Residential Architectural Coatings Market

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Residential Architectural Coatings Market (Application - Exterior, and Interior; Distribution Channel - Company-owned Stores, Independent Distributors, Large Retailers, and Wholesalers; Consumer Type - DIY Consumers, and Professional Consumers; Resin Type - Acrylic, and Alkyd; Technology - Waterborne, Solvent-borne, and Powder): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : June, 2022

  • Rep Id : CM00783

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the residential architectural coatings market provides an in-depth analysis of segments and sub-segments in the global as well as regional residential architectural coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional residential architectural coatings 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 residential architectural coatings market. According to the report, the global residential architectural coatings market is projected to grow at a CAGR of 6% over the forecast period of 2022-2028.

 

Market Insight

The value of the residential architectural coatings market in 2022 was about USD 11 billion and is expected to reach over USD 15 billion in 2028 and is expected to be growing with a CAGR of over 6%. Residential architectural coatings are a broad term covering an array of liquid-applied materials, ranging from traditional linseed oil-based paints to protective mineral silicate coatings to penetrating sealers. The coatings are used to enhance the appearance of the building and protect it from weather conditions such as wind-driven rain, standing water, acidic rain, ice, and freeze-thaw cycling. Any functional or aesthetic deterioration of the building wall risks shortening the life span of a building which is, in turn, creating the need for extensive repairs. The architectural coating is important for the overall sustainability of building structure, it takes into consideration of environmental concerns, ease of use, and color requirements. The most significant factor that influences the performance of the coating is its wearability, particularly its UV resistance. The architectural coatings are checked by different tests such as adhesive, impact resistance, humidity resistance, mortar resistance, acid resistance, and pencil hardness. The architectural coating is required to have good water resistance, good alkali resistance, certain decorative function, bonding strength to cement surface layers or wood materials and repair as well as maintenance and easy recoating. 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 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 shut down due to the pandemic in almost every country globally. Logistical restrictions, manpower shortage, material unavailability, and other restrictions had reduced the growth of the industry.

 

Growing housing construction activities are driving the residential architectural coatings market. Further, modern advancements in coatings and its wide variety of exterior and interior applications, a rise in civil construction activities across the globe, and large investments in the maintenance and repair of existing buildings are providing growing demand for the market. However, fluctuations in raw material prices are hindering the growth of the market. Moreover, the growth of the real estate sector and rapid development in infrastructure provide immense growth opportunities for the residential architectural coatings market.

 

The report provides a regional outlook covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific holds the command over the global residential architectural coatings market and is expected to dominate the overall market during the forecast period. The APAC architectural coatings market is driven by the growing population and economic growth. Both the residential and non-residential sectors in China and India are expected to develop during the forecast period, which, in turn, will drive the demand for architectural coatings from this region. 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. In China, government spending has been increasing, in order to construct affordable housing facilities, to cater to the housing demand. Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, to withstand the expanding industrial and service sectors, resulting in significant growth of the Chinese construction industry in recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country. Therefore, the growing residential and commercial construction activities in the region are expected to drive the market for architectural coatings in Asia-Pacific, over the forecast period.

 

Segment Covered

The report on the global residential architectural coatings market covers segments such as application, distribution channel, consumer type, resin type, and technology. On the basis of application, the sub-markets include exterior and interior. On the basis of distribution channels, the sub-markets include company-owned stores, independent distributors, large retailers, and wholesalers. On the basis of consumer type, the sub-markets include DIY consumers and professional consumers. On the basis of resin type, the sub-markets include acrylic and alkyd. On the basis of technology, the sub-markets include waterborne, solvent-borne, and powder.

 

Companies Profiled:

The report provides profiles of the companies in the market such as PPG Industries, Asian Paints, Nippon Paints, The Sherwin-Williams Company, RPM International Inc., Sumter Coatings, Axalta Coatings, Midwest Industrial Coatings Inc., The Valspar Corporation, and BASF SE.

 

Report Highlights:

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 residential architectural coatings market. Moreover, the study highlights current market trends and provides forecasts for 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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