The global exterior
architectural coating market is expected to reach USD 39.04 billion by 2024,
according to a new report by Grand View Research, Inc. Functional superiorities
including weather and moisture resistance, better aesthetics and long lasting adhesion
is expected to fuel market growth over the next eight years. Furthermore,
rising government spending in Asian countries on infrastructure development
will augment industry expansion.
Growing demand for waterborne
technology over traditional coatings, as it is cheaper and eco-friendly, will
drive market growth. The introduction of green coatings coupled with the
increasing usage of nanocoatings will create immense opportunities for growth
over the next eight years.
Primer is expected to witness
high revenue gains at a CAGR of 6.4% from 2016 to 2024 as it acts as a
protector and leveler for other products including enamel and emulsions. The
revenue generated by the use of exterior architectural coatings in the
non-residential sector was valued at USD 8.20 billion in 2015 and is expected
to witness rise on account of growing FMCG, IT, telecom and retail sector in
MEA and Asia Pacific. Moreover, rapid industrialization, increasing FDI and
government infrastructure spending will promote market growth.
In depth research report on Exterior Architectural Coating
Market
Further key findings from the report suggest:
•
The global demand for exterior
architectural coatings was 7.12 million tons in 2015 and is expected to show
high gains in light of rapid infrastructural development in India, Saudi
Arabia, Thailand, Indonesia and the U.S.
•
Alkyd resin will witness high
volume growth at a CAGR of 5.3% from 2016 to 2024. Growing usage of alkyd
resins in light of their high durability and superior gloss is expected to
stimulate industry growth. Furthermore, rising consumption in outdoor
applications owing to its low cost along with high-temperature resistance will
fuel its demand over the forecast period.
•
North America accounted for
22.6% of the global volume share in 2015 and is expected to witness significant
gains in light of rising reconstruction activities in the U.S. coupled with
infrastructure development in Canada and Mexico. Furthermore, the
implementation of the National Infrastructure Program 2014 - 2018 (NIP) in
Mexico is expected to promote the product growth over the forecast period.
•
Latin America is projected to
witness substantial revenue growth at a CAGR of 6.4% from 2016 to 2024 owing to
the presence of various participants including BASF, Sherwin-Williams, and
AkzoNobel. Increasing government efforts to offset Brazil’s housing deficit,
and provide low-interest rates for housing will stimulate product demand over
the forecast period.
•
Exterior architectural coatings
industry is dominated by major participants including PPG Industries, Nippon
Paint, BASF, AkzoNobel, and Sherwin-Williams. Ongoing product innovation to
produce high-performance and cost-efficient waterborne coatings is expected to
industry expansion over the next eight years. For instance, in March 2015, BASF
expanded their color range and production capacity for Paliocrom products to
cater to the increasing demand for high-end effect pigments in coatings. BASF
is expected to widen the capacity by more than 20% by 2017 for Paliocrom effect
pigments.
Grand View Research has
segmented the global exterior architectural coating market on the basis of
resin type, technology, product, application, and region:
Global Exterior Architectural Coatings Resin Type Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
Acrylic
•
Alkyd
•
Polyurethane
•
Polyester
•
Epoxy
•
Others
Global Exterior Architectural Coatings Technology Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
Solventborne
•
Waterborne
Global Exterior Architectural Coatings Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
Primer
•
Enamel
•
Emulsion
•
Others
Global Exterior Architectural Coatings Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
Residential
o
New construction
o
Remodel/repaint
•
Commercial
o
New construction
o
Remodel/repaint
Global Exterior Architectural Coatings Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
•
North America
o
U.S.
o
Mexico
•
Europe
o
Germany
o
UK
•
Asia Pacific
o
China
o
India
•
Latin America
o
Brazil
•
MEA
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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