Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the exterior architectural coating market provides an in-depth analysis of segments and sub-segments in the global as well as
regional exterior architectural coating market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
exterior architectural coating market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecasts, and dollar
values of the global exterior architectural coating market. According to the
report, the global exterior architectural coating market is projected to grow
at a CAGR of about 4.8% over the forecast period of 2022-2028.
The value of the exterior
architectural coating market in 2022 was nearly USD 31 billion and is expected to
reach around USD 41 billion in 2028 and is expected to be growing with a CAGR of about 4.8%
during the forecast period. Exterior architectural coating is coatings applied
on-site to the exterior surfaces of commercial, residential, industrial, and
institutional infrastructures. Architectural coatings are primarily used for
general maintenance, and decoration purposes. Demand in the global market is
being fueled by the growing base of commercial buildings globally. Renovation
activity along with building & construction projects in commercial,
industrial, and residential sectors are creating strong demand for exterior
architectural coating. Exterior architectural coating 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. COVID-19 was an incomparable global public health
emergency that has affected almost every industry and is projected to impact
these various industry growths during the forecast period. During the Covid-19,
pandemic people were compelled to stay in their homes. The governments of many
countries in the world turned their focus to healthcare from other industries.
This significantly disrupted their supply chain operations and manufacturing as
lockdowns were imposed by the respective governments. Manufacturing facilities
were all shut down due to the pandemic in almost every country across the
globe. Logistical restrictions, manpower shortage, material unavailability, and
other restrictions had reduced the growth of the industry. The pandemic has
affected the normal production of companies. The COVID-19 pandemic has created
instability in the exterior architectural coating market across the globe.
The increasing government spending
in Asian countries on construction and infrastructure development is expected
to amplify the growth of the exterior architectural coating market over the
forecast period. Consumers across the globe are looking for paints, coatings,
and stains which can offer high quality, convenience, durability, easy
application, and pleasing aesthetics without strong odors and high volatile
organic compounds (VOC). The low VOC has become a must-have option for all the
manufacturers in the global exterior architectural coating market. This trend
of using low VOC and non-VOC paints and coatings in the exterior architectural
coating market is expected to drive the use of recycled paints & coatings
or paints & coatings made from bio-renewable resources. Many of the
customers for exterior architectural coating are looking for products with
similar properties as interior coatings. The consumers are more focused on the
properties of an exterior architectural coating such as excellent sheen
uniformity, good opacity, touch-up and blend well, and ease of application.
Some of the key manufacturers are offering a wide range of environment-friendly
paints and coatings in the exterior architectural coating market to meet
consumers changing demands.
The report provides a regional
outlook covering geographies such as North America, Europe, Asia-Pacific, and
the Rest of the World. Asia-Pacific is expected to dominate the exterior
architectural coating market during the forecast years. In the Asia-Pacific
region, China is expected to witness the highest growth in construction
activities, followed by India. In China, government spending has been
increasing, in order to construct affordable housing facilities, to cater to
the housing demand. In India, the infrastructure sector has become one of the
major focus areas for the government. The government aims to boost the construction
of buildings in the country and has decided to come up with a single-window
clearance facility, in order to provide speedy approvals of the construction
projects. Japan is keen to invest in overseas infrastructure projects, rather
than in its own country, as the country is more interested in reaping the
profits of using its technology in other countries, like India. Internally,
Japan’s architectural and infrastructural industry has matured, thus making it
a less prospective country for paints and coatings. Therefore, the region's
growing residential and commercial construction activities are expected to
drive the market for exterior architectural coating in Asia-Pacific over the
forecast period.
The report on the global exterior
architectural coating market covers segments such as product, technology, resin
type, and application. On the basis of product, the sub-markets include primer,
emulsion, and enamel. On the basis of technology, the sub-markets include
solventborne, and waterborne. On the basis of resin type, the sub-markets
include acrylic, epoxy, polyester, alkyd, and polyurethane. On the basis of
application, the sub-markets include residential, and non-residential.
The report provides profiles of
the companies in the market such as BASF SE, PPG Industries, Nippon Paint,
AkzoNobel, Dow Chemical Company, Benjamin Moore, DAW SE, Cromology, Diamond
Vogel, and Berger Paints.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the exterior architectural coating market. Moreover, the study highlights
current market trends and provides forecasts from 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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