Construction Paints And Coatings Market Overview and Future Growth Forecast 2024 - 2031 | Akzo Nobel N.V., Asian Paints, Axalta Coating Systems

Market Overview:

The global building and construction plastics market is estimated to account for US$ 57,516.4 Mn in terms of value and 53,117.2 Kilo Tons in terms of volume by the end of 2019.

Market Dynamics:

Construction activities have picked up significantly post the pandemic, driving the demand for paints and coatings. Rapid urbanization has also fuelled residential and commercial construction projects globally. Additionally, innovations leading to the development of bio-based and eco-friendly paints have increased their popularity. However, fluctuating raw material prices remains a challenge for market players.

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Construction Paints And Coatings Market Drivers

Increasing Construction Activities Globally Are Driving The Demand For Construction Paints And Coatings

The construction industry across the globe has picked up pace significantly over the last few years owing to rapid urbanization, growing population, rising disposable incomes and improving economic conditions. Both residential and non-residential construction sectors are witnessing strong growth which in turn is stimulating the demand for various construction materials including paints and coatings. Construction paints and coatings play a vital role in protecting buildings from harsh weather, improving aesthetics and enhancing durability. With sustained infrastructure development and multitude of new construction projects in emerging nations, the requirement of construction paints and coatings is set to increase considerably over the coming years.

Construction Paints And Coatings Market Opportunity

Rising Demand for Green Construction Paints and Coatings Presents Lucrative Opportunities

With growing environmental consciousness and sustainability movement worldwide, there is burgeoning demand for green construction materials including eco-friendly paints and coatings. Green paints and coatings with low or zero VOCs help reduce air and odor pollution during application and post application. Moreover, they have lower risks to the health of applicators and occupants. The trend towards green buildings is working in favor of green construction paints and coatings manufacturers. Technology advancements are further helping replacement of toxic solvents with bio-based and plant-derived ingredients in newer product formulations. Considering environmental and health benefits, popularity of green construction paints and coatings is expected to surge significantly over the coming years thereby opening up major revenue opportunities for market participants.

Construction Paints And Coatings Market Trends

Increased Adoption of Powder Coatings in Construction Applications

Powder coatings refer to a dry paint that is applied as a free-flowing, powdery product similar to talcum powder. They are solid at room temperature and generally do not contain organic solvents. Powder coating technology is gaining immense acceptance in construction applications such as fencing, architectural trims and window frames owing to its superior performance and environmental friendly characteristics. Powder coatings result in an extremely durable and glossy finish and help reduce waste. Unlike traditional liquid paints, they do not require an extra primer coat for enhanced adhesion and corrosion resistance. Growing emphasis on environmental protection is favoring the increased adoption of low-waste and zero-VOC powder coatings in the construction industry. Hence, powder coatings segment is anticipated to witness high growth in the overall construction paints and coatings market over the forecast period.

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Top Companies Included in This Report:

• Akzo Nobel N.V.
• Asian Paints
• Axalta Coating Systems
• BASF SE
• Berger Paints India Limited
• Deutsche Amphibolin-Werke Von Robert Murjahn Stiftung & Company
• Diamond Vogel Paints
• Helios Group
• KCC Corporation
• Masco Corporation
• Nippon Paint
• PPG Industries Inc.

Market Segmentation:

Based on Product Type:

• By Product Type: High Solids/Radiation Cure, Powder Coatings, Waterborne Coatings, Solvent-borneCoatings, Others

Based on Applications:

• By Application: Automotive & Aviation, Medical & Healthcare, Residential, Commercial, Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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