Global Exterior Architectural Coatings Market Size By Resin Type (Acrylic, Epoxy, Polyester, Alkyd, Polyurethane), By Technology (Solvent Borne, Waterborne), By Product (Primer, Emulsion, Enamel), By Application (Residential, Non-Residential), By Geographic Scope And Forecast
Report ID: 16601|No. of Pages: 202
Global Exterior Architectural Coatings Market Size By Resin Type (Acrylic, Epoxy, Polyester, Alkyd, Polyurethane), By Technology (Solvent Borne, Waterborne), By Product (Primer, Emulsion, Enamel), By Application (Residential, Non-Residential), By Geographic Scope And Forecast
Exterior Architectural Coatings Market Size And Forecast
The Exterior Architectural Coatings Market size was valued at USD 33.04 Billion in 2023 and is projected to reach USD 49.65 Billion by 2031, growing at a CAGR of 5.22% from 2024 to 2031.
- Exterior architectural coatings are specialized paints or coatings applied to the exterior surfaces of buildings and structures to protect them, improve their aesthetics, and extend the substrate’s lifespan.
- These coatings are designed to withstand a variety of environmental variables, including UV radiation, moisture, temperature changes, and contaminants, preventing deterioration and corrosion of the underlying components.
- They are made up of a combination of pigments, binders, additives, and solvents designed to provide durability, weather resistance, and color retention.
- Furthermore, exterior architectural coatings have a wide range of applications in residential, commercial, and industrial contexts, including concrete, stucco, wood, metal, and masonry. In new buildings or renovation projects, these coatings help retain structural integrity and reduce long-term maintenance costs.
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Exterior Architectural Coatings Market Dynamics
The key market dynamics that are shaping the Exterior Architectural Coatings Market include:
Key Market Drivers
- Increased Construction Activities: The global expansion in residential and commercial buildings is a major driver of the Exterior Architectural Coatings Market. Urbanization, population growth, and economic development cause more buildings to be built, increasing the need for external coatings to protect and improve these structures.
- Technological Advancements and Product Innovation: Advancements in coating technology, such as the creation of more durable, sustainable, and ecologically friendly coatings, have a substantial impact on market growth. Consumer demand for higher-quality finishes and sustainable solutions is fulfilled by innovations that provide greater performance, such as extended lifespan, weather resistance, UV protection, and low VOC emissions.
- Regulatory and Environmental Concerns: Increasingly rigorous regulations regarding the environment around the world are forcing the coatings industry to produce more eco-friendly products. This includes the transition from solvent-based to water-based coatings, which emit fewer VOCs. Such rules not only encourage innovation but also affect customer preferences, resulting in increased demand for green and sustainable coating solutions.
- Aesthetic and Preservation Needs: The desire to improve the aesthetic appeal of buildings while preserving architectural elements drives the demand for high-quality exterior coatings. These coatings come in a variety of textures, finishes, and colors, allowing you to customize and beautify your structures. Furthermore, the requirement to protect buildings from a variety of external variables, such as moisture, temperature variations, and pollution, drives the demand for long-lasting and protective coatings.
Key Challenges:
- Increasing Competition from Low-Cost Producers: The development of low-cost producers in emerging markets such as China and India is placing pressure on existing firms. These producers provide lower prices due to decreased labor costs and environmental laws. This increased competition from low-cost producers acts as a significant challenge for the market.
- Balancing Sustainability and Performance: Growing environmental concerns are driving demand for low-VOC coatings containing recycled content and bio-based components. However, these alternatives struggle to match the durability and performance of traditional coatings, resulting in a trade-off for both manufacturers and customers. As a result, balancing sustainability and performance is a difficult task in this market.
Key Trends:
- Sustainability and Eco-friendliness: Due to the environmental benefits of aqueous coatings over solvent-borne kinds, there is a significant trend towards waterborne coatings. These coatings have high adhesive properties, resistance to heat and abrasion, anti-corrosion properties, and are environmentally safe due to their low VOC and HAP content. This trend is driven by regulatory demands and consumer desire for environmentally friendly and less harmful products.
- Residential Construction Driving Demand: The residential sector is experiencing an increase in demand for external architectural coatings, driven by global increases in residential construction activity. Significant expenditures in residential projects in nations such as Vietnam and the United States illustrate the residential sector’s market dominance. Residential building is a key factor driving the Exterior Architectural Coatings Market, aligning with economic and social trends towards urbanization and housing.
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Exterior Architectural Coatings Market Regional Analysis
Here is a more detailed regional analysis of the Exterior Architectural Coatings Market:
Asia Pacific:
- Asia Pacific is estimated to dominate the Exterior Architectural Coatings Market during the forecast period. The region is a powerhouse for coatings innovation and manufacture, with countries such as China and India standing at the forefront of technical breakthroughs. A strong supply chain and R&D expenditures enable the production of high-quality coating products at reasonable prices.
- The Asia Pacific region is witnessing fast urbanization and a construction boom, with significant expenditures in residential, commercial, and infrastructural development. As a result, construction in Vietnam, China, and India is increasing demand for external architectural coatings for new and renovated buildings.
- The region’s expanding middle class and rising discretionary income levels are fueling a surge in demand for better housing and infrastructure. Consumers seeking better living conditions and aesthetics are increasing their use of decorative and protective coatings due to the socio-economic transition.
- Furthermore, governments in the Asia-Pacific region are enforcing stricter environmental restrictions, driving the market towards more sustainable and eco-friendly coating options. The regulatory environment encourages the use of aqueous and low-VOC coatings, coinciding with worldwide sustainability trends.
North America:
- North America’s emphasis on innovation in the coatings business results in the development of high-performance products with improved durability, weather resistance, and aesthetic appeal. This drive for innovation meets the region’s stringent building regulations and consumer expectations, resulting in a high demand for innovative architectural coatings. Hence, enabling the region to exhibit rapid growth over the forecast period.
- The region is characterized by strict environmental rules that govern the architectural coatings industry. These laws increase demand for eco-friendly products with fewer VOC emissions, encouraging manufacturers to invest in sustainable and green coating technologies, thereby altering market dynamics.
- North America is experiencing a significant increase in the rehabilitation and maintenance of old infrastructure. The aging building stock needs maintenance, which drives demand for external architectural coatings that can protect and extend the life of buildings, leading to market growth.
- Furthermore, North America’s economic expansion supports its robust building industry, which includes residential, commercial, and industrial projects. The existing and planned construction activities generate a consistent demand for architectural coatings, fueling the growth of the Exterior Architectural Coatings Market in the region.
Europe:
- Europe is at the forefront of sustainability and environmental preservation, with stringent VOC emission restrictions and a strong push for green building methods. This regulatory environment increases demand for environmentally friendly and sustainable architectural coatings, stimulating innovation in low-VOC, waterborne, and bio-based materials.
- Europe’s rich heritage of culture, as well as the need to preserve ancient buildings, drive demand for architectural coatings that provide both aesthetic qualities and protection from weathering and environmental damage. This includes specialized coatings for restoration projects that meet conservation criteria.
- The European market is distinguished by its high-quality standards and affinity for modern technology. Manufacturers invest in R&D to create coatings with improved features such as increased durability, resistance to adverse weather, and energy efficiency, satisfying the high demands of the European building sector.
- Following the recession, Europe experienced a sustained economic recovery, which resulted in increased investment in construction and infrastructure projects. This economic upturn increases demand for architectural coatings in both new building and rehabilitation sectors, hence promoting regional market growth.
Exterior Architectural Coatings Market: Segmentation Analysis
The Exterior Architectural Coatings Market is Segmented based on Resin Type, Technology, Product, Application, And Geography.
Exterior Architectural Coatings Market, By Resin Type
- Acrylic
- Epoxy
- Polyester
- Alkyd
- Polyurethane
Based on Resin Type, the market is segmented into Acrylic, Epoxy, Polyester, Alkyd, and Polyurethane. The acrylic resin segment is estimated to dominate the Exterior Architectural Coatings Market due to their extraordinary qualities, which include high weathering resistance, durability, and color retention, making them the preferred material for exterior paints. These resins are particularly appreciated for their capacity to protect structures against UV radiation, moisture, and temperature variations, which helps to explain their market domination. The robust polymeric structure of acrylic resins, combined with their ability to retain color vibrancy and improve substrate durability, explains their extensive use and market demand.
Exterior Architectural Coatings Market, By Technology
- Solvent Borne
- Water Borne
Based on Technology, the market is segmented into Solvent Borne and Water Borne. The waterborne segment is estimated to dominate the market over the forecast period due to the segment’s eco-friendliness, fewer volatile organic compound (VOC) emissions, and adherence to strict environmental laws. Waterborne coatings are preferred over solvent-borne alternatives due to their simplicity of application, rapid drying times, and lower environmental effects. The growing awareness and regulatory pressure to reduce VOC emissions has considerably increased the popularity of water-based coatings.
Exterior Architectural Coatings Market, By Product
- Primer
- Emulsion
- Enamel
Based on Product, the market is segmented into Primer, Emulsion, and Enamel. The emulsion segment is estimated to exhibit the highest growth in the forecast period in the Exterior Architectural Coatings Market. Emulsion coatings, which are recognized for their aqueous qualities, are gaining popularity due to their lower volatile organic compound (VOC) emissions as compared to solvent-based alternatives. This quality is especially important given strict global rules aimed at decreasing environmental impact and improving sustainability in construction operations. Furthermore, emulsion coatings provide great durability, weather resistance, and aesthetic versatility, making them an excellent choice for outdoor applications in residential as well as commercial environments.
Exterior Architectural Coatings Market, By Application
- Residential
- Non-residential
Based on Application, the market is segmented into Residential and Non-Residential. The residential segment is estimated to hold the major share in the Exterior Architectural Coatings Market due to the enormous increase in residential construction activities worldwide, which is driven by urbanization and population expansion. The residential sector benefits from advances in coating technology, such as the development of eco-friendly, long-lasting, and aesthetically beautiful coatings that meet the growing consumer demand for high-quality home finishes. These coatings are intended to protect homes from a variety of external variables, increasing longevity and lowering maintenance expenses. Furthermore, government measures in several countries to promote residential development through loans and subsidies have accelerated the expansion of this market.
Key Players
The “Global Exterior Architectural Coatings Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are AkzoNobel, PPG Industries, Sherwin-Williams, Nippon Paint Holdings, RPM International Inc., BASF SE, DuPont de Nemours Inc., Weyerhaeuser Company, Kansai Paint Co., Ltd., Benjamin Moore & Co., Jotun, Sigma Coatings, Hempel, Valspar Corporation, Covestro AG, Wacker Chemie AG, Eastman Chemical Company, and Dow Chemical Company.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
- In February 2024, AkzoNobel announced a strategic partnership with Borealis to develop and commercialize circular bio-based coatings for the building and construction industries. This attempts to lessen our reliance on fossil fuels and develop more sustainable building materials.
- In February 2024, PPG Industries introduced its new Envirothane® Endura XP low-VOC aqueous acrylic coating, which is specifically suited for high-traffic exterior applications. This coating provides increased durability, stain resistance, and cleanability.
- In January 2024, Sherwin-Williams released its 2023 Global Colour Forecast, which highlights important color trends predicted to influence architectural design. The prediction emphasizes nature-inspired tones and relaxing neutrals, reflecting the increased interest in biophilic design and wellness environments.
- In January 2024, Nippon Paint Holdings announced the acquisition of PPG’s architectural coatings division in India. This deal enhances Nippon’s position in the expanding Indian market and broadens its product offerings.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | AkzoNobel, PPG Industries, Sherwin-Williams, Nippon Paint Holdings, RPM International Inc., BASF SE, DuPont de Nemours Inc., Weyerhaeuser Company |
| SEGMENTS COVERED | By Resin Type, By Technology, By Product, By Application, And By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET, BY RESIN TYPE
5.1 Overview
5.2 Acrylic
5.3 Epoxy
5.4 Polyester
5.5 Alkyd
5.6 Polyurethane
6 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY
6.1 Overview
6.2 Solvent Borne
6.3 Water Borne
7 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET, BY PRODUCT
7.1 Overview
7.2 Primer
7.3 Emulsion
7.4 Enamel
8 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET, BY APPLICATION
8.1 Overview
8.2 Residential
8.3 Non-residential
9 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET, BY GEOGRAPHY
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 Latin America
9.5.2 Middle East and Africa
10 GLOBAL EXTERIOR ARCHITECTURAL COATINGS MARKET COMPETITIVE LANDSCAPE
10.1 Overview
10.2 Company Market Ranking
10.3 Key Development Strategies
11 COMPANY PROFILES
11.1 AkzoNobel
11.1.1 Overview
11.1.2 Financial Performance
11.1.3 Product Outlook
11.1.4 Key Developments
11.2 PPG Industries
11.2.1 Overview
11.2.2 Financial Performance
11.2.3 Product Outlook
11.2.4 Key Developments
11.3 Sherwin-Williams
11.3.1 Overview
11.3.2 Financial Performance
11.3.3 Product Outlook
11.3.4 Key Developments
11.4 Nippon Paint Holdings
11.4.1 Overview
11.4.2 Financial Performance
11.4.3 Product Outlook
11.4.4 Key Developments
11.5 RPM International Inc.
11.5.1 Overview
11.5.2 Financial Performance
11.5.3 Product Outlook
11.5.4 Key Developments
11.6 BASF SE
11.6.1 Overview
11.6.2 Financial Performance
11.6.3 Product Outlook
11.6.4 Key Developments
11.7 DuPont de Nemours Inc.
11.7.1 Overview
11.7.2 Financial Performance
11.7.3 Product Outlook
11.7.4 Key Developments
11.8 Weyerhaeuser Company
11.8.1 Overview
11.8.2 Financial Performance
11.8.3 Product Outlook
11.8.4 Key Developments
11.9 Kansai Paint Co., Ltd.
11.9.1 Overview
11.9.2 Financial Performance
11.9.3 Product Outlook
11.9.4 Key Developments
11.10 Benjamin Moore & Co.
11.10.1 Overview
11.10.2 Financial Performance
11.10.3 Product Outlook
11.10.4 Key Developments
12 KEY DEVELOPMENTS
12.1 Product Launches/Developments
12.2 Mergers and Acquisitions
12.3 Business Expansions
12.4 Partnerships and Collaborations
13 Appendix
13.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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