
Architectural Coatings Market Set To Hit USD 117.07 Billion By 2032 Amid Surge In Eco-Friendly Innovations And Infrastructure Demand | SNS Insider
Report Attributes | Details |
Market Size in 2023 | USD 77.04 Billion |
Market Size by 2032 | USD 117.07 Billion |
CAGR | CAGR of 4.76% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | .By Resin Type (Acrylic, Alkyd, Vinyl, Polyurethane, Others) .By Technology (Waterborne, Solventborne, Powder coatings) .By End-use (Residential, Non-residential) |
Key Drivers | . Increasing Demand for Smart Coatings with Self-Healing and Anti-Microbial Properties Driving the Architectural Coatings Market Growth. |
Market Segmentation
By Resin Type
In 2023, acrylic resins held the largest share of the architectural coatings market at around 45.2%. Acrylic-based coatings offer excellent UV resistance, flexibility, and fast-drying properties, making them ideal for both interior and exterior applications. These coatings are widely used in decorative paints and coatings for their durability and color retention, especially in regions with high humidity and intense sunlight.
Epoxy resins followed closely, mainly used in high-performance applications requiring chemical resistance and adhesion. These are particularly prevalent in commercial buildings and industrial floor coatings. Meanwhile, alkyd resins continue to serve niche applications where traditional finishes and durability are needed, such as in heritage property restorations.
By Technology
Waterborne coatings dominated the market in 2023 with a share of 60.3%, attributed to their low VOC emissions and compliance with stringent environmental standards. Waterborne coatings are widely preferred in both developed and emerging markets, particularly in Europe and North America, due to regulatory mandates. Oil-based and solvent-borne coatings, though still used for specialty applications, are witnessing a steady decline due to environmental concerns and longer drying times.
By End-Use
In terms of application, the residential sector held the largest market share at 70.4% in 2023. The resurgence of housing construction, coupled with increasing renovation and repainting activities, has driven demand for interior wall paints, primers, and exterior weather-resistant coatings. Meanwhile, the commercial segment, encompassing offices, retail spaces, and public infrastructure, is experiencing notable growth with increased investments in smart cities and commercial property refurbishments.
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Regional Analysis
Asia Pacific held the largest market share, around 41.2%, in 2023. The urbanization and infrastructure development, along with an expanding middle-class population, are some factors responsible for high market demand. China, India, and Southeast Asia contributed the most to emissions, with China at the top thanks to its vast construction sector. As per the data provided by the China National Bureau of Statistics, the country witnessed USD 1.8 trillion of real estate investment in the year of 2023, highly enhancing the scope for architectural coatings. Residential construction was stimulated by India's Smart Cities Mission and Housing for All initiative, while Japan's government infrastructure spending package further supported demand for premium coatings due to its focus on sustainable and earthquake resistance.
Recent Developments
- In 2023, Sherwin-Williams launched its Emerald Rain Refresh Exterior Acrylic Latex, featuring self-cleaning technology and enhanced moisture protection for homes and commercial buildings. In 2024 , Asian Paints announced the expansion of its eco-friendly water-based coatings product line across India and Southeast Asia, aimed at reducing carbon footprint in mass housing projects.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Architectural Coatings Market Segmentation, By Resin Type
8. Architectural Coatings Market Segmentation, By Technology
9. Architectural Coatings Market Segmentation, By End-use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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