Global Construction Paints And Coatings Market Size 2024, Forecast To 2033
6 Mar, 2024
The construction paints and coatings market has exhibited robust growth, increasing from $57.56 billion in 2023 to $60.57 billion in 2024, with a CAGR of 5.2% during the historic period. This growth is attributed to factors such as the upswing in construction activities, ongoing urbanization trends, regulatory compliance requirements, economic stability, and fluctuations in raw material costs. Looking ahead to 2028, the market is expected to maintain strong growth, reaching $75.39 billion at a CAGR of 5.6%. Anticipated drivers for this growth include global recovery post-pandemic, a heightened focus on sustainability, increased infrastructure investments, demand in both residential and commercial real estate, and challenges in the supply chain. Major trends in the forecast period encompass the development of smart coatings and nanotechnology, increased digitalization in construction, technological advancements and digital transformation, and a notable rise in research and development efforts for performance enhancements in paints and coatings.
Global Construction Paints And Coatings Market Key Driver
The construction paints and coatings market is poised for growth, driven by the increasing number of new construction projects worldwide. Construction projects encompass various activities involved in building and maintaining structures, where paints and coatings play a crucial role in preventing water penetration, corrosion, rotting, and deterioration. As of March 2023, Zippia reported a significant uptick in new construction projects, with 1.4 million projects completed in January 2023 alone, marking a notable 12.8% increase compared to January 2022 figures. This surge in new construction projects underscores the growing demand for construction paints and coatings, with market size projections reflecting this trend in 2023, 2024, and 2028.
Get A Free Sample Of The Global Construction Paints And Coatings Market ReportGlobal Construction Paints And Coatings Market Segments
The construction paints and coatings market covered in this report is segmented –
1) By Product Type: Solvent-Borne Technologies, Water-Borne Coating, Power Coating, High Solids/ Radiation Cure, Other Product Types
2) By Resin Type: Polyurethane, Acrylic, Epoxy, Polyester, Alkyd
3) By Application: Residential, Commercial, Automotive And Aviation, Medical And Healthcare
By Geography:The regions covered in the construction paints and coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the construction paints and coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global construction paints and coatings market report during the forecast period. The regions covered in the construction paints and coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Construction Paints And Coatings Industry Players
PPG Industries Inc., Badische Anilin- und Sodafabrik, Akzonobel N.V., Sherwin Williams Company, Asian Paints Ltd., Axalta Coating Systems Ltd., Valspar Corporation, Helios Group, Tikkurila Oyj, Beckers Group, DyStar Singapore Pte Ltd., Republic Powdered Metals International Inc., Jotun Chemicals, Dow Chemicals, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd., Benjamin Moore & Co., Berger Paints Ltd., Hempel A/S, Brillux GmbH & Co. KG, DAW SE, H.B. Fuller Company, Dunn-Edwards Corporation, Kelly-Moore Paint Company Inc., Rust-Oleum Corporation, Toa Kensetsu Kogyo Corporation, Diamond Vogel Paints, Tnemec Company Inc., National Paints Factories Co. Ltd., Farrow & Ball Ltd.
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Construction Paints And Coatings Market Overview
Construction paints refer to a mixture or dispersion of opaque pigments or powders in a liquid or solvent. Coatings include varnishes and inorganic binders which are examples of additional substances that can be related to paint in their application. In construction paints and coatings are important to prevent and reduce corrosion in buildings, building components, and infrastructure.
Construction Paints And Coatings Global Market Report 2023 provides data on the global construction paints and coatings market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The construction paints and coatings market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.