009 recession crisis, Latin American countries are picking up the market trend slowly. As a consequence of the crisis, domestic prices continue to rise in this region. People will be looking for economic stability and also consumer spending will be least expected in the forecast period.

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