Architectural Coatings Market: Quantitative Market Analysis, Current and Future Trends

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.

To get an outlook of the report, Read Report Overview

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.

For Right Perspective & Competitive Insights, Request for a Sample here

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.

To get an outlook of the report, Request Customization

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.

Global Emission Regulations Create Huge Demand for Low and Zero VOC Architectural Coatings Products

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.

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.