How Has the Architectural Coatings Market Evolved Historically and What is its Current Size?
The architectural coatings market has seen considerable growth due to a variety of factors.
•There has been considerable growth in the architectural coatings market size in the past few years. The market is expected to rise from $81.45 billion in 2024 to $85.95 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%.
The increase during the historical period can be credited to factors such as the boom in construction, trends in urbanization, regulatory adherence, raw material costs, and consumer tastes.
What is the Forecasted Market Size and CAGR for the Architectural Coatings Market?
The architectural coatings market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of architectural coatings is predicted to witness robust expansion in the approaching years. It is projected to reach "$109.54 billion by 2029 with a 6.3% compound annual growth rate (CAGR).
The surge during the forecast period can be credited to factors like increasing investments in infrastructure, elevated consumer knowledge, global financial patterns, health and safety issues, and innovative product formulations. Key trends during the forecast period encompass sustainability and eco-friendly initiatives, incorporation of cutting-edge technology, digital evolution in advertising, customization and individualization, and growing demand in developing markets.
What Are The Key Drivers Fueling Growth In The Architectural Coatings Market?
The architectural coatings market is set to experience robust growth, fueled by the swift expansion of the construction industry. The construction sector, encompassing all activities around the creation, repair, and upkeep of infrastructural facilities, heavily relies on architectural coatings. These coatings are typically used for various applications such as painting building exteriors and interiors. Moreover, architectural coatings play a pivotal role in creating the requisite air barriers for energy-efficient building enclosures. For instance, data from the UK-based Office for National Statistics (ONS) from August 2024 depicts an estimated 0.4% rise in monthly construction output, spurred by a 1.6% surge in new work. Similarly, the United States Census Bureau (USCB), a US government agency, reported that the US expended $1.83 billion on construction activities in 2022. Consequently, the accelerated growth in the construction sector is propelling the advancement of the architectural coatings market.
What Are The Principal Market Segments In The Global Architectural Coatings Industry?
The architectural coatings market covered in this report is segmented –
1) By Resin Type: Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, Urethane
2) By Technology: Solvent Borne, Water Borne
3) By Function: Ceramics, Inks, Lacquers, Paints, Powder Coatings, Primers, Sealers, Stains, Varnishes
4) By End User: Residential, Non-Residential
Subsegments:
1) By Acrylic: Water-Based Acrylic Coatings, Solvent-Based Acrylic Coatings, Emulsion Acrylic Coatings
2) By Alkyd: Oil-Based Alkyd Coatings, Water-Based Alkyd Coatings, High-Performance Alkyd Coatings
3) By Epoxy: Epoxy Primers, Epoxy Topcoats, Water-Based Epoxy Coatings
4) By Polyurethane: Water-Based Polyurethane Coatings, Solvent-Based Polyurethane Coatings, High-Performance Polyurethane Coatings
5) By Polyester: Thermosetting Polyester Coatings, Thermoplastic Polyester Coatings, Powder Polyester Coatings
6) By Urethane: Aliphatic Urethane Coatings, Aromatic Urethane Coatings, Urethane Adhesives And Sealants
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Which Emerging Market Trends Are Altering The Architectural Coatings Sector?
Product innovation is becoming a significant trend in the architectural coatings market as leading companies in the sector are developing novel products to maintain market standing. An example of this was seen in February 2023 when PPG Industries Inc, a paint and coating manufacturer from the United States, introduced PPG STEELGUARD 951. This innovative epoxy intumescent fire protection coating is designed to meet the modern needs of architectural steel with up to three hours of cellulosic fire protection. This coating is specific for the architectural field, offering fire protection. It also provides effective corrosion defense for highly corrosive environments up to ISO 12944 C5 without the necessity for a top coating. This reduces both project timelines and expenses while achieving the intended results.
Who Are the Key Players in the Architectural Coatings Market?
Major companies operating in the architectural coatings market include:
• Akzo Nobel N.V.
• Nippon Paint Holdings Co. Ltd.
• The Sherwin-Williams Company
• BASF SE
• PPG Industries Inc.
• RPM International Inc.
• Masco Corporation
• Kansai Paint Co. Ltd.
• Asian Paints Ltd.
• Jotun Group
• Axalta Coating Systems Ltd.
• 3trees Group
• Sumter Coatings Inc.
• Brillux GmbH & Co. KG
• J.W. Ostendorf GmbH & Co. KG
• Hempel A/S
• Berger Paints India Limited
• Tikkurila Oyj
• DAW SE
• Cromology SAS
• KCC Corporation
• Benjamin Moore & Co.
• SK Kaken Co. Ltd.
• The Valspar Corporation
• Diamond Vogel Inc.
• Dunn-Edwards Corporation
• Cloverdale Paint Inc.
• Kelly-Moore Paints
• BEHR Process Corporation
• Caparol Paints LLC
• H.B. Fuller Company
What are the Regional Insights into the Architectural Coatings Market?
Asia-Pacific was the largest region in the architectural coatings market in 2024. It is expected to be the fastest-growing region in the global architectural coatings market during the forecast period. The regions covered in the architectural coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
