Asia-Pacific Architectural Coatings Market Will Likely To Expand At A Steady CAGR By 2026

The architectural coatings market represents the largest segment of overall coatings market. Architectural coatings are the coatings such as paints, powder and others which are used to coat homes and buildings. Most of the architectural coatings are designed for a specific use such as interior and exterior wall painting, roof coatings and floor coatings. These coating provides certain protective, decorative and durable functions to infrastructure. The acrylic segment is the highest growing segment owing to its advantages such as wide range of applications, oxidation and weathering resistance, durability and high coating quality. Whereas the Asia-Pacific region is most dominating as well as fastest growing region due to increasing applications, infrastructural developments and technological advancements in the region.
Asia-Pacific architectural coatings market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.

Drivers: Global Architectural Coatings Market

  • Rising demand from construction industry
  • Rising paint consumption in emerging economies
Restraint:
  • Fluctuation in prices of raw materials
Opportunities:
  • Growing investments in emerging markets
  • Increase in reconstruction spending in the U.S.
Challenge:
  • Environmental concerns regarding volatile organic compound (VOC)
Market Trends
Global architectural coatings market is segmented into four notable segments which are resin type, technology, function and application.
  • On the basis of resin type, the market is segmented into acrylic, alkyds, epoxy, polyurethane, polyesters, vinyl acetate-ethylene (VAE) and others. In 2019, acrylic segment is expected to dominate the market with the largest market share due to high demand of the acrylic resin in exterior painting and their preference due to long lasting life of coating in architecture sectors.
  • On the basis of technology, the market is segmented into waterborne and solventborne.
  • On the basis of function, the market is segmented into ceramics, lacquers, paints, powder coatings, primers, sealers, stains, varnishes and others. In 2019, paints segment is expected to dominate the market with the largest market share due to their highest demand in the exterior and interior decoration of architectural sites and growing infrastructural development in emerging economy adopting the highest utilization of paints.
  • On the basis of application, the market is segmented into residential, commercial, coatings for wood, floor coatings, and roof coatings.

Competitive Analysis: Asia-Pacific Architectural Coatings Market

Some of the major players operating in this market are Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, NIPSEA Group, BASF SE, Asian Paints Limited, Axalta Coating Systems, LLC, Brillux GmbH & Co. KG, Colorado Commercial & Residential Painting, IFS Coatings, Kansai Paint Co., Ltd., KEIM Mineral Coatings of America, Inc., Kelly-Moore Paints, Masco Corporation, RPM International Inc. among others.
Product Launches
  • In August 2017, PPG Industries, Inc. has launched PPG TIMELESS paint and primer. This paint can be utilized for exterior and interior paintings. This paint is available in THE HOME DEPOT’s locations across the U.S. This product launch helps the company to attract DIYers.
  • In February 2016, BASF SE launched Acronal 7079 and AQAcell HIDE 6299, the polymer dispersion products, at Paint India 2016 in Mumbai. These products are used in order to keep external buildings smooth and sustainable, while reducing titanium dioxide (TiO2) emissions and improving carbon footprints. With this launch BASF also showcased additives, pigments, resins and dispersions with the commitment to grow in the paint industry.
  • In January 2016, The Sherwin-Williams Company launched the latest version of ColorSnap, which is their color selection system offered to customers. This system provides ease and efficiency to customers in color selection processes. This development helps the company to attract more customers and generate revenue through them.

Research Methodology: Asia-Pacific Architectural Coatings Market

Primary Respondents: Key Opinion Leaders (KOL’s): Product Experts, Engineers, Service Providers, Industrial Professionals. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.
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