CHICAGO, May 15, 2023 /PRNewswire/ -- The report "Architectural Coatings Market by Resin Type (Acrylic, Alkyd, vinyl, Polyurethane), Technology (Waterborne, Solventborne), Coating Type (Interior and Exterior), User Type (DIY and Professional), Application, and Region - Global Forecast to 2028", size was USD 85.0 billion in 2023 and is projected to reach USD 102.7 billion by 2028, at a CAGR of 3.9%, between 2023 and 2028. The architectural coatings market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. China and India, among other nations, are the worldwide leaders in the architectural coatings industry. The Asia Pacific market is seeing rapid expansion, which is likely to continue due to increased residential building and enhanced house remodeling practices.
Browse in-depth TOC on "Architectural Coatings Market"
180 – Tables
70 – Figures
260 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186634159
Waterborne coating segment is expected to account for the largest share in 2023.
Water-based coatings are coating systems that employ water as the primary solvent to spread the resin. They typically comprise 70-80% water and minor quantities of additional solvents, such as glycol ethers. Many residential and non-residential buildings are now painted with at least some layers of water-based paint. Solvents are used in liquid coatings to suspend paint pigments. As these solvents evaporate, harmful volatile organic compounds (VOCs) are released into the atmosphere. Water-based paint suspends paint pigments in water, lowering VOC emissions and making these coatings more ecologically friendly.
Acrylic segment is expected to account for the largest share in 2023.
Acrylic coatings are aqueous, easy to apply, and reasonably priced; they work well in a variety of applications, including roof and wall coating. They cure by water evaporation, have a decent degree of cohesive strength, and adhere well to most roof surfaces. Asia Pacific is driving demand for acrylic architectural coatings due to the region's expanding building sector. The construction sector contributed 7.6% of India's overall GDP in 2021. As a result, the government in the country is focusing on the development of construction and infrastructure services through various policies such as large budget allocations, open FDI, the Make in India initiative, and smart cities mission.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=186634159
Europe is expected to account one of the largest shares in 2023.
The economic slump of the last decade hampered the expansion of most European industries. However, demand for architectural coatings is expected to gradually recover because of initiatives and safety regulations implemented by various governments throughout the region. The market is being driven by Western European countries such as Germany, the United Kingdom, and France. The European architectural coatings industry is mature and growing slowly, owing to a progressive movement of manufacturing sectors to countries with strong demand and cheaper production costs. Market participants are focused on growing remodelling and restoration activities in the region, which is boosting the regional architectural coatings market. Significant private company investments in Europe's building industry also favour market expansion.
Major players operating in the architectural coatings include The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), BASF Coating GMBH (Germany), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Masco Corporation (US), and others.
Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting
Related Reports:
Paints & Coatings Market - Global Forecast to 2026
Anti-Graffiti Coatings Market - Global Forecast to 2023
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/architectural-coatings-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/architectural-coatings.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article