Architectural Coatings Market Value To Cross USD 107.9 Billion By 2030

According to the report published by Allied Market Research, the global architectural coatings market generated $63.3 billion in 2020, and is estimated to generate $107.9 billion by 2030, witnessing a CAGR of 5.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.

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Flourishing construction industry and rise in adoption of powder coatings and water-borne coating formulations drive the growth of the global architectural coatings market. However, high cost of production and strict regulations on the emission of VOCs and other toxic chemicals hamper the market growth. On the contrary, increase in development of bio-based architectural coatings to offer lucrative opportunities in the coming years.

Key Findings Of The Study
On the basis of resin type, the acrylic segment emerged as the global leader by acquiring more than 23.6%of the market share in 2020.
On the basis of function, the ceramics segment emerged as the global leader by acquiring more than 18.3% of the market share in 2020.
On the basis of technology, the water borne segment emerged as the global leader by acquiring more than 73.9% of the market share in 2020.
On the basis of end-use industry, the residential segment emerged as the global leader by acquiring more than 64.9% of the market share in 2020.
On the basis of region, Asia-Pacific is the major consumer of architectural coating among other regions. It accounted for around 41.3% of the global market share in 2020.

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The report offers detailed segmentation of the global architectural coatings market based on resin type, technology, end user industry, function, and region.

Based on resin type, the acrylic segment held the highest market share in 2020, accounting for nearly one-fourth of the total share, and is projected to maintain its leadership status during the forecast period. However, the alkyd segment is estimated to grow at the fastest CAGR of 7.9% from 2021 to 2030.

Based on technology, the water borne segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global architectural coatings market, and is expected to maintain its lead position during the forecast period. Moreover, the same segment is projected to portray the highest CAGR of 6.2% from 2021 to 2030.

Based on region, Asia-Pacificcontributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is expected to continue its dominant share in terms of revenue by 2030. Moreover, this region is projected to manifest the largest CAGR of 6.1% during the forecast period.

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Leading players of the global architectural coatings market discussed in the research include Asian Paints, PPG Industries, Nippon Paints, Axalta Coatings, The Sherwin-Williams Company, RPM International Inc., Midwest Industrial Coatings Inc., The Valspar Corporation, BASF SE, and Sumter Coatings.

For More Details: https://www.globenewswire.com/en/news-release/2022/06/06/2456638/0/en/Architectural-Coatings-Market-Size-to-Reach-107-9-Billion-by-2030-CAGR-5-6-AMR.html

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