Global Architectural Coatings Market Insights Forecasts to 2032

• The Architectural Coatings Market Size was valued at USD 65.5 Billion in 2022.
• The Market Size is Growing at a CAGR of 6.7% from 2022 to 2032
• The Worldwide Architectural Coatings Market Size is expected to reach USD 108.6 Billion by 2032.
• Europe is expected To Grow the fastest during the forecast period

The Global Architectural Coatings Market Size is expected to reach USD 108.6 Billion by 2032, at a CAGR of 6.7% during the forecast period 2022 to 2032.

Architectural coatings are coating formulas that are applied to homes and structures. They are also known as decorative coatings. Architectural coatings refers to a broad range of coatings, including, primers, inks, sealants, ceramics, and other paints. Architectural coatings need to be resistant to a variety of substances because they are used on interior and exterior walls, floors, and ceilings of structures. These substances include heat, moisture, change in the weather, chemicals, and others.

Impact of COVID 19 On Global Architectural Coatings Market

Lack of subcontractors and raw materials, supply chain problems, partially or halted production, and travel restrictions all had an influence on the demand from the architectural, automotive, as well as aerospace sectors over the COVID 19 pandemic. However, after the COVID-19 pandemic, demand for architectural coatings is anticipated to rise because to increased demand from the construction and general industrial sectors. Growth prospects are also created by the increase of nanocoating's application fields.

Key Market Drivers

The development boom, particularly in the developing nations of Asia-Pacific, is what is driving the market for architectural coatings across the world. The market is also driven by the change in the tastes of the consumers and increasing awareness among the public of the dangers of VOC emissions from architectural coatings. In addition, it is predicted that during the forecast period, the switch from solvent-borne to water-borne coating formulations would support the expansion of the worldwide architectural coatings market. The fast growth in the construction industry, urbanization, and industrialization is anticipated to offer various growth opportunities for the architectural coatings market. The rising awareness related to the coating materials as well as the benefits related to its application is anticipated to boost the demand of the product. The use of green coatings is anticipated to get popularity which may be beneficial for the global architectural coating segment over the forecast period.

Market Segmentation

Resin Type Insights

Acrylics segment holds the largest market share over the forecast period

On the basis of resin type, the global architectural coatings market is segmented into acrylics, alkyds, epoxy, urethanes, vinyl, and others. Among these, acrylics segment holds the largest market share over the forecast period. The growth is attributed to the strong polymeric structure and its ability in irradiating UV rays. Apart from this, the acrylics can retain colour vibrancy as well as gloss. Not only this but it also helps in improving the durability of the substrate and offer protection from external factors.

Epoxy segment, on the other hand is estimated to witness the fastest market growth over the forecast period. The growth is attributed to the increasing usage of epoxy in paints and coatings. Moreover, the rise in the demand of epoxy architectural coatings in residential sectors like new construction as well as renovation activities. In addition, the increasing demand in the industrial application is going to propel the demand of epoxy coatings over the forecast period.

Technology Insights

Solvent based coatings segment is dominating the market over the forecast period

On the basis of technology, the global architectural coatings market is segmented into water borne, powder, and solvent borne. Among these, solvent based coatings segment is dominating the market with the largest market share over the forecast period. Solvent based coatings are very resistant to extreme environment and they have various types of applications across both residential as well as non residential sectors. On the other hand the shelf life of solvent based coatings is higher and the VOCs that are used to manufacture coatings is going to hamper the growth of the market.

Regional Insights

Asia Pacific is dominating the market with the largest market share over the forecast period

Asia Pacific is dominating the global Architectural Coatings market over the forecast period. Due to government initiatives like revoking filing and requiring testing of imported paint and coatings beginning in March 2022, consumption and sales are anticipated to increase during the anticipated period. This increases the coating companies' confidence in the nation's architectural coating market. About more than half of the architectural coatings used during this time were acrylic coatings. Architectural coating manufacturers are required to lower the VOC level of their coatings and sell them as a safe product as a result of Chinese government requirements, which are a significant driver of the adoption of low VOC architectural coatings.

Recent Market Developments

• In March 2022, AkzoNobel has opened its global R&D centre in the United Kingdom which helps the organization to make advancement innovation capacities in the decorative paints areas.

• In June 2021, PPG Industries has made acquisitions of TIKKURILA which is reputed Nordik paint and coating company based in Finland. The expansion of the industry will help in increasing the sales of its products in Finland, Poland, Russia, Sweden, and Baltic states.

List of Key Companies

• NIPSEA Group
• BASF SE
• Asian Paints Limited
• Axalta Coating Systems, LLC
• Brillux GmbH & Co. KG
• Colorado Commercial & Residential Painting
• IFS Coatings
• Kansai Paint Co., Ltd.
• KEIM Mineral Coatings of America, Inc.
• Kelly-Moore Paints
• Masco Corporation
• RPM International Inc.
• Akzo Nobel N.V.
• PPG Industries, Inc.
• The Sherwin-Williams Company

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Architectural Coatings Market based on the below-mentioned segments:

Architectural Coatings Market, Resin Type Analysis

• Acrylics
• Alkyds
• Epoxy
• Urethanes
• Vinyl
• Others

Architectural Coatings Market, Technology Analysis

• Water borne
• Solvent borne
• Powder

Architectural Coatings Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa