Architectural Coatings Market to Expand at a 4.52% CAGR by 2032

States Fact.MR - Seite 2

US$ 77,788 Mn

Project Market Forecast Value in 2032

US$ 121,000 Mn

Global Growth Rate (2022-2032)

4.5%

Key Takeaways:

• By resin type, UV curable resins are estimated to hold 40% market share for architectural coatings.
• By application type, residential sector is projected to account for more than 50% market share for architectural coatings.
• North America to account for 35% of the market share in architectural coatings business.
• In Asia Pacific, the architectural coatings sector is estimated to have a nearly 45% market share.
• The top five countries driving demand for architectural coatings are China, India, Turkey, Germany, and Spain.

Growth Drivers:

• Rapid growth in the construction sector to spur the demand for architectural coatings.
• The market for architectural coatings is being driven by a desire to renovate, particularly in the residential sector.

Key Restraints:

• Regulations regarding VOC emission is posing as a challenge for architectural coatings manufacturers.

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Competitive Landscape

With new product releases, acquisitions, and the establishment of new facilities in numerous regions, the market's major competitors are focusing on global expansion.

• PPG Industries Inc. has introduced PPG PITT-CHAR NX, an enhanced passive fire-protection coating. During transit, manufacture, and construction, the coating eliminates the possibility of cracking and delamination.
• Sherwin Williams, another major competitor, has created the Minwax performance series, which features a revamped color palette and an interior stain design center.

Key players in the Architectural Coatings Market include:

• PPG Industries
• Akzo Nobel
• The Sherwin-Williams Co
• RPM International Inc.
• E. I. du Pont de Nemours and Company
• Nippon Paint Holdings Co.
• Axalta Coating Systems
• The Valspar Corp
• BASF Coatings
• Kansai Paint Co. Ltd
• Asian Paints Ltd
• Behr Process Corp

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