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November 5, 2018
By: KERRY PIANOFORTE
Editor, Coatings World
The exterior architectural coatings market experienced moderate growth over the past year. There are a number of factors contributing to this growth including an increase in infrastructure projects and a robust housing market. According to Grand View Research’s report, “Exterior Architectural Coating Market Analysis By Resin Type (Acrylic, Epoxy, Polyester, Alkyd, Polyurethane), By Technology (Solventborne, Waterborne), By Product (Primer, Emulsion, Enamel), By Application (Residential [New, Repaint], Non-Residential [New, Repaint]) And Segment Forecasts To 2024,” rising government spending, foreign direct investments and public-private partnerships in emerging economies including Malaysia, Indonesia, Thailand, China and India on account of the rapid development and growing infrastructure requirement are expected to be a key factor driving the industry growth. The report also noted that the development of new waterborne technology by companies such as Sherwin-Williams, PPG Industries and AkzoNobel to impart antibacterial and anti-odor properties is expected to propel industry growth. “Shifting consumer preference towards waterborne architectural coating owing to its eco-friendly nature will spur product demand,” the report stated. In this month’s feature article “Exterior Architectural Coatings,” Anthony Locicero, associate editor interviews key players in this market and looks at the trends driving the market. Drivers include the increasing use of waterborne coatings, a healthy housing market led by Millenials who are now starting to purchase their own homes and an increase in repair and remodeling projects as a result of extreme weather conditions. Jodi Allen, chief marketing officer at The Behr Paint Company, relayed a number of factors impacting the market for exterior architectural coatings. “Millennials,” she said, “are now entering the housing market and are currently the largest population of first-time home buyers. Additionally, individuals who encountered foreclosures between 2008 and 2010 are now becoming eligible for ownership. We’re also observing an increased demand for home updates, in part due to the fact that 65 percent of the existing housing stock was built before 1990.” Extreme weather conditions – in 2018, parts of the U.S. endured hurricanes Florence and Michael – can cause a surge in paint and primer sales, Allen also noted.
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