Exterior Architectural Coatings Market to Grow with a CAGR of 3.74% through 2028
Rising Disposable Income and technological
advancements are factors driving the Global Exterior Architectural Coatings
market in the forecast period 2024-2028.
According to TechSci Research report, “Exterior
Architectural Coatings Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Exterior
Architectural Coatings Market stood at USD 84.67 billion in 2022 and is
anticipated to grow with a CAGR of 3.74% in the forecast period, 2024-2028. Global
exterior architectural coatings market is a dynamic and evolving sector that
plays a pivotal role in the protection, beautification, and longevity of
structures worldwide. As urbanization continues to surge, and with a growing
emphasis on sustainable and aesthetically pleasing constructions, the demand
for high-performance exterior coatings is on the rise.
The global exterior architectural coatings market
encompasses a wide array of products designed to safeguard and enhance the
exteriors of buildings. These coatings serve multiple purposes, including
protection against weathering, UV radiation, moisture, and pollutants, while
simultaneously contributing to the visual appeal of structures.
The global exterior architectural coatings market is a
dynamic arena shaped by economic, technological, and environmental factors. As
the industry navigates challenges and embraces innovation, the future promises
a landscape where sustainable, high-performance coatings are not just a
necessity but a driving force behind the aesthetics and longevity of our built
environment.
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The Global Exterior Architectural Coatings Market is
segmented into resin type, application,
regional distribution, and company.
Acrylic resins are ubiquitous in the exterior coatings
market, known for their versatility and durability. They offer excellent UV
resistance, weatherability, and color retention. Acrylic coatings are often
preferred for their ability to provide a protective shield against the elements
while maintaining vibrant and long-lasting aesthetics. These resins find
application in a wide range of exterior coatings, from paints to elastomeric
formulations.
Epoxy resins are valued for their exceptional adhesion
and toughness. While they are more commonly associated with industrial
coatings, their use in exterior architectural coatings is growing. Epoxy-based
coatings provide robust protection against abrasion, chemicals, and moisture,
making them suitable for surfaces that require superior durability.
Alkyd resins, derived from natural oils, have long
been a staple in the exterior architectural coatings market. Known for their
excellent flow and leveling properties, alkyd-based coatings offer a smooth
finish and good adhesion. However, their usage has seen a decline due to
environmental considerations, with a shift towards water-based alternatives.
Polyurethane resins are prized for their exceptional
durability, flexibility, and resistance to weathering. These resins create
coatings with high gloss and color retention, making them ideal for
applications requiring long-term aesthetic appeal. Polyurethane coatings are
often used in high-traffic areas where durability is paramount.
Trends in residential applications include a growing
demand for sustainable and low-VOC coatings as environmentally conscious
consumers seek products that align with green building practices. Customization
is another trend, with homeowners opting for a variety of colors, finishes, and
textures to reflect their individual style preferences.
The non-residential sector spans a broad spectrum,
including commercial buildings, industrial facilities, educational
institutions, and healthcare facilities. In these applications, exterior
coatings serve diverse purposes, from preserving the architectural integrity of
historical structures to providing corrosion resistance in industrial settings.
Non-residential projects often require coatings with
specific performance attributes, such as high durability, resistance to
chemicals, and fire retardancy. Cool roof coatings, designed to reflect
sunlight and reduce heat absorption, are gaining popularity in non-residential
applications, contributing to energy efficiency and sustainability.
The Asia Pacific region stands as a powerhouse for the
exterior architectural coatings market, driven by robust construction
activities. Rapid urbanization, population growth, and increasing disposable
incomes have spurred a surge in construction projects, ranging from residential
buildings to commercial infrastructure. As cities transform and skylines
evolve, the demand for exterior coatings to protect and enhance these
structures has skyrocketed.
Additionally, the Asia Pacific region has witnessed a
shift towards eco-friendly and sustainable building practices. This transition
aligns with the global trend towards environmentally conscious choices, driving
the demand for exterior coatings with low volatile organic compounds (VOCs) and
enhanced durability. The region's commitment to sustainable construction
practices positions it as a significant player in steering the market towards
eco-friendly formulations.
Europe, with its rich architectural heritage and
commitment to sustainable development, is a driving force behind the
innovations in exterior architectural coatings. The European market has
witnessed a surge in demand for high-performance coatings that not only provide
protection but also align with stringent environmental regulations.
The push towards sustainable formulations, driven by
both consumer preferences and regulatory standards, has led to the development
of coatings with reduced environmental impact. Europe's emphasis on green
building practices has spurred the adoption of coatings that contribute to
energy efficiency and adhere to eco-friendly principles.
Major companies operating in Global Exterior
Architectural Coatings Market are:
- BASF SE
- Axalta
Coatings System
- PPG
Industries
- Valspar
Corporation
- AkzoNobel
NV
- Arkema
SA
- Berger
Paints
- Cabot
Corporation
- Eastman
Chemical Company
- Dow
Chemical Company
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“As the industry continues to evolve, these
developments are not only reshaping the products offered but also influencing
the way coatings are applied, managed, and integrated into the broader context
of sustainable and technologically advanced construction practices. The future
promises a landscape where exterior coatings not only beautify and protect
structures but also contribute to a more sustainable and efficient built
environment.,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Exterior Architectural Coatings Market –
Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028
Segmented By Resin Type (Acrylic, Epoxy, Alkyd, Polyurethane, Pigment, Others),
By Application (Residential, Non-Residential), By Region, Competition”, has evaluated
the future growth potential of Global Exterior Architectural Coatings Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Exterior Architectural Coatings Market.
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