Press release
Architectural Coatings Market Expected To Exceed US$1.21 Billion By 2032
Global Architectural Coatings Industry Current Scenario and Future OutlookThe impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The Architectural Coatings industry suffered a huge setback due to halted production and a limited supply of raw materials.
With the vaccination process picking up pace in countries like China, India, the U.S., the U.K., and Germany, manufacturers are gradually heading towards the road to recovery with an improved supply chain and streamlined production activities.
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Infrastructure Expansion in the U.S. is Fueling Demand for Architectural Coatings
The Architectural Coatings chemical industry in the U.S. suffered a huge setback due to the coronavirus outbreak in 2022, halting operations in industries such as construction, automotive, and pharmaceutical.
However, with the gradual resumption of production activities and improvements in the supply chain globally, manufacturers operating in the Architectural Coatings chemical industry are gearing up to retain the industry's post-pandemic status.
Rising demand for Architectural Coatings dispersants from the construction and oil & gas industry is driving the Architectural Coatings chemical industry in the U.S. Architectural Coatings dispersants are widely used in the construction industry, and the anticipated growth is attributable to the wide expanse of real estate in the country.
Increasing housing infrastructure projects are propelling Architectural Coatings dispersant sales, thus augmenting the growth of the Architectural Coatings chemical industry. The presence of leading players in the country is also driving sales and export in the Architectural Coatings chemical industry.
Key Segments Covered
By Resin Type :
Acrylic Architectural Coatings
UV Curable Resins Architectural Coatings
Fluoropolymers Architectural Coatings
Urethane Architectural Coatings
Metallic Additive Architectural Coatings
Other Architectural Coatings (epoxy, polyalkyds and amines)
By Formulation Type :
Solvent Borne Architectural Coatings
Water Borne Architectural Coatings
By Application :
Architectural Coatings for Residential Applications
Architectural Coatings Non Residential Applications
U.K is Capitalizing on Architectural Coatings Binders for Sustainable Construction Activities
The U.K. has been at the forefront in terms of technological advancements and the adoption of sustainable technology in production globally, which is a key factor augmenting the growth of the Architectural Coatings chemical industry.
In 2022, the country suffered huge setbacks due to the adverse effects caused by the COVID-19 pandemic. However, manufacturers operating in the Architectural Coatings chemical industry are striving to achieve the pre-pandemic status by opting for various Architectural Coatings and inArchitectural Coatings growth strategies.
In the U.K, the growth of the Architectural Coatings industry can be attributed to the surging demand for Architectural Coatings binders. The environment-friendly nature, low energy consumption, and cost-effectiveness offered by Architectural Coatings binders are key factors leading the sales and demand.
Growing urbanization and rapid increments in infrastructure activities across the country are fueling the demand for Architectural Coatings binders, thus creating lucrative opportunities for several players operating in the Architectural Coatings chemical industry in the upcoming decade.
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China is Incorporating Architectural Coatings Pigments in Textiles and Visual Arts
The global hub for the Architectural Coatings chemical industry, China, is picking up pace in its post-covid recovery, due to the timely eradication of the virus. With little to no restrictions, most production-related activities have resumed across the country, acting as anchors for various local and global manufacturers.
China is a lucrative ground for the Architectural Coatings industry due to the presence of leading manufacturers and several industries such as textile, pharmaceutical, plastic, and paint. Due to the abundance of these industries, the demand for Architectural Coatings pigments is also gaining immense traction in China.
Architectural Coatings pigments are non-toxic, cost-effective, and offer good color strength, making them a favorable choice for usage in various end-use sectors. Increasing the use of Architectural Coatings pigments in plastics, textiles, paints, and coatings will continue driving the growth in the Architectural Coatings industry.
Additionally, the wide range of unique shades available in Architectural Coatings pigments makes them a preferred choice for visual arts as well. The consumption of Architectural Coatings pigments in high-tech applications such as photo-reprographics, optoelectronic displays, and optical data storage are fueling the demand for Architectural Coatings pigments and creating lucrative opportunities for players operating in the Architectural Coatings industry.
Competitive Landscape
The leading players in the market are focusing on global expansion with new product launches, acquisitions, and opening new facilities in various countries.
PPG Industries Inc., one of the top 6 players with focus on acquisition and enhancing distribution capabilities has acquired ProCoatings, architectural coatings and paint wholesaler in The Netherlands. Moreover, the company is also developing new distribution center for architectural paint and coatings in Texas.
Another major player, Sherwin Williams has introduced Minwax performance series with redesigned color palette and interior stain design center.
Meanwhile, Axalta has also opened world's largest coatings research and development center in Philadelphia.
India Will Showcase High Demand for Speciality Architectural Coatings
India is emerging as a lucrative market for the Architectural Coatings chemical industries for players across the world. With gradual resumptions in the restrictions on movement, the country is slowly getting back on track to achieve post-pandemic status in the coming years.
The Architectural Coatings industry in India is capitalizing on various sectors such as paints, pharmaceuticals, adhesives, pesticides, and dyes, making it one of the most important industries in the country.
Leading players operating in the Architectural Coatings industry are focusing on enhancing their product portfolio by adding specialty chemicals such as polymer additives, water treatment chemicals, and lubricating additives, which will further drive growth and sales in the industry in the upcoming decade.
The newly discovered natural gas reserves in the country will also enable manufacturers to procure diverse Architectural Coatings and will continue augmenting the growth of the Architectural Coatings chemical industry.
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Key Long-Term Trends
The global Architectural Coatings industry is gradually recovering in 2021 and is expected to gain momentum in the upcoming years. With a noteworthy surge in activities in industries such as infrastructure, construction, pharmaceutical, and oil & gas, the Architectural Coatings industry will show an upward trend in the coming years. Some new trends that are augmenting the market growth are:
Chemoinformatic
The Architectural Coatings industry will largely benefit from chemoinformatic due to various factors such as the ease of evaluating specific properties of large compounds. The use of computational and informational techniques will help manufacturers gain insights into the new and existing chemicals and how to incorporate them into Architectural Coatings chemical products.
Key Question Answered in Architectural Coatings Market Report Survey:
Sales and Demand for Architectural Coatings
Architectural Coatings Market Growth
Architectural Coatings Market Analysis
Architectural Coatings Market Outlook
Key Drivers Affecting The Architectural Coatings Market
Which are the key factors affected by the Architectural Coatings market?
Constraints Shaping Market Growth
Market study of architectural coatings
For More Insights- https://www.prnewswire.com/news-releases/global-sprockets-market-growth-banking-on-a-post-pandemic-automotive-and-construction-industry-recovery-factmr-study-301264144.html
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