Exterior Architectural Coating Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Exterior Architectural Coating Market: Snapshot
The global exterior architectural coating market is anticipated to rise at a telling level of growth in the foreseeable future due to increasing construction assignments in developing countries such as Brazil, India, Singapore, and China. In 2015, the market had demonstrated a decent growth. Moving further, the market could ride its growth on the surge in industrial expansion and high demand for residential architectural coating. Bitter weather conditions, storm, foreign particles, extreme temperatures, and UV radiations are some of the primary reasons for the increasing application of exterior architectural coating on building surfaces.
Another key factor predicted to augment the demand in the global exterior architectural coating market is the growing requirement of developing infrastructure in evolving economies such as Thailand, Indonesia, and Malaysia apart from the aforementioned ones. This had attracted several public-private partnerships, foreign direct investment (FDI), and increasing government spending, totaling an additional boost to the growth of the overall market.
Novel technologies with different formulations, for instance, waterborne, developed by businesses such as AkzoNobel, PPG Industries, and Sherwin-Williams are prophesied to raise the expectations of growth in the global exterior architectural coating market. Most of these technologies are prognosticated to possess anti-odor and antibacterial properties. Environment-friendly products offering top-quality finishes could unveil new avenues in the market. This could be brought about by increasing research and development investments by leading players such as Nippon Paint. In 2015, in order to meet the demands in China, Axalta Coating Systems had built a new waterborne coatings plant in Shanghai.
Global Exterior Architectural Coating Market: Summary
In order to protect architectural designs from corrosion, impact and abrasion, exterior architectural coating is a must. These coatings offer longevity to buildings and provide desired protection from harsh environmental conditions.
Based on resin type, the market can be segmented into acrylic, alkyd, epoxy, polyurethane, polyester, and other. In terms of technology, water based and solvent based are the two segments of the market. On the basis of application, the market can be further classified into non-residential and residential.
The report offers an in-depth analysis of market segments and competitive landscape. It also provides drivers and restraints of the global exterior architectural coating. It also profiles key players in the market based on various attributes such as business strategies, company overview, financial overview, and recent developments.
Global Exterior Architectural Coating Market: Trends and Prospects
Shifting preference of consumers towards eco-friendly waterborne architectural coating, easy availability, and a wide variety of paints formulations are factors that will drive demand growth of the global exterior architectural coating market. These coatings are known to offer protection to buildings from extreme temperatures, severe weather conditions, UV radiations, foreign particles and storms, which is expected to supplement the demand. Fluctuating prices of raw materials such as pigments, titanium dioxide, and resins will limit the growth of the said market during the forecast period.
Based on application, the residential segment of the market is set to witness a high growth over the forecast period. The factors such as increase in disposable income, strong economic growth, improved standard of living coupled with rapid urbanizations is expected to supplement the demand growth of the market over the forecast period. Whereas, based on technology, water based segment is the chief contributor to the market. The demand for this segment is high in comparison due to its easier blending, higher opacity, accurate mixing, superior metallic control, easier application, and cleaning properties. Acrylic segment based on resin type is expected to account for a large market share in the forecast period. Improved flow, superior aesthetics, high UV resistance, durability, weather ability, stain resistance performance, and low cost are some of the factors that increase the demand growth of this segment.
Global Exterior Architectural Coating Market: Regional Analysis
The global exterior architectural coating market can be classified on the basis of geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is the key contributor to the market share, and is expected to drive the market growth in the forecast period. Due to the presence of manufacturing giants in the region, Asia Pacific is deemed to grow. In addition, key companies of North America and Europe are moving their production facility to this region, thereby supplementing the market growth.
Though, the Middle East and Africa and Latin America have not shown a considerable rise in the market overall in given past, but on account of significant development of infrastructural facilities and rising construction of residential and commercial spaces to cater to the increasing demand for houses and offices, these regions are expected to drive the growth of the industry in the said period.
Global Exterior Architectural Coating Market: Competitive Landscape
RPM International, Arkema SA, Kansai Paint, BASF, Nippon Paint, Benjamin Moore, Cromology, Diamond Vogel, Cabot Corporation, Dow Chemical Company, AkzoNobel, PPG Industries, Sherwin-Williams, Berger Paints, DAW SE, Valspar Corporation, Axalta Coating Systems, and Jotun are some of the prominent players in the global exterior architectural coating market.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report