Exterior Paint Market: Major Trends Reshaping the Future of the Industry

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What Will the Exterior Paint Industry Market Size Be by 2025?
The market for exterior paint has seen substantial expansion in recent times. The sector, which was valued at $14.78 billion in 2024, will soar to $16.27 billion in 2025, marking a compound annual growth rate (CAGR) of 10.1%. The rise in the past can be traced back to factors such as environmental laws, a transition in architectural trends and design choices, increased consciousness about eco-friendly products, fierce rivalry amongst paint producers, and a heightened focus on visual appeal.

What's the Long-Term Growth Forecast for the Exterior Paint Market Size Through 2029?
The market size for exterior paint is anticipated to experience substantial growth in the upcoming years, reaching a value of $23.65 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.8%. This surge within the projected period can be attributed to factors like an increase in construction tasks, growth in renovation and remodeling tasks, a broadening of distribution channels, rising demand for high-performing coatings, and changes in consumer color preferences. Key trends predicted for this period include sustainable paint formulations, advancements in nanotechnology, combining smart coatings with functional additives, offering personalized exterior painting solutions, and utilization of digital technology.

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What Are the Key Growth Drivers Fueling the Exterior Paint Market Expansion?
The uptick in infrastructure spending is anticipated to boost the exterior paint market's expansion in the future. Infrastructure encompasses essential physical and organizational assets and facilities needed for a society or enterprise to function, including transportation, communication, utilities, and public services. The increase in urban populations, the rising frequency and severity of climate-related incidents, global connectivity, and commerce are factors contributing to the growth of infrastructure investment. Exterior paint plays a crucial role in infrastructure growth by providing protection, preservation, and aesthetic improvements to various structures and facilities. As an example, the World Bank, a US-based international financial institution, reported in April 2024 that private participation in infrastructure (PPI) commitments shot up to $91.7 billion across 263 projects, marking a 23% increase from 2021. Consequently, the boom in infrastructure investments is fueling the expansion of the exterior paint market.

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What Are the Key Trends Driving Exterior Paint Market Growth?
Leading entities in the exterior paint sector are concentrating on the creation of innovative technology-driven products, like those based on water-beading technology, to maintain their market dominance. Paints based on water-beading technology are distinctive paints that use pioneering technology to ward off water and moisture from the paint-covered surface. For instance, the Valspar Corporation, an American paint production company, introduced Valspar Defense, a novel line of exterior paint and primer, in March 2022. This product offers robust protection using top-tier water-beading technology that effectively resists water throughout the year to avoid any moisture damage. Furthermore, Valspar Defense Exterior Paint & Primer isn't limited to its superior water-repelling traits, it also provides exceptional protection against fading, cracking, and peeling. Additionally, it offers top-quality coverage, capable of hiding existing stains with just a single coat, and is prepared for rain within an hour.

How Is the Exterior Paint Market Segmented?
The exterior paint market covered in this report is segmented -

1) By Type: Silicone, Epoxy, Acrylic, Polyurethane, Other Types
2) By Product Type: Water-Based Paints, Solvent-Based Paints, Other Products Types
3) By Applications: Residential Buildings, Commercial Buildings, Industrial Buildings, Other Applications

Subsegments:
1) By Silicone: Acrylic-Silicone Hybrid Paints, Pure Silicone-Based Paints
2) By Epoxy: Water-Based Epoxy Paint, Solvent-Based Epoxy Paint
3) By Acrylic: Pure Acrylic Paint, Acrylic Latex Paint, Acrylic-Resin Modified Paint
4) By Polyurethane: Aliphatic Polyurethane Paint, Aromatic Polyurethane Paint
5) By Other Types: Alkyd Paint, Chlorinated Rubber Paint, Bituminous Paint, Zinc-Rich Paint, Eco-Friendly Or Low VOC Exterior Paint

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Which Companies Are Leading the Charge in Exterior Paint Market Innovation?
Major companies operating in the exterior paint market are BASF SE, Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., Masco Corporation, RPM International Inc., Axalta Coating Systems Ltd., Diamond Vogel Paints, Asian Paints Limited, Valspar Corporation, H.B. Fuller Company, Kansai Paint Co. Ltd., Hempel A/S, Jotun Group, DAW SE, Tikkurila Oyj, Berger Paints India Limited, Benjamin Moore & Co., Rust-Oleum Corporation, Dunn-Edwards Corporation, Cromology, TOA Group, Farrow & Ball Limited

Which Regions Are Leading the Global Exterior Paint Market in Revenue?
Asia-Pacific was the largest region in the exterior paint market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the exterior paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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