In the projected period 2022-2032, Fact.MR expects worldwide architectural coatings sales will exceed US$ 121,000 Mn, with a CAGR of 4.5 percent. Architectural coatings are used on both the outside and inside of buildings to offer protective and aesthetic layers. The majority of architectural coatings are applied with rollers, sprayers, brushes, and other tools.
In 2021, the architectural coatings market had a market value of US$ 77,888 Million, and it is predicted to grow at a positive CAGR of 4.52 percent from 2022 to 2032, reaching a market value of US$ 121,000 Mn.
Key Segments Covered
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By Resin Type :
- Acrylic Architectural Coatings
- UV Curable Resins Architectural Coatings
- Fluoropolymers Architectural Coatings
- Urethane Architectural Coatings
- Metallic Additive Architectural Coatings
- Other Architectural Coatings (epoxy, polyalkyds and amines)
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By Formulation Type :
- Solvent Borne Architectural Coatings
- Water Borne Architectural Coatings
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By Application :
- Architectural Coatings for Residential Applications
- Architectural Coatings Non Residential Applications
Competitive Environment
With new product releases, acquisitions, and the establishment of new facilities in numerous regions, the market’s major competitors are focusing on global expansion.
PPG Industries Inc., one of the top six players with an emphasis on acquisition and distribution, has acquired ProCoatings, a Dutch architectural coatings and paint supplier. In addition, the company is building a new distribution hub in Texas for architectural paint and coatings.
Sherwin Williams, another major competitor, has created the Minwax performance series, which features a revamped colour palette and an interior stain design centre.
Meanwhile, in Philadelphia, Axalta has constructed the world’s largest coatings research and development centre.
