Construction Coatings Market Size, Share, Competitive Landscape and Trend Analysis Report by Resin type, by Solution type and by End-use : Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact analysis

• COVID-19 has exposed many challenges for the paints & coatings market by impacting both architectural and industrial sector. Major economies of each region are affected due to pandemic and resulted in slowdown in activities across the industries that uses paints & coatings. Industries such as packaging will gain while others are expected to be negatively impacted . The market is expected to recover from 2021 onwards with industrial and transportation activities getting back on track and functioning with full capacities.
• The COVID-19 pandemic has greatly decreased customer demand for industrial coatings in recent months, thereby limiting the scale of the industrial coatings industry. The rural and semi-urban markets are healthy markets that will reduce the effects of the poor urban revenue. Urban consumers benefit from getting better painters than rural consumers while rural demand is expected to increase due to strong farm yields and surge in wages. For new projects, the market for decorative paints is expected to decrease due to safety issues, social alienation, and decreased real estate value.

Top Impacting Factors
The construction coatings market is tremendously fierce among large and global producers. Producers undertake constant product development activities based on rapidly shifting market needs and the governing environment. By setting up long-term relationships with their customers, producers try to make sure that they are equally driven and reactive to the various needs of the construction coating industry.
Market Trends

• Paints & coatings sold by companies such as Asian Paints, PPG Industries, Sherwin-Williams, Berger Paints, and AkzoNobel are marketed with a multi-year assurance against corrosion, chiefly as an outcome of upgradation in the performance of coatings. Moreover, producers are constantly launching new environment-friendly products in the market, to enhance performance. Therefore, the introduction of new technologies has enhanced the performance of coatings.
• There is more time required for drying and curing of waterborne coatings than that of the solvent borne coatings. Moreover, waterborne coatings have outstanding flow properties that interchange with humidity, affecting the coating enactment. During high humidity, water does take time to evaporate, resulting in poor cure and a decrease in performance. Waterborne coatings are also sensitive to freezing conditions. Many waterborne coatings are not usable after freezing.
• China is considered one of the largest countries, in terms of shipping and shipbuilding. The country has contributed continuously to the shipbuilding and pipeline industries in terms of powder coating. The powder coatings technology is continuously improving for the pipeline industry.

Key Benefits of the Report

• This study presents the analytical depiction of the construction coatings industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the construction coatings market share.
• The current market is quantitatively analyzed to highlight the construction coatings market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed construction coatings market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the construction coatings Report

• Who are the leading market players active in the construction coatings market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?