Market Overview:
Architectural Coatings are used to coat and paint the houses and buildings. The main functions of these coatings are adhesion, wettability, corrosion resistance and weather shield. The architectural and construction industry have been specifying and utilizing protective coatings for decades. These coatings work to prevent deterioration caused by impact and environmental factors to maintain durability and aesthetics while greatly reducing maintenance costs and increasing the life of the finish.
A portion of the noticeable elements that emphatically impact the development of Architectural Coatings Market are quick industrialization, expanding lodging for the extending masses, and consistent development of construction industry. Fast urbanization combined with expanding per capita discretionary cash flow in rising economies are anticipated to drive the development of the market amid the evaluation forecast period. Additionally, rising interest for inside decorative coatings and expanding interest in construction activities is further estimated to fuel the market development over the figure time frame.
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Competitive Players:
The key players in the Global Architectural Coating Market are BASF Coatings GmbH (Germany), PPG Industries Inc. (the U.S.), AkzoNobel N.V. (the Netherlands), Kelly-Moore Paint Company, Inc. (the U.S.), The Sherwin-William Company (the U.S.), The Valspar Corporation (the U.S.), Nippon Paint Co Ltd (Japan), RPM International Inc. (the U.S.), Kansai Paint Co., Ltd (Japan) and Asian Paints Ltd (India) among others.
Market Segmentation:
On the basis of Type, the market is segmented into acrylic, epoxy, polyurethane, polyester and others. Acrylic coating has major end uses in the building and construction, aerospace, industrial, automotive, marine and others. The properties such as adhesion to non-porous surfaces, good storage and durability, and improved solubility which ensures ease in application. It is anticipated that there will be a significant increase in the growth of Acrylic Market ever since the industrial sector is burgeoning and there is a need to safeguard industrial machinery and equipment. Epoxy Coating generally consists of two parts which are mixed with epoxy resin and it cross linked with coreactant or hardener. This process is called as curing in which the liquid epoxy coating is converted into hard and durable epoxy coating after application to a substrate. These coatings are famous for quick drying, tough and protective coating. Their low volatility is an advantage for using them in industrial applications and also reduces the flammability issues with solvent borne coatings. Epoxy coatings are resistant to UV, heat and temperature changes and it can be anticipated that as the U.S. E.P.A laid regulations on manufacturing coatings in order to control the air pollution, there will be a significant growth in the usage of epoxy based coatings to reduce air pollution causing agents as they possess low VOC’s and low volatility. As the world is shifting towards environmental friendly compounds due to the pressure by global warming and regulations laid by the government agencies it can be anticipated that there will be as significant increase in the usage of epoxy resin coating in this forecast. Polyurethane is a polymer which is joined by urethane units. It is a thermal setting polymer and it is not impulsive in nature on application of heat or any other temperature changes. Polyurethane foam obtained as spray which has outstanding insulating qualities. From maintaining optimum temperature, to lowering noise levels. Rigid polyurethane is commonly used in the roof and wall insulation. This advantage has specific use in the developed countries and it can be anticipated to see a growth in the usage of polyurethane as insulating coating in the developed countries. Polyester coating market is anticipated to increase dramatically in the forecast period. Global Architectural Coatings Market is segmented based on technology as water borne and solvent borne technology. Solvent borne coatings are made up of liquefying agents and these agents can be evaporated upon exposure to atmospheric oxygen via chemical reaction. Although, they are less vulnerable to humidity temperature changes. Moreover this technology is getting replaced by water-borne technology due to the emission of VOC’s into the air causing air pollution by means of evaporation. Solvent based coatings has no resistance for the oxidation by atmospheric oxygen and solar radiation.
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Regional Analysis:
In Asia Pacific, nations are encountering rising wages, enhancing ways of life and expanding residential establishment, while work and creation costs remain moderately low. North America is relied upon to enroll a better than expected development in the Architectural Coating Market because of the developing ecological concerns and mindfulness with respect to the unsafe parts of solvent based coatings. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of Architectural Coatings Market in EU. Paints and Coatings Industry in Latin America is experiencing a decline in the demand due to the instability in the regional economy.
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