Exterior Architectural Coatings Market predicted to reach USD 48.44 billion by 2030 with a CAGR of 5.1%

The Global Exterior Architectural Coatings Market size is estimated to be USD 28.03 billion in 2019 and is predicted to reach USD 48.44 billion by 2030 with a CAGR of 5.1% from 2020-2030.

The exterior architectural coatings are applied to residential and commercial buildings to protect the surface and improve the appearance. The coatings protect a building from moisture, UV radiations, and microbes. Varnishes, stains, paints, lacquers, sealers, inks, ceramics, and primers are the general types of these coating. They are also called as decorative coatings. As they are applied on interior & exterior walls, ceilings, and floor of buildings. Moreover, architectural coatings should be resistant to certain factors such as heat, moisture, chemicals, extreme temperature, foreign particles and storms, changing weather, and others.

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Top Companies: BASF SE, PPG Industries, Inc., Nippon Paint Holdings Co., Ltd., Akzo Nobel N.V., Benjamin Moore & Co., DAW SE, Diamond Vogel, Dow Chemical Company, Axalta Coating Systems, Kansai Paint, Sherwin-Williams Company and others.

Market Dynamics and Trends:

The coatings are formulated using resins such as alkyds, acrylic, polyester, and polyurethane. Increasing number of construction projects is the major factor driving the market growth. Moreover, rising government spending, public-private partnerships, and foreign direct investments in developing economies including Indonesia, Malaysia, Thailand, India, China are the factors further boosting the growth of market in the upcoming years. Additionally, increasing urbanization, coupled with the rapid development and growing infrastructure requirement are anticipated to be a key factor bolstering the industry growth during the forecast period. Government support towards these coatings will boost their adoption in the years to come. Expanding application areas of nano coatings will also create opportunities for the market growth. However, the stringent environmental regulations and law implemented by government and private bodies for higher VOC levels can restrain the growth of market in the upcoming years.

Need for the high-quality materials with excellent efficiency levels have led to development of new pressing technologies. The manufacturers distribute their products through hardware stores, wholesale stores, and e-retailers. Easy availability and a wide variety of paints formulations are estimated to increase the popularity of these commodities in the coming years. Furthermore, increasing R&D investments by key industry players to develop eco-friendly products offering high-quality finishes will open new market avenues. Hence, the growth of market is characterized by numerous opportunities to market players, owing to rise in disposable income coupled with the rapid growth in the economy across the globe. However, fluctuation in the prices of raw materials such as pigments, titanium dioxide, and resins are projected to restrain growth over the forecast period.

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Market Segmentations and Scope of the Study:

The global Exterior Architectural Coatings market share is analyzed on the basis of resin type, technology, product, application, and geography. On the basis of resin type, the market is segmented into acrylic, epoxy, polyester, alkyd, and polyurethane. On the basis of technology, the market is segmented into solvent borne, and waterborne. Based on the product, the market is segmented into primer, emulsion, and enamel. According to the application, the Exterior Architectural Coatings market is classified into the residential [new, repaint] and non-residential [new, repaint]. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and Rest of the World.

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