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Global Architectural Coatings Market to Reach $79.5 Billion by 2026

Edition: 7; Released: June 2021
Executive Pool: 3122
Companies: 73 – Players covered include Asian Paints Limited; AzkoNobel N.V.; BASF SE; Kansai Paints Co., Ltd.; Masco Corporation; Nippon Paint Holdings Co., Ltd.; PPG Industries, Inc.; RPM International Inc.; The Jotun Group; The Sherwin-Williams Company; Valspar Corporation and Others.
Coverage: All major geographies and key segments
Segments: Resin Type (Acrylic, Alkyd, Epoxy, Other Resin Types); Technology (Water Borne, Solvent Borne, Powder Coating)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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Global Architectural Coatings Market to Reach $79.5 Billion by 2026

Architectural coatings are coatings applied on-site to the exterior and interior surfaces of commercial, residential, industrial and institutional infrastructures. Architectural coatings are primarily used for general maintenance, and decoration purposes. Demand in the global market is being fueled by the growing base of commercial buildings globally. Further, the rising use of coatings in the interiors of buildings is also aiding market growth. Renovation activity along with building & construction projects in commercial, industrial and residential sectors are creating strong demand for architectural coatings. Architectural coatings demand will especially be on the rise in countries such as China and India, owing to fast-paced urbanization and the expanding construction sector. In recent years, there has been a migration to solvent-free coatings from high and low volatility organic solvents, due to the former’s lower emissions. The strict regulations related to VOC emissions are anticipated to foster demand for eco-friendly coatings such as water-based coatings. In recent years, the demand for powder coatings is increasing due to their benefit of not having any liquid carrier and producing thicker coatings with no sagging. Powder coatings are free of solvents and release minimal amounts of VOC in the air.

Amid the COVID-19 crisis, the global market for Architectural Coatings estimated at US$59.6 Billion in the year 2020, is projected to reach a revised size of US$79.5 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Acrylic, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$50.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Alkyd segment is readjusted to a revised 4.8% CAGR for the next 7-year period. This segment currently accounts for a 12.5% share of the global Architectural Coatings market. The rising use of acrylic resins for manufacturing architectural coatings of panels, windows, and exterior and interior walls is significantly driving the demand for these resins. Alkyd based coatings also enjoy strong demand and are expected to register fast-paced growth, due to their use in metal packaging and industrial wood applications. These coatings are employed in sealers, fillers, and caulks, owing to their flexibility with regards to formulation.

The U.S. Market is Estimated at $12.4 Billion in 2021, While China is Forecast to Reach $17.3 Billion by 2026

The Architectural Coatings market in the U.S. is estimated at US$12.4 Billion in the year 2021. The country currently accounts for a 20.14% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$17.3 Billion in the year 2026 trailing a CAGR of 6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$18.4 Billion by the end of the analysis period. Asia-Pacific region is the dominant market, led by China and India, on account of the existence of several leading companies in the region. With most manufacturers moving their production to Asia on account of relatively lesser labor costs, market growth is expected to be strong. North America is another key architectural coatings market, driven by rising renovations and building reconstructions.

Epoxy Segment to Reach $6.9 Billion by 2026

Demand for epoxy resins is attributable to their increased usage in floor coatings because of their superior bond strength, durability, adhesion, corrosion resistance, anti-sagging properties, low porosity, and chemical resistance. In the global Epoxy segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$4.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2026, while Latin America will expand at a 4.3% CAGR through the analysis period. More

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Global Industry Analysts, Inc.
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