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Architectural Coatings Market Forecast Report to 2023: Types, Applications, and Segmentation
Architectural Coatings Market Research Report by Application (Residential, Non-Residential), by Type (Acrylic, Epoxy, Polyurethane, Polyester), by Technology (Water Borne technology, Solvent Borne Technology), by Region, and Forecast to 2023
The Worldwide Architectural Coatings CAGR is poised to develop at a higher rate in the forecast time frame. The developed countries of the world is the place where a majority of the market is going on, and it is foreseen to develop even more in the forecast time frame. The fundamental variables in charge of this development rate are, expanding government support for development extending in the urban territories, rising white collar class populace spending to enhance expectations for everyday comforts, and lodging needs of the expanding populace.
Architectural Coatings are used to coat and paint houses and buildings. These coatings exhibit excellent properties of adhesion, wettability, weather shield, and resistance to corrosion. The different types of Architectural Coatings are acrylic, epoxy, polyurethane, polyester, and others. These coatings have the ability to absorb, reflect light and to change color of the surface or substrate, it is applied to. Generally, metals like iron don’t possess properties such chemical and corrosion resistance, therefore, theses coatings provide them with the required resistance to chemical or other corrosive reactions that deteriorate metals. Additionally, solar radiation causes the surface or substrate loose its durability. So, these coatings, being resistant to UV radiation, are used to enhance the durability of the surface or substrate. These outstanding properties find a wide array of applications in residential as well as non-residential purposes.
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Geographically, Architectural Coatings Market is segmented across Five Regions in the world namely: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
In Asia Pacific, nations are encountering rising wages, enhancing ways of life and expanding residential establishment, while work and creation costs remain moderately low. North America is relied upon to enroll a better than expected development in the architectural coating market because of the developing ecological concerns and mindfulness with respect to the unsafe parts of solvent based coatings. A combination of higher pricing of raw materials and competitive coatings market outside EU has a huge impact on Europe coatings market. It is anticipated that there will be a decline in the growth of architectural coatings market in EU. Paints and coatings industry in Latin America is experiencing a decline in the demand due to the instability in the regional economy.
The Global Architectural Coatings Market is classified into type, application, technology and region. On the basis of type, the market is segmented into acrylic, epoxy, polyurethane, polyester and others. Based on application, the market is segmented into residential and non-residential and others. Global Architectural Coatings Market is segmented based on technology as water borne and solvent borne technology. Based on region, the market is segmented into Asia Pacific, Europe, North America, Latin America and the Middle East and Africa.
Key Global Competitors:
The key players in the Architectural Coatings Market are, Kansai Paint Co. Ltd. (Japan), and Asian Paints Ltd. (India), BASF Coatings GmbH (Germany), PPG Industries Inc. (U.S.), AkzoNobel N.V. (Netherlands), Kelly-Moore Paint Company Inc. (U.S.), The Sherwin-William Company (U.S.), The Valspar Corporation (U.S.), Nippon Paint Co. Ltd. (Japan), RPM International Inc. (U.S.)
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