The global architectural
coatings market size is expected to reach USD 99.03 billion by 2027
according to a new study by Polaris Market Research. The report “Architectural Coatings Market Share, Size, Trends, Industry
Analysis Report, By Resin Type (Acrylics, Alkyds, Epoxy, Urethanes, Vinyl,
Others); By Technology (Water-borne, Solvent-borne, Powder); By Application
(Residential, Non-Residential); By Regions; Segment Forecast, 2020 – 2027” gives
a detailed insight into current market dynamics and provides analysis on future
market growth.
The demand for architectural
coatings is expected to witness growth on account of increasing demand in the
residential and non-residential sectors. In addition, technological advancement
in the field of coatings and development of green products is expected to drive
the demand for architectural coatings across the globe. Furthermore, increasing
construction projects in Asia Pacific countries such as China and India are
likely to complement market growth.
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Several traditional solvent-based
architectural coatings owing to presence of high levels of Volatile Organic
Compounds (VOCs) are losing popularity in the coatings industry. On account of
the wide range of advantages of solvent-based coatings such as liquefying
properties, increased evaporation rates, and reduced drying time, solvent-based
coatings are being used in a variety of industrial applications. Water-borne
coatings are gaining popularity on account of eco-friendly nature of
the coatings.
Increasing levels of emission of
Hazardous Air Pollutants (HAPs) and Volatile Organic Compounds (VOCs) from
conventional solvent-based coatings have raised concerns pertaining to environmental
degradation. The government across the globe are restricting the usage of toxic
and harmful coatings. With enactment of stricter laws and regulations to curb
air pollution caused due to hazardous emissions and conventional solvent-based
coatings are likely to be soon replaced by green- or bio-based solvents. In
order to comply with the laws and regulations, consumers are increasingly
opting for green coatings.
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Market participants such as PPG
Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Kansai Paints
Co., Ltd., Asian Paints Limited, and Nippon Paint Holdings Co., Ltd., BASF SE,
Masco Corporation, Jotun Group, and RPM International Inc. are some of the key
players operating in the concerned market. The research scholars at the premier
IIT Hyderabad are using fly ash to form water repellent structure. These
hydrophobic structures can be used as anti-soiling coatings, stainless
textiles, self-cleaning coatings, and anti-sticking surfaces for the antennae.
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