Transparency Market Research has prepared a report on the global architectural coatings market – for the period 2017 to 2025 – and estimates that the global architectural coatings market is likely to expand at 5.7% CAGR. The market is estimated to reach $87,500.4 million by 2025.
In terms of region, the global architectural coatings market is likely to witness the dominance of Asia Pacific due to escalated refurbishment and construction activities in countries like China, Taiwan, Thailand, India, and Japan.
Interior designing and beautification activities have been witnessing a steady rise in its demand across commercial and residential sectors, thanks to the increased love for aesthetics. This love for interior decoration is likely to encourage the growth of the architectural coatings market in the Asia Pacific. Furthermore, an increasing trend toward green construction together with huge spending on infrastructural activities is observed in countries like Australia, which is likely to expand the size of the architectural coatings market in Asia Pacific.
In addition, the growing popularity of various specialized coatings coupled with an emerging trend of making use of bio-based coatings is estimated to expand the size of the architectural coatings market in Europe. The market in Europe is driven by the growing demand for architectural coatings in countries like Italy, Spain, and France.
The global architectural coatings market is estimated to witness the expansion of its size due to extensive demand from the paints and coating industry. It is utilized for both interior and exterior applications in the paint and coatings industry. Progress made in the paint technology, particularly in acrylic formulations, offers an extensive range of waterproof coatings. Paints and coating applied on the exterior of a residence or a commercial building not only add to the aesthetics of the building but also protect it against heat, harsh winters, soaking rain and other adverse weather conditions.
The rise in the construction of residential buildings is estimated to open up avenues for the development of the global architectural coatings market in the forthcoming years. Furthermore, rising demand for environment-friendly products has led to increased research and development activities so as to come up with innovative products. This further is likely to widen the scope of the market over the period of review.