Construction Paints and Coatings Market- By Technology (Solvent borne, Waterborne, Powder), By Resin (Acrylic, Epoxy, Alkyd, Polyester, Polyurethane), By Application (Architectural, Industrial) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Construction Paints and Coatings Industry held USD XXX billion in 2020 and is expected to grow at a CAGR of XXX from 2020-2030. In the emerging economies, there is a wide untapped market for the construction industry which has developed every year due to the growing global population. These factors generate competition for building materials, such as paints and coatings. Paints and coatings have increasingly gained substantial popularity in residential and industrial complexes. Due to recent advances caused by architectural buildings, the use of paints in home decor has gained that demand, resulting in the increase in construction paints and coatings market size. In the construction paints and coatings market, enormous usage of emulsion paints can be accounted to its constituents, which have lower VOCs and odors.

Market Dynamics and Factors:

There is indeed an increasing demand for practical paints and coatings that provide buildings with protection against harsh weather, humidity, corrosion, fungi and other harmful or negative effects on the building. Vendors come up with paints and coatings that simulate heat rays from buildings and paints that have properties that are antimicrobial and water resistant. In addition, the growth construction paints and coatings market is due to the increase in demand from pre engineered constructions which has also increased the use of paints and coatings viz standard modified polyester, super-polyester coatings and silicon-modified polyester, both indoors and outdoors. The increase in construction paints and coatings market trends is because of the increasing demand for refinishing and new construction ventures across the globe, the construction paints and coatings industry is expected to see substantial growth in the near future. Rapid urbanization coupled with increasing disposable income for consumers is expected to drive demand over the forecast period. Solvent-based coatings have also indicated their presence in the building paints and coatings industry along with powder, radiation protection, and specialty coatings. Solvent-based paints are expected to see a rising demand due to their VOC emitted during application and adverse environmental effects. Strict restrictions on VOC content in finished goods are likely to have a negative effect in future on the construction paints & coatings market. It is projected that high rates of commercialization of waterborne alternatives with restricted VOC content provide lucrative opportunities for industry participants.

Market Segmentation:

Based on technology, the construction paints and coatings market are segmented into solventborne, waterborne, powder. On the basis of resin, the construction paints and coating industry is classified into acrylic, epoxy, alkyd, polyester, polyurethane. On the basis of application, the construction paints and coatings industry are segmented into Architectural, Industrial. Geographic breakdown of construction paints and coating market includes regions comprising North America, Europe, Asia-Pacific, and Rest of the world.

Geographic Analysis:

Geographically, APAC's construction paint and coating market is the largest and fastest-growing market. Growing infrastructure spending was central to major economies such as India, Brazil, China, Indonesia, and the UAE's economic development. Increasing consumer spending power is also expected to lead residential investment. Also, the increase in consumer awareness of architectural paintings is expected to push the demand for non-toxic paints and coatings in residential and commercial applications and increase in the construction paints and coatings market sales.

India, China and Japan are the major revenue-generating countries. Growing investments in infrastructural development and construction are the key drivers of construction paints and coatings market in APAC region.

In Germany, the low borrowing costs and lower risks are expected to play a very crucial role in increasing the demand of ongoing civil projects, housing sector, etc leading to the overall growth in construction paints and coatings market share. It is also expected to drive the overall construction paints and coatings industry in other European countries like France, Turkey and Italy. The presence of a large number of participants, coupled with the government's financial incentives, is expected to stimulate the Middle East region's civilian projects adding to the growth of overall construction paints and coatings market size. Added to this, North America is anticipated to witness a noteworthy growth in construction paints and coatings market share. The US is one of the major consumers.

Competitive Scenario:

The key players of global Construction Paints and Coatings market are Asian Paints, AkzoNobel N.V., PPG Industries, BASF SE, and Sherwin-Williams Company among others.

Construction Paints and Coatings Market Report Scope