Architectural Coatings Market Report Overview
The architectural coatings market is witnessing significant growth owing to the rising demand for protective coatings, and infrastructure development. Architectural coatings are coatings in the form of paints, primers, sealers, inks, and other related goods, which are used as roof coatings, wall paints, or deck finishes for coating commercial, industrial, and residential buildings to secure these buildings from ultraviolet radiations, microbes, and moisture. It also enhances their appearances.
Architectural Coatings Market Dynamics and Trends
Consumers are increasingly demanding architectural coatings that are more environmentally friendly and durable. Companies are responding to this demand by developing new products, such as waterborne coatings, powder coatings, and scratch-resistant coatings.
Product innovation: Companies are constantly innovating and developing new architectural coating products to meet the changing needs of consumers. For example, in April 2019, AkzoNobel developed a scratch-resistant powder coating for the architectural market in both matte and satin finishes.
Introduction of digitally-enabled service platforms: Companies are also introducing digitally-enabled service platforms to make it easier for customers to find and connect with professional painters and manage their painting projects. For example, in October 2019, PPG Industries, Inc., launched PPG Services, a digitally-enabled service platform to make it easy for businesses with multiple commercial facilities across the U.S. to identify and connect with established professional painters and then manage and schedule general painting maintenance projects.
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Overall, the architectural coatings market is poised for continued growth in the coming years, driven by increasing demand for sustainable and innovative products, product innovation, and the introduction of digitally-enabled service platforms.
Architectural Coatings Market Segmentation Analysis
By Resin Type
- Acrylic Product
- Alkyd Product
- Vinyl Product
- Polyurethane Product
- Others
By Technology
- Waterborne Coatings
- Solventborne Coatings
- Powder Coatings
By Application
- Residential
- Non-Residential
By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
Major Companies Covered
PPG Industries, Inc., Akzo Nobel N.V., Kansai Paints Co., Ltd., Asian Paints Limited, The Sherwin-Williams Company, and Nippon Paint Holdings Co., Ltd.
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