The global exterior architectural coating market is witnessing rapid technological breakthroughs which have highly impacted the current market trends, competition, forecast and dynamics including drivers, restraints and opportunities. The report also entails a detailed analysis of the global exterior architectural coating industry, strategies of key industry participants including mergers & acquisitions, Porter’s Five Forces Analysis and value chain analysis for better decision making. The report also provides exhaustive market segmentation and its ongoing trends and macroeconomic indicators for key geographical markets.
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The global exterior architectural coatings market is projected to surpass USD 29 billion by 2025, assisted by the huge demand for paints & coatings in the construction industry. Architecture accounts for the majority of the demand for coatings, paints and varnishes. Demand for architectural coatings will be fueled by the healthy growth in residential construction spending, particularly in developing regions.
Exterior architectural coatings are applied outside residential and commercial structures to improve their appearance and protect the surface. These coatings protect an architectural structure from UV rays, microbes, moisture and harsh weather conditions. The growing number of new homes coupled with renovation & maintenance of older complexes has significantly boosted the global exterior architectural coating market.
Paints, varnishes, lacquers, enamels and emulsions are the widely adopted coating products. Emulsions are expected to show high growth, rising with a revenue CAGR of 4.7% during the forecast period (2018 to 2025), owing to its excellent properties such as quick drying, lower cost and ease of use.
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In 2017, acrylic resin type accounted for slightly less than 60% of the global exterior architectural coatings market value. Acrylic latexes continue to find widespread demand in both interior and exterior waterborne coatings. Acrylic emulsions are highly valued for their high durability, superior gloss retention and high paint binding properties. Furthermore, water-based alkyd and polyurethane technologies have also advanced significantly and find increased demand in various architectural applications.
Waterborne coatings segment was valued at USD 15.89 billion in 2017 and is expected to maintain its prominence in the years ahead since its non-flammable characteristics improve consumer safety and sustainability by reducing harmful emissions. Also, shifting trends towards eco-friendly products has further favored the growth of this segment. Stringent amendments by EU Commission and Environmental Protection Agency (EPA) affecting VOC content in coatings has led to the adoption of green technologies and bio-based materials for architectural applications, thereby driving the waterborne coatings demand over the forecast period.
Asia Pacific is projected to be the largest consumer within the global exterior architectural coating industry over the forecast period, with an estimated revenue CAGR of 6.3% from 2018 to 2025. Increasing government budget allocation for infrastructure development in Asia Pacific, particularly in countries such as India and China, is a key factor behind market growth. Presence of cheap labor along with ample availability of raw material resulting in low production cost has forced key players to shift their production to Asia Pacific which is further expected to propel the Asia Pacific exterior architectural coatings market development.
The global exterior architectural coating market is highly fragmented owing to the presence of several players. Companies such as AkzoNobel N.V., Axalta Coating Systems, PPG Industries, Sherwin-Williams and Nippon Paints are some of the leading players in the global exterior architectural coatings market.
Key segments of the global exterior architectural coatings market
Resin Type Overview, 2015-2025 (Kilo Tons) (USD Million)
Technology Overview, 2015-2025 (Kilo Tons) (USD Million)
Product Overview, 2015-2025 (Kilo Tons) (USD Million)
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
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This post was originally published on Technology Trend