According to a new report, published by KBV research, The Global Architectural Coatings Market size is expected to reach $107.7 billion by 2031, rising at a market growth of 5.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 30,341.2 kilo tonnes experiencing a growth of 25.5% (2020-2023).
The Water Borne segment generated the highest revenue in the Global Architectural Coatings Market by Technology in 2023; thereby, achieving a market value of $78.6 billion by 2031. Water-borne paints are ideal for use in kitchens, bathrooms, and other high-moisture areas where resistance to humidity, moisture, and mildew is essential. They provide a waterproof and mold-resistant finish that is easy to clean and maintain, even in environments prone to moisture and condensation.
The Residential segment is registering a CAGR of 5% during the forecast period. Architectural coatings are easy to clean and maintain, requiring minimal effort to keep residential surfaces looking new and fresh. They can be cleaned with mild detergents and water, making them suitable for interior and exterior applications.
The Acrylic segment led the Global Architectural Coatings Market by Resin Type in 2023; thereby, achieving a market value of $32 billion by 2031. Acrylic interior paints are used to decorate and protect interior walls and ceilings in homes, offices, schools, hospitals, and other commercial and institutional buildings. They offer easy application, quick drying, and low odor, making them suitable for interior environments with minimal ventilation.
The Ceramics segment is growing at a CAGR of 4.3 % during the forecast period. Architectural coatings provide ceramic surfaces with waterproofing and moisture-resistant properties, preventing water penetration and damage. They are ideal for wet areas such as bathrooms, kitchens, and swimming pools, protecting ceramic tiles from water damage, mold, and mildew growth.
Full Report: https://www.kbvresearch.com/architectural-coatings-market/
The Asia Pacific region dominated the Global Architectural Coatings Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $43.2 billion by 2031. The North America region is anticipated to grow at a CAGR of 4.8% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 5% during (2024 - 2031).
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 Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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