Global Market for Architectural Coatings
Dublin, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The "Architectural Coatings - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Architectural Coatings Market to Reach $79.5 Billion by 2026
Demand in the global market is being fueled by the growing base of commercial buildings globally. Further, the rising use of coatings in the interiors of buildings is also aiding market growth. Renovation activity along with building & construction projects in commercial, industrial and residential sectors are creating strong demand for architectural coatings.
Architectural coatings demand will especially be on the rise in countries such as China and India, owing to fast-paced urbanization and the expanding construction sector. In recent years, there has been a migration to solvent-free coatings from high and low volatility organic solvents, due to the former`s lower emissions. The strict regulations related to VOC emissions are anticipated to foster demand for eco-friendly coatings such as water-based coatings.
In recent years, the demand for powder coatings is increasing due to their benefit of not having any liquid carrier and producing thicker coatings with no sagging. Powder coatings are free of solvents and release minimal amounts of VOC in the air. These coatings are generally applied on complex components of industrial machineries and automobile engines. The growing adoption of powder coatings is expected to considerably expand their market share in the architectural coatings market.
Amid the COVID-19 crisis, the global market for Architectural Coatings estimated at US$64.2 Billion in the year 2022, is projected to reach a revised size of US$79.5 Billion by 2026, growing at a CAGR of 4.9% over the analysis period.
The U.S. Market is Estimated at $12.8 Billion in 2022, While China is Forecast to Reach $17.3 Billion by 2026
The Architectural Coatings market in the U.S. is estimated at US$12.8 Billion in the year 2022. The country currently accounts for a 20.14% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$17.3 Billion in the year 2026 trailing a CAGR of 6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the analysis period.
Epoxy Segment to Reach $6.9 Billion by 2026
Demand for epoxy resins is attributable to their increased usage in floor coatings because of their superior bond strength, durability, adhesion, corrosion resistance, anti-sagging properties, low porosity, and chemical resistance. In the global Epoxy segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment.
Select Competitors (Total 73 Featured):
Asian Paints Limited
Kansai Paints Co., Ltd.
Nippon Paint Holdings Co., Ltd.
PPG Industries, Inc.
RPM International Inc.
The Jotun Group
The Sherwin-Williams Company
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Stringent Government Regulations Driving Demand for Eco-Friendly Architectural Coatings
Building Renovations & Remodeling: Prominent Revenue Generating Vertical
Green Panelized Housing Benefits from the 'Go Green' Trend
Prevailing Trends in the Construction Industry Influence Market Uptake
Contractors, Formulators and DIY Consumers Influence Uptake of Architectural Coatings
Favorable Demographic & Macro Trends Strengthen Market Prospects
Rapid Urbanization to Drive Demand Prospects
Burgeoning Middle Class Population
Growing Opportunities in the Interior Decoration Vertical
Architectural Coatings with Stain Resistance Feature Gain Traction
Rising Demand for Faux Finish Coatings Augurs Well
Evolving Use of Nanomaterials in Coatings Processing Augurs Well
Nanoclay Seeks Role in Coating Formulations
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/ies66j
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