Architectural Coatings are made up of different solvents and are available in various types. The total market of Architectural Coatings is expected to grow at a CAGR of about 6% during the forecast period i.e. 2018-2023, the forecast period. Owing to its increased durability, temperature resistance, Corrosion resistance and less fire hazard risks. It is being used in various residential and commercial sectors. In 2017, Asia-Pacific comprised of the highest market share.
What are Architectural Coatings?
Architectural coatings are those which include paints, sealers, and specialty coatings for building and construction. They are designed to provide a protective and decorative layer on the surface of an architectural fixture in both indoor and outdoor applications. Most of the coatings are applied to surfaces using sprayers, rollers and brushes. Powder particles or liquid film coatings are converted into solid film coatings through film drying, curing or forming processes like cross-linking evaporation, coalescence or fusion bonding.
If coatings are to expose to an area containing high moisture, architectural coatings will withstand to high moisture level by maintaining substrate adhesion and will have high stain resistance and scrubbing. Architectural coatings which are applied on the exterior parts of structures will withstand to climate changes including freeze, thaw cycles and to rain.
This report incorporates an in-depth assessment of architectural coatings market by materials, type, applications and geography.
What are the major applications of Architectural Coatings?
Architectural Coatings possess a number of advantages such as temperature sensitivity, contamination, and chemical compatibility. Hence, they are widely used in commercial, industrial, residential and areas. Architectural Coatings are usually designed or specified for a certain type of building surface or structure which include basements, bridges, walls, pavements, ceilings, decks, floors, foundations, roofs, tunnels, walkways.
Market Research and Market Trends of Architectural Coating:
- With the increase in the awareness regarding coatings with less volatile organic compounds and implementation of safety regulations, increase in residential maintenance activities which usually involve recoating the existing structures, the growth of the architectural coating is significant.
- The reason for the demand for architectural coatings in the market is because of the rising requirement for new buildings in the non-residential sector and renovation activities across the globe. With the increase of need for sustainable products in interior applications and the increased demand for low-odor and higher durability coatings is boosting the demand for architectural coatings with low Volatile Organic Compounds emissions.
- With the advent of biotechnology, the architectural coatings industries led to the emergence of new innovation called “Smart” surfaces that are capable of automatically recognizing the environment and reacting to it. Those which currently introduced are functional additives which are naturally occurring additives and are designed to provide intelligence to coatings. Some of the intelligence they provide are self-healing, detoxification, self-degreasing surfaces and nerve agent neutralizer.
- January of 2018: During the first quarter of 2018, RPM International Inc. has acquired Key Resin Company (KRC), a leading producer of polymer floorings and coatings.
- June 2017: The Sherwin-Williams Company had completed the acquisition of The Valspar and became a global leader in the paints & coatings industry.
- April of 2017: The Asian Paints subsidiary, Berger International had acquired Causeway Paints Lanka Pvt. Ltd in Sri Lanka.
Who are the Major Players in Architectural Coatings market?
The companies referred to in the market research report includes Key industry players in the Architectural Coatings market. They are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan) and Asian Paints Ltd (India) among others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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