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Global Architectural Coatings Market - Segmented by Construction, Application, Technology, Resin, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Global Architectural Coatings Market - Segmented by Construction, Application, Technology, Resin, and Geography - Growth, Trends, and Forecast (2018 - 2023)

In 2017, the global architectural coatings market was valued at USD 63,390.51 million and is expected to register a CAGR of about 5.56%, in terms of revenue, during 2018-2023 (the forecast period). Architectural coating, owing to its corrosion and temperature resistance, increased durability on end products, and low fire-hazards risks properties, is becoming an integral part of various commercial and residential sectors. In 2017, Asia-Pacific dominated the global market and accounted for around 32% share. Increasing housing construction activities in emerging economies of Asia-Pacific, coupled with the rising commercial activities in the United States, are expected to boost the market growth, during the forecast period.

Increasing Housing Construction Activities in Emerging Economies of Asia-Pacific

In Asia-Pacific, the emerging economies, such as China, India, Indonesia, Vietnam, and the Philippines, have been witnessing a growth in the number of construction activities. Robust economic performance as of 2017 is expected to further accelerate the growth in the number of housing construction activities in the region. In Indonesia, millennial accounts for over 50% of the productive population. With the growing youth population in the country, the housing demand has also been increasing, simultaneously. In order to cater the growing demand for affordable houses, the construction of housing units has been increasing in the country. In 2016, the country constructed about 700,000 affordable houses. Besides this, in 2017, the country was on a track to build about 900,000 new affordable houses.

In India, the government has been actively favoring the housing construction, where it aims to provide homes to about 1.3 billion people. The country is likely invest around USD 1.3 trillion in housing over the next seven years, where it is likely to construct 60 million new homes. By 2014, the availability of affordable housing is expected to rise up to 70% in the country. Therefore, with such a boom in housing construction activities in the emerging economies of Asia-Pacific, the demand for architectural coatings is projected to increase, substantially, during the forecast period.

Water-borne Technology – the Dominant Technology Type

The core reason for manufacturers to switch from solvent-borne coatings to water-borne coatings is the VOC released from solvent-borne coatings. Also, other properties, like low odor, more durability, and block resistance, make water-borne coating a preferable option. There are many regulations from several governments that support the use of water-based coatings. REACH, a government initiative in Europe, was adopted to improve human health and the environment and avoid the risks caused by chemicals, along with fueling up the competition in the European chemicals industry. Promoting alternative methods, for the hazard assessment of substances, in order to reduce tests on animals, is growing the demand for coatings with low VOC-content, such as water-borne coatings. In recent times, there has been a propensity among users to use coatings with high usability and water clean-up characteristics, water-borne coatings meet the requirements and facilitate low viscosity, without the addition of low-molecular weight monomers.

Asia-Pacific Dominating the Market Growth

In 2017, Asia-Pacific accounted for the largest share of the global architectural coatings market, and is expected to maintain its position in the coming years as well. This growth is majorly driven by China, as the country is expected to register a CAGR of 7.82%, in terms of volume, by 2023. With the improving financial status of consumers, the purchasing power of middle-class consumers has increased, which, in turn, is accelerating the demand for infrastructure consequently, making the countries, such as India, China, Indonesia, and Vietnam, areas of immense potential and opportunities.

Key Developments in the Market

June 2017: The Sherwin-Williams Company acquired The Valspar Corporation, to become a global leader in the paints & coatings industry.
April 2017: Asian Paints subsidiary, Berger International acquired Causeway Paints Lanka (Pvt) Ltd (CPLPL) in Sri Lanka.
April 2017: NBCC Ltd signed a deal with Poland-based Bolix SA, a fully owned subsidiary of Berger Paints India Ltd, for energy-efficient building solutions.

Major Players: PPG, Sherwin Williams, Akzonobel, and Nippon Paints, amongst others.

Reasons to Purchase this Report

The growing automotive production and sales expected to drive the market
Various perspectives of the market with the help of Porter’s five forces analysis
The product type that is expected to dominate the market
The region that is expected to witness the fastest growth rate during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Housing Construction Activities in Emerging Economies of Asia-Pacific
4.1.2 Increasing Commercial Construction Activities in the United States
4.2 Restraints
4.2.1 Rise in Prices of Raw Materials
4.3 Opportunities
4.3.1 Recovering Construction Industry in South-America
4.3.2 Introduction of Fluoropolymer Coatings
5. Market Segmentation and Analysis (Market Size, Share, and Forecast)
5.1 By Construction
5.1.1 Commercial
5.1.2 Residential
5.2 By Application
5.2.1 Professional
5.2.2 DIY
5.3 By Technology
5.3.1 Water-borne
5.3.2 Solvent-borne
5.4 By Resin Type
5.4.1 Vinyl Acrylate
5.4.2 Pure Acrylics
5.4.3 Acetates
5.4.4 Styrene Acrylics
5.4.5 Alkyd
5.4.6 Others
6. Regional Market Analysis (Market Size, Share, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Australia & New Zealand
6.1.7 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 Russia Federation
6.3.5 France
6.3.6 Spain
6.3.7 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 Nigeria
6.5.3 Qatar
6.5.4 Kuwait
6.5.5 UAE
6.5.6 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)
8.1 Akzo Nobel
8.2 Asian-Paints
8.3 Berger Paints
8.4 Carpoly
8.5 Chromology
8.6 DAW SE
8.7 Hempel
8.8 Jotun
8.9 Kansai Paints
8.10 Masco
8.11 Nippon paint
8.12 PPG
8.13 RPM International
8.14 Sherwin Williams ( including Valspar)
8.15 Tikkurila Oyj
...List not exhaustive
9. Disclaimer
**Subject to availability on public domain

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