Global architectural coatings market is expected to flourish at a significant CAGR over the forecast period. Rapid pace in real estate coupled with increasing demand for commercial spaces is one of the major growth drivers of the global architectural coatings market. Additionally, evolving trend of frequent remodeling and growth in repainting activities is anticipated to strengthen the growth of the architectural coatings market during the forecast period. Moreover, the global architectural coatings market is expected to garner noteworthy revenue by the end of 2024.
Asia Pacific grabbed the highest percentage share in overall architectural coatings market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. Rise in the infrastructure development activities is expected to intensify the growth of the Asia Pacific architectural coatings market. Moreover, presence of major players in the region is anticipated to positively impact the growth of the architectural coatings market in Asia Pacific. China is the major contributor to the growth of global architectural coatings market. Europe is also expected to showcase significant growth in the architectural coatings market over the forecast period.
Increasing Number of Commercial Building in the World
Rising number of commercial spaces across the globe is anticipated to trigger the demand for architectural coating during the forecast period. Moreover, evolving trend of frequent remodeling and repainting is envisioned to strengthen the growth of the architectural coating market.
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Innovation and Technological Developments
Advances in architectural coatings and development to new architectural coatings by major manufacturers are expected to foster the growth of the global architectural coatings market. Moreover, recent innovations such as development anti-bacterial and anti-odor technologies are anticipated to bolster the growth of the architectural coating market.
However, volatility in the price of the raw material is expected to hamper the growth of the global architectural coatings market.
The report titled “Architectural Coatings Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global Architectural coatings market in terms of market segmentation by component, by technology, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global architectural coatings market which includes company profiling of Akzo Nobel NV, Akzo Nobel NV, The Sherwin-Williams Company, RPM International Inc., The Valspar Corporation, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., Sherwin Williams, Arkema SA and Berger Paints. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Architectural coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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