Architectural Coatings Market Is Likely to Experience a Tremendous Growth by 2030

December 04, 2023 05:48 PM GMT | By EIN Presswire
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Architectural coating market was valued at $63.3 billion in 2020, and is projected to reach $107.9 billion by 2030, growing at a CAGR of 5.6% from 2021 to 2030

PORTLAND, OREGON, UNITED STATES, December 4, 2023 / -- According to a recent report by Allied Market Research, the global architectural coatings market exhibited robust growth, generating $63.3 billion in 2020 and is anticipated to reach $107.9 billion by 2030, with a noteworthy CAGR of 5.6% from 2021 to 2030. The report delves into a thorough analysis of market dynamics, encompassing changing trends, the value chain, key segments, investment prospects, regional dynamics, and competitive landscape.

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The market's growth is attributed to the thriving construction industry and the increased adoption of powder coatings and water-borne formulations. However, challenges such as high production costs and stringent regulations on VOC emissions hinder market expansion. On a positive note, the rising development of bio-based architectural coatings presents lucrative opportunities in the near future.

Covid-19 Scenario:

The architectural coatings market faced disruptions due to supply chain challenges induced by lockdown measures during the COVID-19 pandemic. Work stoppages resulted in financial losses for businesses, impacting both paint and coating sectors and the construction industry. Limited workforce availability due to social distancing norms further affected production and construction processes, contributing to the market's challenges.

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The report offers a detailed segmentation of the global architectural coatings market based on resin type, technology, end-user industry, function, and region.

Resin Type:

Acrylics held the highest market share in 2020, accounting for a quarter of the total share, with a projected continued leadership status.
Alkyds are estimated to experience the fastest CAGR of 7.9% from 2021 to 2030.

Water-borne coatings dominated the market in 2020, contributing to three-fourths of the global architectural coatings market and expected to maintain its lead position.
Water-borne coatings are projected to have the highest CAGR of 6.2% from 2021 to 2030.

Asia-Pacific contributed the highest share in 2020, accounting for over two-fifths of the total share and expected to continue its dominance by 2030. The region is also projected to manifest the largest CAGR of 6.1% during the forecast period.
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Key players in the global architectural coatings market, as discussed in the research, include Asian Paints, PPG Industries, Nippon Paints, Axalta Coatings, The Sherwin-Williams Company, RPM International Inc., Midwest Industrial Coatings Inc., The Valspar Corporation, BASF SE, and Sumter Coatings.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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