Asia Pacific Architectural Coatings Market is segmented By Resin Type (Acrylic Products, Alkyd Products, Vinyl Products, Polyurethane Products, and Others), By Technology (Waterborne Coatings, Solvent-Borne Coatings, and Powder Coatings), By Application (Residential, and Non-Residential), and By Country (Japan, China, India, South Korea, Australia and Rest of Asia Pacific) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Report Overview
The Asia Pacific Architectural Coatings Market is expected to grow at a CAGR of 5.6% during the forecast period 2023-2030.
The Asia-Pacific region is developing as a potential market for architectural coatings with a boom in demand for eco-friendly coatings. The market's competitive competition is escalating, with major players such as PPG Industries, AkzoNobel, Sherwin-Williams Company, and others aggressively competing.
Architectural coatings are paints, primers, sealers, inks, and other related products used as roof coatings, wall paints, or deck finishes to protect commercial, industrial, and residential buildings from ultraviolet radiation, microbes, and moisture. It also enhances their appearances.
Architectural coatings are applied in paints, primers, sealers, inks, and others. The majority of the coatings are applied to surfaces using sprayers, rollers, brushes, and other applicators. Several techniques, such as cross-linking, evaporation, coalescence, or fusion bonding, are used to turn powder particles or liquid film coatings into solid film coatings.
Asia Pacific Architectural Coatings Market Scope
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Metrics |
Details |
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CAGR |
5.6% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Resin Type, Technology, and Application |
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Countries Covered |
Japan, China, India, South Korea, Australia and Rest of Asia Pacific |
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Largest Country |
China |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Drivers
Increasing Construction and Restoration Activities Drives Market Growth
The increase in construction and restoration projects throughout the globe drives the demand for architectural coatings, which are necessary for maintaining and improving the look of buildings. Architectural coatings are applied to surfaces inside buildings and structures as part of construction and repair operations. Coatings are used to preserve, improve, personalize, and maintain the look of architectural features, therefore adding to the overall aesthetics and lifespan of a newly built or restored building.
Increasing Focus on Sustainability
Eco-friendly and sustainable coatings with low VOC (Volatile Organic Compound) content, are water-based and provide enhanced energy efficiency are in high demand. Environmental rules and consumer preferences feed this factor. Because of increased environmental consciousness and a desire for more eco-friendly solutions, there is a rising emphasis on sustainability in architectural coatings. This attention extends throughout the whole coating lifespan, from raw material procurement to application, performance, and disposal.
Market Restraints
Fluctuating Raw Material Prices May Hamper the Market Growth
Key raw materials used in architectural coatings, such as resins, pigments, and solvents, may have variable pricing, increasing manufacturing costs and consequently lowering profit margins. Raw material price fluctuations have a substantial influence on the architectural coatings sector. Raw materials such as resins, pigments, solvents, and additives are critical components of coatings, and their pricing might vary depending on a number of variables.
Market Growth Opportunities
As sustainable building practices gain traction, there are opportunities for architectural coatings manufacturers to develop and market environmentally friendly coatings that comply with green building certifications, such as LEED (Leadership in Energy and Environmental Design). Green building initiatives have considerably impacted the architectural coatings sector, promoting the development and acceptance of more environmentally friendly and sustainable coatings. These projects encourage the use of coatings that have a low effect on human health, use less resources, and contribute to overall sustainability.
Asia Pacific Architectural Coatings Industry Segmentation
The Asia Pacific architectural coatings market is segmented by resin type, technology, and application.
Based on resin type, acrylic product dominates the market due to their properties such as environmental resistance, fast setting times, excellent durability, and high gloss retention. According to the National Coatings Association, every acrylic coating product created in the United States is crafted from the best raw ingredients available.
For example, Elastomeric roof coatings offer watertight roofing. It prevents water from reaching the roof during thermal expansion and contraction. The acrylic coating's durability and reflectivity make it a worthwhile, cost-effective investment, extending the life of the roof and decreasing the temperature in the structure, which decreases energy usage. The demand for aqueous acrylic lacquers, which combine the qualities of lacquers and enamels, is increasing. These coatings are more sensitive to humidity and temperature, and they effectively remove the ecologically hazardous compounds included in traditional lacquers.
Key Developments
- Nippon Paint China and BASF collaborated to develop Joncryl HPB in August 2022. It is the first water-based barrier coating created by BASF for use in industrial packaging in China.
- In August 2021, Dulux, a brand of AkzoNobel, introduced a USDA-certified super-premium interior emulsion in India. It is the first paint in India manufactured from biomaterials that filter indoor air.
Asia Pacific Architectural Coatings Market: Regional Analysis
By region the Asia Pacific architectural coatings market is segmented by Japan, China, India, South Korea, Australia and Rest of Asia Pacific.
China is expected to dominate the Asia-Pacific architectural coatings market because of the country's tremendous urbanization and construction boom in recent decades.
India is predicted to see considerable growth from 2023 to 2030 as a result of increasing construction activities in the country's residential, commercial, and public sectors.
Asia Pacific Architectural Coatings Market Leaders
The key players operating in the Asia Pacific architectural coatings market are BASF Coatings GmbH, PPG Industries Inc., AkzoNobel N.V., Kelly-Moore Paint Company, Inc., The Sherwin-William Company, The Valspar Corporation, Nippon Paint Co Ltd, RPM International Inc., Kansai Paint Co., Ltd, and Asian Paints Ltd.
