Global Residential Architectural Coatings Market 2015-2019
About residential architectural coatings
Coatings are products used to protect a surface and/or enhance its appearance. Architectural coatings are applied to commercial and residential buildings. They serve to protect a building from elements such as moisture, UV radiation, and microbes. Paints, primers, lacquers, varnishes, and stains are some of the major types of architectural coating products. These products are formulated using various types of resin such as acrylic, alkyds, polyester, and polyurethane. The market may be broadly classified into two major types of coating technology: solvent-borne and water-borne coatings.
ver the years, the residential architectural coatings market has seen continuous innovation, with vendors focusing on the introduction of eco-friendly products and products with functional benefits. Today, residential architectural coatings are developed to meet customer needs and are largely customized to offer benefits such as graffiti-resistance and self-cleaning characteristics.
Technavio's analysts forecast the global residential architectural coatings market to grow at a CAGR of 6.23% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global residential architectural coatings market for the period 2014-2019.
To arrive at a ranking of the leading vendors of the market, and to calculate the market size, the report considers the revenue generated through the sales of residential architectural coatings by vendors. It also presents the vendor landscape and a corresponding detailed analysis of the top ten vendors in the global residential architectural coatings market. The report also provides data on the different segments of the market, which are based on the following criteria:
Technavio Announces the Publication of its Research Report – Global Residential Architectural Coatings Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Residential Architectural Coatings Market: Akzo Nobel, Asian Paints, BASF, Benjamin Moore, DAW, Masco, Nippon, PPG, Sherwin-Williams and Valspar
Other Prominent Vendors in the market are: Adex, Axalta, Berger Paints, Brillux, Colorado Paint, Dulux Australia, Dunn-Edwards, IFS Coatings, Jotun, Kansai, KEIM Mineral Coatings of America, Kelly-Moore Paints, Materis, Meffert, Morrells, Pintuco, RPM International, Schaepman, Tikkurila and Tnemec
Commenting on the report, an analyst from Technavio’s team said: “Vendors are focusing on unique color schemes to differentiate their products and attract buyers. Unique colors are being introduced by vendors, followed by the implementation of marketing communication programs to enhance brand awareness. The market is expected to see an increase in the use of different color combinations to enhance the aesthetic appeal of the coated surface. Key vendors in the market are also focusing on the introduction of metallic paints that end-users can use to highlight surfaces. Tikkurila offers such products.”
According to the report, Increasing investments in the development of infrastructure in APAC and Latin America have contributed to the growing demand for residential architectural coatings, especially from the commercial sector. The growth of the housing market in various countries in APAC and Latin America such as Peru, Colombia, Chile, India, Thailand, Philippines, and Indonesia has led to an increase in demand for residential architectural coatings from end-users for interior applications.
Further, the report states that with an increase in the number of products being introduced, there is a lack of product focus in the market, restricting market growth. A large number of architectural coating products with a different mix of formulations and characteristics are available in the market. The quality of performance of these products also varies. The availability of such a wide range of products in the market, combined with a lack of consumer awareness, is resulting in losses for vendors for certain products.
Akzo Nobel, Asian Paints, BASF, Benjamin Moore, DAW, Masco, Nippon, PPG, Sherwin-Williams, Valspar, Adex, Axalta, Berger Paints, Brillux, Colorado Paint, Dulux Australia, Dunn-Edwards, IFS Coatings, Jotun, Kansai, KEIM Mineral Coatings of America, Kelly-Moore Paints, Materis, Meffert, Morrells, Pintuco, RPM International, Schaepman, Tikkurila, Tnemec