Market Overview and Market Insights: Architectural coatings, often known as decorative coatings, are coating compositions used to cover buildings and residences. Architectural coatings refer to a wide range of coatings, including varnishes, paints, primers, sealers, inks, ceramics, and others. Architectural coatings, which are applied to the interior and exterior walls, floors, and ceilings of buildings, should be resistant to moisture, heat, changing weather, chemicals, and other elements.
According to SPER market research, ‘Global Architectural Coatings Market Size- By Resin Type, By Function, By Technology, By End-Use Industry – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Architectural Coatings Market is predicted to reach 109.53 billion by 2033 with a CAGR of 4.83%.
Drivers: The construction boom, particularly in Asia-Pacific’s growing nations, is driving the worldwide architectural coatings industry. Furthermore, changes in customer tastes and increased awareness of the safety and VOC emissions of architectural coatings are driving the industry. Furthermore, the shift from solvent-based to water-based coating formulations is anticipated to support the growth of the global architectural coatings market throughout the forecast period. The development of green coatings is projected to open up many growth prospects for the industry. These coatings comply with regulatory body safety and VOC emission standards.
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Restraints: It is anticipated that the market’s expansion will be impeded throughout the forecast period by the presence of hazardous compounds in coatings. The volatile organic compounds, or VOCs, found in architectural coatings are widely regarded as hazardous to the environment and can cause a number of respiratory issues in people. There are strict laws governing the use of harmful substances in paints and coatings, including formaldehyde, ethanol, ammonia, acetone, glycols, and biocides, among others. According to certain research, alkyd coatings are anticipated to include over 100 distinct volatile organic compounds. After the paint or coating has dried, VOCs are mostly released. Green coatings, which have just been launched and are now being developed for use, or powder coatings are alternatives to this.
Impact of COVID-19: Travel restrictions, supply chain interruptions, interrupted or suspended production, and a shortage of subcontractors and raw materials all had an effect on the architectural coatings business during the COVID-19 epidemic. These factors all affect demand from the automobile, aerospace, and architectural industries. On the other hand, the COVID-19 epidemic is expected to boost the demand for architectural coatings from the general industrial and construction sectors. Additionally, growth potential are created by the increase of nanocoating’s application areas.
Market Key Players: Asia-Pacific held the highest share of the architectural coating market in 2020. The Asia-Pacific architectural coating market is predicted to develop at the fastest CAGR, both in terms of volume and value. Due to their construction boom, emerging economies like China, India, and others have a high demand for architectural painting. Some significant market players are PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, Axalta Coatings, and others.
Global Architectural Coatings Market Segmentation:
By Resin Type: Based on the Resin Type, Global Architectural Coatings Market is segmented as; Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, Urethane, Others.
By Function: Based on the Function, Global Architectural Coatings Market is segmented as; Ceramics, Inks, Lacquers, Paints, Powder Coatings, Primers, Sealers, Stains, Varnishes.
By Technology: Based on the Technology, Global Architectural Coatings Market is segmented as; Solvent Borne, Water Borne.
By End-Use Industry: Based on the End-Use Industry, Global Architectural Coatings Market is segmented as; Residential, Non-Residential.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
For More Information in Architectural Coatings Market, refer to below link –
Architectural Coatings Market Share
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