Over the past few years, the architectural coatings industry has undergone a great change which acts in favor of the market growth. Due to the rising disposable income, people are making a high investment in housing. This, as a result providing significant boost to the global market for architectural coatings. Market Research Hub (MRH) has freshly publicized a new study titled “Architectural Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025” to its vast repository, which estimates and forecasts the architectural coatings market on the global, regional and country levels.
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The study provides forecast between 2017 and 2025 based on volume (Tons) and revenue (US$ Mn) with 2016 as the base year.
This 268-page intelligent study provides clear overview of the market by highlighting key drivers, trends and factors associated with the market and helping in market expansion throughout the given forecast tenure. Analysts have found that demand for architectural coatings is primarily driven by the rising requirement for new buildings in the non-residential sector and renovation activities across the globe. The prime reason behind is that it is different from that of other industrial coatings. Also, it is designated for specific applications such as roof coatings, wall paints, or deck finishes and are mainly employed for performing certain decorative, durable, and protective function.;
Some of the prime highlights mentioned in the study include:
For a clear understanding, the report majorly focuses on some of the prime regions including the Middle East and Africa (MEA), Japan, Europe, Asia Pacific excluding Japan (APEJ), North America, and Latin America. According to the findings, the global architectural coatings market is likely to be worth US$87,500.4 mn by the end of 2025 from US$53,264.4 mn in 2016. During the forecast period of 2017 and 2025, the global market is expected to surge at a CAGR of 5.7%.
The report finds that rapid expansion in the building and construction industry is a crucial factor driving the global architectural coatings market. Also, growth in environmental awareness has led to the introduction of quality products in the architectural coatings market. This is also a contributing factor towards market growth.
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In terms of geography, with significant contribution from China, Asia Pacific dominated the global architectural coatings market in 2016. Rapid urbanization is fuelling the architectural coatings market in China.
The research has been further segmented and analyzed on the basis of resin, technology, and end user. Resin segment has been categorized into acrylics, polyurethane, vinyl/styrene, alkyds and other resins. The technology segmentation of the report covers water-based technology, solvent-based technology and others. The architectural coatings market, by end user has been categorized into residential and non-residential.
At the end, the report mentions name of the leading manufacturers in architectural coatings market, such as The Sherwin –Williams company, PPG Industries Inc., and Akzo Nobel.
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