Architectural Coatings Market is Forecasted to Reach US$ 95.0 Billion in 2028, Says Stratview Research

The global architectural coatings market is projected to witness a growth rate of 2.6% annually from 2023 to 2028, with an anticipated size of US$ 95.0 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global architectural coatings market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights

Segment Insights on the Architectural Coatings Market:

The report dives deep into the segmentation of the Architectural Coatings market based on critical parameters:

Based on Resin Type - The market is bifurcated into Acrylics, Polyurethanes, Epoxy, Polyester, and Others. Acrylics remain the biggest demand generator for architectural coatings in the foreseeable future. The key factor driving the acrylic segment dominance is the greater need for safe, high-performance coatings, which has increased the demand for acrylic coatings overall. Furthermore, a paradigm shift from solvent-borne to water-borne assures a gargantuan demand for architectural coatings in the years to come.

Based on the Technology Type - The market is segmented as water-borne, solvent-borne, and powder. Water-Borne remains at the nucleus for all the leading market stakeholders serving the architectural coatings market as the demand for water-borne coatings has increased due to its low VOC emission and environmentally safe nature. It is also anticipated that water-borne will remain the most preferred technology type in the market in the foreseeable future.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

Asia-Pacific is the largest market for architectural coatings over the forecast period. In addition to that, the region is likely to witness healthy market growth in the coming years. The growing population and developing economy are the main drivers of the APAC Architectural Coatings industry. During the projection period, China and India's residential and commercial sectors are both anticipated to grow, which would in turn fuel this region's need for architectural coatings.

Architectural Coatings Market Drivers:

Some of the key drivers listed in the report are given below.

• The global construction industry is growing with the rising population in emerging countries and their commercial and industrial growth. According to Oxford Economics, worldwide spending for infrastructure will exceed $9 trillion by 2025, consequently leading to the growth of the architectural coatings market.
• Governments worldwide are also framing fiscal policies, such as tax incentives, subsidies, and infrastructure spending to encourage construction activity.
• For instance, investments in public infrastructure like educational institutions, healthcare centres, and government offices create a huge demand for construction services which will ultimately drive the architectural coatings market globally.

Top Companies in the Architectural Coatings Market:

The global market for Architectural Coatings is highly concentrated, with the top four companies capturing a lion’s share. Apart from technological expertise and financial capabilities, the growth of companies is directly dependent on government support and overall industry conditions. Stratview Research has identified the following companies as the top market players:

-          AkzoNobel N.V.

-          Asian Paints

-          BASF SE

-          Jotun

-          Kansai Paint Co., Ltd.

-          Masco Corporation

-          Nippon Paint Holdings Co. Ltd.

-          PPG Industries, Inc.

-          The Sherwin-Williams Company

Note: The above list does not necessarily include all the top players in the market.

What Deliverables Will You Get in this Report?

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About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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