Top 6 Players Hold Nearly 1/3rd Revenue Share in Architectural Coatings Market
The architectural coatings market is expected to increase at a moderate rate, with global demand for architectural coatings growing at a CAGR of 4.1% in terms of volume between 2018 and 2027.
Top 6 players in the architectural coatings market account for nearly 1/3rd of the revenue share, upheld by their operations worldwide and robust sales infrastructure.
The leading players in the market are focusing on global expansion with new product launches, acquisitions, and opening new facilities in various countries.
PPG Industries Inc., one of the top 6 players with focus on acquisition and enhancing distribution capabilities has acquired ProCoatings, architectural coatings and paint wholesaler in The Netherlands.
Moreover, the company is also developing new distribution center for architectural paint and coatings in Texas.
Another major player, Sherwin Williams has introduced Minwax performance series with redesigned color palette and interior stain design center.
Meanwhile, Axalta has also opened world’s largest coatings research and development center in Philadelphia.
Strengthening manufacturing and distribution center is one of the key strategies adopted by leading players to expand their global footprint in the architectural coatings market.
Immense Growth in Construction Sector Boosts Demand for Architectural Coatings
Growth in people migrating to urban areas is resulting in the development of affordable housing and infrastructure by the construction industry.
This is driving the demand for various equipment and architectural coatings materials used in the construction of residential as well as commercial complexes.
China, India, and the US are likely to see a significant growth in construction in the near future, according to the report named Global Construction 2030, by expert team from Global Construction Perspectives and Oxford Economics.
As per the report, India is likely to grow twice as fast as China by 2030. Meanwhile, most of the construction growth in the US is expected to tilt towards the southern states.
The demand for exterior architectural coatings to protect a building from moisture, UV radiations, and microbes is increasing.
Moreover, the growing demand for a greater variety of colors, with better consistency and durability is also resulting in manufacturers providing a wide range of eco-friendly, higher quality architectural coatings.
Rise in the renovation of existing construction is also driving demand for both interior and exterior architectural coatings.
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Global Emission Regulations Create Huge Demand for Low and Zero VOC Architectural Coatings Products
In the last few years, governments across various countries have introduced stringent regulations on emission from Volatile Organic Compounds (VOC) products used in paints and architectural coatings.
Increasing consumer awareness of the negative effects of VOCs is driving demand for low and zero VOC coatings and paints.
Increasing number of companies are working on projects where LEED (Leadership in Energy and Environmental Design) certification is required.
Varying degree of accepted VOC levels in LEED certification is accelerating the demand for low and zero VOC paints and coatings.
Manufacturers in architectural coatings market are focusing on maintaining balance between low VOC level and high-quality products to meet consumer demand and meet the performance gap between low VOC and traditional coating products.
Moreover, green building standards in some countries relating to indoor air quality and growing desire for low odor interior has also resulted in increased production and demand for ultra-low and zero VOC paints and architectural coatings.
Regulatory Changes Driving Shift to Water-based Coatings Remain Challenge for Coating Manufacturers
Solvent-based coatings are used widely owing to their low-cost, superior film-forming characteristics, and ease of application.
However, introduction of stringent VOC and other regulations worldwide is driving shift from solvent-based to water-based architectural coatings.
Manufacturers in the architectural coatings market are constantly struggling to enhance the performance of water-based coatings and minimize its cost.
Manufacturers are also finding ways to maintain low Minimum Film Formation Temperature (MFFT) and at the same time ensuring hardness of the dried film in water-based coatings.
Regulations on VOC emission is also emerging as a challenge for architectural coatings manufacturers. Lack of VOC in water-based coating results in quick evaporation of water resulting in tacky paint.
Hence, architectural coatings manufacturers are focusing on developing a raw material that offers longer open time for paint user.
Moreover, longer dry time of water-based coatings requires additional heat and air movement.
One of the biggest challenges in the use of water-based coatings is majorly performance-related in various industries.
Some of the issues include UV degradation, corrosion resistance, and adhesion to various surfaces including plastic, steel, aluminum, etc.
To improve the performance of water-based architectural coatings, manufacturers have also started providing co-solvents, which includes low concentration of solvents in water-based architectural coatings.
With advancement in raw materials improving capability of water-based coatings has resulted in higher cost of per volume of water-based architectural coatings as compared to solvent-based coatings.
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Application of UV Curable Resins Continue to Create Growth Opportunities
In recent years, there has been a rise in the use of radiation curing technology for buildings, interior and exterior coatings. Hence, the demand for UV curable resins in the architectural coatings has increased.
Moreover, increasing environmental concerns and on-going legislation to limit emission from VOC is leading to the growing demand for UV curable fluorine-containing resins.
Efficiency, energy saving, and higher solid content are resulting in increasing use of UV curable fluorine-containing resins in various industries. Solvent UV curable coatings have emerged as non-flammable liquids, resulting in fire protection and reducing handling hazards as compared to other solvent-based coatings.
This is also resulting in the wide application in building’s exterior and interior. Compared to traditional radiation curing systems, the UV resins based architectural coatings are gaining traction in automotive and construction industry.
Architectural coatings manufacturers across the globe are also upgrading their operations to develop water-based UV curable coating.
Combining eco-friendly properties of water-based formulas and fast curing time by UV system, manufacturers are providing high performance and strong chemical resistance.
The architectural coatings market report provides information on all the leading companies in the market.
The report also provides SWOT analysis along with the dashboard view of the major players in the architectural coatings market.
Key developments, market share, business strategies of each player in the architectural coatings market is offered in the report.
Increasing number of companies in the architectural coatings market are planning to expand themselves in regional markets through partnerships and mergers and acquisitions.
New product development is also one of the strategies of most of the key players in the architectural coatings market.
PPG Industries Inc. has launched advanced passive fire-protection coating known as PPG PITT-CHAR NX.
The coating eliminate cracking and delamination risk during transportation, fabrication and construction.
AkzoNobel with a plan to combine its expertise with ingenious solutions of startup has launched Paint and Future Innovation Challenge.
The company through the challenge aims to connect with startups and develop new technologies and product innovation in paints and coatings. The winner will be awarded a chance to enter into a joint development with AkzoNobel.
Nippon Paint along with Wiskind has launched a coil coating joint innovation center. The companies’ together plan to find new business opportunities and advancing technology development.
They also plan to offer high value-added solutions to their clients in the construction sector.
With old Dow producing in more than 10 sectors, the new Dow is likely to focus on performance materials and coatings, packaging and specialty products.
The performance materials and coatings in new Dow portfolio include consumer solutions and coatings & monomers.
An Adaptive Approach to Modern-day Research Needs
Architectural coatings include paints, specialty coatings, sealers, and other coatings used to coat buildings and homes.
These coatings are designated to provide protective and decorative layer on architecture in both exterior and interior applications. Most of the architectural coatings are typically applied using rollers, sprayers, brushes and other applications.
About the Report
The report on the architectural coatings market provides valuable insights and forecast on the market.
The information on all the important factors influencing the growth in the architectural coatings market are also provided in the report.
The objective of the report is to offer exclusive information on the architectural coatings market and help companies to plan strategies accordingly.
The report on the architectural coatings market also offers information on the growth opportunities.
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Additional Questions Answered
The report on the architectural coatings market also provide answers to some of the important questions.
- Which is the most dominating region in the architectural coatings market?
- What will be the volume share of water borne formulation in the architectural coatings market?
- Which will be the top-selling product in the architectural coatings market
- What is the revenue share of APEJ in the architectural coatings market?
The forecast and key insights offered in the report on architectural coatings market are based on the unique research methodology.
Both primary and secondary research has been done to provide correct data and insights on the architectural coatings market.
The information on the architectural coatings market has been obtained from various sources. The information collected is also cross-checked with valid data sources.
Actionable insights on the architectural coatings market have been offered to help clients to take business decisions and plan successful business strategies.
The architectural coatings market is segmented on the basis of resin type, application, and formulation type.
The key segments are further divided into sub-segments in order to offer clear picture on the growth of the architectural coatings market.
Based on the resin type, the architectural coatings market is segmented into Fluoropolymers, Acrylics, Metallic Additive, Urethanes, and others (epoxy, poly alkyds, and amines).
On the basis of application the market segmentation includes residential and non-residential. Based on the formulation type, the architectural coatings market is further segmented into Water Bourne and Solvent Bourne.
Architectural Coatings Market Report Scope
The architectural coatings market report provides key insights and has been thoroughly analyzed and published by Fact.MR.
The report on the architectural coatings market provides historic data and forecast on the market along with the factors impacting the growth of the architectural coatings market worldwide.
The data and the information offered on the architectural coatings market is unbiased and accurate.
The report also includes market dynamics such as latest trends, opportunities, drivers, and challenges in the architectural coatings market. The primary and secondary research done on the key players is also included in the report.
Chapter 1- Executive Summary
The chapter includes key findings and summary of statistics. The report on the architectural coatings market also provide information on all the mega trends in this chapter.
Chapter 2- Market Overview
This chapter of the report provides product specific definition of architectural coatings. It also offers brief introduction of the market including essential numbers in the form of value, volume, CAGR, and year-on-year growth.
Chapter 3- Associated Indicators Assessment
This chapter includes market dynamics such as challenges, trends, drivers and opportunities in the architectural coatings market. Cost analysis, regulatory scenario, anf key factors affecting the growth of the architectural coatings market growth are also provided in the chapter.
Chapter 4- Architectural Coatings Market Analysis and Forecast
This section of the report provide information on the key segments in the architectural coatings market including resin type, formulation type and application.
All the key segments in the report are further divided into sub-segments. The chapter offers data on each segment on the architectural coatings market in form of volume, value, year-on-year growth and CAGR.
Chapter 5- Architectural Coatings Market Size and Forecast by Formulation Type
This chapter offers information on the architectural coatings market based on the formulation type. This segment is further bifurcated into solvent bourne and water bourne. Each segment include important numbers in form of revenue, volume, market share, and year-on-year growth.
Chapter 6- Architectural Coatings Market Size and Forecast by Application Type
This section of the report provides information on the architectural coatings market based on the application. This segment is further divided into residential and non-residential. Each segment include data in form of volume, value, year-on-year growth, and market share.
Chapter 7- North America Architectural Coatings Market Analysis
This chapter in the report provides analysis of the architectural coatings market in North America along with the present market scenario in the key countries of the region.
Important factors influencing growth and impact assessment in the architectural coatings market in North America is also offered in the report.
Chapter 8- Architectural Coatings Market in Latin America
This chapter offers brief introduction of the architectural coatings market in Latin America. Country-wise analysis of the market is also provided in this chapter. The report also offers details on key players operating in the architectural coatings market in Latin America.
Chapter 9- Europe Architectural Coatings Market Analysis
This section of the report provides valuable insights on the performance of the architectural coatings market in Europe. The country-wise analysis of all the major countries in the architectural coatings market in Europe is also included in the report.
Chapter 10- Japan Architectural Coatings Market Analysis
This chapter of the report offers important information on the growth opportunities for the manufacturers in the architectural coatings market in Japan. The report also focuses on all the factors playing an important role in the architectural coatings market in Japan.
Chapter 11- Architectural Coatings Market in APEJ
This chapter offers brief introduction on the market in APEJ region along with the analysis and forecast. The chapter also includes data and information on all the key countries in the architectural coatings market in APEJ.
Chapter 12- Architectural Coatings Market in MEA
This section of the report provides historical data and forecast on the architectural coatings market in MEA region. The growth opportunities, along with the latest trends and challenges for the major players in MEA is also offered in the report.
Chapter 13- Competitive Assessment
This chapter of the report provides dashboard view of the key players along with the market structure of the architectural coatings market.
Chapter 14- Company Profiles
This chapter provides details on all the leading players in the architectural coatings market. Information on the business strategies and key developments by major players is also offered in the report.
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