The Asia Pacific Architectural Coatings Market would witness market growth of 5.8% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 10,652.1 kilo tonnes, showcasing a growth of 25.9% (2020-2023).
The residential segment in architectural coatings encompasses a wide range of applications including interior and exterior walls, ceilings, floors, and decorative elements. Coatings used in residential settings must address aesthetic preferences, durability, and ease of maintenance. Products in this segment include paints, primers, stains, and finishes designed to enhance the visual appeal of homes while providing protection against wear and environmental factors. Thus, the Chinese market consumed 2,735.05 kilo tonnes of this chemical in residential applications in 2023.
The China market dominated the Asia Pacific Architectural Coatings Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12,075.4 million by 2031. The Japan market is registering a CAGR of 5.3% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 6.6% during (2024 - 2031).
Fire-resistant coatings are essential for improving the fire safety of buildings. They help prevent the spread of flames and reduce smoke generation, providing valuable time for occupants to evacuate in the event of a fire. These coatings are used in both residential and commercial buildings to meet fire safety regulations. Graffiti vandalism is a significant concern in urban areas, and anti-graffiti coatings help mitigate the damage caused by graffiti tagging.
These coatings form a protective barrier, allowing easy graffiti removal without damaging the underlying surface. They are commonly used on public buildings, bridges, and transportation infrastructure. Waterproofing coatings protect against water infiltration, preventing damage to building materials and structural components. These coatings are used in basements, foundations, roofs, and other areas prone to water damage. They contribute to a building's longer lifespan and lower the chance of mold, mildew, and structural deterioration.
Transportation infrastructure expansion and modernization, including roads, bridges, railways, airports, and ports, drive demand for protective coatings in Asia Pacific. Coatings protect infrastructure assets from corrosion, abrasion, and environmental damage, extending their service life and reducing maintenance costs in Asia Pacific. Urban renewal and redevelopment projects in major cities drive demand for architectural coatings for building renovation and rejuvenation in Asia Pacific. Coatings are used to refresh and modernize the appearance of existing buildings, improve energy efficiency, and enhance urban aesthetics in Asia Pacific. Increasing demand for residential properties, driven by rising incomes, urbanization, and population growth, fuels the residential construction boom in Asia Pacific countries. Therefore, due to the above-mentioned factors, the architectural coatings market will grow significantly in this region.
Free Valuable Insights: The Global Architectural Coatings Market is Predict to reach USD 107.7 Billion by 2031, at a CAGR of 5.5%
Based on Technology, the market is segmented into Water Borne and Solvent Borne. Based on End-Use, the market is segmented into Residential and Non-Residential. Based on Resin Type, the market is segmented into Acrylic, Alkyd, Epoxy, Polyurethane, Polyester, and Other Resin Types. Based on Function, the market is segmented into Ceramics, Inks, Lacquers, Paints, Powder Coatings, Primers, Sealers, Stains, and Varnishes. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-Use (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Resin Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Function (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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