The Architectural Coatings Market Size was valued at USD 80.1 Billion in 2022. The Architectural Coatings industry is projected to grow from USD 82.4 Billion in 2023 to USD 109.34 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period (2023 - 2030). The Architectural Coatings Market is getting better because of the driving force of the development in the technology, advancement in the applications is the main driver for the Architectural Coatings Market Growth. There is also much important development that created the demand for the growth of the Architectural Coatings Market. They are increasing the investment in the infrastructure and growing awareness about green and environmentally friendly coatings.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Many driving factors pave the way for the growth of the Architectural Coatings Market Size. In recent days due to the development in the construction sector, there are a huge number of commercial buildings which also adds growth to the Architectural Coatings Market Share. In addition to that this has created a demand not only for the paints but also for the coatings. Because of the knowledge about waterproof coatings, the demand has increased in recent days. The durability of the coatings, when compared to the painting, is high. This has also created growth in the Architectural Coatings Industry.
Additionally, the growth opportunity of the Architectural Coatings Industry is that awareness about green and environment-friendly products in recent times has become high. Due to this, there is an increase in growth opportunities. People are getting aware of the coating's benefits and its long-term durability are some of the opportunities which drive the growth of the Architectural Coatings Market Value. The use of waterproof coatings to avoid the metallic rust of the buildings also gains growth opportunities.
The Architectural Coatings market segmentation, based on Resin Type, includes Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, Urethane, and Others. The acrylic segment dominated the architectural coating market in 2020 and is expected to maintain its dominance during the forecast period, owing to an increase in demand for high-performance and safe coatings that has resulted in a higher overall demand for acrylic coatings.
Based on Technology, the Architectural Coatings market segmentation includes Solvent Borne and Water Borne. The water-borne segment dominated the architectural coating market in 2020 and is expected to maintain its dominance during the forecast period, owing to the low emission of VOCs and its environmentally safe nature increasing the demand for water-borne coatings in the market.
Based on End-use Industry, the Architectural Coatings market segmentation includes Residential and Non-residential. The residential segment dominated the 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.
Figure 2: Architectural Coatings Market, by Technology, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is the largest shareholding region with many developing countries in the constructional sectors. These countries are Japan, China, and India. This is the growth of the Asia Pacific because of the help of government organizations and also because of the interest of the people to beautify their interiors.
Figure 3: ARCHITECTURAL COATINGS MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The second place in the Architectural Coatings Market is for North America. This is because the consumer is aware of the benefits of using the coatings when compared to the paint. The main driving force of the North American market is the countries like the US, Mexico, and Canada. This is because of the people's interest in knowing the awareness about the industries.
The European region is expected to gain growth in the upcoming years. The European region had faced many losses in the past because of the scarcity of raw materials in Europe. So the key players are interested in extending their market value.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Architectural Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Architectural Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Architectural Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Architectural Coatings industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Architectural Coatings industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Architectural Coatings market players, including PPG Industries Inc, Akzo Nobel N.V., The Sherwin-Williams Company, Kansai paints corporation, and others, are attempting to increase market demand by funding R&D initiatives.
PPG Industries is a company that manufactures and distributes paints, coatings, and specialty materials. The company operates through two business segments: Performance Coating and Industrial Coating. It supplies coatings and specialty materials to customers in a wide array of end-uses, including industrial equipment and components; packaging material; aircraft and marine equipment; automotive original equipment.
Also, AkzoNobel is a company that manufactures paints and coatings. It offers products such as decorative paints, automotive, specialty, marine, protective, yacht, industrial, and powder coatings. The company operates several brands, such as AkzoNobel, Alabastine, Alba, Apla, Cetol, Coral, Dulux, Flexa, Glitsa, Herbol, and Lesonal.
Jan 2022, The US Department of Agriculture (USDA) has certified Arkema's SYNAQUA 4856 alkyd to carry the Certified Biobased Product designation. SYNAQUA 4856 alkyd is created from 97 percent bio-based raw materials derived mostly from NORDIC forest wastes and is devoid of APEO, ammonia, solvents, and plasticizers. SYNAQUA 4856 alkyd for architectural coatings is created from 97 percent bio-based raw materials, according to Arkema. Formulators can use SYNAQUA 4856 alkyd to obtain various desirable properties in their interior wall paint and primer formulas, such as gloss potential, chemical and scrub resistance, hardness development, and more.
Jan 2022, The Home Depot® and HD Supply® have expanded their partnership with PPG's architectural coatings business to offer a complete array of professional PPG paint products and services developed specifically for professional clients. The new product line will be available in all Home Depot stores in the United States starting in the fourth quarter of 2021. HD Supply, a wholly-owned holding of The Home Depot and a renowned national distributor of maintenance, repair, and operations (MRO) items, will also carry the whole product line.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD Â 80.1 Billion |
| Market Size 2023 | USD 82.4 Billion |
| Market Size 2030 | USD 109.34 Billion |
| Compound Annual Growth Rate (CAGR) | Â 4.5% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Resin type, Technology, End-use industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan), Asian Paints Ltd (India) |
| Key Market Opportunities | Expanding government support for development extending in the urban territories, rising white collar class populace spending to enhance expectations. |
| Key Market Dynamics | Growing overhaul and remaking practices in both residential and non-residential structures. |
Frequently Asked Questions (FAQ) :
The Architectural Coatings market size was valued at USD 80.1 Billion in 2022.
The Architectural Coatings market is projected to grow at a CAGR of 4.5% during the forecast period, 2023-2030.
Asia Pacific had the largest share of the Architectural Coatings market.
The key players in the Architectural Coatings market are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan), Asian Paints Ltd (India)
The acrylic categories dominated the Architectural Coatings market in 2023.
Waterborne had the largest share in the market for Architectural Coatings.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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