Architectural Coatings Market: Regional Growth Trends Focusing on Manufacturers Recorded during 2018-2027

Posted on 2019-05-13 by Mark Hub in Chemicals // 0 Comments

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In the last few years, governments across various countries have introduced stringent regulations on emission from Volatile Organic Compounds (VOC) products used in paints and architectural coatings. Increasing consumer awareness of the negative effects of VOCs is driving demand for low and zero VOC coatings and paints.

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Increasing number of companies are working on projects where LEED (Leadership in Energy and Environmental Design) certification is required. Varying degree of accepted VOC levels in LEED certification is accelerating the demand for low and zero VOC paints and coatings.

Manufacturers in architectural coatings market are focusing on maintaining balance between low VOC level and high-quality products to meet consumer demand and meet the performance gap between low VOC and traditional coating products.

Moreover, green building standards in some countries relating to indoor air quality and growing desire for low odor interior has also resulted in increased production and demand for ultra-low and zero VOC paints and architectural coatings.

Top 6 Players Hold Nearly 1/3^rd Revenue Share in Architectural Coatings Market

Top 6 players in the architectural coatings market account for nearly 1/3^rd of the revenue share, upheld by their operations worldwide and robust sales infrastructure. The leading players in the market are focusing on global expansion with new product launches, acquisitions, and opening new facilities in various countries.

PPG Industries Inc., one of the top 6 players with focus on acquisition and enhancing distribution capabilities has acquired ProCoatings, architectural coatings and paint wholesaler in The Netherlands. Moreover, the company is also developing new distribution center for architectural paint and coatings in Texas.

Another major player, Sherwin Williams has introduced Minwax performance series with redesigned color palette and interior stain design center. Meanwhile, Axalta has also opened world’s largest coatings research and development center in Philadelphia.

Strengthening manufacturing and distribution center is one of the key strategies adopted by leading players to expand their global footprint in the architectural coatings market.

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Immense Growth in Construction Sector Boosts Demand for Architectural Coatings

Growth in people migrating to urban areas is resulting in the development of affordable housing and infrastructure by the construction industry. This is driving the demand for various equipment and architectural coatings materials used in the construction of residential as well as commercial complexes.

China, India, and the US are likely to see a significant growth in construction in the near future, according to the report named Global Construction 2030, by expert team from Global Construction Perspectives and Oxford Economics. As per the report, India is likely to grow twice as fast as China by 2030. Meanwhile, most of the construction growth in the US is expected to tilt towards the southern states.

The demand for exterior architectural coatings to protect a building from moisture, UV radiations, and microbes is increasing. Moreover, the growing demand for a greater variety of colors, with better consistency and durability is also resulting in manufacturers providing a wide range of eco-friendly, higher quality architectural coatings. Rise in the renovation of existing construction is also driving demand for both interior and exterior architectural coatings.

Competitive Landscape

The architectural coatings market report provides information on all the leading companies in the market. The report also provides SWOT analysis along with the dashboard view of the major players in the architectural coatings market. Key developments, market share, business strategies of each player in the architectural coatings market is offered in the report.

Increasing number of companies in the architectural coatings market are planning to expand themselves in regional markets through partnerships and mergers and acquisitions. New product development is also one of the strategies of most of the key players in the architectural coatings market.

PPG Industries Inc. has launched advanced passive fire-protection coating known as PPG PITT-CHAR NX. The coating eliminate cracking and delamination risk during transportation, fabrication and construction.

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