What is Architectural Paints Coatings Market Scope?
Changing consumer preferences and increasing awareness among people regarding the safety and VOCs emissions from architectural coatings is help to boost global architectural paints coatings market in the forecasted period. Architectural coatings also called as decorative coatings, are coating formulations used to coat buildings and homes. Architectural paints coatings cover various coatings such as varnishes, paints, primers, sealers, ceramics, inks, and several others. It should be resistant to certain factors including moisture, changing weather, heat, chemicals, and others.
The Architectural Paints Coatings market study is being classified, by Application (DIY and Professional) and major geographies with country level break-up. According to AMA, the Global Architectural Paints Coatings market is expected to see growth rate of 6.0%
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Architectural Paints Coatings market throughout the predicted period.
PPG Industries, Inc. (United States), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (United States), Kansai Paints Co., Ltd. (Japan), Asian Paints Limited (India), Nippon Paint Holdings Co., Ltd. (Japan), BASF SE (Germany), Axalta Coatings (United States), Masco Corporation (United States) and The Valspar Corporation (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Jotun Group (Norway), RPM International Inc. (United States), Midwest Industrial Coatings Inc. (United States) and Sumter Coatings (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Architectural Paints Coatings market by Type, Application and Region.
On the basis of geography, the market of Architectural Paints Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
On 1st August 2019, PPG has launched of PPG AQUAPON® WB EP water-based epoxy coating featuring a fast-drying, ultra-low volatile organic compound (VOC) formulation. This newest product in the PPG Aquapon line is designed for high-traffic interior spaces that face significant wear and tear and require easy maintenance and low odor.
On 22nd July 2019, PPG has acquired Dexmet Corporation, a manufacturer of specialty materials for surfaces in aerospace, automotive and industrial applications. The company is a leader in several critical application areas, including aircraft lightning strike protection.
“This final rule is based on the Administrator’s determination that VOC emissions from the use of architectural coatings have the potential to cause or contribute to ozone levels that violate the national ambient air quality standards (NAAQS) for ozone. The final rule is estimated to reduce VOC emissions by 103,000 megagrams per year (Mg/yr) (113,500 tons per year [tpy]) by requiring manufacturers and importers to limit the VOC content of architectural coatings.”
Influencing Market Trend
- Growing Need of LEED Certified Construction Materials Due To Rising Green Building Construction
- Huge Demand due Increasing Interior Decoration & Beautification in Residential and Commercial Segments
Market Drivers
- Increase Demand for High Durability and Eco-Friendly Coating
- High Adoption Due To Rising Renovation & Restoration
Opportunities
- Development of Niche Application Segments Including Restoration of Frescos and Sculptures in Heritage Sites
- Expanding Application Areas of Nanocoatings
Restraints
- Growing Raw Material Prices
Challenges
- Stringent Government Regulations against the Harmful VOCs Emitted By Certain Architectural Coatings
Key Target Audience
Manufactures, Suppliers and Distributors, Government Regulatory Bodies, Government Research Organization, Private Research Organizations and Others
Customization available in this Study:
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