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Commercial architectural coatings are used to enhance the appearance of a building and protect it from elements such as moisture, UV radiation, and microbes. Paints, primers, lacquers, varnishes, and stains are some of the major types of architectural coating products. Technavio’s market research analyst predicts the commercial architectural coatings market attain a market value of around USD 23 billion by the end of 2019.
The rise in civil construction activities across the globe and increased investments in the maintenance and repair of existing buildings is expected to drive the growth of the architectural coatings market. Emerging markets such as Central and Eastern Europe and APAC are anticipated to offer potential growth opportunities to vendors.
The global commercial architectural coatings market is fragmented, yet there are significant regional differences attributed to the level of economic development. Developed regions such as North America and Western Europe have a high degree of consolidation, with the primary vendors accounting for a significant share of the market. Developing and key emerging regions such as Latin America, Eastern Europe, and APAC have a small degree of consolidation, with a number of vendors operating in these markets.
The key vendors in the market are –
Other prominent vendors in the market include Adex, Axalta, Berger Paints, Brillux, Colorado Paint, Dulux Australia, Dunn-Edwards, IFS Coatings, Jotun, Kansai, KEIM Mineral Coatings, Kelly-Moore Paints, Materis, Meffert, Morrells, Pintuco, RPM, Schaepman, Tikkurila, and Tnemec.
The interior segment is forecasted to witness high growth at a rate of 5% by the end of 2019. The recovery of the global housing market and an increase in demand for home improvement applications is expected to fuel the market growth.
The large retailers and wholesale segment is predicted to see the fastest growth during the forecast period due to the increase in demand from DIY consumers. Developed regions are projected to contribute substantially to the growth of this segment due to the presence of a vast number of organized retail outlets.
During 2014, professional users constituted the majority of the architectural coatings market. However, the report expects the DIY consumer segment to witness the fastest growth during the forecast period due to the increasing number of residential users undertaking DIY projects.
APAC accounted for nearly 38% of the global market share in terms of revenue during 2014. This research report anticipates APAC to be the fastest growing region during the forecast period. The increase in consumer spending on home decorations and enhancements in this region is expected to boost the market growth.
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