Architectural Coating Market - Key Growth Factors and Industry Analysis 2016-2024

Architectural coatings are paints and coatings used to coat buildings and homes. These coatings are used primarily in stationary structures and decorative interiors such as curbs, pavements, lawns, fields, wooden floors, furniture, paintings, and sculptures. Paints and coatings are not used merely for decorative purposes; they also help protect environment and enhance the functionality and durability of the materials used in making coatings.

Architectural coatings include paints, sealers, and specialty coatings. They form a protective and decorative layer on the architectural surface in indoor as well as outdoor applications. Architectural coatings can be applied to the surface using sprayers, rollers, and brushes. Powdered particles or liquid coatings can be changed into solid coatings by four types: cross- linking, evaporation, coalescence, and fusion bonding. Cross-linking is the process wherein polymers react together to form a linked network known as curing. Radiation-cured, moisture-cured, and multi component coatings depend on cross linking. Evaporation technique is generally used when there is low solid content and high organic solvent, then on application with substrate solvent evaporates, and leaves behind pure solid coating. Coalescence occurs mostly in latex based polymers. A polymer with below glass transition temperature is added with a coagulating agent to lower this property and leads to film formation. Fusion bonding commonly involves pure solid particles and powder coatings. In fusion bonding, a solid is coated on the substrate using electrolytic spray or fluidized bed, which is then heated to form a continuous film. Fusion Bonding is primarily used in thermoset coating, thermoplastic coatings, and moisture-cured coatings.

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Based on their function, the architectural coatings market can be segmented into ceramics, inks, lacquers, paints, powder coatings, primers, sealers, stains, and varnishes, while in terms of composition, the architectural coatings market can be divided into acrylic, alkyds, epoxy, and urethane. Introduction of acrylic emulsions, which are used as paint binders, is one of the major technology advancements in the architectural coating market. Architectural coating have new specifications such as coverage area, high resistivity, high dielectric strength, and long lifespan. Growing infrastructure activities and increase in demand for highly durable and high performance coating materials in construction activities are expected to drive the global architectural coating market. Architectural coatings primarily aim to prevent corrosion and rusting of metallic parts. Rise in environmental concerns and increase in health hazards have led to implementation of various regulations such as the National Volatile Organic Compound Emission Standards by the U.S. Environmental Protection Agency. Similarly, the European Commission has imposed REACH for VOC emissions. These regulations aim at protection human health as well as the environment. REACH also promotes new innovative methods for hazard assessment of substances that will reduced test on animals. Increase in safety concerns for fireproof and waterproof coatings on building materials is also driving the market for architectural coatings. Transportation is one of the major applications, which involves coatings of cars, buses, rails, and ships.

Asia Pacific is one of the key regions for the architectural coating market due to the large number of construction and commercial spaces, especially in China, India, and Japan. The architectural coating market in the region is expanding in commercial as well as residential segments. Increase in renovation and restoration activities are moderately driving the growth of the architectural coating market in North America and Europe. Technology advancements in architectural coating is expected to boost the market in these regions. Rest of the World accounts for small share of the global architectural coating market; however, the market in the region is anticipated to expand in the next few years.

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Major players operating in the architectural coating market are PPG Industries, Inc, RPM International Inc., The Valspar Corp., BASF Coatings, Nippon Paint Holdings Co., and Asian Paints Limited.

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