Architectural coatings are paints used to coat and paint houses & buildings, also known as decorative coatings. These coatings are engaged to prevent corrosion & rusting of metallic parts of radiators, tanks, fences and metal furniture. These coatings are designated for specific applications for instance wall paintings & wood flooring and sculptures & furniture etc. These coatings have the ability to fascinate, reflect light and to change color of the substrate or surface. These are majorly applied for executing protective, durable and decorative functionalities. Some of the essential properties include adhesion, weather shield, wettability, and resistance to corrosion.
According to study, “World Architectural Coatings Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world architectural coatings market are AkzoNobel NV, Nippon Paints Holdings Co. Ltd, Midwest Industrial Coatings Inc., PPG Industries Inc., Kelly-Moore Paint Company, Inc., Asian Paints Ltd., Axalta Coatings, Kansai Paint Co., Sumter Coatings, BASF SE, The Valspar Corporation, RPM International Inc., The Sherwin-Williams Company, Protech-Oxyplast, Novochema, Primalex, CHEMOLAK, Jotun, Colorlak, Color Company, Denas Color, Inex, Prisum Coatings Canada Inc., A&A Coatings, Helios Group, RockSolid Industrial, Single Source, Inc., LINE-X UK, Michelman, Inc., IFS Coatings, Berger Paints, Carpoly, Chromology, Hempel, Tikkurila Oyj, Duluxgroup Ltd., Benjamin Moore & Co., Diamond-Vogel Paint Company, STO Corp., Guangdong Maydos Building Materials Co., Ltd, Lanco Paints, H-I-S Coatings and Paint Manufacturing Co., Pintuco, Fujikura Kasei Co., Ltd.
Based on resin type, architectural coatings market is segmented into acrylic, epoxy, alkyd, polyurethane, urethane, polyester and others. Based on technology, market is segmented into solvent borne coatings, waterborne coatings and powder coatings. Based on function, market is segmented into ceramics, lacquers, inks, paints, primers, powder coatings and sealers. Based on coating type, market is segmented into exterior, interior and others (roofing, flooring and wood). Based on user type, market is segmented into professional and DIY. In addition, based on application, market is segmented into residential and non-residential.
The architectural coatings market is driven by increase in adoption of powder coatings & water borne coating formulations, followed by environmentally-friendly coating systems, rise in per capita paint consumption, increase in demand from construction industry, growth in population, rapid increase in industrialization & urbanization, enhance in financial & social status of the population, growth in demand for fireproofing & waterproofing materials for new and refit constructions, increase in infrastructural activities, growth in environmental awareness and durable coatings with better performance & aesthetics. However, stringent environmental regulations and rise in raw material prices may impact the market. Moreover, expand in application areas of nano-coatings and introduction of green coatings solutions are key opportunities for market.
Based on geography, China, Japan and India countries holds major share in architectural coatings market owing to large number of developments & reclamation activities by government organizations and substantial development firms in the countries. Europe and USA are expected to witness higher growth rate due to rise in demand for bio-based coating materials and increase in technological advancements over the forecast period. It is projected that the market will be grown fast on account of increase in demand for high durability & eco-friendly coatings over the forecast period.
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Ankur Gupta, Head Marketing & Communications