Exterior Architectural Coating Market Enhance Growth Of $39.04 Billion By 2024: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a report,”Exterior Architectural Coating Market Analysis By Resin Type (Acrylic, Epoxy, Polyester, Alkyd, Polyurethane), By Technology (Solventborne, Waterborne), By Product (Primer, Emulsion, Enamel), By Application (Residential [New, Repaint], Non-Residential [New, Repaint]) And Segment Forecasts To 2024″, published by Grand View Research, Inc., The global exterior architectural coating market is expected to reach USD 39.04 billion by 2024. 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.

Key Takeaways from the report:

• 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.

U.S exterior architectural coating market revenue, by resin type, 2013 – 2024 (USD Million)

Browse More Reports in Paints, Coatings & Printing Inks Industry:

• U.S. Pigment Dispersion Market – Pigment dispersion is a method used to impart color to various substrates in the automotive, building and construction, and packaging industries. 
• Conformal Coatings Market – Growing product demand from consumer electronics industry, in order to protect printed circuit boards from dust, moisture, heating, and other environmental impacts is expected to propel the market growth over the forecast period.

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

  • New construction

  • Remodel/repaint

• Commercial

  • New construction

  • Remodel/repaint

Global Exterior Architectural Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)

• North America

  • U.S.

  • Mexico

• Europe

  • Germany

  • UK

• Asia Pacific

  • China

  • India

• Latin America

  • Brazil

• MEA

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About Grad View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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