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14. May 2019 | Raw materials

Architectual coatings market going upward

The outlook for the architectural coatings market is positive. A growing middle-class population and the rising standard of living in the region will increase the demand in emerging regions.

The market for sustainable architectual coatings is going up. (Source: Daniel – stock.adobe.com)

By Vikash Kumar and Shrikant Bhusare, Markets and Markets.

Asia-Pacific (APAC) was the dominant market for architectural coatings in 2017 with a market size of USD 27 billion. It is expected that the market will hit a size USD 37.3 billion in 2023, showing a CAGR of 6.6 %, which is almost 2 % higher than the average global CAGR. The market is largely driven by the water-borne coatings technology segment. The water-borne architectural coatings segment is expected to show growth in the next five years, especially in the developing countries, driven by huge investments in new infrastructure developments, new housing projects, and renovation/repaint of residential and commercial buildings.

The second largest region is Europe, with a market size of USD 15.2 billion in 2018. It will show the slowest CAGR, only 2.9 %, and reach a market size of USD 17.5 billion. North America is the third largest region, accounting for USD 12.05 billion. It is expected that this region will reach USD 14.1 billion, at a CAGR of 3.1 %, by 2023.

Driving factors for architectural coatings in APAC

APAC has been a bright spot in the global architectural coatings market in the backdrop of the overall slowdown in the global economic development. The growing middle-class population and the rising standard of living in the region will increase the demand for decorative coatings. Concerns for environmental, health, and safety issues due to VOC emissions from traditional coatings are driving the demand for environment-friendly architectural coatings in the region.

The World Bank population statistics state that the fastest-growing consumer markets of China, India, and other APAC countries had a combined population exceeding 4.2 billion (as of 2017). This is projected to become an increasingly important driver of the global construction industry over the next two decades. This will also be fuelled by the rapidly rising household income and the fast-growing middle-class population.

Water-borne Architectural Coatings

For water-borne coatings, APAC is the largest and the fastest-growing market. The share of water-borne coatings will increase from 40 % in 2018 to 44 % in 2023. The region is witnessing high growth in the construction industry, due to which, there is high demand for water-borne architectural coatings. The market of conventional solvent-borne has lost its dominance due to the growing demand of low VOC coatings.

This technology is expected to show slow growth over the next few years. The technologies such as water-borne and powder coatings that are compliant to the environmental rules, are expected to gain an increasing share over the next five years.

More about architectual coatings

This article is a shortened version of the market report on architectural coatings in the European Coatings Journal 5/2018. The complete article is available digitaly for subcribers of European Coatings 360°.

EC Library Waterbased Acrylates for Decorative Coatings

Books

Waterbased Acrylates for Decorative Coatings

Aqueous polyacrylates, as binders, dispersing resins and thickening polymers, are nowadays impossible to do without as raw materials in the paints and coatings industry. Since their introduction in the 1950s and 60s, straight acrylic and styrene acrylic dispersions have established themselves as environment-friendly, high-performace alternatives to the solvent-borne, air-drying alkyd resin binders used principally before. The particularly wide performance spectrum and high level of variability of the polyacrylates has enabled the propagation and consistent ongoing development of this product class as binders for coating materials. This book gives an overall view of the preparation and properties of aqueous acrylic dispersions and also the special features pertaining to their use in the architectural coatings sector. Following a general introduction to dispersions and emulsion paints manufacture at the beginning of the book, specialized chapters give a deeper insight into the diverse products such as primers, masonry paints, interior paints, plasters, wood coatings and gloss emulsion paints. The book presents an picture of the preparation of acrylic binders and the formulation of architectural paints. It is aimed both at students and newcomers to the paints and coatings field as well as at experienced dispersion users and practitioners in the paints and coatings industry.

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