Architectural coatings include paints, specialty coatings, sealers, and other coatings used to coat buildings and homes. These coatings are designated to provide protective and decorative layer on architecture in both exterior and interior applications. Most of the architectural coatings are typically applied using rollers, sprayers, brushes and other applications.
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The report on the architectural coatings market provides valuable insights and forecast on the market. The information on all the important factors influencing the growth in the architectural coatings market are also provided in the report. The objective of the report is to offer exclusive information on the architectural coatings market and help companies to plan strategies accordingly. The report on the architectural coatings market also offers information on the growth opportunities.
Immense Growth in Construction Sector Boosts Demand for Architectural Coatings
Growth in people migrating to urban areas is resulting in the development of affordable housing and infrastructure by the construction industry. This is driving the demand for various equipment and architectural coatings materials used in the construction of residential as well as commercial complexes.
China, India, and the US are likely to see a significant growth in construction in the near future, according to the report named Global Construction 2030, by expert team from Global Construction Perspectives and Oxford Economics. As per the report, India is likely to grow twice as fast as China by 2030. Meanwhile, most of the construction growth in the US is expected to tilt towards the southern states.
The demand for exterior architectural coatings to protect a building from moisture, UV radiations, and microbes is increasing. Moreover, the growing demand for a greater variety of colors, with better consistency and durability is also resulting in manufacturers providing a wide range of eco-friendly, higher quality architectural coatings. Rise in the renovation of existing construction is also driving demand for both interior and exterior architectural coatings.
Global Emission Regulations Create Huge Demand for Low and Zero VOC Architectural Coatings Products
In the last few years, governments across various countries have introduced stringent regulations on emission from Volatile Organic Compounds (VOC) products used in paints and architectural coatings. Increasing consumer awareness of the negative effects of VOCs is driving demand for low and zero VOC coatings and paints.
Increasing number of companies are working on projects where LEED (Leadership in Energy and Environmental Design) certification is required. Varying degree of accepted VOC levels in LEED certification is accelerating the demand for low and zero VOC paints and coatings.
Manufacturers in architectural coatings market are focusing on maintaining balance between low VOC level and high-quality products to meet consumer demand and meet the performance gap between low VOC and traditional coating products.
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Application of UV Curable Resins Continue to Create Growth Opportunities
In recent years, there has been a rise in the use of radiation curing technology for buildings, interior and exterior coatings. Hence, the demand for UV curable resins in the architectural coatings has increased. Moreover, increasing environmental concerns and on-going legislation to limit emission from VOC is leading to the growing demand for UV curable fluorine-containing resins.
Efficiency, energy saving, and higher solid content are resulting in increasing use of UV curable fluorine-containing resins in various industries. Solvent UV curable coatings have emerged as non-flammable liquids, resulting in fire protection and reducing handling hazards as compared to other solvent-based coatings. This is also resulting in the wide application in building’s exterior and interior. Compared to traditional radiation curing systems, the UV resins based architectural coatings are gaining traction in automotive and construction industry.
Market Segmentation
The architectural coatings market is segmented on the basis of resin type, application, and formulation type. The key segments are further divided into sub-segments in order to offer clear picture on the growth of the architectural coatings market.
Based on the resin type, the architectural coatings market is segmented into Fluoropolymers, Acrylics, Metallic Additive, Urethanes, and others (epoxy, poly alkyds, and amines). On the basis of application the market segmentation includes residential and non-residential. Based on the formulation type, the architectural coatings market is further segmented into Water Bourne and Solvent Bourne.
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