Architectural coatings are the paints and coatings used to coat buildings and homes. Most are designated for specific uses such as roof coatings, wall paints, or deck finishes. The right binder or additive in architectural coatings can put paint in a whole new category. Different architectural coating provides various decorative, durable, and protective functions. Restricting air exchange and heat transfer can increase energy efficiency, these can lead to increased volatiles trapped indoors. Intensity of this volatiles can be reduced with the help of functional paints.
Global Architectural Coating Market Dynamics:
Major factor driving growth of the global architectural coating market is increasing construction and reconstruction activities in residential and commercial sector and rising environmental concern along with growing preference for green coating and water based coating. In addition, increasing foreign direct investment and major players shifting their manufacture base to developing countries due to low taxes and lower production cost are other factors expected to boost growth of the global Architectural Coating Market. Moreover, increasing government expenditure on upgradation of present infrastructure, rising public and private partnerships for various housing projects in countries such as India and China resulting in increasing number of construction activities for residential and non-residential purpose, thus boosting growth of the global architectural coating market.
Analysis By Segmentation:
Among type segments, the solvent based is expected to account for largest revenue share of US$ 28.3 Bn in 2017, and is expected to continue its dominance during the forecast period, while the water based segment is expected to register a lucrative CAGR in next ten years.
The architectural coating market in Asia Pacific is estimated to account for major revenue share of US$ 18.4 Bn in 2017, and is expected to register a lucrative CAGR in next ten years, owing to growing construction and reconstruction activities in countries in the region. The North America architectural coating market is expected to account for second-largest share in global market in terms of revenue.
Key Players operating in the global architectural coating market include PPG Architectural Coatings, The Sherwin-Williams Company, RPM International Inc., Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., BASF SE, Akzo Nobel N.V., Michelman, Inc., and IFS Industries, Inc.
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