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2022

Architectural Coatings Market

Architectural Coatings Market Size, Share, Competitive Landscape and Trend Analysis Report by Resin Type, Technology and End-use Industry and Function : Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Pratik Mandon| Bhagyashri Patil | Eswara Prasad
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The global architectural coating market was valued at $63.3 billion in 2020, and is projected to reach $107.9 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030.

Architectural coatings, also referred to as decorative coatings, are coating formulations used to coat buildings and homes. The term architectural coatings cover a wide range of different coatings such as varnishes, paints, primers, sealers, inks, ceramics, and several others. As they are applied on interior & exterior walls, floor, and ceilings of buildings, architectural coatings should be resistant to certain factors such as moisture, heat, changing weather, chemicals, and similar others. 

Architectural Coatings Market

The global architectural coatings market is driven by the construction boom, especially in the emerging economies of Asia-Pacific. In addition, change in consumer preferences and growth in awareness among people regarding the safety &VOC emissions from architectural coatings also drive the market. Apart from that, the shift from solvent borne to water borne coating formulations is anticipated to contribute to the growth of global architectural coatings market during the forecast period. However, stringent government regulations against the harmful VOCs emitted by certain architectural coatings may hinder the growth of market. The adoption of green coatings being developed is expected to create several growth opportunities for the market. These coatings comply with the norms of regulatory bodies regarding the safety and VOC emissions. During the COVID 19 pandemic, the architectural coatings industry was impacted by lack of subcontractors &raw materials, supply chain disruptions, partial or suspended production, and travel restrictions, all of which affect demand from the architectural, automotive, and aerospace sectors. On the other hand, increased demand from construction and general industrial sector is expected to drive demand for architectural coatings post COVID-19 pandemic. Moreover, expansion in application areas of nanocoating creates opportunities for growth.

The architectural coatings market is segmented based on resin type, technology, end-use industry, function, and region. By resin type, the market is segmented into acrylic, alkyd, epoxy, polyurethane, polyester, urethane, and others including PTFE & PVDF. According to technology, it is divided into solvent borne and water borne. On the basis of end-use industry, it is bifurcated into residential and non-residential. By function, the market segmentation includes ceramics, inks, lacquers, paints, powder coatings, primers, sealers, stains, and varnishes. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Comprehensive competitive analysis and profiles of major market players, such as PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Axalta Coatings, RPM International Inc., The Valspar Corporation, Midwest Industrial Coatings Inc., Sumter Coatings, and BASF SE, are considered in the report. 

Architectural Coating Market, by Resin Type

The acrylicsegment dominated the global architectural coating market in 2020, and is expected to maintain its dominance during the forecast period, owing to increase in demand for high performance and safe coatings that has resulted in a higher overall demand for acrylic coatings.

Architectural Coatings Market
By Resin Type
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Acrylicis projected as the most lucrative segment.

Architectural Coating Market, by Technology

The water borne segment dominated the global architectural coating market in 2020, and is expected to maintain its dominance during the forecast period, owing to low emission of VOCs and environmentally safe nature increase the demand for water borne coatings in the market.

Architectural Coatings Market
By Technology
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Water Borne is projected as the most lucrative market.

Architectural Coating Market, by Function

The ceramicssegment dominated the global architectural coating market in 2020, and is expected to maintain its dominance during the forecast period, owing to superior quality of coating and rapid urbanization.

Architectural Coatings Market
By Function
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Ceramics is projected as the most lucrative market.

Architectural Coating Market, by End-use Industry

The residentialsegment dominated the global architectural coating market in terms of revenue, in 2020, owing to new technological advances such as nanostructured coatings, which provide new applications by providing antimicrobial, self-cleaning, and anti-corrosive properties that present major opportunities for market growth in the future.

Architectural Coatings Market
By End Use
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Residential is projected as the most lucrative market.

Architectural Coating Market, by Region

Asia-Pacific accounted for the largest share of the architectural coating market in 2020. The Asia-Pacific market for architectural coating is expected to grow at the highest CAGR, in terms of both volume and value. Emerging economies such as China, India, and others, generate a very high demand for architectural coating owing to the construction boom in these economies.

Architectural Coatings Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific is projected as the most lucrative segment.

Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global architectural coating market along with the current trends and future estimations. 
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global architectural coating market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global architectural coating market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Architectural Coating Market

  • Owing to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
  • The companies are not earning any profit as a result of the work stoppage and not only the companies are losing money however they are also losing suppliers who are providing the required materials to various companies to be used in construction sector, all those suppliers are also facing huge losses.
  • Firms are not earning any profit as a result of the work stoppage, and not only are the companies losing money, however so are all of the suppliers that provide the needed supplies to various companies for use in the paint and coating sector.
  • Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce; thus, negatively impacting the production and construction processes.

Architectural Coatings Market Report Highlights

Aspects Details
Architectural Coatings Market By Resin Type
By Resin Type
  • Acrylic
  • Alkyd
  • Epoxy
  • Polyurethane
  • Polyester
  • Urethane
  • Others (PTFE & PVDF)
Architectural Coatings Market By Function
By Function
  • Ceramics
  • Inks
  • Lacquers
  • Paints
  • Powder Coatings
  • Primers
  • Sealers
  • Stains
  • Varnishes
Architectural Coatings Market By Technology
By Technology
  • Solvent Borne
  • Water Borne
Architectural Coatings Market By End-Use Industry
By End-Use Industry
  • Residential
  • Non-Residential
Architectural Coatings Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest Of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Rest of LAMEA)
Architectural Coatings Market By Key Market Players
By Key Market Players
  • PPG Industries
  • Asian Paints
  • Nippon Paints
  • The Sherwin-Williams Company
  • Axalta Coatings
  • RPM International Inc.
  • The Valspar Corporation
  • Midwest Industrial Coatings Inc.
  • Sumter Coatings
  • BASF SE

Analyst Review

The architectural coatings market dominates the overall coatings market and the demand is expected to increase in the future. Rise in the construction activities in Asia-Pacific drives the global architectural coatings market. Asia-Pacific has witnessed rapid growth of the construction industry in the last decade owing to increased attention toward repair and maintenance of infrastructure and historical buildings & monuments. Construction of new buildings as well as renovation of existing ones is expected to fuel the demand for architectural coatings during the forecast period.

The presence of toxic chemicals in coatings is expected to hinder the market growth during the forecast period. VOCs or volatile organic compounds, present in architectural coatings are generally considered harmful for the environment and are capable of causing several respiratory problems in humans. Stringent regulations exist on the use of toxic chemicals in paints and coatings such as glycols, ethanol, ammonia, acetone, biocides, formaldehyde, and several others. As per some studies, alkyd coatings are expected to contain more than 100 different VOCs. The emission of VOCs occurs mainly after the paint or coating has dried. An alternative to this is the use of powder coatings or green coatings that have been recently introduced and are being developed for use. Regulatory bodies such as EPA and REACH support the use of green coatings as a part of the green building construction activities and smart housing solutions.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

Author Name(s) : Pratik Mandon| Bhagyashri Patil | Eswara Prasad
Frequently Asked Questions?

Growing adoption of water borne coating formulations is expected to boost the architectural coating market growth.

The market value of global architectural coating market in 2021 is expected to be $66.3 billion and projected to rise to $107.9 billion in 2030.

The leading players in the market Akzo Nobel N.V., The Sherwin-Williams Company, BASF SE, Asian Paints Limited, PPG Industries, RPM International Inc, Kansai Paint Co. Ltd, Masco Corporation, Axalta Coatings and Dulux group Ltd.

The residential industry is projected to increase the demand for architectural coating market

The global architectural coating market is segmented on the basis of derivative resin type, function, technology, end use and region.

Flourishing construction industry is the main driver of architectural coating Market

Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.

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Architectural Coatings Market

Global Opportunity Analysis and Industry Forecast, 2021-2030